Kim Kardashian, Floyd Mayweather and other celebrities are looking to convince a judge to dismiss another revised attempt to hold them liable for allegedly promoting EthereumMax (EMAX) without proper disclosure.  The celebrities asked a California federal judge to dismiss a second amended complaint from EthereumMax investors filed in December. According to the defendants, the renewed allegations pushes the “same basic […]

The community of decentralized finance stablecoin protocol Frax Finance has voted to fully collateralize its native stablecoin Frax (FRAX), marking an end to the algorithmic backing of the protocol. The FIP-188 governance proposal initially posted on Feb. 15 reached a quorum following a 98% vote in favor, according to a snapshot on Feb. 23 — which would change the collateralization model […]

Cryptocurrency exchange CoinEx has been sued by the New York Attorney General, Letitia James, alleging the firm falsely represented itself as an exchange due to failing to register as a securities and commodities broker-dealer in the state. A 38-page petition filed by James in the New York Supreme Court on Feb. 22 alleged CoinEx “engaged in repeated and persistent fraudulent […]

The founders behind the alleged $340 million “global Ponzi” scheme Forsage have been indicted by a federal grand jury in the District of Oregon. The four Russian founders — Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev, and Sergey Maslakov — have been formally accused of having key roles in the scheme which raised approximately $340 million from victim-investors, according to a Feb. […]

Layer-2 scaling solution Polygon (MATIC) has not processed a block in over an hour and a half, leading some to believe that the blockchain network could be suffering from an outage. According to data from Polygonscan, the blockchain’s last block and transaction was processed at around 8:35 pm UTC on Feb. 22. The network has previously suffered network outages, with […]

Google’s cloud computing arm has added another string to its Web3 bow, with a new partnership to see it becoming a network validator, or “corporate baker” to the Tezos blockchain. On Feb. 22, Tezos Foundation, a Swiss non-profit foundation supporting the Tezos blockchain announced it has teamed up with Google Cloud which will allow customers of the cloud computing business to […]

The Canadian Securities Administrators (CSA) published a notice on Feb. 22 describing new commitments it expects from crypto asset trading platforms (CTPs) seeking registration in Canada. The CTPs will enter into a new version of preregistration undertakings (PRUs), which are legally binding documents. Registered CTPs will be contacted by their principal regulators about compliance with the new expectations.  The new […]

As Hong Kong considers throwing open crypto trading to retail investors, the Chinese government is reportedly subtly supporting the idea. This is eye-catching because it follows Beijing’s complete ban in 2021 on all crypto-related transactions in mainland China.  Hong Kong Wants To Become A Crypto Hub After blocking retail crypto traders in 2018, Hong Kong now looks ready to invite […]