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FTX-linked Farmington State Bank Cleared from Federal Reserve Enforcement Action
6.2.2024
The Federal Reserve terminated an enforcement action with Farmington State Bank on February 6, announcing that the FTX-affiliated bank had “completed its wind-down plan and no longer functions as a bank.” “The Board’s enforcement action, which has been in effect since July 2023, ensured the bank’s...
Former Terra Development Team Leader Testifies Against Do Kwon
6.2.2024
On February 5, reports emerged from the Korean daily newspaper Chosun, detailing how a former Terra development team leader had come forward with testimony challenging Terra founder Do Kwon. According to the newspaper, the 14th Criminal Division of the Seoul Southern District Court examined...
German Regulator BaFin Approves Crypto Carbon Credits Exchange Developed by Neutral and DLT Finance
6.2.2024
In collaboration with DLT Finance, Neutral, a German brokerage firm, has unveiled a blockchain-backed exchange for carbon credits. These financial instruments represent forests and renewable energy products, enabling businesses to offset their carbon footprint. While other initiatives have ventured...
DCG Opposes Genesis Bankruptcy Plan, Cites Favoritism to Small Group of Creditors
6.2.2024
Digital Currency Group (DCG) has opposed the bankruptcy plans of its subsidiary Genesis, arguing that it goes against the law and favors a small group of creditors. In a Feb 5 court filing, the company asked the court not to approve the Revised Plan submitted by Genesis for multiple reasons...
Web3 Game Developer Wemade Reports Widening Losses in Q4 2023
6.2.2024
South Korean Web3 game developer Wemade has disclosed a significant increase in operating and net losses in the fourth quarter of last year, as per its latest earnings report. According to the report released on Tuesday, the Kosdaq-listed company’s net loss surged to 189.5 billion won ($142.6...
Solana Faces First Outage of the Year; Engineers Deploy Fix as SOL Dips 3%
6.2.2024
The Solana layer one (L1) blockchain is currently experiencing a service disruption, with the Solana Status website revealing that engineers are actively probing the cause. Validators on mainnet have received instructions to implement an upgrade to version 1.17.20 and to initiate a system reboot....
Court Rules Against Crypto Mining Company, Won’t Force BC Hydro to Provide Power + More Crypto News
6.2.2024
Get your daily, bite-sized digest of blockchain and crypto news – investigating the stories flying under the radar of today’s news. In today’s edition: Court Rules Against Crypto Mining Company, Will Not Force BC Hydro to Provide Power YouHodler Gets Bank of Spain’s Virtual Asset Service...
Bitcoin Infrastructure Builder Bitlight Labs’ Seed Round Led by Gate Ventures, Gate.io’s VC Arm
6.2.2024
Feb 6th, Panama City – Gate Ventures, the venture capital arm of the Gate.io crypto exchange, recently led the seed round for Bitlight Labs, an innovative blockchain solutions provider utilizing RGB protocols to transform the Bitcoin ecosystem, bringing Layer 2 smart contract technology...
Solana Price Prediction as SOL Blockchain Goes Down – What’s Going On?
6.2.2024
The Solana network is suffering a minor outage with the last transaction halted at 09.52 UTC, according to the block explorer. Engineers and validators are currently investigating the mainnet-beta for the source of the problem. Blockchain company and leading Solana validator Laine tweeted:...
British Columbia Court Upholds B.C. Hydro’s Ban on Crypto Mining
6.2.2024
A provincial supreme court judge in British Columbia has deemed B.C. Hydro’s moratorium on crypto mining projects reasonable, according to a ruling posted on Monday. The moratorium, initially enacted in December 2022, faced a challenge from Conifex Timber, a forestry company diversifying into...
Binance Discloses Token Listing Adjustments, Offers $5 Million Whistleblower Reward
6.2.2024
Binance has made changes to its token listing methods after some community members alleged malpractice on the part of employees involved in the process. Binance co-founder Yi He wrote on X (formerly Twitter) commenting on the latest community reaction, noting that internal mechanisms will...
Tether Launches Tether Edu, Expands Educational Initiatives in Emerging Markets
6.2.2024
Tether, the largest stablecoin company, has announced the launch of Tether Edu, an initiative that will concentrate all of the global educational and learning programs of the institution. Tether Edu will focus on emerging markets, offering courses and hybrid programs in blockchain, artificial...
Pundi X Initiates PURSE Token Distribution to Boost DePIN Development
6.2.2024
Pundi X, a blockchain-based point-of-sale solution, has initiated the first phase of its PURSE token distribution in a bid to incentivize builders and participants of the Decentralized Physical Infrastructure Network (DePIN). The distribution of PURSE tokens leverages DePIN technology to reshape...
Will the Tokenization of Debt Trend Gain Momentum in 2024?
6.2.2024
The tokenization trend continues to gain momentum in 2024 with the primary focus being on digital assets and payment systems. The tokenization of debt, derivatives, and structured products requires converting these instruments into digital tokens on the blockchain or distributed ledgers and remains...
Vitalik Buterin and Ethereum Foundation Explore Strategies to Optimize Blockchain for Rollup-Centric Roadmap
6.2.2024
Ethereum (ETH) co-founder Vitalik Buterin and the Ethereum Foundation are actively considering multiple strategies to reduce Ethereum’s maximum block size. Their goal is to optimize the blockchain for the “rollup-centric roadmap,” which emphasizes the use of rollups for scaling...
US Treasury Secretary Yellen Highlights Crypto Risks, Urges Legislation
6.2.2024
U.S. Treasury Secretary Janet Yellen, leading the Financial Stability Oversight Council, addressed lawmakers about the risks cryptocurrencies pose to the U.S. financial system and called for regulations. During the presentation to the House Financial Services Committee, Yellen detailed concerns...
Lawmaker: Lack of Russian Crypto Regulations ‘Undermines Moscow’s Anti-Sanctions Policies’
6.2.2024
A leading politician thinks insufficient Russian crypto regulation is “undermining the government’s efforts to counter” Western economic sanctions. The media outlet RBC quoted Andrei Lugovoy, the First Deputy Chairman of the State Duma’s Committee on Security and Anti-Corruption, as calling Russian...
South Korean Crypto Exchange Bithumb Reinstates Commission Fees After Four Months
6.2.2024
The South Korean crypto exchange Bithumb ended its four-month campaign of commission-free crypto trading on February 5. Per Insight Korea, Bithumb began charging a 0.04% fee “for all crypto transactions starting from February 5.” Bithumb vs Upbit: South Korean Crypto Exchange Rivals Go to War?...
Trump Calls CBDC a “Very Dangerous Thing,” Criticizes Artificial Intelligence
5.2.2024
Former president and leading Republican presidential candidate Donald J. Trump called the prospect of a central bank digital currency (CBDC) a “very dangerous thing” during a February 2 interview on Fox Business. Trump Doubles Down On Anti-CBDC Stance Fielding questions from Maria Bartiromo, Trump...
Inflows of US Digital Asset ETFs Hits Total of $7.7B in Four Weeks
5.2.2024
Digital asset management funds are still on a record rise. So far, the crypto-backed investment products have recorded $7.7 billion in total inflows in the US, according to a February 6 CoinShares report on crypto-backed investment funds. CoinShares Head of Research James Butterfill shared...