On Wednesday, Galoy, the firm behind El Salvador’s Bitcoin Beach Wallet, announced that the company raised $4 million in funding in an investment round led by Hivemind Ventures. On the same day, the startup launched a new product called Stablesats, a stablecoin concept that leverages derivatives contracts to create a bitcoin-backed synthetic dollar pegged to the U.S. dollar. The Stablesats…
Former Coinbase Global product manager Ishan Wahi pleaded not guilty to two counts of wire fraud conspiracy and two counts of wire fraud in a Manhattan federal court on Wednesday, Reuters reported. Wahi is accused by United States law enforcement and the Securities and Exchange Commission (SEC) of insider trading while at Coinbase. He was arrested in May as he…
Musician and NFT artist Jimmy Edgar is fully sold on NFT art, but not convinced yet on the uses of NFTs in the music world, he told Decrypt’s Kate Irwin. Source: https://decrypt.co/videos/interviews/SAjocwV9/why-musician-and-nft-artist-jimmy-edgar-remains-skeptical-on-music-nfts
Riot blockchain paused mining operations at its Texas facility last month upon request from the state—and was handsomely rewarded. The industrial crypto miner, according to a company statement on Wednesday, earned roughly $9.5 million in power credits for its curtailment activity—roughly 439 Bitcoin, based on the average July price of $21,634. The reward more than compensates for Riot’s underwhelming production…
A former Coinbase product manager has pleaded not guilty to insider trading. Ishan Wahi, 32, pleaded not guilty in a Wednesday hearing to charges of wire fraud which allegedly occurred while working at the crypto exchange Coinbase, Reuters has reported. The Justice Department charged Wahi with wire fraud and conspiracy to commit wire fraud in connection with an insider trading…
Blockchain investigator PeckShield has reported roughly $4.8 million in crypto moved from ZB.com amid the exchange announcing the suspension of withdrawals. In a Wednesday tweet, PeckShield speculated that hackers might be responsible for transferring 21 types of tokens off of the exchange starting on Monday, including Tether (USDT), Shiba Inu (SHIB), and Tesra (TSR). According to the blockchain investigator, the…
Avalanche’s John Wu Talks Institutional Interest and Use Cases Ava Labs President John Wu sits for an extensive chat about institutional interest in crypto and DeFi (it has “absolutely not waned”) and use cases of Avalanche with Decrypt’s Dan Roberts at Avalanche House in Brooklyn on July 15, 2022. Source: https://decrypt.co/videos/live-events/XHPt24ug/avalanches-john-wu-talks-institutional-interest-and-use-cases
In this week’s newsletter, read about how Binance started its nonfungible token (NFT) ticketing service by partnering with a sports club. Check out the NFT exchange-traded fund (ETF) that was released by trading platform KuCoin and how Google AI was able to paint BAYC-inspired NFTs. In other news, learn about how much the NFT community spent in minting NFTs in…
United States Senate Agriculture Committee chair Debbie Stabenow and ranking member John Boozman introduced the Digital Commodities Consumer Protection Act bill on Wednesday. The bill has been expected for several months. Like the Digital Commodities Exchange Act (DCEA) introduced into the House of Representatives by members of the House Agriculture Committee in April, the new bill enlarges the role of…
The European Securities and Markets Authority (ESMA) is gearing up to implement stricter oversight in regards to crypto-related transactions. The agency is now looking to hire suppliers of trading data, as monitoring major participants in the market falls under its responsibilities. ESMA Launches Public Procurement for Providers of Crypto Trading Data The securities watchdog of the European Union, ESMA, is…
