The team said it has already lined up clients, including CoinList, Bitso and TrueUSD. A team of former Jane Street and PIMCO traders have raised $15 million to produce a proof-of-solvency protocol for centralized exchanges, stablecoin issuers and other asset managers in the crypto space, according to a press release from the team shown to...Continue Reading

The central bank of Ukraine sees crypto as a threat to macro-financial stability and a promising opportunity for better payments at the same time. The National Bank of Ukraine (NBU) has expressed a mixed stance on cryptocurrencies like Bitcoin (BTC) after a year of war in the country. The central bank of Ukraine sees both...Continue Reading

Cassava Network’s recent v3 product launch allows Africa’s Web2 users to get onboarded to Web3 while earning rewards and increasing their income. Cassava Network — an African Web3 platform focused on nonfungible tokens (NFTs), gaming and loyalty rewards — has launched the third version of its platform, featuring integration with noncustodial smart contract wallet UniPass,...Continue Reading

Trezor plans to build its hardware wallet chips, but other crypto companies still prefer third-party imports due to technical and financial barriers. Crypto wallet maker Trezor recently decided to start manufacturing its own hardware wallet chips to respond quickly to demand-triggering events like the FTX collapse. Trezor announced on Feb. 27 that it would begin...Continue Reading

Bitcoin longs get punished by relatively small BTC price losses as BTC/USD trends towards significant support lines. Bitcoin (BTC) traders remain sensitive even to small price movements as data shows liquidations climbing. As BTC/USD approaches $21,600 on March 9, those who are long BTC are seeing positions evaporate. Longs begin to disappear with BTC at...Continue Reading

The investment branch of FTX, Alameda Research, reached an agreement to sell its interest in Sequoia Capital for $45 million in cash to the Abu Dhabi sovereign wealth fund. The latest update in the FTX bankruptcy case comes as a new deal was struck between the defunct cryptocurrency exchange and Abu Dhabi. A court document...Continue Reading

Bitcoin ordinals have been the most hyped-up Web3 trend of 2023 so far. How do ordinals compare to traditional NFTs, and what are the opportunities? Ordinals vs. traditional NFTs Ordinals are different from traditional NFTs from a technical design perspective. There are several features that make the pricing for ordinals a different exercise.  Bitcoin ordinals,...Continue Reading

The proposed stablecoin, the Satoshi Nakamoto dollar, aims to be entirely free from any movements of USD, which require banking services. Amid the United States regulators increasingly scrutinizing stablecoins, the community continues to pitch new ideas of stablecoins independent from the U.S. dollar. Arthur Hayes, co-founder and former CEO of BitMEX cryptocurrency exchange, has proposed...Continue Reading

Given the difficulties with classification, BaFin highlights the freedom of nonfungible tokens from licensing demands. Federal Financial Supervisory Authority of Germany (BaFin) is not ready to classify nonfungible tokens (NFTs) as securities yet. The Agency suggests classifying the NFTs on a case-by-case basis.  On March 8, the BaFin journal published an explanatory note considering NFTs...Continue Reading

A U.S. judge denied the request to consolidate, saying that the defendants had not had the opportunity to respond. A federal judge has refused to consolidate several proposed class-action lawsuits against the FTX exchange by investors. According to the judge, the exchange and its defendants have not yet been heard.  Excerpt from the order denying...Continue Reading