Following Monday’s announcement of a lawsuit by the Commodity Futures Trading Commission (CFTC) against Binance and its CEO Changpeng “CZ” Zhao, the crypto exchange’s BNB token tumbled overnight. BNB token slipped by 5.4% in the last 24 hours—the largest drop of any token in the top 10 by market cap—according to CoinGecko. Over the past 24 hours, Bitcoin has also…
Large corporations operating in the Web2 space continue to collect user data to boost profits but do not share most of this value with the users providing the data. However, with the emergence of Web3 technologies, the infrastructure necessary to bring back control to the people has arrived. Through a new Web3 technology built by Itheum, people can own, trade…
Market observers pointed out that the CFTC goes after the bigger fish, and its regulatory action often proves fatal for the crypto companies. Source: https://cointelegraph.com/public/index.php/news/here-s-why-cftc-suing-binance-is-a-bigger-deal-than-an-sec-enforcement
National cryptocurrency exchanges have paused their activities in Venezuela according to reports, as the anti-corruption probe on national crypto watchdog Sunacrip and unlawful oil sales continues in the country. Tarek William Saab, attorney general, confirmed the involvement of the institution in a parallel scheme that involved the sale of Venezuelan oil to third parties, mentioning Sunacrip as part of the…
Chinese officials have been actively developing its fintech industry, with a strong focus on blockchain technology, despite their stringent stance on cryptocurrencies. On March 28, the Ministry of Industry and Information Technology (MIIT), a watchdog for the Chinese fintech industry, said it intends to improve standards for its blockchain technology development by the year 2025. The information comes from a…
In a new update to the class-action lawsuit against bZX DAO members, a United States district judge ruled that the ability for developers to upgrade a smart contract where the key is in the hands of a single developer makes the arrangement custodial. On March 27, United States District Judge Larry Alan Burns passed a ruling with regard to the…
The story of FTX founder Sam Bankman-Fried continues to unfold as lawyers and the court continue to argue about SBF’s bail conditions. SBF lawyers have reportedly reached a new bail agreement with the United States prosecutors, allowing him to stay at home while restricting the use of some electronic devices and apps. According to a report by Reuters, the lawyers…
The United States Commodity Futures Trading Commission (CFTC) sued crypto exchange Binance for violations of trading and derivatives laws. The lawsuit, filed on March 27, alleged that the global crypto exchange offered its derivatives trading services to U.S. customers without applying for a derivatives license. The lawsuit from the commodities watchdog in the U.S. took many by surprise with market…
Bitcoin (BTC) users will soon be able to use zero-knowledge proofs (ZK-proofs) to expedite the process of verifying individual blocks and, eventually, the entire blockchain. ZeroSync Association, a Swiss-based nonprofit, is developing tooling which allows users to validate the state of the Bitcoin network without having to download the blockchain or trust a third party for verification. ZeroSync Association is…
The newly launched ZeroSync Association is bringing zero-knowledge proofs (ZKPs) to Bitcoin (BTC), allowing users to validate the state of the network without the need to download hundreds of gigabytes of blockchain history or trusting a third party. Based in Zug, Switzerland, the ZeroSync Association is a non-profit entity supported by various community stakeholders, including core contributors Robert Linus, Tino…
