Defense attorneys representing Sam “SBF” Bankman-Fried questioned the former FTX CEO in front of a jury for the first time as they prepared to rest their case. According to reports from the New York courtroom on Oct. 27, Bankman-Fried denied defrauding FTX customers during his time leading the crypto exchange. The former CEO reportedly said he knew “basically nothing” about…
After finally launching its highly anticipated blockchain yesterday, dYdX is now trotting a unique new tokenomics scheme. Perhaps the most notable change will be that trading fees on the decentralized derivatives platform will now be denominated in the dollar-pegged stablecoin USD Coin. Maintained and minted by Circle, USDC is a cryptocurrency that tracks the price of the U.S. dollar and…
Decentralized cryptocurrency exchange dYdX has launched its layer 1 blockchain with the creation of its genesis block which will operate using native DYDX tokens. The dYdX Chain is set to distribute all fees to validators and stakers in USD Coin (USDC). This includes trading fees denominated in USDC as well as gas fees for DYDX-denominated transactions or USDC-denominated transactions. The…
We are pleased to announce the appointment of Bivu Das as our new UK Managing Director. Bivu brings nearly two decades of commercial enterprise and fintech strategy development experience to Kraken. His arrival coincides with the UK making important strides to become a globally recognised crypto hub. Bivu will oversee our extensive network of regulatory, political and commercial relationships as…
For the most part, nonfungible tokens (NFTs) have two primary use cases: Buying and selling digital products (digital art, virtual fashion items) and building digital communities (exclusive memberships, access to events). These use cases can be easily adopted by brands and companies, such as fashion brands selling digital clothes, various companies offering NFT-based club memberships and musicians holding exclusive concerts…
Cryptocurrencies are still used by terrorist groups like Hamas, however, their use is still limited compared to more traditional alternatives, said U.S. Deputy Treasury Secretary Wally Adeyemo. “The thing that we know about terrorist groups and those who look to move money illicitly, is that they’re going to use any new technology to try to do that,” said Adeyemo during…
Elon Musk’s venture, X (formerly known as Twitter), aims to position itself as a central financial hub, encouraging individuals to consider using X as their primary financial solution instead of traditional bank accounts for various financial requirements. According to reports, during the inaugural all-hands meeting on Oct. 26, Elon Musk articulated his vision for transforming the platform into a financial…
Bitcoin’s (BTC) rise to as high as $35,000 this week has also lifted a number of memecoins, including Floki (FLOKI), which has beaten its top rivals in percentage gains. FLOKI price up 140% amid Bitcoin ETF hype, TokenFi launch As of Oct. 27, FLOKI had surged over 140% to $0.00004261, its highest level in five months. The memecoin, known for…
Cryptocurrency hardware wallet provider Trezor is investigating the recent phishing campaign as users report getting phishing emails. The anonymous blockchain sleuth ZachXBT took to his Telegram channel on Oct. 26 to alert users to a phishing attack targeting Trezor customers. ZachXBT referred to an X (formerly Twitter) post from the account JHDN, which alleged that Trezor may have been breached after…
A bridge too far it seems for LayerZero. After announcing it would integrate a wrapped version of Lido’s ever-popular staked Ethereum token, the team behind the cross-chain protocol was hit with hefty backlash from the Lido community. The wrapped version of stETH is an ERC-20 version of the original blend stETH, making it easier to be reused in other applications.…
