Gemini called the SEC’s lawsuit as “ill-conceived” against its Earn Product which offered yields to customers against their crypto deposits. Gemini Trust Co., a cryptocurrency exchange, and bankrupt lender Genesis Global Capital have jointly filed for the dismissal of a lawsuit brought by the Securities and Exchange Commission (SEC). The lawsuit claims that their Earn...Continue Reading

The DAI savings rate was previously increased to 1% in December 2022, and led to 35 million DAI being deposited in the span of a month, according to MakerDAO. The community of Ethereum-based decentralized finance (DeFi) protocol MakerDAO will soon vote on a proposal seeking to increase the Dai stablecoin (DAI) savings rate (DSR) to...Continue Reading

JPMorgan’s ChatGPT rival, IndexGPT, will be used across various business units, including advertising, business consulting and various finance-focused software as a service (SAAS) services among others. Finserv giant JPMorgan Chase filed a trademark application for IndexGPT, marking its entry into the race to build a generative AI tool for business purposes. The trademark application was...Continue Reading

Despite hating on crypto for years, and calling NFTs worthless and easy to replicate two years ago, Peter Schiff is set to release an NFT art collection on Bitcoin. In what seems like a parody but isn’t, Economist, gold proponent and avid crypto skeptic Peter Schiff has unveiled a collaborative nonfungible token (NFT) art collection...Continue Reading

Diluted net loss per American depositary share in Q1 2023 stood at $0.51, down from $0.55 in the previous quarter. Chinese Bitcoin mining company Canaan reported slight improvements in some of its financial metrics in the first quarter of 2023. The progress, however, is still far behind where it was last year in this period....Continue Reading

The European Central Bank exercise looked at a variety of use cases, most of which were quite satisfactory, as well as the use of self-custodied wallets. The European Central Bank (ECB) has published a summary of the results of its digital euro central bank digital currency prototyping exercise. The exercise investigated offline use of a...Continue Reading

The executive appears to have now recovered his account. Arthur Madrid, co-founder and CEO of metaverse project The Sandbox, was the victim of a Twitter account hack on May 26, according to a post from Madrid that was apparently made after he recovered the account. The attacker allegedly used Madrid’s account to promote a fake...Continue Reading

On May 15, the chosen projects commenced the 12-week program after being granted seed funding of $30,000. Blockchain startup accelerator Cronos Labs has announced the launch of its second cohort for the Cronos Accelerator Program. The program, backed by a substantial $100 million investment, aims to support early-stage crypto projects by providing mentorship and funding...Continue Reading