The new exchange does not custody customer funds itself to avoid a conflict of interest — and a hot-button issue with the SEC. EDX, a cryptocurrency exchange launched a week ago with the backing of traditional finance heavyweights such as Citadel Securities, Fidelity Digital Assets and Charles Schwab, is reportedly preparing to switch custody providers,...Continue Reading

The launch announcement followed expansion moves by Bitfinex into El Salvador and Chile through licensing and partnerships, respectively. Digital asset exchange Bitfinex has launched a peer-to-peer (P2P) trading platform in Venezuela, Argentina and Colombia. In a June 27 announcement, the crypto exchange said it had started the “Bitfinex P2P” platform allowing users in the South...Continue Reading

Quivr allows users to connect multiple apps, including Spotify, Steam and Instagram, to generate behavior-based badges proving their interests. A Web3 app launched on June 27 lets users prove their social credibility using blockchain technology, according to an announcement from the app’s development team. Called “Quivr,” it lets users connect apps they regularly use, such...Continue Reading

The permissionless, collateralized fixed-rate borrowing and lending market restored operations in May and will now switch out user tokens worth $1.5 million. Yield Protocol announced on June 27 that it had fully recovered from the Euler flash loan attack. Liquidity providers can now update their strategy tokens, the protocol said on Twitter. That was the...Continue Reading

Former FTX CEO Sam Bankman-Fried will likely still face 13 criminal counts over two separate trials starting in October 2023 and March 2024. A federal judge overseeing the case against former FTX CEO Sam Bankman-Fried (SBF) has denied motions from his legal team seeking to dismiss all but three criminal charges against him. In a...Continue Reading

More than $208.5 million was lost initially, but approximately $4.5 million was recovered, making the total amount of unrecovered funds over $204 million. Over $204 million was lost in decentralized finance (DeFi) hacks and scams in the second quarter of 2023, according to a June 27 report from Web3 portfolio app De.Fi. The report, titled...Continue Reading

A popular name on Twitter, trader Michaël van de Poppe was interviewed for the 10th episode of Cointelegraph’s Crypto Trading Secrets podcast. Cointelegraph’s Crypto Trading Secrets podcast has published its 10th episode, featuring an interview with trader Michaël van de Poppe, who caters to an audience of more than 650,000 on Twitter under the handle...Continue Reading

“Decentralized financial ecosystem continues to develop in complexity, and it is important to address emerging risks,” said FSA official Mamoru Yanase. On June 26, Japan’s financial regulator, the Financial Services Authority (FSA), announced a partnership with the Monetary Authority of Singapore (MAS) for the joint regulation and pilot testing of cryptocurrency projects in accordance with...Continue Reading

VASP expenditures are varying between 20 million to 200 million Hong Kong dollars as firms scramble to find Web3 talent for licensing. According to a June 27 report by local news outlet Foresight News, Web3 firms in Hong Kong are spending anywhere between 20 million to 200 million Hong Kong dollars ($2.55 million to $25.5...Continue Reading

The report came exactly one year since a court in the British Virgin Islands ordered Three Arrows Capital into liquidation. Teneo, the liquidators behind bankrupt hedge fund Three Arrows Capital (3AC), are reportedly seeking to recover roughly $1.3 billion in funds from founders Su Zhu and Kyle Davies. According to a June 27 Bloomberg report,...Continue Reading