The U.S. Securities and Exchange Commission extended its review of the Ark 21Shares bitcoin exchange-traded fund application, as it continues to look at applications from traditional finance heavyweights such as BlackRock (BLK) and Fidelity Investments. The SEC published an order calling for public input on the Ark 21Shares Bitcoin ETF application, a standard move that … Read more
Prime Trust, the beleaguered crypto custodian recently ordered to cease operations, looks poised to do potentially massive layoffs, according to former employees. Some have heard up to 75% of jobs could be eliminated. The sources, who requested anonymity, cited what they’ve heard from inside the company. Prime Trust didn’t immediately respond to CoinDesk’s request for … Read more
Paying fees for transactions on the Ethereum blockchain is too complicated for most people. That’s the belief of credit-card giant Visa (V). It has completed testing a new way to allow users to pay the fees, known as “gas fees,” in fiat currency with their credit card, the company wrote in a blog post on … Read more
The verbal battle between the Winklevoss twins’ Gemini crypto exchange and Digital Currency Group, the crypto conglomerate that had helped power a now-frozen Gemini lending service, continued Friday, a day after DCG sought to dismiss a fraud lawsuit. On Thursday, DCG argued that Gemini’s fraud accusations over the Gemini Earn service should be tossed out, … Read more
A judge revoked FTX founder Sam Bankman-Fried’s bond Friday, sending him to jail ahead of his trial in October. Bankman-Fried faces seven different charges tied to the collapse of FTX, including wire, commodities and securities fraud. NEW YORK — FTX founder Sam Bankman-Fried was sent to jail ahead of his October trial on multiple financial … Read more
U.S. Senator Cynthia Lummis (R-Wy.), a number of crypto lobbying organizations and a group of professors called on a federal court to dismiss a Securities and Exchange Commission (SEC) lawsuit against crypto exchange Coinbase Friday. Filing amicus – or friend of the court – briefs, the organizations and lawmaker alleged the SEC was trying to … Read more
Investors are again pouring money into meme-focused cryptocurrency Shiba Inu (SHIB) in a sign of caution for bitcoin (BTC) traders. Open interest in Binance’s SHIB futures has more than doubled to $101.65 million this month, hitting the highest since Feb. 5, according to data source Coinglass. SHIB futures are sized at 1,000 SHIB per contract … Read more
[ad_1] Web3 Base Is Here, But Some of Its Projects Raise Red Flags This week, Coinbase launched its new Base blockchain while DeGods NFTs are way up after the project announced its upcoming Season III series. Plus, Microsoft and Aptos are teaming up to launch new blockchain AI tools. By Rosie Perper Aug 12, 2023 … Read more
Mediation between bankrupt cryptocurrency lender Genesis Global Holdco and creditors is set to conclude by August 16, but a deal is yet not certain. Speaking during a hearing before US Bankruptcy Judge Sean Lane, company lawyer Sean O’Neal said the mediation period would not be extended if the company does not make significant progress towards a deal within the next … Read more
We are aware there has been an increase in nonrenewals and understand that residential insurance is getting harder to find in any area that insurers identify as having a higher than average risk of wildfire. While the Department of Insurance doesn’t have the legal authority to tell insurers what level of risk they must write … Read more