Author: Karikari Daniel

Article written by Karikari Daniel

Coinbase has filed an interlocutory appeal against the SEC, accusing the Commission of bypassing the Howey test

May 26, 2024 2 mins read

Coinbase filed an interlocutory appeal against the SEC for skipping the Howey test for securities. Recent legislation, notably FIT21, shows the US SEC’s overreach, the exchange says. Coinbase’s Chief Legal Officer, Paul Grewal, called for clear laws and blasted the SEC’s inconsistencies. Coinbase is using congressional politics to influence its SEC appeal. Coinbase said the SEC “side-stepped” the Howey test in a May 24 court filing. The crypto sector and

DefiLlama Co-Founders Part Ways Over Dispute on Crypto Token Launch

March 20, 2023 1 min read

Decentralized finance (DeFi) data website DefiLlama has become embroiled in a leadership dispute after a single team member attempted to launch a crypto token without wider approval. The controversy has led to the creation of a second, almost identical, site at llama.fi, and allegations of a “hostile takeover.” The dispute centers on a team member identified only as 0xLlam4, who is reportedly attempting to launch the token against the wishes

ArenaDAO’s Governance Token Skyrockets Nearly 50% After Successful Vote on Paradigm Purchase

March 17, 2023 1 min read

ArenaDAO’s governance token, ARENA, has experienced an 11.12% increase in the past hour and a whopping 48.99% surge in the past 24 hours, as the voting period for authorizing crypto investment firm Paradigm to purchase 150 million tokens or 15% of the total supply for $6 million USDC opened. The fully diluted valuation or market capitalization of all tokens in circulation currently stands at $79.8 million, according to Dex Screener,

Euler Finance Hacked: $197 Million Lost in Flash Loan Attack

March 14, 2023 1 min read

Euler Finance, a decentralized lending protocol, was hit by a flash loan attack, resulting in a loss of $197 million. The attack took place at 4:50 am ET, and the perpetrator drained $136 million of staked ether (stETH), $34 million of USDC, $19 million of wrapped bitcoin (WBTC), and $8.7 million of DAI. The security firms BlockSec and PeckShield were the first to report the incident. Euler Labs, the developer

USDC Emerges as the Top Trading Asset on Uniswap and Curve, Breaking DeFi Records

March 13, 2023 1 min read

Decentralized exchanges (DEXs) Uniswap and Curve experienced a surge in trading volumes over the weekend as traders rushed to exchange their USDC holdings for other tokens, particularly wrapped ether (WETH) and tether (USDT). This surge in trading volume resulted in Uniswap recording nearly $12 billion in trading volume over a 24-hour period from Saturday to Sunday, while Curve recorded nearly $8 billion in trading volume. DEXs operate differently than centralized

Crypto Exchange KuCoin in Hot Water for Sale of Unregistered Securities in New York

March 10, 2023 2 mins read

KuCoin crypto exchanges has found itself in hot water after being targeted by the New York State Attorney for engaging in unregistered activities. In a lawsuit filed by Attorney General Letitia James, KuCoin has been accused of selling and purchasing unregistered securities and commodities to users. The legal action also classifies Ethereum, the second-largest cryptocurrency, as an unregistered security. This marks one of the first times a regulator has claimed

Indian Crypto Industry Supports Govt’s Anti-Money Laundering Efforts

March 9, 2023 1 min read

The Indian government has recently brought the crypto sector under the Prevention of Money Laundering Act (PMLA), which has sparked speculation about the future of cryptocurrency regulation in India. Under the new guidelines, all Virtual Digital Assets businesses must conduct and report various activities, such as Know Your Transactions (KYT), transaction monitoring and reporting, address screening and reporting, and Suspicious Activities Reports (SARs) and Suspicious Transactions Report (STRs). While the

Kraken Crypto Exchange Announces Launch of New Crypto Bank in US Amid Regulatory Challenges

March 8, 2023 1 min read

US-based cryptocurrency exchange Kraken is moving forward with its plans to launch a new Wyoming-based crypto bank, despite a recent setback. The US Securities and Exchange Commission (SEC) recently banned Kraken’s staking service, but the exchange has confirmed that Kraken Bank is still on track to launch. Kraken Support responded to a Twitter user’s inquiry, stating that the bank is not open yet but is on its way. The offering

Bybit Launches Mastercard-Backed Debit Card Amid USD Transfer Suspension

March 7, 2023 1 min read

Bybit crypto exchange has announced the launch of a new debit card that will allow users to make payments and withdraw cash using their cryptocurrency holdings. This innovative service is set to operate on the Mastercard network and will enable fiat-based transactions by debiting cryptocurrency balances when used to pay for goods and services. The Bybit card is set to debut with a free virtual card for online purchases, while

Unlicensed Bitcoin ATMs Allegedly Involved in Crypto Scams for Profit, Claims Prosecutor

March 6, 2023 1 min read

Bitcoin of America, a Bitcoin (BTC) technology firm, along with three of its executives, has been indicted for running over 50 unlicensed crypto kiosks in Ohio. The firm is facing charges of money laundering, conspiracy and other crimes. The indictment accuses the firm of knowingly benefiting from victims of cryptocurrency scams, and being able to operate due to “written misrepresentations regarding the nature of their business to government agencies” that

Russian Bank Breaks New Ground with First On-Chain Bank Guarantee in China’s Currency

March 3, 2023 2 mins read

Moscow Credit Bank (MCB) has made a significant breakthrough in the use of blockchain technology by issuing a bank guarantee denominated in Chinese currency, becoming the first bank in Russia to do so. The bank guarantee, which exceeds 100 million Chinese yuan or nearly $144,600 at the time of publication, was executed through the Masterchain blockchain platform, which is the Russian national blockchain network created to transfer digital assets between

Robinhood Introduces Mobile Wallet for Apple Devices

March 2, 2023 1 min read

Trading platform Robinhood has announced the launch of its Web3 wallet on the Apple App Store, bringing it to iOS users in over 130 countries. The multi-chain, self-custody wallet was previously only available via a waitlist, but can now be accessed without delay. The Android version of the wallet is scheduled for release later this year. Since its beta launch in September, the Robinhood Wallet has integrated Ethereum and added