Everything web3, crypto, defi, degen
In brief Wyoming’s Frontier Stable Token debuted on seven networks, including Ethereum, Solana, and Avalanche. The token could offer a yield in the future, while funding local education. It could theoretically be issued on more than 110 networks through LayerZero. Wyoming’s stablecoin debuted across seven blockchains on Tuesday, a new milestone for the Cowboy State…
In brief Powerful crypto companies including Coinbase, DCG, Kraken and Paradigm are teaming up with top lobbyists to introduce a new nonprofit focused on educating policymakers about decentralized technologies. As a 501(c)(3), the American Innovation Project (AIP) will enjoy key benefits including tax exempt status and limited liability for operators and participants. By law, however,…
In brief Charles O. Parks III, aka “CP3O,” has been sentenced to just over a year in prison for a $3.5 million cryptojacking scheme. Parks mined nearly $1 million in cryptocurrency using stolen cloud computing power. He has forfeited $500,000 and a Mercedes-Benz, with restitution pending. A Nebraska man has been sentenced to one year…
In brief New York State Assemblymember Phil Steck proposed a 0.2% excise tax on cryptocurrency transactions. He estimates that the tax would generate $158 million annually, based on Chainalysis data from 2022 to 2023 and recent GDP statistics. The revenue would help combat substance abuse in upstate New York. New York Assemblymember Phil Steck introduced…
In brief Andreessen Horowitz and the DeFi Education Fund have requested the SEC create a safe harbor to shield dapp developers from being labeled broker-dealers. The recommendations would enable certain centralized entities retaining control over a crypto app to gain safe harbor if they have demonstrated “good faith to decentralize.” The proposal follows SEC chair…
In brief The Philippine SEC has cut off access to foreign crypto platforms offering services to residents of the country. The SEC warned that the platforms are operating illegally without licenses or registration. Local platforms may benefit from the shift, though the crackdown has drawn criticism from users over perceived monopolistic moves, Decrypt was told.…
In brief Chirag Tomar, jailed in the U.S. for a $20 million crypto scam involving fake Coinbase websites, has $4.8 million (₹42.8 crore) in assets seized by India’s Enforcement Directorate. Authorities say Tomar ran a sophisticated phishing scheme and funneled proceeds into Indian bank accounts via P2P platforms. ED has attached 18 properties in Delhi…
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 Steam and Itch.io removed a wide range of adult games, following Collective Shout issuing an open letter to payment processors about titles involving “rape, incest, and child sexual abuse-themed games.” Collective Shout told Decrypt that it had “discussed” also pressuring crypto payment processors to do the same and may revisit the issue in…
In brief Dating app Flirtini launched “Flirty Mood,” an AI chatbot sex coach, to curb the deluge of unsolicited nudes and help men learn respectful sexting. 78% of women report receiving unwanted nude photos; nearly half of men are open to practicing with AI before messaging real matches. Half of women say AI coaching could…
