The United States’ spot Bitcoin exchange-traded funds (ETF) have posted record net outflows with BlackRock’s iShares Bitcoin Trust (IBIT) also seeing its first-ever outflow day. BlackRock’s Bitcoin fund saw $36.9 million flow out on May 1, according to Farside Investors. Nine other Bitcoin ETFs saw a combined $526.8 million in outflows — the Hashdex Bitcoin ETF (DEFI) […]
Security News
US Court to hear proposed remedies from Terraform Labs, Do Kwon in May
After a jury found Terraform Labs and co-founder Do Kwon liable for fraud in a case with the United States Securities and Exchange Commission (SEC), a federal judge ordered the parties to discuss proposed remedies ranging from millions to billions of dollars. In an April 29 filing in the U.S. District Court for the Southern […]
Physical version of gold-backed token replaces Zimbabwe dollar
The Reserve Bank of Zimbabwe has introduced Zimbabwe Gold, or the ZiG, in paper and coin form, following the new currency’s debut as a digital payment method in October. It replaces the Zimbabwean dollar and is backed by a basket of gold and foreign currencies. The central bank began distributing the physical currency on April 29, and […]
Patrick McHenry accuses Gary Gensler of misleading US lawmakers over Ether
United States House Financial Services Committee Chair Patrick McHenry has alleged Securities and Exchange Commission Chair Gary Gensler “knowingly misled Congress” over the regulator’s alleged attempts to classify Ether as a security. In an April 30 X post, Representative McHenry claimed that Gensler intentionally misled lawmakers in testimony before the Committee. The U.S. lawmaker referred to claims […]
Bankruptcy judge signs off on $450M FTX-Voyager settlement
A judge has granted a motion authorizing debtors for defunct cryptocurrency exchange FTX to enter a $450-million settlement agreement with bankrupt firm Voyager Digital. In an April 29 filing in the United States Bankruptcy Court for the District of Delaware, Judge John Dorsey approved the terms of an agreement between FTX and Voyager, allowing the latter to […]
Hong Kong ETFs opens the ‘door’ to Chinese RMB holders, issuers say
Spot crypto exchange-traded funds launched in the Hong Kong stock market have cracked the door open for a future wave of Chinese investors, according to industry experts. Speaking to Bloomberg TV, China Asset Management’s CEO, Yimei Li, said that the launch of the spot Bitcoin and Ethereum ETFs on Tuesday “opens the door for a […]
Terraform proposes $1M penalty for SEC case, no relief or disgorgement
Lawyers representing Terraform Labs have filed a motion in opposition to a request from the United States Securities and Exchange Commission (SEC) for $5.3 billion in disgorgement and civil penalties against the firm and its co-founder Do Kwon. In an April 26 filing in U.S. District Court for the Southern District of New York, Terraform’s legal […]
Europe needs ‘Airbus for the metaverse’ to become global Web4 leader
LSE Consulting, a firm anchored within the London School of Economics and Political Science (LSE), recently released a report detailing a potential path towards European dominance in the emerging Web 4.0 sector. According to the team, the formation of an Airbus-style industrial conglomerate dedicated to fostering innovation and growth in the metaverse is the EU’s best bet […]
Sam Altman’s OpenAI reportedly in partnership talks with his other firm, Worldcoin
OpenAI, an artificial intelligence company co-founded and helmed by Sam Altman, is reportedly in partnership talks with Tools For Humanity’s Worldcoin, a cryptocurrency-based universal basic income and identity verification firm also co-founded by Sam Altman. Bloomberg recently reported that the two firms are in negotiations for a partnership that would see OpenAI providing AI solutions and services […]
DOJ challenges motion to dismiss Tornado Cash co-founder’s charges
The United States Department of Justice (DOJ) has opposed a motion to dismiss conspiracy and money laundering charges against Tornado Cash co-founder Roman Storm arguing that filing raised disputed facts for jury consideration, which is unsuited for early-stage motions. In the DOJ’s response, the prosecutors analyzed why the Tornado Cash co-founder should answer for the alleged […]