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This the first time that Kraken exchange has faced scrutiny over its securities offerings by SEC
1 year ago 1 min read

Kraken Under Investigation by SEC Over Unauthorized Securities Offerings

In the past, Kraken has had several run-ins with regulators, including the Commodity Futures Trading Commission (CFTC) and the New York Attorney General’s office. However, the recent investigation by the SEC is the first time that the exchange has faced scrutiny over its securities offerings. Despite calls from the SEC for crypto exchanges to register, Kraken CEO Dave Ripley has been vocal about his stance against such a move, arguing that the company’s operations are already subject to strict regulations from other agencies. The outcome of the SEC investigation is yet to be seen, but it could potentially lead to

Robinhood Markets Inc. intends to buy back 55 million of its shares
1 year ago 1 min read

Robinhood Plans to Purchase Seized Shares from FTX Failure

Robinhood Markets Inc. intends to buy back 55 million of its shares from Emergent Fidelity Technologies, which had acquired the shares with loans from Alameda Research, the brokerage arm of FTX. The shares, valued at over $550 million, are the subject of a creditor dispute in the FTX bankruptcy case. The U.S. Department of Justice has seized the shares and Robinhood is in discussions with the DOJ about the proposed purchase. Robinhood expressed confidence in its business in its earnings report and stated that the proposed purchase “underscores the confidence the Board of Directors and management team have in our

In the case of Municipal Councillor Quentin Feres
1 year ago 1 min read

French Politician Falls Victim to XRP Twitter Scam

While the latest XRP scam is far from the first to target Twitter users, it’s a stark reminder of the risks posed by hackers and the need for heightened security measures on social media platforms. In the case of Municipal Councillor Quentin Feres, it’s unclear exactly how the hackers gained access to his Twitter account. However, it’s widely known that password reuse and weak passwords are common sources of vulnerabilities. As such, politicians and other public figures must take extra care when it comes to securing their social media accounts. One simple solution is to use unique, complex passwords for

Bank of America
1 year ago 1 min read

Bank of America Embraces Decentralized Finance, Plans for Future Growth

Bank of America (BAC) has stated in a recent research report that the recent correction in digital asset markets led to a shift in focus and capital from speculative trading to projects with actual functionality. However, the bank believes that decentralized finance (DeFi) currently only “barely scratches the surface.” According to the report, platforms like Gauntlet are driving the evolution of DeFi applications, but regulatory barriers, poor user interfaces, and limited functionality may prevent mainstream adoption in the short term. The inability to perform AML/KYC requirements, access credit scores, and identify users are some of the key challenges that DeFi

Binance is taking an active role in forming a consortium of crypto
1 year ago 1 min read

Binance Leads Effort to Restore Confidence in Crypto: Report

Binance, the world’s leading cryptocurrency exchange, is taking an active role in forming a consortium of crypto companies with the aim of restoring trust in the crypto industry and influencing regulatory efforts. The consortium, which will include a variety of crypto-related entities such as individual projects, exchanges, and blockchain analytics firms, will operate in a decentralized manner, aimed at aligning with the crypto community. The current state of the global crypto industry, facing increasing regulation following a wave of retail losses and failed companies, has driven Binance to join efforts in promoting self-regulation. This is not the first time an

FTX exchange
1 year ago 1 min read

Bankrupt FTX Faces Huge Bills for Legal and Consulting Services

FTX, the troubled crypto exchange, and its affiliated companies have incurred more than $20 million in legal and consulting fees since filing for bankruptcy protection in November. The company, which has since installed a new CEO and retained three law firms and two consulting firms, is undergoing a complex and expensive wind-down process. The initial bills highlight the cost of FTX’s bankruptcy case and could reduce the amount of return creditors will receive. According to FTX’s new leadership, the exchange and other entities in Chapter 11 bankruptcy in the US held approximately $1.4 billion as of December 31, primarily with

The verdict in the Hermès vs. Rothschild NFT trial has been reached
1 year ago 1 min read

