Everything web3, crypto, defi, degen
In brief Coinbase has filed a letter with the DOJ urging federal preemption of state crypto laws, citing Oregon’s securities suit, New York’s ETH stance, and staking bans. Chief Legal Officer Paul Grewal called state actions “government run amok,” warning that patchwork enforcement “slows innovation and harms consumers.” A legal expert told Decrypt that states…
In brief Google’s Gemini to #1 in app downloads this month and Search interests this week. This is the first time Gemini app dethrones ChatGPT. This also helped boost Google’s valuation to beat $3 trillion, just behind Nvidia, Apple and Microsoft. Google’s Gemini app hit the top of the Apple App Store on September 15,…
In brief PayPal launched PayPal Links, a peer-to-peer payment tool for messaging apps that will soon support transfers of Bitcoin, Ethereum, PayPal’s PYUSD stablecoin, and other tokens. The program will first roll out in the U.S. before expanding to the U.K., Italy, and other markets later this month. Crypto transfers between friends and family on…
In brief David Klasing, dual-certified tax attorney and CPA, says the IRS has moved from targeting “narrower groups” to broader crypto compliance investigations across multiple exchanges. The Treasury Inspector General reports a 75% potential non-compliance rate among crypto users identified through exchange data, feeding the audit pipeline. Nick Waytula, attorney and head of tax at…
In brief Gemini debuts on Nasdaq with $4.4B valuation, shares up 22.6% amid regulatory drama with CFTC nominee. Figure launches public trading at $5.3B valuation as crypto lending meets capital markets. Tokenization gains momentum with BlackRock eyeing ETF tokenization and Nasdaq proposing tokenized stock trading. Public Keys is a weekly roundup from Decrypt that tracks…
In brief The FTC has issued orders to seven companies requiring detailed disclosure of safety protocols and monetization strategies within 45 days. The probe comes amid growing concerns about AI chatbots’ impact on children, with safety advocates calling for stronger protections. Companies must reveal user data handling by age group and safeguards preventing inappropriate interactions…
In brief Coinbase has accused the SEC of destroying nearly a year of former Chair Gary Gensler’s text messages. A recent SEC Inspector General report revealed texts from October 2022 to September 2023 were permanently erased during a critical crypto enforcement period. The U.S. exchange wants expedited discovery, sanctions, and immediate production after the SEC…
In brief Two technicians were arrested for allegedly setting up eight illicit crypto mining rigs. Running the hidden mining rigs inflated monthly electricity bills for care homes. Illegal crypto mining has become a growing problem globally. Hong Kong police have detained two men on suspicion of diverting electricity from care homes for the disabled to…
In brief GameStop disclosed 4,710 BTC on its balance sheet, valued at $528.6 million with $28.6 million in unrealized gains. Net loss narrowed to $18.5 million from a $44.8 million profit in Q1. Revenue slipped to $673.9 million from $732.4 million while operating costs fell as collectibles sales rose. GameStop narrowed its quarterly loss after…
In brief Harvard’s PDGrapher AI model predicts gene-drug combinations that could reverse diseased cell states. Early targets include Parkinson’s, Alzheimer’s, and rare disorders like X-linked Dystonia-Parkinsonism. The tool adds to a wave of AI breakthroughs in biotech, from AlphaFold to generative drug discovery. Researchers at Harvard Medical School have unveiled a new artificial intelligence model…
