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Recently, the US Securities and Exchange Commission (SEC) made headlines by accepting a proposal that includes exceptions for certain institutions affected by the controversial Staff Accounting Bulletin No. 121 (SAB 121). This move has sparked a debate within the financial industry and has significant implications for the future of crypto accounting compliance. The SEC’s decision
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Railgun, a popular crypto privacy protocol, recently prevented Inferno Drainer from laundering stolen funds. SlowMist’s anti-money laundering tracking system, MistTrack on X, revealed that Railgun intercepted an attempt to launder over 174 ETH, valued at approximately $533,000 at the time. As a result, the perpetrators were compelled to return the stolen ETH to Inferno Drainer’s
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The recent announcement of Anomaly Games joining the Google for Startups Cloud Program marks a significant development in the gaming industry. This strategic partnership is poised to revolutionize the sector by blending advanced cloud technology, artificial intelligence, and Web3 innovations. Indie game developers, tech entrepreneurs, crypto enthusiasts, and Web3 pioneers are in for an exciting
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In a recent hearing, Judge Katherine Polk Failla criticized Coinbase’s attempt to subpoena SEC chair Gary Gensler in the ongoing case against the firm. She pointed out that the request included Gensler’s statements before he became SEC chair in 2021. Coinbase’s argument for seeking Gensler’s earliest comments was based on the need to confirm whether
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Recent data has revealed a significant shift in the relationship between Bitcoin and US stocks. Previously, these assets exhibited a positive correlation, leading to a beneficial impact on the cryptocurrency market. However, according to information from the market intelligence platform IntoTheBlock, Bitcoin’s correlation with the Nasdaq 100 and S&P 500 has now plummeted to -0.78
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Despite the challenges posed by the current market conditions, DWF Labs, a prominent Web3 market maker and investment firm, has set forth ambitious plans for further expansion and innovation. The recent unveiling of its new website marks the beginning of its pledge to uphold greater transparency and fair market practices, solidifying its position as a
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Recently, the Canadian musician Drake made a substantial Bitcoin bet on the Copa America semi-final match between Canada and Argentina. Despite the odds being against Canada, with a potential profit of over $2.5 million in Bitcoin, Argentina emerged victorious with a 2-0 win. This loss adds to Drake’s history of significant betting losses. Past Betting
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During a recent Senate Agriculture Committee hearing on digital commodities oversight, CFTC chair Rostin Behnam expressed the agency’s willingness to potentially become the primary regulator for cryptocurrencies. The discussion, which took place on July 10, revolved around the CFTC’s request for expanded regulatory authority in the realm of digital assets. Senator Roger Marshall questioned Behnam
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ShardLab, the blockchain arm of Hashed, a global Web3 venture capital firm, has unveiled a groundbreaking web application designed to streamline decentralized identity (DiD) and NFT voucher distribution processes. This new application leverages cutting-edge technologies such as account abstraction (AA) and zero-knowledge proofs (ZK) to enhance security and usability for everyday transactions, setting a new
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Recently, wallets linked to the CoinStats exploiter made a move that raised eyebrows in the crypto community. A staggering $1 million in Ether was transferred into the controversial crypto mixing protocol known as Tornado Cash. This significant transfer occurred not long after CoinStats announced that they were conducting investigations into the exploit. The blockchain security
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Blockchain technology has revolutionized the way we think about transactions and data storage. With the rise of cryptocurrencies, it has become essential to ensure the security of digital assets. Recently, Kraken, along with other key industry players, announced the formation of the Blockchain Security Standards Council (BSSC) to enhance security within the crypto sector. This
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In recent news, Ethereum 2.0 staking has experienced a significant surge, reaching a major milestone with the deposit contract for staking on the Beacon Chain hitting a record high of 47.36 million ETH. Surprisingly, this accounts for a staggering 33.9% of the total Ethereum supply. These statistics, provided by the crypto analytic platform Santiment, indicate
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Ethereum (ETH) has been making headlines in the cryptocurrency world as the top trending token. This surge in popularity can be attributed to the updated S-1 forms filed for spot ETH ETFs by major financial firms such as BlackRock, Fidelity, VanEck, 21Shares, Grayscale, and Franklin Templeton. The market intelligence platform, Santiment, highlighted Ethereum as the
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The recent news of Paxful’s co-founder and former CTO, Artur Schaback, pleading guilty to conspiracy has sent shockwaves through the cryptocurrency community. Schaback’s failure to establish, develop, implement, and maintain a compliant AML program as required by the Bank Secrecy Act has raised serious concerns about the company’s practices. The US Department of Justice’s Office
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Katherine Dowling, the Chief Compliance Officer of Bitwise, recently stated that spot Ethereum ETFs are on the verge of approval. In a discussion with Bloomberg, she mentioned that the Securities and Exchange Commission (SEC) is receptive to discussions about various financial products. Dowling highlighted that the SEC and ETF issuers are making progress with each
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The implementation of Europe’s Markets in Crypto-Assets Regulation (MiCA) on June 30 has resulted in a significant shift in the cryptocurrency market. With an increased demand for compliant stablecoins, Circle’s USDC has emerged as a primary beneficiary of this trend. According to French blockchain analytics firm Kaiko, non-compliant stablecoins currently account for 88% of the
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