Everything web3, crypto, defi, degen
In brief The Wyoming Stable Token (WYST) won’t initially offer a yield, but there is support for enabling the feature later, Wyoming State Senator Chris Rothfuss said. Wyoming’s Select Committee on Blockchain urged the Commission issuing WYST to “resist pressure to act as a political or financial gatekeeper.” The GENIUS Act’s passage could increase crypto…
In brief The U.S. government is considering bringing charges against Dragonfly’s Tom Schmidt and other partners, Assistant U.S. Attorney Thane Rehn said Friday in federal court. Dragonfly invested in Tornado Cash developers’ Pepper Sec in 2020. Federal prosecutors seized Schmidt’s devices and raided his house in connection to their investigation into Roman Storm. U.S. prosecutors…
In brief Chapman ran a “laptop farm” from her Arizona home, hosting devices for North Korean IT workers to spoof their U.S. presence. Over 300 U.S. companies—including a major TV network and aerospace firm—were unknowingly infiltrated. Officials say the operation helped fund North Korea’s weapons program and exposed crypto firms to security risks. An Arizonan…
In brief Agama, a longtime SEC official appointed Director-General in 2024, has pushed for more proactive engagement with digital asset firms. His latest remarks follow the onboarding of stablecoin firms into the SEC’s regulatory sandbox and renewed public outreach. Analysts say rebuilding trust will depend on whether the government follows through with consistent, transparent enforcement.…
In brief House Majority Whip Tom Emmer (R-MN) believes the Senate will ultimately opt to pass the House’s market structure bill, the CLARITY Act. The Senate is currently in the midst of drafting its own market structure bill, which it plans to deliberate on in September. Emmer says the White House has communicated that it…
In brief Two men accused of kidnapping and torturing a Bitcoin trader were granted $1 million bail each, despite facing life sentences. Defense claims the alleged victim wasn’t held against his will, citing footage of him appearing relaxed and engaged in social activities. The case reflects a sharp rise in violent crypto “wrench attacks,” with…
In brief Trump’s crypto task force will release its 180-day report on July 30, Bo Hines, the group’s executive director, said Wednesday. The report is expected to outline stablecoin oversight, token classification, and enforcement reforms following the GENIUS and CLARITY Acts, Decrypt was told. Experts say it may propose building a Bitcoin reserve using seized…
In brief A revised class action accuses Pump.fun and its infrastructure partners of operating a racketeering enterprise modeled on unlicensed gambling. Plaintiffs claim the meme coin ecosystem functioned like a digital slot machine, extracting billions from retail users. The case, brought by Burwick Law, remains unproven in court and reflects the firm’s growing presence in…
In brief Trump has signed an executive order banning federal contracts with ‘Woke AI’ models. The order cites concerns about ideological bias, DEI alignment, as well as racial and gender distortions. U.S. officials are also scrutinising bias in Chinese AI systems. President Donald Trump signed an executive order on Wednesday banning U.S. government agencies from…
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…
