Tag Archives: AA News

Superdao, a platform founded to help with the development of decentralized autonomous organizations (DAO), said it would shut down operations due to unprofitable returns and would refund investors. The platform raised over $10 million in 2022 and supported more than 2,000 DAO launches. Superdao to Exit Market Superdao CEO Yury Lifshits announced plans to wind down operations, stating that providing specialized crypto infrastructure is not a profitable project because the...

Do Kwon, the co-founder of Terraform Labs, is at the center of a legal storm as new revelations regarding the terraUSD (UST) stablecoin collapse in 2022 come to light. Kwon is under investigation, with recent developments indicating that the involvement of market maker Jump Trading could be crucial in the legal proceedings. Jump Trading’s Profits Under Scrutiny in TerraUSD Case Following the collapse of the UST stablecoin in May 2022, Kwon was sued by the U.S. Securities and...

New York Attorney General Letitia James has taken decisive action against major players in the cryptocurrency industry, filing a lawsuit against Gemini Trust, Genesis Global Capital, and Digital Currency Group (DCG). The legal action centers around Gemini Earn, a joint effort between Genesis and Gemini that offered investors significant returns on their cryptocurrency deposits. Nonetheless, James asserts that these returns were founded on misleading information, resulting in...

BNB Chain – the community-driven blockchain ecosystem – announced the public launch of the Greenfield Mainnet. According to the official blog post, Greenfield is a decentralized storage-centric network designed to cater to data-intensive decentralized applications within the BNB ecosystem. This network aims to offer customizable storage solutions that seamlessly integrate with smart contracts on the BNB Smart Chain. BNB Doubles Down on Decentralized Data Storage During...

The Biden administration is being called upon by over 100 lawmakers in the United States to clarify its efforts at combatting global terrorist financing using cryptocurrencies. The bipartisan letter follows reports that Hamas, the Islamist organization that launched attacks on Israeli civilians earlier this month, used crypto to raise millions of dollars over the past two years. Terrorism and Crypto Citing the Wall Street Journal, lawmakers alleged that between August 2021...

Bitcoin ASIC manufacturing giant – Bitmain – has reportedly fired four of its employees who leaked salary information and cited the “illegal publication of the company’s announcement on salary release” as the reason behind the move. It emphasized its “Management Standards for External Information Disclosure” once again in the notification, underscoring the requirement that employees should refrain from sharing any company information with external parties without proper...

After years of delaying and stonewalling a highly anticipated spot Bitcoin ETF, the Securities and Exchange Commission (SEC) is starting to have more productive conversations about the product with hopeful applicants. One such hopeful is Cathie Wood, CEO of Ark Invest, who said on Monday that her company has noticed a positive “change in behavior” from the regulator. Warming Up to a Bitcoin ETF During an interview with CNBC on Monday, Wood noted that Ark disclosed its...

Yuga Labs, the creative force behind the popular Bored Ape Yacht Club (BAYC) NFT collection, has completed a restructuring phase to position it for long-term success. In a message to the community, Yuga Labs CEO Daniel Alegre shared insights into the company’s journey, achievements, and a renewed focus on the metaverse project, Otherside. Yuga Labs Sets Sights on Otherside Metaverse Project Yuga Lab’s CEO, Daniel Alegre, recently took to X to announce that the team had...

New details show that Bankman-Fried had a packed schedule in September 2022, with meetings involving influential individuals less than two months before the exchange’s downfall. From close connections with Bahamian authorities and former President Bill Clinton to an evening at the preferred late-night spot of New York City Mayor Eric Adams, here’s what’s new in the trial. Sam Bankman-Fried’s Political Web Unveiled As per the testimony of FBI special agent Richard Busick,...

Bitcoin briefly soared toward $30,000 following a false spot Bitcoin ETF approval information before swiftly retreating to the $28,000 level. But an actual approval could add $1 trillion to the crypto market, according to the latest report by CryptoQuant. The next wave of Bitcoin institutional adoption appears to be advancing in the form of financial institutions offering access to the flagship cryptocurrency investing to their clients via spot Bitcoin ETFs. $1 Trillion...