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Do Kwon, sent a lot of money to a law firm in the country just before the Terra Luna collapse
1 year ago 2 mins read

Terra Co-Founder Do Kwon Reportedly Sent Millions to Law Firm Before Crash

South Korean prosecutors have revealed that Do Kwon, the CEO of Terraform Labs, sent a significant sum of money to a prominent law firm in the country just before the Terra stablecoin and Luna cryptocurrency collapsed a year ago. The move sent shockwaves throughout the industry and created a domino effect. Over the following months, Kwon sent a total of $3 million to Kim & Chang, which is now being investigated by Singaporean law enforcement. If Kwon is found to have liquidated illicit cryptocurrency assets to pay for legal representation, embezzlement charges may be brought against him. Both countries hope

MoneyGram Fintech Chief: Blockchain is Unstoppable Despite Bad Press
1 year ago 2 mins read

Blockchain is here to stay, says MoneyGram’s Fintech Strategy Head

As the world continues to undergo digital transformation, blockchain technology, and cryptocurrencies are increasingly gaining traction in the realm of global remittance. However, despite their potential to revolutionize the payment landscape, the journey to mainstream adoption is fraught with challenges, particularly real-world applicability. According to Luther Maday, Head of Fintech Strategy and Innovation at MoneyGram, achieving the “last mile” is crucial to achieving mass adoption. This refers to the ability of individuals to seamlessly transfer cryptocurrencies and use them for everyday purchases, such as buying bread. MoneyGram has been closely monitoring the cryptocurrency space and acknowledges the increasing number of

UK Sets Up Department to Spearhead Metaverse and Web3 Plans
1 year ago 1 min read

UK Creates New Tech Department to Develop Metaverse and Web3 Strategy

The U.K.’s recently formed Department of Science, Innovation and Technology is set to lead the country’s metaverse and Web3 strategy, according to an unnamed source familiar with the matter. The department’s work will focus on potential economic growth opportunities, investment, and business models associated with concepts like the metaverse and Web3, along with their implications for regulation. The move comes after the U.K. government’s 2023 Spring Budget stated its intentions to “lead on the future of web technology,” with the new tech department set up in February to spearhead the initiative. While investment bank Citigroup values the metaverse at $13

Sotheby's Brings Back Digital Art Sale After Diversity Concerns
1 year ago 1 min read

Sotheby’s Revives Digital Art Sale After Facing Criticism Over Representation

Sotheby’s has announced the relaunch of its “Glitch: Beyond Binary” art sale, featuring 34 lots of non-fungible tokens (NFT) from artists in the “glitch art” movement. The sale comes as a reboot of last month’s “Glitch-ism” auction, which faced criticism for its lack of female artist representation. Bidding for “Glitch: Beyond Binary” will open on April 19 and will feature artists from diverse backgrounds and identities, including those of different gender expressions, sexual orientations, races, ethnicities, and neuro-types. Sotheby’s has enlisted Dina Chang and Dawnia Darkstone to co-curate the sale, ensuring greater representation and diversity in the artwork showcased. Glitch

US House of Representatives is continuing to press SEC
1 year ago 1 min read

Financial Services Chair McHenry Continues Investigation into SBF Arrest with Second SEC Request

The leadership of the United States House of Representatives Financial Services Committee is continuing to press Securities and Exchange Commission (SEC) Chairman Gary Gensler for records related to the arrest of former FTX CEO Sam Bankman-Fried. Committee chair Patrick McHenry and Oversight and Investigations Subcommittee chair Rep. Bill Huizenga sent a sharply worded letter to Gensler on Feb. 10, demanding records and communications between and among both the SEC’s Division of Enforcement, the Office of the Chair, and the Department of Justice (DOJ). Bankman-Fried was scheduled to appear before the Financial Services Committee, but his arrest prevented him from testifying.

