Everything web3, crypto, defi, degen
In brief FTX’s new management is suing Bitcoin miner Genesis Digital Assets for $1.15 billion. The FTX Recovery Trust alleges that the exchange’s ex-CEO Sam Bankman-Fried used comingled customer cash to invest in Genesis Digital Assets. FTX collapsed in 2022 and Bankman-Fried is now serving a 25-year prison sentence. The FTX Recovery Trust is suing…
The crypto landscape is evolving faster than ever before, drawing in a new wave of mainstream investors. We’re here to simplify that journey, making crypto investing smarter, more accessible and easier for everyone. That’s why we’re excited to launch Bundles – an innovative new feature in the Kraken platform that lets you buy diversified portfolios…
In brief Tidal Financial Group applied for a leveraged AltAlt Season Crypto ETF, along with two other filings on Thursday. The proposed fund confounded even some of the fund industry’s sharpest observers unsure what an “alt alt season” was. The fund will relate initially to the performance of XRP and Solana, and exclude Bitcoin and…
In brief The FTX Recovery Trust has announced its third distribution to former clients of the bankrupt exchange. A total of $1.6 billion will be repaid to creditors this time. The FTX brand went bankrupt in 2022 after it was criminally mismanaged. Creditors of collapsed crypto exchange FTX will receive $1.6 billion at the end…
In brief Myriad Markets gives ~32% odds MetaMask launches a token before November; Polymarket traders price higher for a 2025 drop. CEO Joe Lubin has confirmed a token is coming and says the timeline may be “sooner than expected,” stoking airdrop speculation. Regulatory risk looms: SEC’s lawsuit against ConsenSys could delay or shape the token’s…
In brief The plan includes auto-enrolment pensions, tax incentives, and steps toward market integration. Oversight changes could give ESMA a role in supervising crypto and cross-border infrastructures. The push follows warnings on stalled reforms and comes amid debate over the digital euro. The European Union is preparing a year-end push to expand pension savings and…
In brief Kevin Durant has regained access to his Coinbase account, the exchange confirmed. Durant’s agent told a conference audience earlier this week that the star forward couldn’t find his account information. Durant first bought Bitcoin in 2016 when it was trading at about $600. NBA mega star Kevin Durant has regained access to his…
In brief Nvidia invested $5 billion in Intel and agreed to co-develop custom chips for PCs and data centers. Jensen Huang framed the deal as coupling Nvidia’s accelerated computing with Intel’s x86 platforms. The move followed reports that China banned local tech firms from buying Nvidia AI chips. Nvidia announced Thursday it would invest $5…
In brief Digital asset custodian BDACS has launched KRW1, South Korea’s first fully regulated won-backed stablecoin, through a partnership with Woori Bank. Each token maintains full collateralization with Korean won held in Woori Bank escrow, according to BDACS. The launch comes amid competing parliamentary bills that debate interest payments and capital requirements for stablecoin issuers.…
In brief ASIC has granted class relief for intermediaries distributing stablecoins issued under an AFS licence. An expert told Decrypt this “helps bridge regulatory friction while Treasury finalises its proposed stablecoin regime.” ASIC noted the relief could be extended to additional issuers as more look to secure AFS licences. The Australian Securities and Investments Commission…
