Lawyers for disgraced former FTX CEO Sam Bankman-Fried (SBF) have argued that judges should consider their client’s autism traits when deciding his prison sentence. SBF faces a maximum of 110 years between seven counts of money laundering, wire fraud and securities fraud. However, his defense team argues a sentence of 5-to-6.5 years if fairer, as...
After exploiting a vulnerability in the Seneca protocol on Wednesday, a hacker returned $5.3 million in stolen funds to the project on February 29. The returned amount represents 80% of the reported $6.4 million stolen funds. The hacker agreed to accept a 20% bounty, amounting to $1.28 million, as recognition for identifying the vulnerability within...
In a new development for the emerging U.S. cryptocurrency regulation landscape, the Chamber of Digital Commerce has voiced its backing for Kraken amid the exchange’s ongoing legal battle with the SEC. This support was conveyed in February 27 court filing, as Kraken continues to counter allegations from the SEC that it operated unlawfully. According to...
The newly launched IOTA Ecosystem Foundation is committing $10 million to early-stage startups focused on tokenized trading for real-world assets (RWAs). The specific startups receiving funding will be revealed in the coming weeks, though the initial investment will focus on companies in the United Arab Emirates (UAE) and Africa, according to a February 29 press...
The Federal Reserve Bank of Atlanta has raised warning over risks associated with blockchain and cryptos. Per statement released Monday, the Atlanta Fed advised banks and financial service providers to exercise caution while dealing with cryptos. “Banking organizations and their service providers should have systems to identify, monitor, and control risks,” the statement read. The...
ARK Invest, the asset management firm and Bitcoin exchange-traded fund (ETF) issuer led by Bitcoin advocate Cathie Wood, has sold a significant amount of Coinbase, Robinhood, and Nvidia stocks. According to Ark Invest Daily’s Feb. 26 reveals, the ARK Innovation ETF (ARKK) sold 35,509 Coinbase (COIN) shares worth $6.89 million based on its closing price...
The market capitalization of Circle’s USDC moved past $28 billion with a gradual increase from Q4 2023 amid wider institutional investments. A new Coinbase report shows a resurgence in the USDC market following the general market upturn and growth in non-U.S markets. The market cap for stablecoins is rising… and USDC is outperforming – up...
OKX, a leading global Web3 technology company and crypto exchange, has officially unveiled OKX TR, its crypto exchange tailored for users in Turkey. The launch marks a significant step in providing Turkish users with a trusted, compliant, and transparent gateway to crypto trading and decentralized finance (DeFi). The company revealed the launch on February 27. OKX TR...
US Senators have renewed their assault on any potential central bank digital currency (CBDC) based on the dollar. Republican lawmakers including Ted Cruz, Bill Hagerty, Rick Scott, Ted Budd, and Mike Braun, yesterday filed The CBDC Anti-Surveillance State Act. Their proposal pulls no punches. One part amends the Federal Reserve Act to read: ‘‘no Federal...
Spain’s financial regulator has issued warnings to investors regarding 18 companies offering services in the country despite facing registration issues. The National Securities Markets Commission (CNMV) published a list of 18 financial firms operating without the regulatory nod on Feb 26. The list, which is comprised of several traditional finance firms, includes three cryptocurrency companies:...