The U.S. District Court for the District of Wyoming dismissed Custodia Bank’s plea for a Federal Reserve master account. Custodia Bank, specializing in digital assets, has been seeking a master account from the Federal Reserve since 2020. The account, often described as “a bank account for banks,” is crucial for accessing the Fed’s payment systems. The Wyoming-based...
Consensys, the software company behind MetaMask digital wallet, is calling on U.S. regulators to recognize the advanced safeguards inherent in the design of Ethereum (ETH). The Fort Worth, Texas-based firm penned a letter in response to the U.S. Securities and Exchange Commission’s (SEC) recent request for public comments on Nasdaq’s pending application for a rule change to permit the trading of iShares...
As Sam Bankman-Fried was sentenced to 25 years in prison, meme coin enthusiasts placed their bets on a knock-off FTX meme coin humorously named Sam Baseman Fraud. On Thursday, Judge Lewis Kaplan sentenced the disgraced FTX founder to a total of 300 months in prison on several counts of fraud, money laundering, and attempted witness tampering. One developer saw the news as...
Ethereum co-founder Vitalik Buterin is becoming more vocal about the current meme coin craze. “I want to see higher quality fun projects that contribute positively to the ecosystem and the world around them (and not just by ‘bringing in users’) get more mindshare,” Buterin wrote on Friday, March 29. “At the least, more good memecoins than bad ones, ideally those...
Last week, a predominantly bullish trend occurred among the sector’s top cryptocurrencies, primarily attributed to a rise in the price of Bitcoin (BTC). Altcoins such as Shiba Inu (SHIB) and ORDI (ORDI) experienced substantial gains, riding on Bitcoin’s momentum. The upsurge observed in the market culminated in a 4.3% increase in the global crypto market capitalization, which...
Three blockchain specialists scored venture capital this week — a bullish indicator that, perhaps, investors are once again warming up to the web3 sector. Peaq On March 27, Peaq — a layer-1 (L1) blockchain designed specifically for decentralized physical infrastructure networks (DePINs) — announced a successful Series A funding round, raising $15 million. Generative Ventures and Borderless Capital led the effort, with...
Merkle Manufactory, the brains behind the Farcaster network, is reportedly on the brink of securing a major funding round that values the company at approximately $1 billion. This development, first reported by Bloomberg, is a significant milestone for the Los Angeles-based firm. Former Coinbase executives Dan Romero and Varun Srinivasan co-founded the company in 2020. Now, it is poised to hit...
“By no stretch can Mr. Storm be deemed to have conspired to launder funds,” Storm’s attorneys argued in a March 29 filing with the U.S. District Court for the Southern District of New York. Storm’s lawyers claimed that Tornado Cash “became immutable” and made publicly available before being used by the hacker groups sanctioned by the U.S. Department...
Last week saw significant legal developments across the cryptocurrency sector, including Sam Bankman-Fried’s sentencing, regulators’ demanding $2 billion from Ripple, and an indictment against KuCoin. Concurrently, Bitcoin (BTC) reclaimed $70,000 as spot BTC ETFs recorded inflows. FTX founder sentenced to 25 years FTX founder Sam Bankman-Fried received a 25-year sentence in prison. Shortly before the sentencing, the U.S. Department...
The Telegram messenger has unveiled a new revenue sharing system that allows channels’ owners to get 50% of revenue from ads displayed on their channels. In a blog post on Mar. 31, Telegram announced the launch of a new revenue sharing program that aims to bolster its platform’s appeal to content creators. Described as the “most generous reward systems in the...
