FTX sold $240 million in crypto this month, bringing their total to $500 million, potentially impacting market dynamics. FTX proposes returning billions to customers and creditors, but unanswered questions persist. Despite uncertainties, key stakeholders back the broad outlines of FTX’s comeback attempt. In a game-changing move, FTX Trading Ltd., the crypto exchange caught up in bankruptcy proceedings, has just liquidated […]

Crypto market hype and the “commercial release” of several highly anticipated blockchain games will likely onboard “tens of millions” gamers to Web3 in 2024, according to Web3 gaming execs. “2024 is a growth year in terms of bringing people on to Web3,” said Yat Siu, co-founder of gaming and venture firm Animoca Brands, in an interview with Cointelegraph. In the […]

All Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) nonfungible tokens (NFTs) stolen from the peer-to-peer trading platform NFT Trader have been returned after a bounty payment.  NFTs worth nearly $3 million were stolen in the hack on Dec. 16. As per public messages, the attacker attributed the original exploit to another user. “I came here to […]

The Ministry of Finance of Palau officially launched the second phase of its Palau Stablecoin (PSC) program. Jay Hunter Anson, a cybersecurity consultant in Palau and adviser to the Ministry of Finance, confirmed the program’s second phase launch on Dec. 15 in a post on X (formerly Twitter). Anson said that Palau aims to extend its partnership with Ripple in […]

The debtors of the now-defunct cryptocurrency exchange FTX have filed an amended Chapter 11 plan of reorganization which indicates the value of customer asset claims will be retroactively set to the time when the exchange collapsed in November 2022.  In a recent court filing in the United States Bankruptcy Court for the District of Delaware the debtors outlined that any […]

Cardano (ADA) has been riding a wave of unprecedented growth, catapulting its total value locked (TVL) from a humble $50 million to an impressive $438 million in 2023, as per DeFillama data. This major rally of 880% over the year speaks volumes about Cardano’s ascending presence and significance within the decentralised finance (DeFi) realm. At the heart of this astounding […]

Tether, the company behind the stablecoin Tether (USDT), disclosed letters directed to U.S. legislators, addressing requests for intervention by the Department of Justice in relation to the illicit use of its stablecoin. The communications were sent to members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs and the U.S. House Financial Services Committee on Nov. 16 and […]

Coinbase, the largest U.S.-based cryptocurrency exchange, is set to confront the U.S. Securities and Exchange Commission (SEC) in court. This legal battle represents a critical moment in the ongoing discourse around cryptocurrency regulation in the United States. Coinbase Seeks Judicial Intervention Coinbase’s Chief Legal Officer, Paul Grewal, has announced the company’s intention to approach the Third Circuit court following the […]

Renewable Bitcoin (BTC) mining firm Iris Energy is set to increase its total hash rate to 10 exahashes per second (EH/s) in 2024 by acquiring new Bitmain T21 mining rigs. The company announced it had acquired an additional 1.6 EH/s of Bitmain T21 miners, set for delivery in the second quarter of 2024. The company currently has 5.6 EH/s of operational […]