The Securities and Exchange Commission (SEC) announced on Tuesday that former Coinbase manager Ishan Wahi and his brother, Nikhil Wahi, have agreed to settle charges of insider trading using knowledge from the exchange. The SEC has forced Ishan Wahi to forfeit 10.97 ETH ($20,848.92) and 9,440 USDT, while Nikhil Wahi was made to forfeit $892,500.
The US Commodities and Futures Trading Commission (CFTC) has issued a warning about the risks associated with the clearing of digital assets. The CFTC’s Division of Clearing and Risk (DCR) has noticed derivatives clearing organizations (DCOs) and applicants expanding their offerings related to digital assets. The DCR has instructed DCOs to identify and manage the
El Salvador has made headlines in the cryptocurrency world recently after becoming the first country to adopt Bitcoin as legal tender. In line with this move, President Nayib Bukele has appointed Saifedean Ammous, author of the book “The Bitcoin Standard” and well-known Bitcoin maximalist, as an economic advisor to the National Bitcoin Office of El
Origin Ether, a new yield farming app, has gained over $12 million in total value locked (TVL) just two weeks after its launch. This information comes from blockchain analytics platform DefiLlama, which measures the dollar value of assets inside an app’s smart contracts. The app was launched on May 16 and had $793,000 locked inside
Bybit, a cryptocurrency exchange, has announced that it will be halting all services and products being offered in Canada until further notice due to regulatory developments in the country. Canadian nationals and residents of the country will no longer be able to open new accounts with the exchange starting May 31. Existing Customers Can Continue
Paxful, a peer-to-peer bitcoin marketplace, has announced the appointment of Roshan Dharia as its interim CEO. In his new role, Dharia will focus on strengthening the company’s operations and exploring strategic alternatives. Dharia expressed his excitement about the opportunity, saying, “It’s a great honor to become CEO of Paxful. I look forward to hitting the
NVIDIA, the multinational semiconductor and technology company, has reached a market capitalization of over $1 trillion, a value comparable to that of all cryptocurrencies combined. Following the release of strong quarterly earnings results, the company’s stock rose by 6%, reaching a 52-week high. Although share prices have since fallen slightly, the company’s value remains above
CoinEx, a cryptocurrency exchange, has announced that it will launch a new exchange for Hong Kong users called “BitHK.” The exchange will support Hong Kong dollar (HKD) and peer-to-peer (P2P) trading. It aims to offer safe and compliant trading and will be available in English and traditional Chinese. CoinEx’s Application to Operate as a VASP
Epic Games, the company behind Fortnite, has announced that it will be expanding its presence in the world of NFT games by introducing almost 20 new games on its marketplace. While the company won’t be developing or publishing these games itself, it is actively embracing the growing trend of Web3 gaming. Despite the challenges the
During an interview with Bankless on May 29, Binance CEO Changpeng Zhao spoke about recent controversies surrounding the company. Binance has been trying to counter reports from various mainstream news outlets, including Forbes, the Financial Times, and Reuters, regarding allegations of fund misuse and supposed ties to China. Zhao suggested that the negative coverage of
Bitcoin blockchain has recorded over 10 million inscriptions using the Ordinals protocol, according to data from Dune Analytics. The majority of these inscriptions were recorded within the last month. Ordinals protocol allows users to embed data into a single identifiable satoshi, thereby opening up potential applications. Ordinals Inscriptions Ordinals inscriptions were first used for producing
The Indonesian province of Bali has recently warned tourists against using cryptocurrencies for payments, stating that those who violate this rule will face severe consequences. The provincial governor, Wayan Koster, made the announcement during a press conference on May 28, where he explained that foreign visitors who use crypto as a means of payment are
In a joint motion to dismiss a lawsuit by the US Securities and Exchange Commission (SEC) against Gemini and Genesis Global Capital, the two cryptocurrency firms have stated that the SEC has no legal basis to describe the Earn program as the sale of unregistered securities. Gemini and Genesis have insisted that the program was
