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Representatives of unsecured creditors for Voyager Digital
1 year ago 2 mins read

Voyager Creditors Seek Justice: FTX Executives Face Subpoenas Over Debt

Representatives of unsecured creditors for Voyager Digital have subpoenaed former FTX CEO Sam Bankman-Fried (SBF) and other top executives of the bankrupt crypto exchange. The subpoenas are related to FTX’s attempt to bail out Voyager Digital when the crypto lender went bankrupt in July 2022. FTX US wanted to acquire Voyager and reached a deal for about $1.5 billion with the lender. However, the Texas Security Board opposed the deal stating that FTX was not registered with the regulator. The subpoenas ask that executives produce documents, information, and objects about the loan agreement between Alameda Ventures and Voyager. The filing

Binance has been hit with allegations of secretly moving over $400 million
1 year ago 1 min read

Binance.US Addresses Allegations of Secret $400 Million Bank Transfers

Binance has been hit with allegations of secretly moving over $400 million from its US affiliate to a trading firm linked to its CEO, Changpeng Zhao. A recent report by Reuters claims that between January and March 2021, a Silvergate Bank account named BAM Trading, which is operated by Binance.US, transferred these funds to Merit Peak, a market maker managed by Zhao himself. However, Binance has denied these allegations and stated that it has no access to the bank accounts held by its US partner. The company clarified that only Binance.US employees have access to these accounts, and the transfers

Zambia's central bank and securities regulator are collaborating to explore the potential of blockchain technology to regulate crypto
1 year ago 1 min read

Zambia’s Finance Minister Mutati announces test run of crypto regulation technology

Zambia’s central bank and securities regulator are collaborating to explore the potential of blockchain technology to regulate cryptocurrencies, according to the country’s Technology and Science Minister Felix Mutati. The country is aiming to promote digital financial inclusion and become a technology hub in Africa by developing its digital infrastructure and attracting investments in the sector. Zambia’s government previously signed a memorandum of understanding with Overstock’s blockchain land registry subsidiary to provide digital ownership certificates and access to financial markets for rural landowners. African countries are paying increasing attention to cryptocurrency and the development of regulatory frameworks. The International Monetary Fund

Klaytn Foundation
1 year ago 1 min read

Klaytn Foundation Announces New Tokenomics and Governance Models for KLAY

Klaytn Foundation is making changes to the governance and token model of KLAY, the native token of the Klaytn blockchain. In a statement to CoinDesk, the Foundation announced plans to transition the network to a permissionless validator structure, enabling the public to participate as block validators and introducing a communication channel for community members to participate in decision-making processes. These changes are expected to improve Klaytn’s technical capabilities, revenue sustainability, and decentralization aspects while increasing the value of KLAY over time. The Foundation will work with the Klaytn Governance Council to implement these changes and promote projects based on their

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.
1 year ago 1 min read

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

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 seeking to increase transparency and prevent corruption among public servants. While Taiwan introduced anti-money laundering rules for cryptocurrency service providers in July 2021, the crypto industry remains largely unregulated in

Former FTX executive Nishad Singh
1 year ago 1 min read

Former FTX executive Nishad Singh in talks to plead guilty to fraud charges

Former FTX executive Nishad Singh is reportedly negotiating a guilty plea deal with Manhattan prosecutors over his involvement in fraud charges related to the cryptocurrency exchange’s collapse last November. Bloomberg reported on Friday that Singh may plead guilty to the charges, putting additional pressure on FTX’s former CEO and founder Sam Bankman-Fried, who pleaded not guilty to an eight-charge indictment related to the bankrupt exchange. The U.S. Securities and Exchange Commission and Commodities and Futures Trading Commission are reportedly considering pressing additional charges against Singh for involvement with FTX. Singh was the former head of engineering at FTX and had

