Everything web3, crypto, defi, degen
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…
We’re excited to announce the next major step in the growth of xStocks — the industry’s gold standard for tokenized equities. In partnership with Backed, Kraken is collaborating with Trust Wallet to integrate xStocks directly into one of the most widely used self-custody crypto wallets, bringing interoperable tokenized equities to over 200 million users across…
In brief Michigan’s House Bill 4087 advanced on Thursday, moving to the Government Operations Committee. The bill would allow up to 10% of state funds in cryptocurrency with strict security requirements. Michigan’s attempt is part of the inevitable state-level adoption pressuring neighboring states, Decrypt was told. Michigan’s stalled bid to create a state-run Bitcoin reserve…
In brief Sports holding company Brera Holdings is becoming a Solana treasury, the Nasdaq-listed firm announced Thursday. The company’s stock rocketed 500% on the news after receiving big backing to buy the cryptocurrency. It is the latest in a crowded market of altcoin treasuries—but it promises it will be different. The race to build the…
In brief The SEC said that Grayscale’s Digital Large Cap Fund conversion into an ETF is approved for listing and trading. The fund tracks the price of Bitcoin, Ethereum, Solana, XRP, and Cardano. Other ETFs tracking XRP and Dogecoin began trading on Thursday. An exchange-traded fund from crypto asset manager Grayscale that tracks the price…
Trade popular U.S. stocks and ETFs 24/5 – self-custodial, and on your terms. We’re thrilled to announce that tokenized U.S. equities – powered by Backed’s groundbreaking xStocks innovation – are now live on Kraken Pro. For the first time, eligible non-U.S. clients can get instant, flexible exposure to some of America’s most iconic stocks and…
In brief Prosecutors said Palafox raised $201M by promising daily returns of up to 3%. At least $62.7M in losses were recorded, with funds spent on luxury goods and property. The real issue is fraudulent behavior, not the underlying technology, one observer said. The chief executive of Praetorian Group International, Ramil Ventura Palafox, pleaded guilty…
In brief Bitcoin ETPs saw a net inflow of 20,685 BTC last week, driven mostly by U.S. ETFs. The recent uptick in investor risk appetite is driven by rate cut expectations and new crypto IPOs. Despite institutional demand outpacing new Bitcoin supply, realized and implied volatility remain historically low. Bitcoin exchange-traded products globally logged net…
In brief The amended complaint claims TaskUs’s India operations were at the center of a coordinated bribery scheme to steal customer information. Plaintiffs allege the company concealed the breach, firing investigators and failing to disclose details in securities filings before a $1.6 billion Blackstone buyout. Coinbase reimbursed affected users, tightened controls, and ended its relationship…
Three people involved in a bogus crypto exchange that defrauded 50,000 victims out of more than $1.4 billion will avoid jail time.The unnamed accomplices were sentenced for their roles in running V Global in South Korea, and ordered to pay substantial fines.A 60-year-old woman known only as “Ms. A” was fined about $436,000, while 63-year-old…