Revault Network Bought Out by Mati Greenspan’s Quantum Economics
1 year ago 1 min read

Mati Greenspan’s Quantum Economics Secures Revault Network Acquisition

On April 13, Mati Greenspan’s Quantum Economics announced its acquisition of Revault Network, a decentralized finance (DeFi) platform that allows users to find the highest-return vaults without the need to choose where to deposit their funds. The acquisition includes assets and intellectual property from the Revault Foundation and its subsidiaries, as well as the transfer of Revault founders’ tokens to Quantum Economics’ own DeFi project, Layered Cake Protocol. Despite the acquisition, Revault Network’s DAO will continue to operate and vote on development decisions. This marks the first time an Israel-based company has purchased a DAO. Revault Network’s REVA token will

Bitcoin Miners in Sweden Reeling as Government Implements Tax Hike
1 year ago 1 min read

Swedish Bitcoin Miners Forced Out of Business as Government Implements Tax Increase

Sweden is set to end tax incentives for data centers in July, signaling potential doom for the country’s bitcoin mining industry. Once a haven for Bitcoin miners due to the availability of cheap hydroelectricity and cool climate, Sweden is one of the last regions in Europe where the industry has been profitable. However, spiking energy prices driven by the Ukraine war had already forced some miners to turn off their operations partly in 2022, even in these northernmost parts of Europe. With energy prices having stabilized in 2023, a tax hike on the energy use of SEK 0.36 ($0.035) per

Consensys said 7,000 MetaMask users had their private information compromised between August 2021 and February 2023.
1 year ago 1 min read

Consensys Reports Security Breach: 7,000 MetaMask Users Affected

Consensys, a blockchain software firm, has revealed that the personal data of thousands of MetaMask users who had contacted customer support over an 18-month period was breached. According to the company, an estimated 7,000 individuals had their private information compromised between August 2021 and February 2023. The information breached includes email addresses and limited personal information needed to identify customers for support needs. It is important to note that MetaMask’s browser extension and mobile app users were not impacted by the breach. Consensys disclosed that the fraudsters gained access to a third-party service provider that MetaMask uses to create customer

Mastercard adds NFTs to its offerings with free music pass NFTs for users
1 year ago 1 min read

Mastercard releases free music pass NFTs with exclusive benefits for holders

Mastercard, a payments processing firm, has introduced a Music Pass NFT drop, which is available for free until the end of April. The digital collectible is part of the Mastercard Artist Accelerator program, which was launched in January. The Music Pass NFT provides collectors with numerous benefits, such as an AI-powered music generator app, educational resources, and access to a live concert in June featuring artists in the company’s accelerator program. The Music Pass NFT is being launched on Polygon, which is an Ethereum scaling network that has been adopted by various brands such as Starbucks, Nike, and Reddit for

Push Protocol
1 year ago 1 min read

Push Protocol Wallet drops wallet-to-wallet video chatting capability

Push Protocol, a decentralized communication network, has released a wallet-to-wallet video chatting feature on its Web3 messaging platform. The platform launched on the Ethereum network in January 2022 and later expanded to Polygon and the Binance Smart Chain. Push Chat launched in October 2022, enabling users to send messages between wallets. With the addition of the video calling feature, the platform aims to enhance the Web3 experience by allowing users to token-gate or NFT-gate exclusive video calls with influencers or celebrities. It also allows crypto-inclined individuals to transact without relying on peer-to-peer platforms such as Gmail or Zoom. Harsh Rajat,

Uniswap DeFi token swap service
1 year ago 1 min read

Uniswap wallet now available on iOS App Store after initial hurdles

Uniswap, the popular decentralized finance (DeFi) token swap service, has announced that its mobile wallet has been approved by Apple’s iOS App Store. According to the update on the project’s blog, the wallet will now be available for use in several countries, with the aim to extend availability further as Apple allows it. Until recently, Uniswap’s features were mostly aimed at desktop browser users, but the mobile wallet will allow DeFi users to access most of the platform’s features on their mobile devices. However, Uniswap encountered difficulties launching its wallet on iOS devices due to Apple’s strict app store guidelines.

The US SEC Chair Gary Gensler faces a congressional subpoena threat if the regulator fails to provide info related to Sam Bankman-Fried
1 year ago 2 mins read

Gensler faces backlash from Republicans for lack of Bankman-Fried transparency

The Securities and Exchange Commission (SEC) Chair Gary Gensler faces a congressional subpoena threat from House Republicans if the regulator fails to provide information related to the charges brought against Sam Bankman-Fried, the failed crypto mogul. The Republicans are demanding the staff memo recommending charges for Bankman-Fried, as well as other information related to the charges filed by the agency against him. The congressional probe centers around the timing of Bankman-Fried’s arrest, which occurred the night before he was to testify before the House committee alongside caretaker FTX CEO John Ray III in December. House Financial Services Committee Chair Patrick

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