Judges overseeing Grayscale’s lawsuit against the Securities and Exchange Commission (SEC) questioned the financial watchdog Tuesday, digging into the agency’s basis for denying Grayscale’s application to establish a Bitcoin ETF. The questions came during oral arguments in the U.S. Court of Appeals for the D.C. Circuit, overseen by Judges Sri Srinivasan, Neomi Rao, and Harry Edwards. Grayscale initiated legal action…
The total value locked (TVL) in DeFi applications on the Arbitrum, a layer-2 Ethereum network blockchain, has doubled since the start of 2023. While investors’ hope of an ARBI token airdrop is a major factor attracting activity to the Ethereum layer-1 network, the ecosystem’s DeFi growth is also showing robust growth. Arbitrum has become a major hub for decentralized derivatives…
Yuga Labs, the creators of the blue-chip non-fungible token (NFT) collection Bored Ape Yacht Club (BAYC), announced that the team has completed its Ordinal Inscription auction with a total of 3,246 bidders. The Twelvefold collection of inscriptions generated 735.7 bitcoin, worth more than $16 million. The highest bid was 7.1159 bitcoin, equivalent to $160,000. Individuals Complain About Yuga Labs’ Auction…
Last week’s ETHDenver conference highlighted a disturbing trend in the crypto industry. While not unique to blockchain, the trend of not using the products our industry creates is something that the crypto community needs to grapple with. In more mature industries, this “dogfooding” is enforced. Microsoft employees must use Outlook, Word and so on. But in early industries such as…
Athlete NFT platform Blockasset announced today that it is expanding beyond its original home of Solana for Chiliz Chain 2.0, the new Ethereum Virtual Machine-compatible Layer-1 blockchain from sports fan token firm Chiliz. Alongside the expansion, Blockasset will receive an equity investment from Chiliz, which owns the Socios fan token and rewards platform. Socios works with more than 170 partners…
Athlete NFT platform Blockasset announced today that it is expanding beyond its original home of Solana for Chiliz Chain 2.0, the new Ethereum Virtual Machine-compatible Layer-1 blockchain from sports fan token firm Chiliz. Alongside the expansion, Blockasset will receive an equity investment from Chiliz, which owns the Socios fan token and rewards platform. Socios works with more than 170 partners…
Federal Reserve Chairman Jerome Powell today said that the crypto space needs to be monitored closely because it is full of turmoil—but innovation in the world’s biggest economy should not be stifled. Testifying on Capitol Hill in front of lawmakers Tuesday, Powell was asked about the cryptocurrency space. He said that the U.S. central bank had been “quite active” in…
Despite the collapse of FTX and a scrapped $210 million naming rights deal, Team SoloMid’s affinity for crypto hasn’t soured. In fact, the esports org also known as TSM is now building its own crypto sub-network on Avalanche to facilitate esports transactions and tournaments, TSM parent company Swift announced Tuesday. Swift, which also owns the Blitz Esports platform, is building…
A Seychelles court has approved the restructuring plan tabled by the Hong Kong-based crypto derivatives exchange CoinFLEX, the company said in a statement Tuesday. “We are pleased to confirm that on Monday, March 6th, 2023, CoinFLEX’s restructuring was approved by the Seychelles courts,” said the exchange. CoinFLEX didn’t provide details on the next steps, saying that the court’s written order…
A group of United States lawmakers is reportedly planning to reintroduce legislation to change the reporting requirements for certain taxpayers involved in crypto transactions. According to a March 7 report from Punchbowl News, Representatives Patrick McHenry and Ritchie Torres plan to reintroduce the Keep Innovation in America Act. McHenry was one of the leading voices behind the previously proposed bill…
