3AC Founders Launch New Exchange For Crypto Claims Trading
3AC founders Su Zhu and Kyle Davies are launching a new crypto exchange in partnership with Coinflex. Open Exchange (OPNX) will allow users to trade their claims against bankrupt crypto…
Crypto Winter Forces LocalBitcoins To Shut Down Operations
LocalBitcoins has announced that it will shut down its platform this month. The Bitcoin exchange cited the ongoing crypto winter as the reason for this move. Users will be able…
Tether Posts $700 Million Profit, Eliminates Commercial Paper From Reserves
Tether reported a $700 million profit in the last quarter of 2022. The USDT issuer no longer holds commercial paper in its reserves. The latest attestation report from its auditor…
Ethereum’s Shanghai Upgrade To Raise ETH Staking Average And Balloon PoS Validator Count: Report
Summary: JP Morgan analysts expect the ratio of staked Ether to move towards the 60% average on other Proof-of-Stake blockchains. The bank added that yield returns could dip while the…
Robinhood Board Approves Buyback Of Sam Bankman-Fried’s 55 Million Shares
Summary: Robinhood plans to buy back nearly $600 million worth of shares owned by the FTX Founder. Sam Bankman-Fried scooped the shares back in May 2022 through a holding company…
Kraken Faces SEC Probe Over Sale Of Unregistered Securities
Kraken is reportedly facing a probe by the SEC over the sale of unregistered securities. The securities regulator is probing whether the exchange violated securities law while offering certain tokens.…
Yuga Labs’ Dookey Dash Is Plagued With Rampant Cheating
Yuga Labs’ recently launched Dookey Dash has witnessed rampant cheating among players. The skill-based game is reportedly filled with boosters who manipulate the leaderboards with unethical methods. Players are paying…
Chiliz (CHZ) Debuts EVM-Compatible L1 Blockchain
Summary: The blockchain-powered sports fan token launched its own layer 1 decentralized network on Tuesday. Chiliz’s L1 chain is compatible with the Ethereum Virtual Machine program, allowing developers to broadcast…
Kyle Davies and Su Zhu Ducked 3AC Court Summons, Lawyers Tell Court: Report
Summary: Lawyers for Three Arrows Capital (3AC) said Davies and co-founder Su Zhu ignored the court subpoena served on Twitter in January while remaining active on social media. Davies and…
Former Coinbase Manager Pleads Guilty To Insider Trading Charges
Ishan Wahi, an ex-Coinbase product manager, has pleaded guilty to insider trading charges. Wahi initially pleaded not guilty to the wire fraud charges filed by the U.S. Department of Justice.…
Grayscale Files ‘Final’ Briefs In ETF Lawsuit Against SEC
Summary: Gary Gensler’s SEC rejected Grayscale’s Bitcoin exchange-traded fund application citing fraud and market manipulation concerns. The digital asset manager sought regulatory permission to switch its BTC spot trust index…
AI Crypto Tokens Fetch.ai and SingularityNET Gain 20%
AI-related crypto tokens like Fetch.ai (FET) and Ocean Protocol (OCEAN) have rallied more than 20% over the past 24 hours. The daily trading volumes of the top three AI-related tokens…
Barry Silbert’s DCG Offloads Discounted Grayscale Shares
Summary: DCG has started selling assets held by Grayscale, the Financial Times reported. Recent SEC filings show that most of its holdings sales have come from the company’s Ethereum fund.…
Digital Currency Group (DCG) And Genesis Reach Initial Deal With Creditors
The Digital Currency Group (DCG) and Genesis have reached an in-principle agreement with the conglomerate’s main creditors. The deal involves the sale of bankrupt Genesis entities and winding down its…
Binance Set To Suspend USD Bank Transfers
Binance is suspending USD deposits and withdrawals using bank accounts. The suspension will come into effect on 8 February (Wednesday) and is expected to last for a couple of weeks.…