The DEX’s operating expenses currently amount to $5 million per year. According to a new proposal dated Dec. 6, Jared Grey, CEO of decentralized exchange Sushiswap (SUSHI), disclosed that the project’s Treasury has less than 1.5 years of runaway left, and the “significant deficit in the treasury threatens Sushi’s operational viability, requiring an immediate remedy.”...Continue Reading

Tony Fadell, the man behind the iPod, iPhone and Nest Thermostat, collaborates with major crypto wallet firm Ledger to build a new cold wallet. Hardware wallet provider Ledger, known for its cold-storage devices, announced its seventh crypto wallet in collaboration with the creator of the original iPod. Tony Fadell, the inventor of the iconic iPod...Continue Reading

While CBDCs will cater to local demands, cooperation between countries could facilitate and support the widespread adoption of readily-available stablecoins. For over 14 years, central banks worldwide have seen blockchain technology deliver highly secure, immutable, verifiable and transparent financial ecosystems, starting with the Bitcoin network. Central bank digital currencies (CBDCs) stood out as one of...Continue Reading

Bitcoin mining difficulty has dropped by its biggest margin since July 2021 amid difficult conditions for miners. Tough market conditions continue to affect the Bitcoin (BTC) ecosystem as mining difficulty drops by its biggest margin since July 2021. A 7.32% difficulty adjustment took place on Dec. 6 at block height 766,080, marking the sharpest drop...Continue Reading

A Twitter user from the United Kingdom spent hours sending micropayments to strangers on the internet to demonstrate the Bitcoin Lightning Network. A Bitcoin (BTC) advocate on Twitter known by the name of ShireHodl, or simply Shire, sent over 110 micropayments to first-time Bitcoin Lightning users in response to Michael Saylor’s Lightning Network pool.  Shire asked those new...Continue Reading

Saylor calls SBF the “poster child of the crypto world” while breaking down his antics, which ultimately brought the downfall of his empire. In a recent interview Michael Saylor, the MicroStrategy executive chairman and major Bitcoin (BTC) bull, shared his perspective on the fall of the FTX empire. Saylor said that for years there has...Continue Reading

On stage at AfroBitcoin, Strike CEO Jack Mallers announced plans to improve remittance payments into Africa thanks to the Lightning Network on Bitcoin. The Lightning Network has struck Ghana, Kenya and Nigeria. During a conference in Ghana, Strike CEO Jack Mallers announced that the Bitcoin (BTC) payments company has partnered with the mobile app Bitnob to facilitate...Continue Reading

The regulatory amendments will broaden the powers of the country’s financial regulator and put the crypto industry under tighter scrutiny. Despite the Conservative Party’s rhetorical embracement of crypto under the new Prime Minister Rishi Sunak, the upcoming regulatory framework will reportedly tighten scrutiny over the industry. The legislation updates will broaden the powers of the...Continue Reading

Celsius halted withdrawals on the platform on Jun. 13 and filed for bankruptcy a month later on Jul. 14. Bankrupt crypto lender Celsius was granted an extension on its exclusivity period until Feb. 15, 2023. The court approval would give the troubled crypto lender another couple of months to file for a Chapter 11 restructuring...Continue Reading

The Texas State Securities Board (SSB) invited the former CEO to attend the hearing on the alleged sale of unregistered securities on Feb. 2. Welcome to Law Decoded, your weekly digest of all the major developments in the field of regulation. There was some substantial good news for crypto last week, but the prevailing storyline...Continue Reading