Decentralized finance (DeFi) platform Platypus
1 year ago 1 min read

Platypus to Develop Compensation Plan for $8.5M Attack Victims

Decentralized finance (DeFi) platform, Platypus, is developing a compensation plan for its users following an $8.5 million flash loan attack. The attack drained funds from the protocol, leading to the destabilization of its dollar-pegged stablecoin. In response, Platypus took to Twitter to assure users that it is working on a compensation plan and asked them not to sell their assets in the protocol as this could exacerbate the situation. Platypus stated that it is working with several parties, including law enforcement officials, to recover the funds. It also paused asset liquidations while it dealt with the issue. The protocol has

Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC)
1 year ago 2 mins read

BAYC Community Accuses Yuga Labs of IP Theft for Trademarking Logo

Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, has been accused of illegally trademarking the BAYC wolf skull logo without proper licenses. The logo was allegedly taken from a company specializing in drawing tutorials for beginners and children. NFTs were created to protect artists and their intellectual property. However, Yuga Labs has been accused of the very thing NFTs were created to prevent. Crypto Twitter member and NFT artist @Jdotcolombo discovered a post from April 5, 2021, where Easy Drawing Guides advertised an easy step-by-step drawing tutorial for a wolf skull. The art

Helium Network
1 year ago 1 min read

Solana to Host Helium Foundation’s Migration on March 27th

Helium Network, the blockchain-based decentralized wireless network provider, has announced a proposed date for its migration to the Solana blockchain. According to the Helium Foundation, the migration is scheduled for March 27, although the date is still tentative. In preparation for the migration, Helium is constituting an Upgrade Readiness Working Group, comprised of community volunteers who will be responsible for monitoring the migration process and choosing the final date for the migration. The migration is expected to take 24 hours, during which time Helium’s entire chain state, including accounts, tokens, and hotspots, will be moved to Solana. By migrating to

NvirWorld’s patented technology enables transactions and payments in places without network connection or natural disasters
1 year ago 2 mins read

Blockchain company NvirWorld signs MOU with World Vision: Donate to the earthquake in Turkey-Syria

Singapore, Singapore, 18th February, 2023, NvirWorld – a blockchain technology innovation company, and World Vision – a non-governmental organization (NGO) for international relief and development, have signed a business agreement at the World Vision Korea headquarters. The MOU with the world’s largest NGO aims to develop a transparent and healthy donation culture using NvirWorld’s self-developed blockchain patent technology, which is expected that will contribute to activating the transparency and reliability of the current donation system. In particular, NvirWorld’s patented technology enables transactions and payments in places without network connection or natural disasters such as earthquakes happened this month on the 6th

BC.GAME Launches RIO Carnival Competition With $1.2 Million Prize Pool
1 year ago 2 mins read

BC.GAME Launches RIO Carnival Competition With $1.2 Million Prize Pool

Willemstad, Curacao, 17th February, 2023 BC.GAME has teamed up with its new ambassador, Brazilian professional footballer David Luiz, to bring RIO Carnival to crypto casino players. A $1.2 million prize pool is up for grabs together with weekly cash prizes in the major gaming event. RIO Carnival grants players the chance to earn RIO coins in order to win shares from the event’s $1.2M prize pool. RIO coins are an exclusive coin minted for the BC.GAME carnival event and can be primarily earned by making deposits or wagers within the specified period.  Coco, the mascot of BC.GAME shares, said: “Good times

Sony Network Communications and Astar Network Launch a Joint Web3 Incubation Program
1 year ago 4 mins read

Sony Network Communications and Astar Network Launch a Joint Web3 Incubation Program

Tokyo, Japan, 17th February, 2023 Sony Network Communications, inc. , an operating company of the Sony Group, will co-host a Web3 Incubation Program with Astar Network, the smart contract platform for multichain. Sony Network Communications and Astar Network will combine their resources and expertise to jointly nurture Web3 projects focused on the utility of NFTs and DAOs.  The Web3 Incubation Program powered by Sony Network Communications and Astar will run from mid-March to mid-June. The program will begin accepting applications on February 17. Both Sony Network Communications and Astar Foundation will review all applications and decide 10 to 15 cohorts.

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