Market News

An 86-year-old ex-lawyer was sentenced to probation and ordered to repay $14M

October 11, 2024 1 min read

In a striking case that underscores the perils of trust in the digital investment landscape, 86-year-old former California lawyer David Kagel has been sentenced to five years of probation and ordered to repay nearly $14 million for his role in a crypto Ponzi scheme. Kagel, who pleaded guilty to conspiracy to commit commodity fraud, exploited his legal credentials to lure investors into a fraudulent crypto trading bot program that promised

Ubisoft to launch its first Web3 game with the Oasys layer 2 HOME Verse

October 11, 2024 1 min read

Ubisoft is set to make waves in the gaming world with the launch of its first web3 game, “Champions Tactics: Grimoria Chronicles,” on October 23rd. This tactical RPG invites players to dive into the dark fantasy realm of Grimoria, where they can assemble teams of unique mythical Champions for exhilarating PvP battles. Developed in collaboration with Oasys and double jump.tokyo, the game aims to seamlessly integrate web3 technologies, allowing players

VanEck Ventures launches $30M fund to support fintech, digital assets, and AI startups

October 9, 2024 1 min read

VanEck, a prominent global investment management firm, has launched VanEck Ventures, a $30 million early-stage fund aimed at investing in innovative startups within the fintech, digital assets, and artificial intelligence sectors. This move signifies VanEck’s strategic foray into venture capital, aligning with its historical approach of identifying transformative investment opportunities early on. The fund is exclusively available to Qualified Purchasers and carries significant risks, making it essential for potential investors

Bybit Announces 24-hour Flash Airdrop: New 100,000 USDT Prize Pool for WSOT 2024 Participants

October 9, 2024 3 mins read

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is keeping the surprises coming for participants of the world’s longest-running crypto trading competition, the World Series of Trading (WSOT) 2024. For 24 hours until 9:30AM UTC on Oct. 10, Bybit WSOT participants can join in to unlock a 100,000 USDT prize pool for one time only. In addition to various winning tracks and mechanisms and a total prize pool of

Binance held a cybersecurity seminar for Mexican law enforcement

October 9, 2024 1 min read

In a significant move to bolster cybersecurity and combat financial crime, Binance recently hosted a training seminar in Mexico City for around 35 law enforcement officials from various agencies. The seminar, which focused on the intersection of virtual assets and crime, is part of Binance’s broader initiative to collaborate with law enforcement globally. Felipe de Jesús Gallo Gutiérrez, head of Mexico’s Criminal Investigation Agency, underscored the necessity for public servants

Robinhood’s top lawyer Dan Gallagher is a leading contender to replace SEC Chair Gary Gensler if Trump wins

October 8, 2024 1 min read

Dan Gallagher, the chief legal officer at Robinhood and a former SEC commissioner, is emerging as a potential replacement for SEC Chairman Gary Gensler should Donald Trump win the presidency. According to a report by Politico, Gallagher is favored by several former regulators and securities lawyers, particularly in light of the SEC’s ongoing scrutiny of Robinhood’s crypto operations. Gallagher has downplayed the SEC’s investigation into Robinhood, arguing that the company

Cardano founder applauds Sui’s fast growth and unique approach

October 6, 2024 1 min read

Charles Hoskinson, the founder of Cardano, recently commended the Sui Network for its impressive advancements and innovative contributions to the blockchain industry. He particularly recognized George Danezis, co-founder of Mysten Labs, for his pivotal role in developing Sui, which has the potential to achieve notable success in the sector. Launched in 2023, Sui is a Layer-1 blockchain designed to streamline and improve the development of Web3 applications. It employs the

The IMF wants El Salvador to limit “public sector exposure to Bitcoin”

October 5, 2024 1 min read

The International Monetary Fund (IMF) has advised El Salvador to limit its Bitcoin law and reduce public exposure to the crypto. During a press conference, IMF spokesperson Julie Kozack emphasized the need for a narrower scope of the Bitcoin law, enhanced regulatory frameworks, and oversight of the Bitcoin ecosystem. This recommendation is part of ongoing discussions between the IMF and El Salvador, focusing on addressing the risks associated with Bitcoin.

Vitalik Buterin endorses SuperchainERC20 for enhanced Ethereum interoperability

October 5, 2024 1 min read

Vitalik Buterin, co-founder of Ethereum, has recently endorsed a major update to the SuperchainERC20 protocol, as outlined in a GitHub pull request by Optimism. This redesign introduces a new cross-chain interface aimed at enhancing collaboration among Ethereum infrastructure entities and creating a more cohesive ecosystem. The update focuses on revamping the SuperchainERC20 standard by incorporating the SuperchainERC20Bridge and the ICrosschainERC20 interface, which are expected to significantly improve Ethereum’s scalability and

Brazil’s Central Bank is integrating DeFi elements into its Drex CBDC project

October 5, 2024 1 min read

Brazil’s Central Bank is making significant strides in its Drex central bank digital currency (CBDC) project by incorporating decentralized finance (DeFi) elements. Currently in its second pilot phase, the initiative aims to boost financial inclusion and enhance transaction efficiency in Brazil’s digital economy. The pilot will test various applications, including the tokenization of real estate and the establishment of liquidity pools for public securities trading, utilizing smart contracts and decentralized

Bitwise’s XRP ETF Faces Roadblocks: SEC Appeal and Political Landscape

October 5, 2024 1 min read

Bitwise recently filed for an XRP ETF, sparking discussions among industry experts about how the upcoming US election might impact its approval. The SEC’s ongoing appeal against Ripple Labs adds uncertainty, potentially delaying the ETF’s fate. Bitwise’s filing, along with another from Canary Capital, highlights a growing interest in direct crypto asset funds, although regulatory clarity remains a challenge. XRP, valued at $33 billion, is seen as a key player

Ripple’s CLO slams the SEC’s latest appeal in the ongoing XRP legal battle

October 4, 2024 1 min read

Ripple’s Chief Legal Officer, Stuart Alderoty, has expressed strong criticism of the U.S. Securities and Exchange Commission’s (SEC) recent appeal regarding XRP, which challenges a previous ruling that deemed XRP not a security. This appeal follows a ruling by Judge Analisa Torres, who imposed a $125 million fine on Ripple, significantly less than the SEC’s initial demand of $2 billion. Alderoty described the SEC’s move as disappointing and indicative of