Everything web3, crypto, defi, degen
In brief Two Seas Capital, Core Scientific’s largest active shareholder with a 6.3% stake, is opposing a $9 billion all-stock sale to CoreWeave. The hedge fund says the uncollared structure leaves investors exposed to CoreWeave’s volatile stock with no value protections. A shareholder vote later this year will coincide with CoreWeave’s IPO lockup expiry, potentially…
In brief Ripple has agreed to acquire Rail for $200 million. The Canadian stablecoin platform has key compliance features. The companies will promote RLUSD and XRP’s use in payments. Ripple has entered into a $200 million agreement to purchase Rail, a Toronto-based payments platform, the tech firm said in a press release on Thursday.The acquisition…
In brief CTM360 identified a “ClickTok” campaign using over 10,000 fake domains that mimic TikTok Shop to steal user credentials and distribute malware through phishing pages and trojanized apps. Scammers deploy fake Meta ads and AI-generated TikTok videos mimicking influencers to direct victims to fraudulent storefronts offering heavily discounted products paid for with cryptocurrency. The…
In brief Coinbase’s stock fell 17% on Friday, the day after the crypto exchange reported its second-quarter earnings. Analysts say the trading platform is poised to report stronger earnings numbers in subsequent financial quarters. Coinbase’s acquisitions and expansion beyond crypto-only services could lift its sagging stock. COIN plunged 17% on Friday, just a day after…
In brief Analysts’ Coinbase forecasts had called for $1.59 billion in total revenue. The crypto exchange giant has made multiple major acquisitions this year, including for options trading platform Deribit. The company’s stock price was down more than 6% in after-market trading. Coinbase clocked $1.5 billion in total revenue, a 25% drop from the previous financial quarter, as…
In brief A New York appeals court vacated the 2023 conviction of Nathaniel Chastain on wire fraud and money laundering charges. The court ruled Chastain’s initial trial improperly convicted him on incorrect charges, given information about what NFTs OpenSea planned to list did not constitute the company’s “property.” The case will now head back to…
In brief Developers William Lonergan Hill and Keonne Rodriguez on Wednesday pleaded guilty to operate an unlicensed money transmitting business. The two—who set up Bitcoin mixer Samourai Wallet—had changed their pleas this week. They could face up to five years in prison. The founders of Bitcoin mixer Samourai Wallet face up to five years in…
In brief AI coding startup Cognition is closing a $300M+ funding round, rocketing its “autonomous coder” Devin to a $10 billion valuation. Devin wowed Silicon Valley with viral demos, but critics say it still flubs real-world coding and needs human help. Investors keep piling in as agentic AI hype grows—despite bugs, flops, and open questions…
In brief The Senate just released a discussion draft of its own crypto market structure legislation. The House passed a companion bill last week, dubbed the CLARITY ACT. The Senate’s version differs in some meaningful ways, but the aim is the same. And it directly impacts crypto startups and future token sales through ICOs. The…
In brief Ethereum has significantly outpaced Bitcoin in recent months, with a 67% gain against Bitcoin’s 18% in the last month alone. The gap between Ethereum and Bitcoin ETF inflows is converging, dropping from 45 times to just 1.6 in the past four months. Analysts anticipate Ethereum soaring past $8,000, driven by institutional adoption, regulatory…