Hermès Secures Victory in Trademark Dispute Against MetaBirkins NFTs

The verdict in the Hermès vs. Rothschild NFT trial has been reached, and the French luxury brand has come out on top. A nine-person jury ruled in favor of Hermès, awarding $133,000 in damages and determining that Rothschild had indeed profited from the brand’s goodwill by producing NFTs based on its Birkin bags. This case sets a powerful precedent for NFT creators and will have a lasting impact on intellectual property (IP) law as it relates to digital creations. Rothschild’s NFT collection, MetaBirkins, was at the center of the lawsuit. The jury decided that the NFTs were not protected under

Aptos Labs
1 year ago 1 min read

Venture Capital Firm Aptos Labs Invests in Web3 TikTok Alternative Chingari

Aptos Labs, a blockchain company, is making its move into web3 social media by investing in Chingari, a short video app. With five million daily active users and over 200 million videos watched daily, Chingari has established itself as a popular platform for users to upload and share short videos, similar to TikTok. As a result of the investment, Chingari will now be powered by the Aptos blockchain. The Aptos network offers speed, safety, and scalability, which will support Chingari’s growing number of users and its plans to onboard even more in the future. Chingari initially started as a web2

Microsoft and Google's Chatbot Obsession Sparks Rally in AI and Big Data Cryptocurrency Market
1 year ago 1 min read

AI and Big Data Tokens Soar as Microsoft and Google Lead Chatbot Craze

The sudden interest in artificial intelligence (AI) chatbots has caused a surge in crypto assets in the AI and big data space. Major tech companies like Microsoft and Google have driven the market with their own chatbots and AI-powered search engines. Leading the charge is Big Data Protocol (BDP), which has experienced a 1,400% rally in the last week, trading around $0.48, according to CoinGecko data. Other notable gainers in the AI and data intelligence space include SingularityDAO (SDAO), SingularityNET (AGIX), Fetch.ai (FET), Measurable Data (MDT), Matrix AI Network (MAN), DeepBrain Chain (DBC), Oraichain (ORAI), and Vectorspace AI (VXV), with

Deutsche Bank Seeking Crypto Investments to Revive Business
1 year ago 1 min read

Deutsche Bank Plans to Invest in Crypto to Revive Growth: Report

Financial giant Deutsche Bank is reportedly looking to invest in the crypto industry to speed up growth for its asset management arm, the DWS Group, after global markets fell last year. The DWS Group, headed by CEO Stefan Hoops, is said to be in discussions to buy a minority stake in Deutsche Digital Assets, a crypto asset manager, and to invest in Tradias, a digital assets trading firm owned by Bankhaus Scheich. Hoops reportedly said during an earnings call last week that the current downturn in crypto markets could present DWS with “interesting opportunities” for investments. He also mentioned that

The Bored Ape Yacht Club NFT collection has frozeng the leaderboard for its latest addition to the brand
1 year ago 1 min read

Dookey Dash Leaderboard Freezes as BAYC Dominates with $73 Million Trading Volume

The Bored Ape Yacht Club, a well-known blue-chip NFT collection, has made headlines again by freezing the leaderboard for its latest addition to the brand: the video game “Dookey Dash.” The game was inspired by the popular Bored Apes NFTs and allowed players who possessed the “Sewer Pass” NFT to play and compete for the highest score. According to CryptoSlam, sales volumes for the NFTs reached nearly $73 million before the leaderboard was locked. While the process for awarding the gamers is still shrouded in mystery, Bored Apes’ creator, Yuga Labs, has hinted that the top scorer will receive a

Beijing Football Club Goes Digital with Launch of NFTs and Virtual Stadium
1 year ago 1 min read

Beijing Football Club Unveils NFTs Ahead of Virtual Stadium Debut

Beijing Guoan Football Club, a professional football team in the Chinese Super League, has taken a major step into the world of non-fungible tokens (NFTs) with the launch of GLEO. This collection of NFTs can be used as avatars in the club’s virtual stadium, set to launch next year. To celebrate the launch, the football club held a 10-day lottery over the weekend, distributing 10,000 free NFTs to the winners. The club also plans to mint more NFTs in the future, dubbed “digital collectibles” by the club, as a way to engage with fans and enhance their experience. The NFTs