Industry News
Former Three Arrows Capital co-founder sparks controversy amid bankruptcy fallout
Adam Davies’ Unapologetic Stance Amid Three Arrows Capital’s Bankruptcy: A Troubled Entrepreneurial History and Evasion of Legal Consequences Adam Davies, the co-founder of the now-bankrupt Singaporean hedge fund Three Arrows Capital (3AC), continues to stir controversy following the fund’s collapse. In a recent episode of the Unchained podcast on March 19, Davies reiterated his lack…
U.S. Government wants to sell private jets linked to FTX’s Sam Bankman-Fried
On March 22, 2023, the U.S. Attorney’s Office for the Southern District of New York filed a request with the U.S. District Court to sell two private aircraft belonging to Sam “SBF” Bankman-Fried, the former CEO of cryptocurrency exchange FTX. According to the filing by U.S. Attorney Damian Williams [stated in the document], this move…
ESMA’s resource constraints hinder the EU’s crypto regulation efforts
The contact Union (EU) is encountering a substantial challenge in creating a robust regulatory framework for cryptocurrencies due to the resource constraints faced by the contact Securities and Markets Authority (ESMA), which could potentially place the EU at a disadvantage compared to other global markets in adopting cryptocurrencies and blockchain technology. ESMA’s Resource Challenges: A…
Still Wakes the Deep: Release Date Revealed in Stunning Trailer
During the exhilarating reveal at the Future Games Show Spring Showcase, gaming aficionados were granted an unforgettable moment as the release date for the greatly anticipated narrative horror game, “Still Wakes the Deep,” was announced. This title, developed by the esteemed team at The Chinese Room – renowned for their earlier works such as “Dear…
Hedera (HBAR) Elevates UK’s Crypto Landscape by Joining UKCBC with Ripple and Coinbase
In a Strategic Move to Transform the UK’s Cryptocurrency Landscape: Hedera (HBAR), a leading blockchain platform, recently announced its latest collaboration by becoming a member of the esteemed UK Cryptoasset Business Council (UKCBC). This significant move positions Hedera alongside industry giants such as Ripple and Coinbase, marking a new chapter in the UK’s burgeoning crypto…
UAE Central Bank piloting CBDC with UAE Commercial Banks and payment processors
Overview The Central Bank of the United Arab Emirates (UAE) is spearheading the adoption of a Central Bank Digital Currency (CBDC) within the country, known as the digital Dirham. In a recent report titled “The digital assets innovation opportunity in MENA” by EY, it was revealed that all UAE licensed financial institutions (LFI) are expected…
Coinbase surge triggers ARK Invest’s $52M profit-taking move
ARK Invest, the innovative investment firm helmed by Cathie Wood, has recently executed a noteworthy move in its investment portfolio by selling off a substantial chunk of its holdings in Coinbase. This divestment amounted to 199,526 shares, equivalent to approximately $52.3 million based on Coinbase’s closing price at that time.ARK had made this decision amid…
Silvergate to face lawsuit over alleged FTX exchange fraud
Class-Action Lawsuit Against Silvergate Bank: Allegations of Facilitating Fraud at FTX and Alameda Research In a notable turn of events within the cryptocurrency banking sector, Silvergate Bank is facing a class-action lawsuit following accusations from FTX users. These allegations claim that Silvergate played a role in enabling fraudulent activities at the exchange and its affiliate,…
Researchers discover critical vulnerability in Apple M-Series chips
In a recent development, academic researchers have disclosed a new vulnerability, referred to as GoFetch, within Apple’s M-series chips used in Mac devices. This flaw could potentially enable attackers to extract sensitive cryptographic keys from these devices without requiring elevated system privileges. The vulnerability, deeply embedded in the microarchitectural design of Apple’s silicon, is proving…
BlackRock receives memecoins and NFTs amid $100M deposit
Asset management behemoth BlackRock has recently garnered attention for its entry into the realm of memecoins and non-fungible tokens (NFTs), indicating a major pivot in its stance towards digital assets. According to on-chain investigations, BlackRock now holds a portfolio worth over $40,000 in memecoins and NFTs following the establishment of its new tokenization fund. BlackRock’s…
