Industry News
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…
Coinbase’s Base network struggles with surge in traffic and rising fees
Coinbase’s Layer-2 Blockchain Base Faces Challenges Amidst Surge in Network Activity and the Memed Token Craze Coinbase’s much-anticipated layer-2 blockchain, Base, designed to bring lower transaction fees to the Ethereum network, is currently grappling with a surge in network activity. This heightened demand has led to increased traffic and rising transaction fees, resulting in disruptions…
Do Kwon’s appeal thwarted by the Montenegro Court
The Controversial Extradition of Do Kwon: South Korea Wins the Battle, but the War with the US Justice System Isn’t Over The recent decision by the Appellate Court of Montenegro to uphold the extradition of Terraform Labs founder, Do Kwon, to the Republic of South Korea, has brought complications following the request made by the…
Sweden’s Central Bank, The Riksbank, wraps up E-Krona pilot with focus on offline transactions
On March 20, 2023, the Riksbank, Sweden’s central bank, released the final report of its e-krona pilot project. This phase marked a significant departure from the project’s Phase 2 proposal, which primarily focused on mobile phones for storing offline transaction data. Instead, the central bank adopted a new approach involving a “shadow wallet” integrated with…
Apple Co-founder Steve Wozniak triumphs in court against YouTube in Bitcoin scam case
Steve Wozniak Secures Legal Victory Against YouTube in Appeals Court over Manipulated Bitcoin Scam Videos In a significant legal development, Apple co-founder Steve Wozniak has secured a victory in an appeals court against YouTube regarding doctored videos that featured his likeness in a Bitcoin scam back in 2020. According to a report by Bloomberg, the…
LADYS Meme Project: A Fresh Start with Presale Refunds and Upcoming Token Launch
LADYS Meme Project Refunds Presale Funds and Prepares for Transparent Token Launch in the Crypto World In an unprecedented move that highlights the dynamic and innovative spirit of the cryptocurrency sector, the meme project LADYS has opted to refund all presale funds directly back to their original wallet addresses. This decision, aimed at fostering trust…
Starknet fixes airdrop issues for Immutable and Ethereum stakers
Starknet, the Ethereum layer-2 blockchain project, has announced an expansion in the eligibility criteria for its inaugural Starknet provisions, including two new sub-groups of users who previously faced obstacles in claiming their STRK tokens. The Starknet Foundation, which supports the network, undertook a thorough review to tackle eligibility concerns surrounding specific user groups for the…
Remedy Reports Decline in Revenue for 2023 Financial Year
Financial Overview: In its recently published financial report for the fiscal year 2023, the acclaimed game developer Remedy Entertainment has disclosed a noticeable drop in revenue compared to previous years. The revenue decline was evident despite the much-anticipated release of highly regarded titles such as Alan Wake 2. Detailed Analysis of Financial Performance Remedy’s financial…
Genesis Global to pay $21 million civil penalty in SEC settlement
In a significant turn of events, Genesis Global, a major player in the crypto lending sector, has found itself in hot water, agreeing to pay a hefty fine of $21 million in civil penalties. The reason for this financial penalty? Genesis was involved in an unregistered offer and sale of securities through the Gemini Earn…
Decentralized finance (DeFi) aggregator ParaSwap thwarts Augustus v6 vulnerability
ParaSwap’s Swift and Effective Response to Critical Vulnerability: Protecting User Funds In the rapidly evolving world of decentralized finance (DeFi), ensuring security and user protection is paramount. ParaSwap, a prominent DeFi aggregator, has demonstrated its commitment to these ideals by swiftly addressing a critical vulnerability discovered within its Augustus v6 contract. This proactive intervention prevented…
Current crypto boom is fueled by retail investors, says Goldman Sachs
Recently, the Enthusiasm Surrounding Cryptocurrencies Reaches a New Height: The buzz around cryptocurrencies has reached new heights, and the unexpected catalyst for this surge is none other than the everyday investor. While Wall Street insiders keep a close eye on the developments, Goldman Sachs’ digital asset head Mathew McDermott has revealed that retail investors have…
Ohio’s U.S. senate race emerges as a crucial battleground for the crypto industry
Ohio’s Upcoming Senate Race: A Pivotal Contest for the Crypto Sector and Its Regulatory Future The cryptocurrency sector is witnessing a significant development with Ohio’s upcoming U.S. Senate race gaining considerable attention from industry players. This highly anticipated congressional contest poses as one of the most critical races of the year, with Ohio businessman and…