Author: Judith Faith

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Judith Faith

Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry. She is passionate about helping to foster the growth of the industry and believes in the power of blockchain technology to revolutionize the world.

Articles by Judith Faith

Sam Bankman-Fried Secures Small Victory in Court

13 hours ago 1 min read

The US District Judge Lewis Kaplan’s decision to impose severe restrictions on Sam Bankman-Fried’s (SBF) communications in January had been a difficult one for the disgraced FTX boss. After suffering through the blanket comms ban, Bankman-Fried’s defense team, led by Mark Cohen, has negotiated with prosecutors and won a reprieve. SBF will be able to continue communication with current and former FTX employees, as well as family and friends, as long as he abides by a non-contact order. In exchange for this, Cohen has agreed to impose a complete ban on SBF’s cryptocurrency activities and a $1,000 limit on personal

Walmart’s Sam’s Club has filed trademarks for crypto and NFTs

17 hours ago 0 mins read

Sam’s Club, owned by Walmart Inc., has filed trademarks for cryptocurrency and NFTs in preparation to offer digital goods and blockchain-based software. The retailer is already offering augmented reality and virtual healthcare services and has shown interest in the metaverse with the launch of Bulkcoin in 2018. The trademarks allow Sam’s Club to manage NFTs, provide digital goods like home decorations, toys, personal care products, and sporting equipment, and launch a blockchain-based wallet and other software. Walmart is also reported to be hiring for cryptography and cybersecurity positions for a blockchain initiative.

Hacker Acquires stETH on Large Margin using Wormhole

1 day ago 1 min read

The funds from the Wormhole hack, which was the largest inter-blockchain bridge loss of $325 million, have been linked to a leveraged bet on LidoDAO’s staked ETH (stETH). The thief used a series of looping transactions with LidoDAO’s stETH and MakerDAO’s DAI to become the world’s fifth-largest stETH holder. Chainalysis detected the first movements of the stolen Wormhole Ether on January 30, 2023. The stolen funds were converted into stETH and used as collateral to borrow DAI, which was used to buy more stETH in a repeating process. The upgraded Ethereum’s Beacon Chain will allow withdrawals, and LidoDAO plans to

Filecoin’s Protocol Labs Reduces Staff by 21% Amid Crypto Market Dip

2 days ago 1 min read

The crypto industry has been hard hit over the last few months, as the FTX collapse and macroeconomic factors have caused a “crypto winter” that has forced many firms to make deep cuts. Protocol Labs, the creator of decentralized storage network Filecoin, is the latest firm to join the list, announcing that it is cutting 21% of its staff, or 89 jobs. Other firms, including Crypto.com, ConsenSys, and Coinbase, have also announced layoffs in the last few months. These job cuts are part of a broader trend in the tech sector, with crypto making up 4.0% of total layoff numbers

South Korea Regulates Cryptocurrencies as Securities Tokens

2 days ago 2 mins read

The South Korean government has taken a major step towards the legalization of cryptocurrencies with the release of new guidelines defining which digital assets would fall under the regulations applicable to financial securities. On Monday, the Financial Services Commission (FSC) published the guidelines as part of an ongoing review of the digital asset sector and the creation of comprehensive regulations. According to the FSC, blockchain-based tokens that have the characteristics laid out in the country’s Capital Markets Act will be treated and regulated as securities. The Capital Markets Act defines securities as financial investment instruments for which investors do not

OpenSea Introduces Advanced Tools for NFT Creator Drops

5 days ago 1 min read

OpenSea, a non-fungible token (NFT) marketplace, has launched a new suite of tools for creators launching NFT collections on its platform. The first version of Drops offered a unique experience to select partners, but the next phase of the roll-out will give creators the tools to manage their own minting process, including deploying smart contracts, configuring drop mechanics, and personalizing landing pages. The new toolkit will gradually be made available to select creators in the coming weeks before eventually opening to the public. OpenSea aims to expand the product so that anyone can easily drop collections across any blockchain with