BKEX, a cryptocurrency exchange, has halted all withdrawals due to funds being used for money laundering. The exchange issued a statement on May 29, stating that it was cooperating with law enforcement agencies to gather evidence. BKEX has assured its customers that it would do everything possible to restore normal operations. Withdrawals Suspended Indefinitely The
The highly controversial Digital Asset Mining Energy (DAME) excise tax was not included in the latest Fiscal Responsibility bill to tackle the Debt Ceiling crisis. The proposed 30% tax on energy costs for cryptocurrency miners drew widespread criticism from stakeholders within the crypto-mining sector and US lawmakers. The omission of the tax has been widely
The Reddit Collectible Avatars NFTs are set to achieve a significant milestone as they approach 10 million holders. The collection has become one of the most recognizable NFT collections in the global marketplace since its inception in July 2022. The collection’s growth has been steady, and it currently has a market cap of $44.1 million,
Fractional NFTs, or non-fungible tokens, have emerged as a new way to invest in high-value assets like real estate, fine art, luxury goods, and rare items. By splitting a single NFT asset into smaller pieces, fractionalization allows partial ownership of an NFT. This makes it possible for investors who wouldn’t be able to purchase the
Following the tentative deal between the White House and House Republicans on the US debt ceiling, the cryptocurrency sector has been showing signs of a short-term recovery. The positive sentiment from the US equities markets has also rubbed off on cryptocurrencies. Although buying has not been limited to Bitcoin (BTC), select altcoins are also showing
The Commodities Futures Trading Commission (CFTC) has taken action against five individuals for their involvement in promoting fraudulent bitcoin and cryptocurrency trading services. The CFTC claims that the defendants targeted Spanish-speaking investors and swindled them out of their funds. The five individuals are David Carmona, Juan Arellano Para, Moses Valdez, David Brend, and Marco A.
Ethereum has recently undergone a historic Merge event in September, which has transformed it into a proof-of-stake blockchain. This entails validators staking their Ether (ETH) to confirm transactions. Ethereum’s March upgrade, known as Shanghai, has enabled stakers to withdraw their locked Ether. Ethereum’s investment themes include decentralized finance (DeFi), stablecoins, Bitcoin (via wrapped versions of
VeVe is an app-based marketplace that offers a wide range of premium licensed non-fungible tokens (NFTs) from some of the most iconic brands, including Marvel, Disney, and DC Comics. The platform allows users to buy, sell, and trade digital collectibles, customise and showcase them in virtual showrooms, and interact with others in the VVVerse, VeVe’s
Over the past year, the market dominance of stablecoins pegged to the United States dollar has undergone significant changes. According to data from CoinGecko, while most stablecoins have experienced a downward trend, Tether (USDT) has climbed back to its all-time high. During the past 12 months, the market share of Circle’s USD Coin (USDC) reduced
Pepe meme coin has experienced a significant decrease in value, dropping over 60% from its all-time high on May 5th to around $0.00000143. Social engagement for Pepe has also decreased by 31.5% in the past week. While a decrease in interest is expected after a parabolic run like what Pepe experienced, the question remains whether
The Wall Street Memes crypto project’s presale began on May 26, 2023, and is available for investors to buy at $0.025 during the first round of thirty total stages. It is a way to invest in WSM coin before it is listed on crypto exchanges in Q3 – Q4 2023. The WSM presale is open
DeeLance, a web3 freelancing and remote work metaverse platform, has secured a strategic investment of $1.12 million from Bitgert Ventures, a top venture capital (VC) investment firm. The investment will help fund the development of DeeLance’s blockchain-powered metaverse, which has been generating hype in web3 circles and is expected to disrupt the web2 platform-centric freelance/gig
NEO cryptocurrency has seen a 15% price increase in the past week, making it one of the top-performing assets in the market. NEO positions itself as an open-source platform with the goal of being the foundation for the future Internet, offering digital payments, identities, and assets. At the time of writing, NEO’s price is at
China has been known for its hard stance on trading and owning cryptocurrencies like Bitcoin and Ethereum. However, the country seems to be opening up to some parts of the industry. Despite its strict cryptocurrency regulations, China is pushing for the development of Web3. Web3: Future Internet Industry Development During the parallel forum of the