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The Federal Reserve has announced an enforcement action against Farmington State Bank, a Washington-based institution tied to the collapsed cryptocurrency exchange FTX. The Fed says Farmington improperly changed its business model in 2022 to pursue digital asset activities without proper approval. This led to the bank receiving around $11.5
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Tether, the company behind the popular USDT stablecoin, announced this week it will stop issuing new tokens on the Bitcoin blockchain. The move effectively ends one of the first ever stablecoins created - Bitcoin Omni Layer Tether - launched all the way back in 2014. While existing USDT tokens on
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Helio Lending, an Australian cryptocurrency lending company, has been sentenced to a good behavior bond after pleading guilty to falsely claiming it had an official credit license in 2019. The Melbourne-based startup will avoid a criminal conviction if it adheres to the bond's conditions over the next year.
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Elemental Cognition, an AI startup founded by David Ferrucci, the leader of the team that created IBM's Watson, has raised nearly $60 million in new funding as investors seek the "next ChatGPT." The New York-based startup provides natural language AI solutions for enterprises, including chatbots tailored
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Tether, the company behind the popular USDT stablecoin, announced this week that it will stop issuing new tokens on the Bitcoin blockchain through the Omni Layer protocol. While existing USDT tokens on Bitcoin will continue to be supported for at least another year, this move signals the end of an
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A federal judge has ruled in favor of the US Department of the Treasury in a lawsuit challenging its sanctioning of privacy protocol Tornado Cash. Judge Robert Pitman sided with the government by granting its motion for summary judgment while denying a similar motion filed by the plaintiffs. The lawsuit
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Cypher Protocol, a decentralized futures exchange on the Solana blockchain, has successfully frozen over $600,000 worth of cryptocurrency that was drained from the protocol during a code exploit on August 7th. The freeze comes after Cypher enlisted the help of independent blockchain investigators and law enforcement to track and
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The decentralized autonomous organization (DAO) behind the Mantle protocol has paused its ongoing token migration process to prevent collapsed crypto exchange FTX and its sister trading firm Alameda Research from converting their BIT tokens worth $43 million to Mantle's native MNT tokens. The issue arose after a Mantle
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Crypto businesses across the United Kingdom will soon need to comply with the Financial Action Task Force's (FATF) Travel Rule regulations aimed at increasing transparency in digital asset transactions. Beginning on September 1st, 2023, UK-based virtual asset service providers (VASPs) must share customer information when facilitating transfers, both
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An anonymous cryptocurrency whale avoided over $5 million in potential losses by executing a fortuitously timed trade right before the broader crypto market plunged last week. According to blockchain analysis platform Lookonchain, the trader withdrew 22,341 Ether from Binance exchange on August 18th, converting the stash to $41 million
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Digital securities firm Securitize is expanding its offerings of alternative investment assets to major cryptocurrency industry players by acquiring the $40 billion crypto asset manager Onramp Invest. The purchase provides Securitize access to Onramp's large base of registered investment advisor (RIA) customers, including major crypto fund issuers and
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The Shiba Inu crypto project has restarted its layer-2 blockchain network Shibarium after a brief pause in block production that lasted nearly a full day. According to the Shibarium block explorer Shibariumscan.io, the network has resumed generating new blocks after entering a fail-safe mode on August 17 that stopped
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Discover the rise of Bitcoin gambling, its rapid popularity growth, and the evolving opportunities and challenges in this exploration. Bitcoin gambling has become increasingly popular as a novel fusion of cryptocurrencies and gaming. This novel idea offers a new angle on online betting by utilizing the decentralized nature of Bitcoin.
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According to the latest NFT news, the video game company The Sandbox has deployed new tools to help creators build experiences in preparation for the platform's upcoming publishing launch, according to a company announcement. The publishing feature, expected to roll out fully by late 2023, will allow LAND
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OKB, the utility token of the OKX cryptocurrency exchange, declined 5.42% over the past 24 hours to $42.42. This extends the negative momentum for OKB after a rough week that saw the token fall 11.17%. With a market capitalization of $2.55 billion, OKB remains one of
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Cosmos (ATOM) declined 7.85% over the past 24 hours to $7.48, as the interoperability-focused blockchain project fell in line with broader weakness across the crypto assets. This selloff comes on the heels of a 10.83% drop over the past week for ATOM. With a market capitalization of