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Polygon Labs Trims Staff by 19% ‘for the Sake of Enhanced Performance’
3.2.2024
As part of its strategy to recalibrate and enhance operational performance, Polygon Labs will be reducing its workforce by 60, marking a 19% cut. This decision, shared by CEO Marc Boiron, aims at maintaining a lean and efficient team. Polygon Labs to Lay off 60 Employees in Bid to Return to Core...
SEC Charges American Bitcoin Academy Founder With Fraud That Cost Students $1.2 Million
3.2.2024
The U.S. Securities and Exchange Commission (SEC) has charged the founder of American Bitcoin Academy, accusing him of running an online fraudulent crypto scheme that cost students $1.2 million. The defendant “falsely claimed that his investment strategies would be guided by his...
EU Regulator Proposes Stricter Rules for Foreign Crypto Firms
3.2.2024
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator, has proposed stricter rules for crypto firms based outside the EU, limiting their ability to directly serve customers within the bloc to ensure fair competition. ESMA Proposes Stricter Rules for Non-EU...
Singapore Police Warn About ‘Crypto Drainers’ Stealing Cryptocurrencies From Wallets
3.2.2024
Singapore’s Police Force and Cyber Security Agency (CSA) have issued a joint warning about “crypto drainer” malware, which steals cryptocurrencies from wallets. As digital assets become more popular, “Cybercriminals are increasingly leveraging crypto drainers to target...
Project Mbridge Reaches Milestone: First Digital Dirham Cross-Border Settlement Goes Through
3.2.2024
The first cross-border digital dirham payment was completed by Sheikh Mansour Bin Zayed Al Nahyan, Chairman of the Board of the Central Bank of the UAE, using the Mbridge platform, a central bank digital currency (CBDC) liquidity and interconnection tool. The settlement involved sending 50 million...
Genesis Settles SEC Lawsuit for $21 Million Over Unregistered Securities
2.2.2024
Facing charges from the SEC over its crypto lending practices, Genesis has agreed to a $21 million settlement. This move aims to close a chapter of legal challenges following the company’s bankruptcy filing last year amid a wider crypto market collapse. Genesis Strikes $21 Million Deal With SEC...
Supreme Court Ruling Bolsters Australian FTX Creditors’ Prospects for Full Recovery
2.2.2024
The prospects of Australian creditors of the crypto exchange FTX getting all their money back recently received a boost after a judge ruled that only those who initiated Australian dollar withdrawal requests are entitled to a share of the $26 million recovered. Australian investors with...
Taproot Wizards Postpones ‘Quantum Cats’ Mint for the Third Time Amid Technical Setbacks
2.2.2024
Technical difficulties have led Taproot Wizards to delay the minting of their “Quantum Cats” Bitcoin Ordinals collection for a third time. The team’s efforts to address unforeseen challenges and ensure a flawless minting experience have pushed back the launch date. Taproot...
End of the Line for OPNX, Built by Three Arrows Co-Founders Zhu and Davies
2.2.2024
OPNX has declared it will cease all activities next month. This decision comes as co-founders Su Zhu and Kyle Davies grapple with legal repercussions stemming from their previous venture’s failure, Three Arrows Capital. OPNX to Shut Down Amid Three Arrows Co-Founders’ Legal Troubles...
Bluechip Gives Synthetix and Beanstalk Stablecoins F Grades; Tokens Added to the ‘Red Flag List’
2.2.2024
On Feb. 1, 2024, the independent, nonprofit stablecoin assessment entity Bluechip made a noteworthy declaration. They officially bestowed an F grade upon Synthetix’s fiat tokens SUSD and SEUR, alongside Beanstalk’s dollar-pegged asset BEAN. Bluechip went on to reveal that both of these...
OFAC Blocks Venezuelan Gold Business, Warns About Upcoming Oil Sanctions
2.2.2024
The Office of Foreign Assets Control (OFAC) has revoked the license of Minerven, the Venezuela-owned gold company, for commercializing gold in international markets. The sanctions on Minerven, which were eased in October, will be applied again on February 13, with oil and gas sanctions reported...
Bitcoin’s Mining Difficulty Skyrockets by 7.33%, Setting New Record for 2024
2.2.2024
On Friday, Feb. 2, 2024, the Bitcoin network witnessed a significant milestone as its mining complexity metric surged by 7.33% at block height 828,576. This marked the most substantial increase in difficulty for the year thus far. The current level of difficulty stands at 75.50 trillion...
1,210 ‘Sleeping Bitcoins’ From 2016 Stir After Years of Inactivity, Following Previous Day’s Mysterious Movements
2.2.2024
On the final day of January 2024, a series of nine enigmatic transactions emerged from wallets established in 2016. Subsequently, another tranche of 15 transactions from wallets created on that same day in 2016 moved a total of 1,210.41 bitcoin, valued at $52 million. This marked the first movement...
Blackrock’s IBIT Bitcoin Reserves Soar, Securing 70,005 BTC Valued at Nearly $3 Billion
2.2.2024
According to the latest metrics, Grayscale’s Bitcoin Trust, commonly referred to as GBTC, saw a decline of approximately 9,520.27 bitcoins, valued at around $410 million, between Jan. 31 and Feb. 1, 2024. During a two-day period, Blackrock’s spot bitcoin exchange-traded fund (ETF)...
Bitcoin Technical Analysis: BTC’s Price Resilience Holds Steady Amidst Market Fluctuations
2.2.2024
On Friday, the price of bitcoin fluctuated within a daily span from $41,937 to $43,347, with its market value reaching $846 billion. The trading activity for the day tallied up to $17.35 billion, showcasing a spike in investor involvement and market liquidity, which tends to diminish as the weekend...
Lawyer Says FTX Has Abandoned Revival Efforts, Judge Certifies Controversial Reimbursement Plan
2.2.2024
The collapsed cryptocurrency exchange FTX will not be proceeding with efforts to resume operations because none of the prospective suitors has pledged to invest the needed capital, the company’s attorney has said. A U.S. Bankruptcy Court judge has said FTX’s proposal to reimburse...
Singapore High Court Denies 3AC’s Bid to Dismiss Suit by Defiance Capital Founder
2.2.2024
The High Court of Singapore has denied Three Arrows Capital’s (3AC) attempt to dismiss a lawsuit by Defiance Capital founder Cheong Jun Yoong, affirming the legal standing of digital assets in trust disputes. Singapore Court Upholds Defiance Capital’s Suit Against 3AC in Crypto Case...
Monei Starts Conducting Euro Stablecoin Tests
2.2.2024
European payment platform Monei has announced the start of the testing phase of EURM, a euro-pegged stablecoin, as part of the Bank of Spain’s national financial sandbox. The token will leverage Ethereum’s and Polygon’s blockchains, allowing each one of a reduced number of users...
House Financial Services Committee Members Demand More Time to Debate New Digital Payment Proposal
2.2.2024
Leading members of the U.S. House Financial Services Committee, Chairman Patrick McHenry, Subcommittee Chairman French Hill, and Representative Mike Flood, have requested an extension of the public comment period for the CFPB’s proposed rule on digital consumer payment applications. This...
30 Banks Participating in Russia’s Central Bank Digital Currency Pilot
2.2.2024
The number of banks participating in Russia’s central bank digital currency pilot has increased to 30. Seventeen banks have signed an agreement with the Bank of Russia to participate in the digital ruble program. They will join 13 other banks, about 600 citizens, and 30 trading and service...