A stablecoin called Real USD (USDR), which is built on the Polygon (MATIC) layer-2 scaling solution and backed by real estate assets, has experienced a significant loss in value after detaching from the US dollar. The decentralized autonomous organization (DAO) behind USDR, Tangible, has acknowledged the setback and outlined a plan to assist affected investors. […]
James Comer, chair of the United States House of Representatives Oversight and Accountability Committee, has threatened Securities and Exchange Commission (SEC) chair Gary Gensler with a subpoena. Comer expressed concern about SEC’s actions to circumvent Congress and harm American taxpayers. The issue at hand is the SEC’s coordination with the European Union (EU) on environmental, […]
Ark Invest, led by Cathie Wood, has filed an updated version of its spot Bitcoin ETF prospectus in response to feedback from the U.S. Securities and Exchange Commission (SEC). The SEC had requested clarifications on certain concerns, and it appears that Ark Invest has addressed these concerns in its new filing. One notable change in […]
United States supermarket chain Trader Joe’s has filed a complaint against decentralized exchange Trader Joe, accusing it of federal trademark infringement and dilution. The lawsuit claims that Trader Joe and its co-founder Cheng Chieh Liu used the supermarket’s ideas and narrative for one of the platform’s fictional characters, as well as a similar name and […]
Ripple’s recent legal victory against the US Securities and Exchange Commission (SEC) has had significant implications for its cryptocurrency, XRP. The ruling by Judge Analisa Torres classified XRP as a non-security, providing much-needed clarity for the token in the US. Ripple’s Chief Legal Officer, Stuart Alderoty, highlighted this unique status in an interview with CNBC. […]
According to former Alameda Research CEO Caroline Ellison, a tweet from Binance CEO Changpeng Zhao (CZ) played a role in the collapse of cryptocurrency exchange FTX. In the tweet, CZ announced that Binance would be liquidating its holdings of FTX Token (FTT) due to recent revelations. This caused retail investors to follow suit and withdraw […]
Amidst ongoing legal proceedings, new testimonies have emerged against Sam Bankman-Fried (SBF) and his operations. A former engineer at Alameda Research, the sister hedge fund of FTX, has come forward with revelations of substantial losses in trading funds totaling at least $190 million. Aditya Baradwaj, the individual in question, has provided a detailed account of […]
Avalanche-based social app Stars Arena has successfully recovered the majority of its lost assets following a recent security breach. The hacker responsible for the breach agreed to return the stolen $2.9 million in AVAX tokens in exchange for a 10% bounty and 1,000 AVAX lost in a bridge. Stars Arena had previously experienced an attempted […]
Philippine-based cryptocurrency exchange Coins.ph has partnered with fintech firm Circle to enhance remittance services for its 18 million Filipino users. The collaboration aims to leverage stablecoin-denominated remittances, which offer fast, affordable, and secure international money transfers. Circle is the creator of USDC, the second-largest stablecoin by market capitalization, designed to maintain a 1-to-1 peg with […]
Kara Szabo, a crypto influencer, has challenged Canadian billionaire Calvin Ayre to a $100 million bet if he can prove that Craig Wright is the creator of Bitcoin, Satoshi Nakamoto. Ayre responded by stating that Wright’s “domain knowledge and Patent portfolio” were enough for him, and that “history will not be kind” to Szabo. The […]
