Former Coinbase product manager Ishan Wahi pleaded guilty to charges Tuesday, centered on an insider trading scheme that generated an alleged $1.1 million in profits. Wahi pleaded guilty to two counts of conspiracy to commit wire fraud brought against him by prosecutors in the Southern District of New York. Wahi had previously pleaded not guilty to wire fraud charges in…
It’s no secret venture capitalists react to prevailing market conditions when making decisions, and amid global economic uncertainty, entrepreneurs from across industries are finding that VC funds are more difficult to come by these days. This is especially true for crypto and blockchain companies, which have to overcome not only a knowledge barrier but also the lingering fear aroused by…
As of Feb. 7, 2023, the value locked in 11 Ethereum-based liquid staking protocols has risen above $11 billion, with Lido, Coinbase, and Rocket Pool recording 4-10% gains over the past month. Lido holds more than 73% of the total value locked (TVL) out of the 6.87 million ether held by the 11 liquid staking platforms. More than 15% of…
New York-based Signature Bank has been slapped with a class-action lawsuit alleging it facilitated FTX’s activities prior to the crypto exchange’s collapse last November. The lawsuit, filed in the U.S. District Court for the Southern District of New York on Monday by investment and algorithmic trading firm Statistica Capital, alleges that Signature “had actual knowledge of and substantially facilitated the…
Data from Etherscan shows that some crypto scammers are targeting users with a new trick that allows them to confirm a transaction from the victim’s wallet, but without having the victim’s private key. The attack can only be performed for transactions of 0 value. However, it may cause some users to accidentally send tokens to the attacker as a result…
The financial technology (fintech) industry has its roots in the late 20th century, with the advent of electronic banking and online stock trading. Since then, fintech has expanded and changed over time as a result of technological and internet advances. As a result, new financial services and products have been created with the intention of enhancing accessibility, simplicity and effectiveness…
Liquid staking protocol Lido is set to roll out staking reward withdrawals and improved staking architecture with the announcement of the upcoming Lido V2 upgrade. Two major focal points of the planned upgrade include Lido’s introduction of its new Staking Router and the enabling of withdrawals for Ethereum (ETH) stakers. The Staking Router introduces a modular architectural design allowing the…
In January, the brother of a former Coinbase product manager was sentenced to 10 months in prison for wire fraud conspiracy in what prosecutors called the first case of insider trading involving cryptocurrencies. In September 2022, Nikhil Wahi entered a guilty plea for executing trades based on private data obtained from his brother, Ishan Wahi, a former product manager for…
Lido Finance, the market’s largest liquid staking protocol, is rolling out several key new upgrades in its latest update. The incoming upgrade, which must still be approved by its decentralized autonomous organization (DAO), will introduce two key features. The most notable for various stakers on the platform is the unlocking of Ethereum withdrawals. Users turn to Lido Finance to reap…
Bitcoin was trading in the green on Feb. 7, as prices rebounded following a near collision with a key support point. Bulls have so far rejected this move towards $22,500 and instead pushed prices higher. Ethereum also rallied, with prices continuing to trade above $1,600. Bitcoin Bitcoin (BTC) rebounded from Monday’s lows in today’s session, with prices racing back above…