Compass Coffee and Coinbase Stir the Pot: A Leap Towards Crypto Payments
Compass Coffee, a well-established coffee chain with a robust presence in the bustling city of Washington D.C., has recently forged an innovative partnership with Coinbase, the leading cryptocurrency exchange based in the United States. This collaboration marks a momentous shift in the retail landscape, making Compass Coffee the pioneer café in the D.C. metropolitan area…
SEC chairman Gensler leads crypto oversight push with $2.6 billion budget proposal
The United States Securities and Exchange Commission (SEC), under the leadership of Chairman Gary Gensler, has submitted a bold request for a $2.6 billion budget allocation for the fiscal year 2025. This substantial budgetary proposal is aimed at fortifying the SEC’s capacity to regulate the burgeoning cryptocurrency sector, in response to its observation of the…
Hacker Disrupts Apex Legends Esports Finals, Claims Act Was “Just for Fun”
Hacker’s Surprise Attack on Apex Legends Global Series Finals: A Wake-Up Call for Esports Cybersecurity The Unforeseen Interruption: The North American Apex Legends Global Series Finals An unexpected turn of events unfolded during the much-anticipated North American Apex Legends Global Series finals, causing a significant disruption when two players were granted cheat-based abilities due to…
Crypto market losses $400 billion – Where do we go from here?
The cryptocurrency market experienced a peculiar bounce back on Wednesday, as Bitcoin made an unexpected climb of 1.7%, settling at $65,773 after an initial dip to $60,793. This recuperation occurred following the conclusion of the Federal Reserve’s two-day meeting, during which the central bank kept interest rates unchanged as anticipated but indicated the possibility of…
New TRAI Regulations Aim to Curb SIM Swap Fraud
The Telecom Regulatory Authority of India (TRAI) has announced significant amendments to the regulations surrounding Mobile Number Portability (MNP), or SIM porting as it is commonly known, in an attempt to counteract the increasing instances of SIM swap fraud across India. These modifications are set to be enforced from July 1, 2024, with the primary…
Former CFTC official challenges SEC on Ethereum regulation
Former CFTC Commissioner Brian Quintenz Speaks Out Against SEC’s Approach to Ethereum (ETH) Brian Quintenz, the former Commissioner of the Commodity Futures Trading Commission (CFTC), has publicly criticized the Securities and Exchange Commission (SEC) for its treatment of Ethereum (ETH). Quintenz labeled the SEC’s stance on Ethereum as “illegal” and expressed concerns regarding regulatory confusion….
Hong Kong central bank flags e-HKD investment scams
The Hong Kong Monetary Authority (HKMA), the central banking institution of Hong Kong, has issued a public warning against certain organizations that are falsely claiming an association with its e-HKD pilot projects. The central bank’s advisory highlights concerns as Hong Kong evaluates the potential of a central bank digital currency (CBDC) through various trial projects….
India’s crypto regulations push OKX to cease local services
The cryptocurrency exchange OKX, which operates out of Hong Kong, has recently announced its intent to cease trading activities in India due to mounting regulatory hurdles. This decision comes in the wake of increased scrutiny from India’s Financial Intelligence Unit (FIU), which has been cracking down on foreign cryptocurrency exchanges for non-compliance issues. In a…
Celsius targets $2B in withdrawals to aid bankruptcy resolution
Celsius Initiates Legal Actions to Reclaim $2 Billion Withdrawn by Users Before Bankruptcy – Understanding the Clawback Provision and Its Implications for the Crypto Industry In a noteworthy turn of events, the embattled cryptocurrency lending platform, Celsius, has commenced actions to reclaim funds withdrawn by its users prior to the company’s financial collapse. The firm,…
Coin base’s CLO Paul Grewal Stands Firm in Ethereum’s Defense Against SEC
Amidst Intensifying Regulatory Scrutiny, Ethereum’s Role and Status Defended by Coinbase Chief Legal Officer Paul Grewal In the face of escalating regulatory scrutiny surrounding Ethereum (ETH), Paul Grewal, the Chief Legal Officer (CLO) at Coinbase, has stepped up to challenge misinformation and advocate for Ethereum’s significant position within the cryptocurrency landscape. This comes in response…