In the wake of the recent legal action against ten associates of Terraform Labs, which included the co-founder Shin Hyun-seong, known to many as Daniel Shin, it appears that prosecutors from Seoul are convinced that Terraform Labs and co-founder Do Kwon are still in possession of a considerable sum of money, specifically 130 billion won ($100 million), held in a…
The county of Santa Cruz in northern California is one of the latest to adopt and implement the usage of blockchain-based solutions on a governmental level. In a meeting of the Board of Supervisors for the County of Santa Cruz held on April 25, the members unanimously decided to go forward with implementing the usage of digital wallets, for government…
Bitcoin (BTC) bulls might be disappointed after the $31,000 resistance proved stronger than expected on April 14. However, looking at a broader time frame, Bitcoin has been the best-performing asset in 2023, gaining over 74% year-to-date at $29,000. Positioning for weaker dollar, debt ceiling It is worth noting that gold is merely 4% behind its all-time high, likely indicating a…
Whatever happened to EOS? After the biggest ICO in history, the former top 10 token now languishes around number 53. But the community has since taken back control and is determined to restore the smart contract platform to its former glory. If you’re a newcomer to the crypto industry, you may not even be familiar with The Biggest ICO in…
In March, the Utah State Legislature passed the Utah DAO Act, granting legal recognition and limited liability protections to decentralized autonomous organizations (DAO) in the state. DAOs by default are not recognized as legal entities, and giving these organizations legal status in Utah could help clear up regulatory concerns. David Lemke, chief financial officer at crypto wallet Giddy — and…
The neobank Cogni has announced that it is rolling out soulbound nonfungible tokens containing Know Your Customer (KYC) information to holders of its crypto wallet. The Polygon-based NFT will transfer customers’ “Web2” KYC verification done by the bank at account opening into a Web3 environment. Cogni, which has United States Federal Deposit Insurance Corporation coverage through a traditional New York…
Current indicators suggest the European Central Bank (ECB) should raise the interest rate in May, the monetary authority’s chief economist said. Future increases will depend on the economic data but this is still not the right time to stop, according to Philip Lane who believes the bank has to bring inflation back to the 2% target “in a timely manner.”…
Global banks continue to expand their cryptocurrency-related capabilities, with the British multinational bank Standard Chartered raising new funding for its crypto platform Zodia. Standard Chartered-backed crypto custody subsidiary Zodia Custody has raised $36 million in a new series A funding round, Bloomberg reported on April 27. Japanese financial conglomerate SBI Holdings has led the fundraise, becoming Zodia’s second-largest shareholder, Zodia…
PancakeSwap’s native token has been flattened this past week. CAKE token has plummeted roughly 24.4% over the past seven days, per CoinGecko, as a proposed change to the project’s tokenomics looms large. PancakeSwap is a decentralized exchange (DEX) built on the BNB Chain. The project recently forked Uniswap V3’s code and launched its version on Ethereum and Aptos. The core…
A systems architect cracked a seed phrase and won a 100,000 Satoshi bounty, or 0.001 Bitcoin (BTC), worth $29, in just under half an hour. Cointelegraph spoke to Andrew Fraser in Boston, who underscored how critical it is to keep a Bitcoin wallet seed phrase secure and offline. A seed phrase or recovery phrase is a string of random words…
