Category Archive: Cryptocurrency, No picture
FTX Targets Founder and Executives in $1B Lawsuit: Questionable Deals and Island Buying Plot
FTX and its CEO, John J. Ray III, have sued Sam Bankman-Fried and several former high-ranking executives as a way to recover millions of dollars and undo questionable transactions exceeding $1 billion: “Fraudulent transfers worth over a billion dollars were made for the benefit of Defendants during the period February 2020 to November 2022.” Targeted […]
SEC Hints at Challenging Court XRP Ruling in Separate Lawsuit
The U.S. Securities and Exchange Commission (SEC) has given its response to the recent court decision in its case against Ripple Labs, arguing that XRP isn’t a security when sold to retail investors. The Ripple comments were made in a separate filing in the SECs ongoing lawsuit against Terraform Labs and its founder, Do Kwon, for […]
Polygon Ecosystem Grows With Blocto’s $1M Accelerator
Blocto, a cross-chain wallet and multi-chain Web3 realm, has announced a $1 million accelerator program. The initiative will simplify wallet creation on the Polygon protocols, following the company’s enhanced efforts towards account abstraction (AA) capabilities. This announcement trails the recent EthCC event where Blocto introduced its AA-compatible wallet designed to foster easier interaction and engagement […]
Coinbase Calls on Users to Repay Loans by November
Coinbase has announced the gradual discontinuation of its lending service, Coinbase Borrow. The decision follows a suspension of new loan applications initiated in May, according to an announcement on July 20: “Coinbase announced that we will begin the gradual process of closing Coinbase Borrow. Customers are unable to take out new lines of credit against […]
Cross-Chain Interoperability Got Easier on Cosmos With Wormhole Gateway
In a recent move to enhance blockchain interoperability, the Wormhole Foundation unveiled Wormhole Gateway, a Cosmos SDK-powered blockchain. The new launch intends to increase liquidity and broaden access within the Cosmos ecosystem, easing the integration of assets from Ethereum, Solana and several other chains. Introducing ✨✨Wormhole Gateway✨✨ – an application-specific blockchain, powered by the @cosmos […]
FTX Didn’t Only Defraud Customers; Ellison Was Underpaid Amid Lack of Support: NYT
As the court date for the long-awaited FTX case approaches, personal documents from one of its key executives, Caroline Ellison — former CEO of Alameda Research — reveal a typical backstory of leadership struggles and complicated personal affairs — with a twist of sexist compensations. These internal conflicts have emerged by the New York Times […]
SEC Chair Gensler Calls Crypto ‘Wild West’ While Asking for More Money
In an effort to grapple with the new frontier cryptocurrency markets, U.S. Securities and Exchange Commission (SEC) Chairm Gary Gensler has called for a budgetary increase for the agency. He cited the need for enhanced vigilance against potential non-compliance in this emerging sector in a speech on July 19: “We’ve seen the Wild West of […]
Neopets Abandons NFT Game Plans After Raising $4M
Neopets — the beloved and longstanding virtual pet franchise — has called off its metaverse and NFT gaming venture after securing over $4 million in funding from Avalanche and Polygon in January 2023. At the time of cancellation, the game had already managed to sell over 9,000 Solana NFTs and secured a $4 million investment […]
Solana Outages Gone? Network Boasts 100% Uptime in Q2
Despite its past of unreliability, a Q2 2023 Solana Network maintained an 100% uptime in Q2 2023, according to the Solana Foundation’s Network Performance Report, representing one of many enhancements made to Solana’s network infrastructure and performance during the first half of the year. The network, managed by an extensive, independent group of validators worldwide, […]
Terraform Labs Names Former COO Chris Amani as CEO: WSJ
Terraform Labs, the blockchain company which collapsed in May 2022, has been appointment of former chief operating officer (COO) Chris Amani as its new interim Chief Executive Officer (CEO), according to the Wall Street Journal. This leadership reshuffling comes as the company’s co-founder, Do Kwon, grapples with fraud convicion in Montenegro, as well as threat […]
