Representatives of the crypto community shared their responses to the proposed Digital Commodities Consumer Protection Act (DCCPA) on Sept. 15. Speaking at the second panel of a hearing held by the Senate Agriculture Committee, invited speakers praised the bill as a whole, but had recommendations for improvement. Definitions were an issue for all five of the speakers and Blockchain Association…
In response to the ongoing Russian invasion of Ukraine, the U.S. Treasury Department today announced the addition of 22 individuals and two entities tied to the Russian government to the Office of Foreign Assets Control (OFAC) sanctions list. The list includes entities that OFAC says supported Russia’s invasion, including Task Force Rusich, an alleged neo-Nazi paramilitary group that the agency…
Transitioning the Ethereum blockchain from proof-of-work to proof-of-stake has reduced its energy usage by more than 99% — and many climate activists have called for Bitcoin to follow suit. In a Thursday notice following the Merge, the United States-based Environmental Working Group, or EWG, announced it would be starting a $1-million campaign aimed at urging Bitcoin (BTC) to go green…
In brief The Bored Yachts Club is a new community project that aims to serve up yacht rental opportunities exclusively for NFT owners. It comes from an owner of a Bored Ape Yacht Club NFT that is also CEO of a crypto company and a yacht owner himself. The Bored Ape Yacht Club offers plenty of disinterested-looking Apes—10,000 of them,…
Cryptocurrency startup Portofino Technologies has officially launched its high-frequency trading platform for digital assets, securing major funding from venture capital firms in the process. In launching its platform, Portofino disclosed that it had raised $50 million in equity funding from Valar Ventures, Global Founders Capital and Coatue. Although Portofino didn’t disclose how the funding will be used, the company has…
Crypto fan-turned-hater Nassim Nicholas Taleb wants you to know that Bitcoin is a “tumor.” In an interview with CNBC’s Squawk Box Thursday, the author of The Black Swan argued that anyone under 40—Millennials and GenZ—don’t understand how the economy works because of the Federal interest rate environment in which they’ve grown up. “I think that we’ve had 15 years—14 and…
According to local reports stemming from South Korea, the country’s foreign ministry is looking to invalidate the co-founder of Terraform Labs Do Kwon’s passport. The story was published the day after it was reported that Seoul’s Southern District Prosecutors Office issued a warrant for Kwon’s arrest. Local Report Says South Korean Officials Are Targeting Do Kwon’s Passport On Wednesday, September…
SEC Chairman Gary Gensler today faced a fierce grilling over the regulatory body’s role in defining rules for crypto, including the chairman’s view that nearly all cryptocurrencies currently trading today are likely unregistered securities. During a Thursday oversight hearing of the agency by the Senate Banking Committee, Republican Senator Pat Toomey suggested that the SEC wasn’t doing its job well…
Zircon Finance, an automated market maker (AMM) and a decentralized exchange on Moonbeam, announced the launch of a mainnet network to address investor’s challenges related to impermanent loss in decentralized finance (DeFi). Impermanent loss relates to a condition wherein investors lose assets they hadpreviously dedicated to providing liquidity to a liquidity pool for earning profits via yields. The mainnet network,…
The Monetary Authority of Singapore, or MAS, has granted SBI Digital Markets, a subsidiary of the digital asset arm of Japan-based financial giant SBI Holdings, a license to conduct certain regulated activities in the country. In a Thursday announcement, MAS said it had awarded SBI Digital Markets a Capital Markets Services license following the firm receiving in-principle approval in May.…
