Bankrupt cryptocurrency exchange FTX and the U.S. Commodity Futures Trading Commission (CFTC) have reached a $12.7 billion settlement, pending approval from a Delaware judge. If approved, the entire $12.7 billion will be allocated to paying back FTX’s creditors, as the CFTC has decided against seeking a civil monetary penalty. $12.7 Billion Settlement The settlement, detailed…
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TLDR The UK Financial Conduct Authority (FCA) has only 18 staff working on crypto asset policy. FCA has 109 total staff working on crypto assets, up from 9 in 2019. The new UK government faces challenges in providing regulatory clarity for the crypto sector. Experts suggest creating a new regulatory body dedicated to digital assets.…
[PRESS RELEASE – Singapore, Singapore, July 17th, 2024] BinaryX, a leading developer and publisher for Web3 games, today announced a community vote to reduce the total supply of its BNX token. This initiative aims to increase the token’s scarcity and long-term value for the benefit of the BinaryX community. Proposed Reduction of BNX Token Supply…
TLDR Craig Wright has admitted he is not Satoshi Nakamoto, the creator of Bitcoin. A UK court ordered Wright to publicly declare he is not Bitcoin’s creator. Wright is barred from filing further lawsuits related to his claims of being Satoshi. The case has been referred to prosecutors for potential perjury charges. Wright was found…
Sentient Labs, a UAE-headquartered startup, has successfully raised $85 million in seed funding. The funding round was spearheaded by billionaire Peter Thiel’s Founders Fund and Pantera Capital, with additional participation from Framework Ventures. Sentient Labs stands out by merging decentralized blockchain features with cutting-edge AI technology, aiming to challenge existing norms and create a more…
TLDR J.D. Vance, Trump’s VP pick, is known for his pro-crypto and anti-Big Tech stance. Vance has praised FTC Chair Lina Khan and called for breaking up Google. He supports a more relaxed approach to regulating cryptocurrency. Vance’s selection could signal a potential shift in US crypto policy if Trump wins. Prediction markets show increased…
Polkadot’s parachain auctions are driving ecosystem growth by enabling competitive blockchain innovation. Avalanche’s compatibility with Ethereum, via the Avalanche-Ethereum Bridge, boosts liquidity and DeFi project adoption. Paw’s unique reward system attracts long-term investors, fostering a loyal and active community. As in the other cases in the recent past, people involved in investment are now keenly…
TLDR DeFi protocol Li.Fi was hacked for approximately $11 million in Ethereum and stablecoins. The exploit targeted users who had manually set infinite approvals on their accounts. Li.Fi has contained the exploit and says users are no longer at risk. The attack may have exploited a vulnerability in the Li.Fi bridge. This is not the…
TLDR Tech executives and venture capitalists are donating to America PAC, a super PAC supporting Donald Trump’s presidential campaign. Cameron and Tyler Winklevoss each donated $250,000 to America PAC. Elon Musk reportedly plans to donate $45 million per month, but this is unconfirmed. Other notable donors include Joe Lonsdale, Douglas Leone, and Troy Link. Trump…