The Israeli start up Chain Reaction raised $70 million in its pursuit to develop blockchain chips.
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SEC files objection to Binance US bid for Voyager assets
The SEC has moved to bar final approval of Binance.US’ $1 billion bid for assets belonging to bankrupt crypto lending firm Voyager Digital.
USDC issuer Circle to increase staff by up to 25% amid layoff season
USD Coin (USDC) issuer Circle plans to increase its workforce by 15-25% in 2023 amid a sea of layoffs across the industry, reported the Wall Street Journal.
At a time when a significant chunk of industry-wide firms is laying off staff to mitigate their financial woes, Circle has gone against the tide to hire more people.
41% of all layoffs in 2023 came from the cryptocurrency industry. Major cryptocurrency firms that made significant employee cuts include Polygon, Chainalysis, Bittrex, Huobi, Crypto.com, Coinbase, Gemini, Genesis, and Wyre.
A major factor behind crypto companies reducing manpower was attributed to the prolonged crypto winter and a number of crypto implosions that wiped out billions from the balance sheets of numerous companies associated with them. However, the large-scale crypto industry layoffs were not in isolation. Around 48,000 people in January alone were let go from just four companies: Google, Amazon, Microsoft and Salesforce.
The decision to increase its workforce for Circle comes just months after canceling its public debut. Earlier in December, Circle mutually terminated its plans to go public with the special purpose acquisition company (SPAC) Concord Acquisition. The deal was announced in July 2021 with a preliminary valuation of $4.5 billion and was then amended in February 2022 when Circle’s valuation ballooned to $9 billion.
USDC issuer Circle to increase staff by up to 25% amid layoff season
The plan to expand its workforce comes just months after it mutually called off its plans to go public via a SPAC merger.
German DZ Bank adds digital currencies into asset management services
German asset manager DZ Bank collaborated with Swiss technology firm Metaco to add digital asset management into its services.
Kim Kardashian, Floyd Mayweather file motion to dismiss crypto promotion lawsuit
The defendants pointed out that the renewed allegations push the same theory that the court already rejected before.
'It would be absurd' for a US court to rule private NFTs as securities: Lawyer
The comments from the hosts of lawyers comes as Judge Victor Marreo said that Dapper Labs’ NBA Top Shot Moments NFT may constitute a security.
'It would be absurd' for a US court to rule private NFTs as securities: Lawyer
Blockchain Association’s chief legal officer says “it would be absurd” for a United States court to rule that digital assets on private blockchains are securities, following a federal judge's decision to allow a lawsuit against Dapper Labs's NBA Top Shots NFTs to play out.
U.S. attorney Jake Chervinsky made the comment after federal judge Victor Marreo denied a motion to dismiss a 2021 lawsuit that accused Dapper Labs of selling nonfungible tokens (NFTs) as unregistered securities.
Chervinsky was among a host of lawyers on Twitter to reiterate that the judge’s denial of the motion does not mean a ruling has been made on the lawsuit, only that it was “facially plausible.”
“The judge didn't decide anything. He allowed the case to proceed past a motion to dismiss because the securities claims were at least ‘plausible,’ an extremely low bar and not a final ruling at all,” he explained.
“This dispute aside, it would be absurd if all valuable digital assets stored on centralized databases were securities.”
'It would be absurd' for a US court to rule private NFTs as securities: Lawyer
The comments from the hosts of lawyers comes as Judge Victor Marreo said that Dapper Labs’ NBA Top Shot Moments NFT may constitute a security.
Trade group accuses SEC of ‘stealthy’ overreach in Coinbase insider trading case
The Chamber of Digital Commerce has accused the SEC of trying to impose securities regulations via the “back door” of an insider trading lawsuit.
Frax Finance to retire algorithmic backing amid stablecoin crackdown
The vote was passed to fully collateralize Frax Finance's native stablecoin, thus phasing out its algorithmic backing.
CoinEx crypto exchange sued by New York for failing to register with state
The NY Attorney General is looking for a court order to remove the exchange from the state and wants it to block all internet addresses originating from New York.
Forsage founders indicted over $340M DeFi ‘Ponzi scheme’
According to the Department of Justice, Forsage employed smart contracts which were coded in ways consistent with a Ponzi scheme.
Forsage founders indicted over $340M DeFi ‘Ponzi scheme’
According to the Department of Justice, Forsage employed smart contracts which were coded in ways consistent with a Ponzi scheme.
Only 0.04% of Ethereum validators have been slashed since 2020, says core dev
Only 226 validators have been slashed since Ethereum staking began, with 75 of those coming from one single event in Feb. 2021.
Google Cloud partners with Tezos blockchain to develop Web3 tech
The partnership will see Google Cloud becoming a validator on the Tezos network.
Breaking: Polygon blockchain reportedly suffers network outage
The blockchain has not produced any new blocks or processed transactions for at least an hour and 40 minutes, leading some to believe its currently suffering an outage.
Gary Gensler’s SEC is playing a game, but not the one you think
Gensler has made a show of cracking down on crypto companies that haven’t engaged in actual misconduct. When real fraud is taking place, he’s nowhere to be seen.
BIS head describes ideal ‘unified ledger’ for central banks and other financial users
peaking in Singapore, Agustín Carstens described a ledger that would accommodate a variety of public and private projects in discrete but connectable parts.
Rep. Maxine Waters says all US regulators 'better get together on crypto'
According to Representative Maxine Waters, the crypto market crash and bankruptcies gave U.S. lawmakers an opportunity of “getting accountability” in the space through legislation.