XRP Ruling Needs Appeals Court Review, SEC Says

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The U.S. Securities and Exchange Commission (SEC) asked for permission on Friday to appeal a federal judge’s ruling that XRP sales through exchanges didn’t violate securities law, a day after the judge said the SEC could present its argument. The SEC petitioned Judge Analisa Torres, of the U.S. District Court for the Southern District of … Read more

Bitcoin Plunged 11% in Worst Week Since FTX’s Collapse. What’s Next for BTC’s Price?

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BTC’s fall below $26,000 is poised to be the worst weekly decline since the collapse of FTX. Absence of a decision in the closely followed Grayscale vs. SEC lawsuit didn’t support the recovery. Market observers are divided on whether the correction is over. Bitcoin (BTC) is poised to endure its worst weekly decline since the … Read more

Coinbase Will Suspend USDT, DAI and RAI Trading for Canadian Users

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Crypto exchange Coinbase (COIN) will suspend trading with USDT, DAI and RAI stablecoins for Canadian users starting at the end of this month, the company said in an email. “We regularly monitor the assets on our exchange to ensure they meet our listing standards,” the note sent to users reads. “Based on our most recent … Read more

Coinbase-Backed Group Loses Lawsuit Arguing Tornado Cash Sanctions Overstepped U.S. Treasury’s Authority

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A group of crypto investors and developers lost a lawsuit funded by Coinbase that sought to argue the U.S. Treasury Department overstepped its authority in sanctioning Tornado Cash, a mixing service designed to make crypto transactions anonymous. Tornado Cash is an actual entity in itself, which has a property interest in its smart contracts, wrote … Read more

The Protocol: Blockchains Keep Launching, From Sei to Shibarium

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Past eras of crypto development were marked by a rapid proliferation in protocols for decentralized finance (DeFi) or other purposes, built atop big blockchains like Ethereum. Recently, however, there’s been a mini-explosion in new blockchains, including so-called layer-2 networks built atop Ethereum. The trend is encapsulated in this week’s launch of the Sei network – … Read more

FTX-Linked Farmington State Bank Slapped with Fed Enforcement Action

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The Federal Reserve Board has ordered FTX-linked Farmington State Bank to wind down its operations after the tiny bank secretly engaged in digital assets-related activities, according to a Thursday enforcement action. Farmington, which operates under its Moonstone Bank name, “improperly” pivoted to a pro-digital assets business plan in 2022 without notifying, and obtaining approval from, … Read more

Blockchain-Harnessing AI Project Jada Receives $25M in Capital

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Jada AI offers AI services that aid decision-making and scale the operations of organizations. The project operates in a blockchain-based environment where the AI computations are executed among the nodes participating in the network. Jada AI, an artificial intelligence project that harnesses blockchain technology, has raised $25 million from alternative investment group LDA Capital. The … Read more

Ex-Meta Engineer’s Layer-1 Blockchain Linera Raises $6M in New Funding

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Linera, a layer-1 blockchain attempting to tackle scalability issues using ‘microchains,’ said it closed a new $6 million funding round led by venture capital fund Borderless Capital. The firm – founded by a former Meta Novi (Meta’s digital wallet, which will terminate in September) engineer Mathieu Baudet – has now raised a total of $12 … Read more