This story comes from GG. Your Web3 Gaming Power-Up Discover GG The impact of FTX’s bankruptcy process continues to have ripple effects across the crypto world, and that includes the various firms that the now-defunct exchange acquired before its fall. Storybook Brawl, a Web3 video game that FTX acquired just 13 months ago, can now be added to the list…
Binance.US has backed out of its agreement to purchase $1 billion of bankrupt cryptocurrency brokerage Voyager Digital assets, the company announced in a tweet. It laid the blame for the move on “the hostile and uncertain regulatory climate in the United States.” Voyager, the Voyager Official Committee of Unsecured Creditors and the U.S. government reached an agreement on April 19…
As his trial begins this week, Nate Chastain, the former head of product at OpenSea, is pushing back on the characterization of the wire fraud and money laundering charges against him as “insider trading.” Dubbed the “First Ever Digital Asset Insider Trading Scheme,” the DOJ alleges Chastain was using confidential information to enrich himself through knowledge about which NFT’s were…
After the tumultuous downfall of three major banks, namely Silvergate Bank, Silicon Valley Bank, and Signature Bank, several central banks made a collaborative announcement of a swift, coordinated emergency response. The intervention aimed to furnish U.S. dollar liquidity, with the intention of alleviating the impact of such severe shocks on the flow of credit to households and businesses. As per…
Binance US walked away from its deal to acquire Voyager Digital’s assets Tuesday, reversing course after the deal was already approved by a judge in bankruptcy court. In an announcement on Twitter, Voyager described the roughly $1.3 billion restructuring deal’s termination as “disappointing,” signaling it would “swiftly […] return value to customers via direct distributions” instead. Binance US’s about-face parallels…
Advancements in artificial intelligence are a double-edged sword for cybersecurity companies that work in decentralized finance. Web3 cybersecurity firm Forta Network monitors more than $40B in on-chain assets for clients such as Polygon, Compound, Lido, ZenGo, and crypto lending platform Euler Finance—which lost $200M last month in a cyber attack that Forta saw coming. “Many of our machine learning models…
In today’s Market Report episode, analyst and writer Marcel Pechman covers the potential triggers to move Bitcoin’s price away from $27,000, including the United State Federal Reserve meeting on May 3. The show airs every Tuesday on the Cointelegraph Markets & Research YouTube channel. The first news article discussed the catalysts for Bitcoin’s next move, including whether the Fed will…
Creditors of Singapore-based cryptocurrency lender have again expressed their desire to liquidate the company, which has been under judicial management since August 2022. There is no white knight investor on the horizon, interim judicial manager (IJM) Aaron Loh Cheng Lee explained in a circular updating the case. A circular from the IJMs dated April 25 said users representing approximately…
Recent local reports have brought to light that Shin Hyun-seong, also known as Daniel Shin, co-founder of Terraform Labs, has been indicted by the Seoul Southern District Prosecutors’ Office on charges of fraud. Along with nine others, Shin is suspected of deceiving investors and accumulating around 460 billion won ($350M) before the Terra project ultimately failed. Daniel Shin Indicted With…
Here’s an interesting new business that the AI gold rush has created: “prompt” selling. Prompt selling? Yup. Businesses are springing up that help users figure out the best queries they can pose to ChatGPT and its rapidly expanding family of AI cousins to yield the best results. “There are people on their way to making $100,000 this year from selling…