83 employees lose jobs as Bittrex streamlines operations

5 days ago 1 min read

Bittrex, a Seattle-based cryptocurrency exchange, has laid off 83 employees, according to the U.S. Employment Security Department’s layoff alert. The company has 284 employees according to LinkedIn’s database. Bittrex co-founder, Richie Lai, cited the market downturn in the crypto ecosystem as the reason for the layoff in an internal email to employees. Bittrex was fined $29 million by the U.S. Treasury Department last October for failing to block sanctioned people from accessing the platform. Bittrex is one of many crypto exchanges that have announced layoffs after the collapse of the FTX exchange in November, including Crypto.com, Coinbase, and Huobi. Bittrex

Mango Markets Exploiter Facing Regulatory Consequences, Says Moody’s

6 days ago 1 min read

Moody’s credit rating firm has stated that recent charges against Mango Markets exploiter Avraham Eisenberg will have a positive impact on the decentralized finance (DeFi) space. The enforcement actions by the SEC and CFTC in January show that DeFi is becoming a safer and more regulated environment. Moody’s sees this as a credit positive for the industry and could lead to wider adoption among institutional and retail investors. The firm suggests that DeFi is no longer a “no man’s land” and that with the potential for a safer environment, it could attract more investors. The CFTC filed charges against Eisenberg

HSBC Seeks New Hire to Drive Tokenization Initiatives

6 days ago 2 mins read

HSBC, one of the largest financial institutions in the world, has made a significant shift in its stance towards cryptocurrencies. On January 30th, the bank announced that it is seeking to hire a product director to lead its new tokenization efforts. This move marks a stark departure from the bank’s previous anti-crypto stance, with CEO Noel Quinn stating as recently as September 2022 that the bank would not be involved in the crypto world. According to the job posting, the new role will be a crucial player in shaping the future of HSBC’s tokenization efforts. The product director will be

BankProv Discontinues Loans Secured by Crypto Mining Equipment

1 week ago 1 min read

Massachusetts-based BankProv has stopped offering loans secured by crypto mining machines and seen its digital asset loan portfolio fall by 50% in Q4 2022. The bank held $41.2 million in digital asset-related loans at the end of December, with $26.7 million being collateralized with crypto mining machines, which “will continue to decline” as the bank is no longer originating this type of loan, according to holding company Provident Bancorp. The decline in the crypto mining industry and the bear market in cryptocurrencies led to a decrease in mining machine prices by 85%, resulting in margin calls and collateral seizures. BankProv

VitaDAO Secures $4.1M Investment from Pfizer Ventures for Longevity Studies

1 week ago 1 min read

VitaDAO, a Decentralized Autonomous Organization (DAO) focused on longevity research, has closed a $4.1 million funding round led by Pfizer Ventures. The funding round also includes contributions from Shine Capital, L1 Digital, BeakerDAO, Spaceship DAO, former Coinbase CTO Balaji Srinivasan and Retro Biosciences’ Joe Betts-LaCroix. VitaDAO was founded in 2021 with the aim of funding research into diseases of aging and cellular biology, and has deployed over $3.5 million towards these goals. The latest funds will be used to fund longevity research projects and to incubate VitaDAO’s first biotech startup. The group is governed by its native VITA token, and

Philippines SEC proposes new crypto rules, opens for public comment

1 week ago 1 min read

The Philippines SEC is seeking public comment on its draft enforcement rules for cryptocurrencies under the Financial Products and Services Consumer Protection Act. The act, approved in May 2022, does not mention specific financial services but the SEC’s draft of rules, published on Jan 20th, classifies crypto as securities and includes “tokenized securities products”. The adoption of cryptocurrencies has increased in the Philippines and regulators are taking steps to regulate the industry. The draft law is open for public comment until February 7th and aims to protect the interests of consumers of financial products and services with transparency, fair and