A Coinbase customer is suing the San Francisco-based exchange for $5 million for failing to properly secure customers’ accounts and “flouting” federal securities laws, among other allegations. The lawsuit, filed last week and which represents over 100 people, claims that the biggest cryptocurrency exchange in the U.S. locked users out of their accounts for extended periods of time—harming them financially. …
In brief U.S. Congressman Tom Emmer has written a letter to Treasury Secretary Janet Yellen regarding its recent sanctions on Ethereum coin mixing service, Tornado Cash. Emmer suggests that banning smart contract-powered software goes against FinCEN precedent, and asks several questions about the Treasury’s decision. Earlier this month, the United States Treasury placed sanctions on Ethereum coin mixer Tornado Cash,…
While mainstream coverage of cryptocurrency has been overwhelmingly negative in the wake of the collapse of the Terra ecosystem, the bankruptcy of Celsius and the fall of Three Arrows Capital, these events ultimately show why more of the financial system should operate on-chain, bringing more transparency and information to market participants. In all three cases, the damage was caused and…
This is an opinion editorial by Evan Price, a software engineer of 15 years and advocate for privacy rights. Taro is a new protocol being developed at Lightning Labs that promises to enable creation and transfer of digital assets on the Bitcoin blockchain and specifically on the Lightning Network. It is being hailed as a revolutionary advance in cryptocurrency tokenization.…
During the last 24 hours, crypto asset prices have improved as the global cryptocurrency market capitalization today has risen 1.9% to $1.07 trillion. Interestingly, the two so-called ‘defeated’ Terra blockchain tokens, now called terraclassicusd (USTC) and luna classic (LUNC), have seen significant gains. LUNC has climbed 8% higher during the past 24 hours and the once-stable coin USTC has jumped…
One user has filed a class-action lawsuit against crypto exchange Coinbase on behalf of account and wallet holders “who have had their accounts breached and incurred losses arising from the unauthorized transfer of assets.” In an Aug. 15 filing in U.S. district court for the Northern District of Georgia, plaintiff George Kattula requested a jury trial against Coinbase, claiming the…
On this week’s “The Market Report” show, Cointelegraph’s resident experts discuss some of the main factors that contributed to the collapse of this bear market rally. To kick things off, we broke down the latest news in the markets this week Bitcoin (BTC) to lose $21K despite miners’ capitulation exit? Five things to know in Bitcoin this week. Miners are a…
Crypto has always been about disrupting the gatekeepers through decentralization. And Hollywood has a lot of gatekeepers who decide every aspect of a film’s life cycle: Will it get made? Who will support it? How much of a budget will it have, and how much effort will be put into distributing it? Leo Matchett, a Technical Emmy Award winner and…
Cosmos was a notable gainer on Tuesday, as prices of the token rose by as much as 12% in the day. Today’s surge sees the cryptocurrency climb for a third straight day, hitting a five-day high in the process. Near protocol was also in the green, as it rebounded following recent declines. Cosmos (ATOM) Cosmos (ATOM) was one of Tuesday’s…
Ethereum’s transition from a proof-of-work consensus (PoW) protocol to the 99.95% greener and more scalable proof-of-stake (PoS) protocol is almost here, but there are still unanswered questions about what will happen next. The most notable of which asks: Will Ethereum’s current miners fork the network onto a separate blockchain that continues to use PoW? Crypto exchange Bitfinex is prepared for…
