Author: Mayowa Adenle

Article written by Mayowa Adenle

Celsius Initiates Fund Withdrawals Following Bankruptcy Filing

March 3, 2023 1 min read

Celsius, a popular crypto lending firm, has recently announced that its customers can now withdraw assets from its platform after eight months of waiting. The announcement came in the form of an official tweet on March 2, revealing that withdrawals are now available for certain custody accounts only. This development follows a court order in January, which authorized Celsius to process withdrawals, but only for assets in a Celsius custody

Binance’s AI NFT Generator Sells Out 10K Mints in 2.5 Hours

March 2, 2023 1 min read

Binance has launched an artificial intelligence-powered non-fungible token (NFT) generator that has already made waves in the digital art world. Known as “Bicasso,” the AI-powered image-generation tool reached its cap of 10,000 NFT mints in just 2.5 hours after launching in beta on March 1st. Bicasso allows users to upload an image or type in creative prompts to generate a bespoke image created with AI. Similar to other AI-art platforms

Solana CEO refutes allegations of on-chain voting causing network outages

March 1, 2023 1 min read

Anatoly Yakovenko, the CEO of Solana Labs, has rejected claims that the Solana network’s recent outages were caused by a large volume of validator messages and on-chain voting clogging up its consensus layer. While the Solana Foundation has yet to identify the root cause of the 20-hour network outage, Yakovenko took to Twitter to dismiss the theory that the decision to include on-chain votes as transactions was a “massive design

Coinbase Suspends Binance USD Trading Amid Regulatory Investigation

February 28, 2023 1 min read

Coinbase, the second-largest cryptocurrency exchange in the world, has announced the suspension of trade in Binance USD (BUSD) as of March 13. The move comes after US regulators began investigating the stablecoin as a possible unregistered security. Coinbase stated that BUSD no longer met their listing standards, prompting the suspension. However, users can still access and withdraw their BUSD after the suspension, as stated by Coinbase on Twitter. BUSD is

Crypto Legal Experts Push Back Against Gensler’s Broad Classification of Digital Assets

February 27, 2023 1 min read

Gary Gensler, the head of the Securities and Exchange Commission (SEC), recently claimed in an interview that every cryptocurrency except Bitcoin is a security that falls under the agency’s jurisdiction. However, cryptocurrency lawyers have quickly rebuffed these comments, insisting that Gensler’s opinion is not legally binding. According to Gensler, other crypto projects are securities because they involve a group in the middle, and the public is anticipating profits based on

Canadian Regulators Introduce New Rules to Tackle Unregistered Crypto Platforms

February 24, 2023 1 min read

Canadian regulators have strengthened their oversight of crypto trading platforms, setting new rules for unregistered platforms in a bid to protect investors. In a notice published by the Ontario Securities Commission, the watchdog stated that it is requiring crypto trading platforms to undergo enhanced pre-registration that includes a prohibition on offering margin, credit, or any other forms of leverage. The move comes after a series of bankruptcies that occurred over

ConsenSys Acquires Blockchain Notification Tool ‘Hal’ for Web3 Development

February 23, 2023 1 min read

ConsenSys, the leading Ethereum development studio, has acquired Hal, a blockchain notification tool, to bolster its Web3 development capabilities. Hal’s technology allows users to create notifications for trading, governance voting, and tax compliance, among other things, by filtering through blockchain data. As part of the acquisition, more than 40 APIs for blockchain listening and signals will be added to ConsenSys’ popular Web3 connectivity layer, Infura. The APIs will make it

Mastercard Expands Payment Options to Include USDC Settlements for Web3 Transactions

February 22, 2023 1 min read

In recent news, Web3 payment protocol Immersve has partnered with payments giant Mastercard to offer users the ability to make crypto payments in digital, physical, and metaverse worlds. This partnership allows for the real-time settlement of cryptocurrency transactions through decentralized protocols. Once a user initiates a transaction using their existing Web3 wallet, USD Coin tokens (USDC), a stablecoin backed by the US dollar issued by Circle, will be converted to

Validators of Toncoin (TON) to vote on freezing 1 billion Toncoins

February 21, 2023 1 min read

The Open Network (TON) validators are gearing up to vote on a proposal to change the tokenomics and supply of the project. A motion to change the Toncoin supply in circulation will be put to the vote by TON validators on February 21. If approved, the supply will be “frozen for the next 48 months and then unfrozen,” resulting in a 20% reduction. According to the team, this suggestion might

Taiwan’s public servants may be required to declare crypto assets

February 20, 2023 1 min read

The Taiwan Ministry of Justice has revealed plans to potentially mandate that public servants declare their crypto holdings as part of their annual property declarations. Currently, public servants in Taiwan must report properties valued over NT$1 million (US$32,900) including cash, securities, and paintings. The proposed regulation would see cryptocurrency assets added to this list, with the change potentially being implemented as early as November 2022. The Ministry of Justice is

Delphi Labs Warns Terra Lawsuit Could Have Implications for Stablecoins Beyond UST

February 17, 2023 1 min read

The United States Securities and Exchange Commission’s (SEC) lawsuit against Terraform Labs and co-founder Do Kwon could serve as a “roadmap” for the regulator to target other stablecoin issuers, according to lawyer Gabriel Shapiro, the general counsel at investment firm Delphi Labs. The SEC filed a complaint on February 16 alleging Kwon and Terraform Labs orchestrated a multi-billion dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto

Former Celsius CEO Alex Mashinsky Faces Lawsuit From Creditors Seeking Millions

February 16, 2023 1 min read

The Official Committee of Unsecured Creditors for Celsius has filed a motion to recover millions from former CEO Alex Mashinsky and other top executives of the bankrupt crypto lender. The committee named Mashinsky, co-founders Shlomi Daniel Leon and Hanoch “Nuke” Goldstein, former CFO Harumi Urata-Thompson, former General Counsel Jeremie Beaudry, former head of Celsius trading desk Johannes Treutler, former VP of Lending Aliza Landes, and Mashinsky’s spouse Kristine Meehan Mashinky