FTX lawyers want to claw back $243.7 million from Embed insiders and executives, claiming its former leadership paid a “wildly inflated” price for the company. FTX’s leadership is looking to claw back more than $240 million from insiders and executives that benefited from FTX’s “wildly inflated” acquisition of stock-clearing platform Embed in September. Cointelegraph reported...Continue Reading

Mastercard and Visa join Hong Kong’s CBDC pilot, new installment in Justin Sun’s Huobi soap opera, and a GameFi token pumps on no news. Hong Kong partners with 16 companies to build CBDCs On May 18, the Hong Kong Monetary Authority (HKMA) announced the launch of the cyber Hong Kong dollar pilot project. According to...Continue Reading

Cuscal, the company that handles AUD on-and-off ramping for the exchange, declined to comment specifically on why it decided to pull support for Binance Australia. The “third party payments provider” for Binance Australia, Cuscal hinted toward the impact of “scams and fraud” as it relates to “account fraud, ID takeover and crypto activity” after being...Continue Reading

The Bitcoin Defense Legal Fund’s chief legal officer spoke out against an “extraordinarily dangerous” lawsuit initiated by Craig Wright, a person who claims to be Bitcoin creator Satoshi Nakamoto. Jessica Jonas, chief legal officer of the nonprofit Bitcoin Legal Defense Fund, discussed the potential legal ramifications of a high profile lawsuit against Bitcoin core developers...Continue Reading

The world’s second-ever CBDC has yet to reach 1% of Nigeria’s population, according to the IMF assessment. Nigeria’s eNaira central bank digital currency (CBDC) is over a year old, and the International Monetary Fund (IMF) has a late birthday present for it, in the form of a working paper assessing its first year of performance....Continue Reading

Ledger’s latest update — aimed at making private seed phrases on its wallets recoverable — was simply an attempt to innovate and improve user security. It’s counterintuitive for a CEO to defend a competitor, particularly when that competitor is rolling out a feature similar to one we pioneered years ago. But given the debacle around...Continue Reading

Whampoa Group started its digital asset arm in 2021 and has invested in a $500 million Binance Labs fund along with TikTok parent ByteDance. The Whampoa Group, a family office based in Singapore, will open a digital bank in Bahrain, the kingdom’s Economic Development Board said on May 18. The Group expects to open the bank...Continue Reading

Developers say third-party apps can’t access Ledger users’ keys without the device owner’s consent. On May 18, crypto hardware wallet provider Ledger clarified how its firmware works after a controversial May 17 tweet was deleted by the company. The deleted tweet, which Ledger said was written by a customer support agent, had stated that it...Continue Reading