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The New York State Attorney General’s (NAYG) recent legal action against Galaxy Digital over its promotional ties to the now-collapsed cryptocurrency Terra (LUNA) was unfair and an abuse of the legal system, says SkyBridge Capital and founder Anthony Scaramucci. “It’s LAWFARE, pure and simple due to an obscure but dangerously powerful New York law known …
Continue reading “NAYG lawsuit against Galaxy was ‘lawfare, pure and simple' — Scaramucci”
Ether’s (ETH) declining appeal as an investment comes from layer-2’s draining value from the main network and a lack of community pushback on excessive token creation, a crypto venture capitalist says. “The #1 cause of this is greedy Eth L2s siphoning value from the L1 and the social consensus that excess token creation was A-OK,” …
Continue reading “Greedy L2s are the reason ETH is a 'completely dead' investment: VC”
Billionaire investor Elon Musk has sold his social media platform X to his AI startup xAI, sparking controversy as it coincides with a US judge rejecting his bid to dismiss a lawsuit tied to the social media platform. The transfer of ownership of X to xAI on March 28 means that the class-action lawsuit against …
Continue reading “Elon Musk’s sale of X to xAI just made fraud lawsuit a ‘lot spicer’”
Binance co-founder Changpeng “CZ” Zhao is donating 500 BNB (BNB) each to Thailand and Myanmar following a 7.7 magnitude earthquake that caused severe damage to buildings and widespread flooding. Zhao plans to distribute the funds through Binance and Binance Thailand if a third-party onchain donation platform cannot be found to distribute the disaster relief funds. …
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Five Democratic lawmakers in the US Senate have called on leadership at regulatory agencies to consider the potential conflicts of interest from a stablecoin launched by World Liberty Financial (WLFI), the crypto firm backed by US President Donald Trump’s family. In a March 28 letter from the US Senate Banking Committee, Massachusetts Senator Elizabeth Warren …
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Bitcoin price extended its decline on March 28, falling for a fourth consecutive day to paint an intra-day low of $83,387. BTC’s (BTC) decline mirrored the Wall Street sell-off, where the DOW closed 700 points lower, alongside the S&P 500 index, which dropped 112 points. The sell-off in equities is widely attributed to investors increasing …
The four-year crypto market cycle that traders and investors have become accustomed to is no longer as pronounced due to the maturation of crypto as an asset class and the participation of institutional investors, according to Polygon co-founder Sandeep Nailwal. During a recent episode of Cointelegraph’s Chain Reaction, Nailwal said that Overall speculative activity is …
Continue reading “Crypto market cycle permanently shifted — Polygon founder”
The Federal Deposit Insurance Corporation (FDIC) said in a March 28 letter that institutions under its oversight, including banks, can now engage in crypto-related activities without prior approval. The announcement comes as the Commodity Futures Trading Commission (CFTC) announced that digital asset derivatives wouldn’t be treated differently than any other derivatives. The FDIC letter rescinds …
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It has been a wild few years for GameStop, the video game retailer turned memecoin stock. After being pulled from the edge of bankruptcy in 2021 thanks to a surging stock price, the company has made sensible business decisions over the years, such as shrinking its physical footprint and focusing on higher-margin items. Now, GameStop …
Continue reading “Crypto Biz: GameStop takes the orange pill”
US President Donald Trump has reportedly issued pardons to three of the co-founders of the cryptocurrency exchange BitMEX, who had pleaded guilty to felony charges. According to a March 28 CNBC report, Trump granted pardons to Arthur Hayes, Benjamin Delo and Samuel Reed, who were facing a range of criminal charges related to money laundering …
Continue reading “Donald Trump pardons three BitMEX co-founders — Report”
