The family members of former FTX chief Sam Bankman-Fried have recently submitted letters to the federal judge in charge of determining his sentence. These letters were included in a group of 26 supporting SBF and they all requested a lighter sentence for him, downplaying the impact of FTX’s collapse on investors. SBF’s younger brother, Gabriel
Blockchain
Recently, U.S. Republican senators have introduced a bill with the intention of banning the Federal Reserve-backed central bank digital currency (CBDC). This move comes at a time when the Biden administration and the Federal Reserve are exploring the potential applications of CBDCs. Senator Ted Cruz (R-TX) expressed his concerns about what he refers to as
As the financial landscape continues to evolve, the Financial Stability Board (FSB) has outlined its plans for 2024 in a recent letter from Chair Klaas Knot. The global financial stability outlook is described as challenging, but the FSB is prepared with a strategy to address key priority areas. One of the significant aspects of the
The cryptocurrency market is currently experiencing a surge in stablecoin market capitalization and trading volume. Recent data indicates that the stablecoin market has reached a new high in February, with the market cap soaring to $138 billion. This represents a significant increase of 1.95% from the previous month and marks the fifth consecutive month of
The Chinese Ministry of Industry and Information Technology (MIIT) has recently raised an alarm regarding the emergence of fraudulent schemes involving counterfeit digital yuan applications. These fake apps are cleverly designed to mimic the official digital yuan platform, tricking unsuspecting users into downloading and engaging with them under the guise of attractive “promotions.” One such
The ongoing debate on whether cryptocurrencies should be classified as securities in South Korea has resulted in a legal backlog in the Seoul Southern District Court. With individual judges grappling with the question of whether certain coins exhibit “security properties,” high-profile cases related to price manipulation and fraud are coming under intense scrutiny. The Terra
Venture capitalists are starting to warm up to the idea of funding blockchain and cryptocurrency projects. This renewed interest comes after two years of struggle within the industry, with the recent surge in Bitcoin’s value reigniting excitement in potential funding opportunities. While the level of investment is still below previous highs, there has been a
Recently, Jeff “Jihoz” Zirlin, the co-founder of Axie Infinity, fell victim to a security breach that resulted in an $8 million loss from two of his personal Ethereum addresses on Ronin. The breach was brought to light by the web3 security firm Ancilia, Inc., who noticed the unusual withdrawal of over 2,790 Ethereum from Jihoz’s
Startale Labs, a Singapore-based Web3 firm, has recently announced that it has secured an additional $3.5 million in funding from Samsung Next and United Overseas Bank (UOB) Venture Management. This new influx of capital is intended to support the expansion of the company’s Web3 product lineup, including Astar Network and the Startale Web3 Cloud, as
The recent announcement of a collaboration between Wormhole and Advanced Micro Devices (AMD) has sparked interest in the blockchain industry. The partnership aims to integrate AMD’s FPGA hardware accelerators into the Wormhole ecosystem, providing low latency and seamless transactions across the blockchain ecosystem. Wormhole, a zero-knowledge (zk) interoperability platform, will benefit from AMD’s enterprise-grade field
