Tag Archives: AA News

Bankrupt cryptocurrency entities FTX, FTX.US, and Alameda Research have filed a lawsuit against former executives Sam Bankman-Fried (SBF), Nishad Singh, and Gary Wang for lavishly spending FTX Group’s assets on the acquisition of stock clearing firm Embed Financial Technologies. The move is the first formal action from FTX CEO John Ray against the company’s former management. The lawsuit, filed in the United States Bankruptcy Court for the District of Delaware, seeks to claw...

Lido Finance – which is the largest liquid staking protocol on Ethereum – upgraded to version 2 earlier this week. The move essentially enabled liquid staking users, meaning, the holders of staked ether (stETH), to withdraw stETH to ETH from Lido at a 1:1 ratio. The latest data suggest that only 0.42% of the withdrawals have been processed so far. Aftermath of V2 Upgrade According to Switzerland-based 21Shares’ estimates, Lido Finance currently owns 31% of the total ETH...

Synthetix (SNX) is trading 10% up over the 24-hour period. The recent spike in price comes amid a new proposal. SNX bulls likely have PEPE madness to thank for the market bump. The classic meme frog cryptocurrency is adding value to every market it touches. Volumes surged 150% in the wake of Synthetix Improvement Proposal (SIP) 2014. That would add PEPE coin markets to the L2 blockchain. Synthetix is a decentralized exchange for trading “synthetic” crypto assets. It operates...

Online discussions continue to swirl around Ledger’s new firmware update for its crypto hardware wallet, which experts have claimed could put users’ private keys at risk.  Ledger published a Twitter thread on Wednesday attempting to alleviate concerns around the safety of users’ assets, but published a self-contradictory and confusing tweet that stoked the flames of controversy even further.  Ledger’s Worrying Tweet In a now-deleted tweet, Ledger support verified criticisms...

Brad Garlinghouse, the chief executive officer of blockchain company Ripple, believes more crypto firms and businesses will leave the United States due to confusing regulations in the country. During an interview with CNBC, the CEO said the confusion in the country would push crypto entrepreneurs and investments into other friendly regions like Europe, the United Arab Emirates (UAE), the United Kingdom, and even Singapore. Regulatory Confusion in the U.S. Garlinghouse noted...

Bankrupt crypto lending platform Voyager Digital won court approval on Wednesday to begin repaying its customers’ long-trapped money. So far, customers are only guaranteed to receive 36% of what they’re owed.  The approval to commence liquidation procedures comes over 10 months after Voyageur froze customer withdrawals in July 2022, shortly after defunct hedge fund Three Arrows Capital (3AC) filed for bankruptcy.  As reported by Bloomberg, Judge Michael Wiles said that...

The United Kingdom has grand aspirations of becoming a digital assets hub, just as London already is for traditional finance. However, those plans are being thwarted by watchdogs and policymakers who want to take a heavy-handed approach to regulation. On May 17, it was reported that a panel of UK lawmakers said crypto assets should be regulated as gambling “given they are potentially used by fraudsters and pose significant risks to consumers.” The report from Parliament’s...

Famous Canadian psychologist and political commentator Jordan Peterson believes Bitcoin is the only “viable” monetary alternative in a future world dominated by central bank digital currency (CBDC). The intellectual recently spoke with tech expert and entrepreneur Brian Roemmele about artificial intelligence and other emerging technologies, highlighting how Bitcoin can serve to shield the world from its tyrannical excesses.  Using Bitcoin for Communication In an interview...

Signature Bank’s involvement in the digital asset industry was the reason that ultimately caused its demise, according to FDIC’s Martin Gruenberg. The chair also acknowledged FDIC’s shortcomings in not acting sooner to prevent the crisis from spreading throughout Signature’s operations. Gruenberg further added that the agency’s supervision could have been stronger. Crypto Culpable in Signature’s Collapse: FDIC Chair In a speech before the House Committee on Financial...

After the frenzy of BRC-20 tokens in the Bitcoin network, their DRC-20 counterparties have triggered a massive spike in Dogecoin’s transaction volume. The OG memecoin experienced a significant surge in daily transactions and even surpassed that of Bitcoin and Litecoin briefly for the first time ever. According to data compiled by BitInfoCharts, the daily Dogecoin skyrocketed on May 13th and peaked above 628,000. Transactions for Bitcoin and Litecoin, on the other hand, stood...