The judges presiding over Coinbase and Binance’s lawsuits will likely watch the results of the SEC v Ripple case closely, crypto lawyers told Cointelegraph. Ripple has been in a legal battle with the SEC since December 2020. The regulator alleges it was offering unregistered securities via XRP (XRP) since 2013. On June 6 the SEC filed a lawsuit against Coinbase…
Credit ratings agency Moody’s has downgraded its rating of Coinbase from “stable” to “negative” following the SEC’s legal action against the crypto exchange for allegedly operating as an unregistered securities broker. In a June 8 statement, Moody’s said the downgrade was due to concerns about the impact of the SEC action on Coinbase’s day-to-day operations. “The change in outlook to…
Binance.US has announced the suspension of U.S. dollar deposits and has notified its customers of an incoming pause to fiat (USD) withdrawal channels as early as June 13. On June 9, Binance.US announced that it was forced to take action amid “extremely aggressive and intimidating tactics” from the Securities and Exchange Commission. The firm noted that, in an effort to…
In a lengthy Twitter thread, Marc Andreessen—noted venture capitalist and co-founder and general partner at Andreessen Horowitz—laid out the case for allowing AI development, but warned about creating a “government-protected cartel.” “Big AI companies should be allowed to build AI as fast and aggressively as they can—but not allowed to achieve regulatory capture, [and] not allowed to establish a government-protect…
Pro-Bitcoin (BTC) presidential bidder Ron DeSantis has been tagged for apparently using artificial intelligence-generated images in an ad campaign smearing rival and former president Donald Trump. It comes amid a rise in AI-generated deep fakes being used in political ads and movements in recent months. On June 5, DeSantis’ campaign tweeted a video purporting to show Trump’s close support of…
Ethereum co-founder Vitalik Buterin is working with India-based crypto fund Crypto Relief and Polygon co founder Sandeep Nailwal to send $100 million towards COVID-19 research and medical infrastructure development in India. Buterin and Nailwal will receive $90 million in USD Coin (USDC) from Crypto Relief, while Buterin will provide $10 million out of his own pocket to further the cause.…
Wallet infrastructure provider and digital asset custodian BitGo have signed a non-binding letter of intent to acquire fintech infrastructure provider Prime Trust, according to an announcement on June 8. The terms of the agreement were not disclosed. If the deal goes through, BitGo will acquire Prime Trust’s payment rails and cryptocurrency IRA fund and increase its wealth management offerings. Prime Trust’s Nevada…
Alibaba NFTs… censored? On June 8, AliExpress, the online retail subsidiary of Chinese tech conglomerate Alibaba, announced that it had joined forces with Web3 developer The Moment3! to create a series of NFTs based on shopping themes. The upcoming collection will feature 5,555 NFTs and is scheduled to debut on June 25, 2023. Less than one day after the announcement…
This story comes from GG. Your Web3 Gaming Power-Up Discover GG HyperPlay, a platform (or launcher) for accessing Web3-native games, has raised a $12 million Series A funding round co-led by Griffin Gaming Partners and Bitkraft Ventures. Ethereum software studio ConsenSys also participated in the round. The startup was founded last November as a joint initiative between ConsenSys, the parent…
In a June 8 speech at the Piper Sandler Global Exchange & Fintech Conference, United States Securities and Exchange Commission (SEC) Chair Gary Gensler compared the current crypto market to the 1920s U.S. stock market, saying that it is full of “hucksters,” “fraudsters,” and “Ponzi schemes.” Just as Congress cleaned up the stock market by enacting securities laws, the current…
