The FTX estate recently concluded the sale of its heavily discounted Solana (SOL) tokens to Pantera Capital and Figure Markets in an effort to reimburse creditors and former clients. The tokens, valued at $2.6 billion, were sold at a significantly reduced price of $102 per token, well below the market price of $168. This sale
Blockchain
In a recent case at the Southwark Crown Court in London, Jian Wen was sentenced to nearly seven years in prison for money laundering in connection with a substantial fraud scheme involving Bitcoin. Wen was found guilty of laundering massive amounts of Bitcoin linked to a $5.6 billion investment fraud in China. Despite holding British
In the wake of the passing of Kabosu, the beloved dog behind the Doge meme and Dogecoin mascot, communities across the web are taking a moment to reflect on her life. At the age of 17, Kabosu left an indelible mark on internet history, uniting pop culture, meme culture, and crypto culture in a shared
Coinbase, a popular cryptocurrency exchange, made waves in the crypto community by reintroducing support for XRP in New York on May 23. This move allows residents of New York to once again buy and sell the Ripple (XRP) cryptocurrency on Coinbase’s platform. The Chief Legal Officer of Coinbase, Paul Grewal, announced the news, highlighting the
SEC Chair Gary Gensler recently released a statement criticizing the Financial Innovation and Technology for the 21st Century Act (FIT21), just ahead of the expected vote on crypto regulation in the House. According to Gensler, the bill could potentially create new regulatory gaps and undermine decades of precedent regarding the oversight of investment contracts. He
In recent news, Gala Games, a prominent blockchain gaming platform, fell victim to a significant security breach resulting in the unauthorized sale of 600 million GALA tokens valued at $23 million. CEO Eric Schiermeyer attributed the incident to inadequate internal controls within the company. The exploit took place on May 20 at 7:32 pm UTC
The Russian crypto mining industry is expected to see significant growth in 2024, with reports suggesting an increase of between 20% and 40%. Industry insiders from BitRiver, Russia’s largest crypto mining player, have made these claims. They attribute this growth to factors such as the low cost of electricity and the lack of strict regulation
In the fast-paced world of cryptocurrency, innovation is key to staying ahead of the curve. BounceBit, a new Bitcoin restaking startup, is on a mission to democratize high-yield Bitcoin investing by merging centralized and decentralized finance (CeDeFi). This ambitious startup has recently unveiled a comprehensive roadmap for 2024, outlining its vision to revolutionize the way
The Chairman of the Hong Kong Institute for International Finance, Xiao Geng, recently spoke about the advantages of implementing a stablecoin pegged to the Chinese yuan for Hong Kong. He emphasized that such a stablecoin could potentially enhance the offshore CNY market and strengthen Hong Kong’s position as an international financial center. This move could
The recent report from Ripple sheds light on the pressing need for new cryptographic systems to protect blockchain technology from quantum computing threats. Professor Massimiliano Sala, from the University of Trento, highlighted the vulnerabilities that quantum computers could pose to current encryption methods. He stressed the importance of developing ‘quantum-resistant’ cryptographic systems to safeguard blockchain
