Everything web3, crypto, defi, degen
In brief First Lady Melania Trump and Argentine President Javier Milei aren’t to blame for the “scam tokens” they promoted, investors claim in a legal filing. Rather, the plaintiffs claim that Meteora founder Benjamin Chow was the “center of the enterprise,” with Hayden Davis and Kelsier Ventures working under his instructions. The class action lawsuit…
Throughout the quarter, Kraken accelerated that momentum – introducing new product categories, enhancing client experiences and expanding platform-wide capabilities to strengthen our full product suite. Our results demonstrate the scalability of our multi-product platform and the resilience of our model in a fast-changing market. By pairing innovation with discipline, we continue to lay the foundation…
In brief DraftKings acquired prediction market company Railbird to launch its DraftKings Predictions app. The deal comes as prediction market volume surpassed $2 billion weekly for the first time. A source familiar with the company told Decrypt the app will initially focus on states without legal sports betting. DraftKings has acquired prediction market company Railbird…
In brief In April, Armbrust pled guilty to computer fraud after using his ex-employer’s AWS account to mine Ethereum. Armbrust was sentenced to three years of probation and ordered to repay the full amount, court records show. The mining operation cost his former employer over $45,000 in cloud fees while netting him about $5,800 in…
In brief NewsGuard found Sora 2 created fake news videos 80% of the time during 20 misinformation tests. The clips included false election footage, corporate hoaxes, and immigration-related disinformation. The report arrived amid OpenAI’s controversy over AI deepfakes of Martin Luther King Jr. and other public figures. OpenAI’s Sora 2 produced realistic videos spreading false…
In brief Coinbase says U.S. AML laws are “broken” and wants Treasury to adopt AI, APIs, and zero-knowledge proofs to modernize compliance. The exchange proposes safe harbors for AI use and recognition of decentralized IDs to reduce costly, privacy-risky KYC duplication. Coin Center warns traditional AML on stablecoins could create a “CBDC-style panopticon” as Treasury…
In brief Evernorth is a new publicly traded digital asset treasury focused on accumulating the Ripple-linked asset, XRP. The firm’s treasury will be built with more than $1 billion in net proceeds, with contributions from Ripple and notable crypto firms. Ripple executives, including CEO Brad Garlinghouse, will act as strategic advisors to the firm. Ripple…
In brief Authors E. Molly Tanzer and Jennifer Gilmore have sued Salesforce, alleging it “pirated hundreds of thousands of copyrighted books” to develop its XGen AI models. The lawsuit claims Salesforce initially disclosed using the “RedPajama-Books” dataset in June 2023, then deleted references two months later, rebranding training data as simply “publicly available.” Salesforce CEO…
In brief Philippine Senate Bill 1330, filed by Senator Paolo Benigno “Bam” Aquino IV, seeks to mandate blockchain-based tracking of government spending under an $8.6 million initial appropriation. The push follows public scrutiny over $9.2 billion in infrastructure projects flagged for irregularities. Lawyers told Decrypt the bill risks concentrating control, limiting data contestability, and turning…
In brief The Financial Stability Board’s review of nearly 40 jurisdictions found “significant gaps and inconsistencies” in crypto regulations that threaten financial stability. A separate European Banking Authority report revealed crypto firms engaging in regulatory “forum shopping” across EU member states. Cross-border cooperation remains “fragmented, inconsistent, and insufficient,” with authorities struggling to share information due…
