Four legal claims were dismissed by the court, while three others were allowed to proceed. A judge has partially denied a motion moved by Aptos Labs CEO Mo Shaikh to dismiss a lawsuit filed by Shari Glazer, who claims to be cheated out of equity as an early investor. According to a court transcript published...Continue Reading

The city will allow taxpayers to make crypto payments through third-party service providers. The city of Rio de Janeiro is seeking crypto firms to operate its tax property seasoning in 2023, according to a decree published on Oct. 11, allowing taxpayers to use crypto alongside fiat currency to pay tributes. The move makes Rio the...Continue Reading

The acting U.S. official added nuance to his well known skepticism about the crypto industry, but warns against accommodation, in speeches on risk and regulation. United States acting controller of the currency Michael Hsu acknowledged his skepticism about cryptocurrency and clarified his position on regulation in two thematically linked lectures October 11. “While I am...Continue Reading

Michael Barr suggested financial institutions engage with U.S. regulators to ensure “safe, sound, and legally permissible” activities around use cases of innovative technologies. Michael Barr, the vice chair for supervision for the United States Federal Reserve, warned banks of the potential risks of crypto-related activities, suggesting crypto service providers be subject to similar regulations as...Continue Reading

The numbers represent a 74% decrease from peak levels witnessed just ten months ago. According to game statistics site Activeplayer, the average monthly number of users playing monster-battle nonfungible tokens (NFT) game Axie Infinity has fallen to 701,447, representing levels not seen since January 2021. At its peak, monthly Axie Infinity players hit 2.78 million...Continue Reading

Kim Kardashian disclosed that she was paid for promoting Ethereum Max — but didn’t tell her followers the exact amount. The SEC did the right thing when it fined her for that oversight. In June 2021, Kim Kardashian published an Instagram story informing her approximately 330 million Instagram followers about the EthereumMax (EMAX) crypto token....Continue Reading

The Web3 platform will focus on expanding its team globally and onboarding several more blockchains in the upcoming months. Nxyz, a Web3 platform enabling data infrastructure for blockchains, secured $40 million in Series A funding led by venture firm Paradigm with additional participation from Coinbase Ventures, Greylock Partners and Sequoia Capital. Angel investors also participated,...Continue Reading

The advocacy group alleged OFAC “exceeded their statutory authority” in sanctioning Tornado Cash because the mixer was a “privacy tool beyond the control of anyone.” United States-based crypto policy advocacy group Coin Center has followed through with its intention to take the Treasury Department’s Office of Foreign Asset Control, or OFAC, to court over sanctioning...Continue Reading

The Solana DeFi protocol suffered a $117 million exploit on Oct. 11, and the hacker wants 70M USDC in “bug bounty.” On Oct. 12, one day after $117 million was drained from Solana DeFi platform Mango Markets via a price feed exploit, the hacker responsible for the attack demanded a settlement. The proposal was filed...Continue Reading

Tokenomics aimed at financing worthless models, rampant hacks, and a lack of real-world utility have played a role in the beleaguered crypto market’s decline. Decentralized finance (DeFi) led cryptocurrency’s rapid growth in early 2021, but the crypto market has since plummeted in value. Global markets have played a role, but so has recklessness among developers...Continue Reading