The U.S. Securities and Exchange Commission (SEC) has opposed cryptocurrency exchange Coinbase’s request for an interlocutory appeal concerning a “controlling question” in the ongoing lawsuit, alleging that Coinbase is seeking to manipulate the interpretation of the question itself. “Coinbase’s attempts to manipulate the question for appeal to shoehorn it into a certifiable question under 28 […]
Security News
Crypto firms brace for intensified SEC, CFTC action after regulator warning
The inflow of new investors into the crypto industry has been a boon for adoption but has also come at a cost. Now more than ever, the crypto industry is under the watchful eye of regulators concerned about market manipulation, investor protection, and the potential for crypto to facilitate illicit activities. The United States Commodity […]
ARK and 21Shares drop staking plans from Ethereum ETF proposal
ARK Invest and 21Shares removed their staking plans from their updated spot Ethereum ETF proposal, submitted on Friday, May 10. In the updated filing submitted on Friday, there is a noticeable absence of a clause stating that 21Shares would stake a portion of the fund’s assets through third-party providers. It said, “Sponsor may, from time […]
BlockFi partners with Coinbase for fund distribution, shuts down web platform
Bankrupt crypto lender BlockFi is completing its wind-down of operations, revealing its intention to shut down its web platform in May. BlockFi has partnered with Coinbase to allow clients to access and withdraw funds. In a blog post, the company stated that its collaboration with Coinbase will enable “eligible BlockFi Interest Accounts (BIA), Retail Loans, and Private […]
SBF maintains his innocence as he trades rice in jail
FTX co-founder Sam Bankman-Fried still maintains his innocence despite getting 25 years in jail for fraud and while he plans his appeal, he’s taken to commodities trading — namely bags of rice. In his first in-person chat with the media since being locked up in Brooklyn’s Metropolitan Detention Center (MDC) in August 2023, Bankman-Fried spoke […]
President Joe Biden is trying hard to ‘kill crypto,’ says Cardano founder
Cardano founder Charles Hoskinson has lashed out at United States President Joe Biden, claiming that he’s making a concerted effort to kill the crypto industry in the United States. In a May 9 video posted to X, Hoskinson said it was “unambiguously clear” the Biden administration is trying its best to “destroy the American cryptocurrency […]
Optimism to roll out new Superchain features for layer-3 devs
Ethereum scaling solution provider Optimism is looking to take its blockchain throughput a step further by onboarding layer-3 applications on top of the OP Stack. On May 8, the Optimism team said that they were welcoming layer-3s to the Superchain where they can build on the OP Stack and share revenue with the Optimism Collective. The OP Stack is […]
House votes to nullify SEC’s anti-crypto banking guidance SAB 121
The United States House of Representatives has voted to pass a bill that overturns controversial Securities and Exchange Commission guidance preventing banks from owning crypto. President Joe Biden, however, warned earlier in the day that he would veto the new bill if it were to make it to his desk. On May 8, the House […]
Core Scientific sees revenue surge in 1Q24 after emerging from bankruptcy
Bitcoin miner firm Core Scientific posted improved financial results for the first quarter since emerging from bankruptcy. The company reported a total revenue of $179.3 million, marking an increase of $58.6 million over the same period in 2023. Net income for the quarter reached $210.7 million, an increase from the net loss of $0.4 million reported for the […]
LocalMonero exchange shuts down as crypto privacy services dwindle
Peer-to-peer trading platform for privacy coin Monero has shuttered its services effective immediately, adding to the recent wave of crypto privacy closures and arrests. On May 7, LocalMonero announced that, effective immediately, all new signups and advertisement postings for Monero trades are disabled. On May 14, the platform will disable the trading of the privacy-focused crypto asset. […]