The recent enactment of the European Union’s Markets in Crypto-Assets (MiCA) legislation on May 31 has both excited and concerned the crypto industry. While hailed as a groundbreaking regulatory framework for cryptocurrencies, there is growing apprehension regarding one specific aspect: the introduction of a daily transaction cap on private stablecoins. This limit, set at 200
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Digital Currency Group (DCG) has responded to a lawsuit filed by Gemini, accusing the company of defrauding its creditors. In the lawsuit, Gemini claims that DCG and its CEO, Barry Silbert, orchestrated and directly perpetrated a fraud against creditors. Specifically, Gemini alleges that Silbert pushed to continue the Earn program despite being aware of Genesis’
The South Korean financial regulator has made it mandatory for its employees to declare their cryptocurrency holdings following the “Coin Gate” scandal. Lawmakers in the country have faced allegations of insider trading, with one Member of Parliament (MP) accused of selling tokens prior to the implementation of a new crypto regulation. The MP was discovered
Executives in the crypto industry remain positive about the long-term prospects of the sector, despite a decline in venture capital funding. According to data from RootData, a crypto data provider, the second quarter of last year saw the lowest amount of funds raised by crypto firms since tracking began in Q3 2021. During this period,
Crypto exchange Gemini, led by the Winklevoss twins, has recently filed a lawsuit against the conglomerate Digital Currency Group (DCG) and its CEO Barry Silbert. The lawsuit accuses Silbert of defrauding creditors, specifically Gemini, the largest creditor of DCG’s subsidiary, bankrupt crypto lending firm Genesis. According to the lawsuit, Silbert committed fraud by continuing the
Over the weekend, the Poly Network fell victim to a hacker who managed to exploit the system and make off with nearly $10 million worth of ETH. Beosin, a security firm, was the first to reveal this breach. The attack allowed the hacker to mint an astonishing $34 billion worth of cryptocurrency. Poly Network, a
Bitget, a prominent crypto derivatives exchange, has recently introduced its innovative Crypto Loans program. This new program provides users with the opportunity to stake their own coins in exchange for loans in another cryptocurrency. The primary objective of the platform is to cater to borrowers who are dissatisfied with traditional lenders, offering them a more
Coinbase, a leading cryptocurrency exchange, has announced its intention to modernize the direct deposit system by implementing blockchain-based stablecoin settlements instead of the traditional ACH deposits. Yuga Cohler, a senior software engineer at Coinbase, outlined in a blog post that the company aims to update the financial system and promote global adoption of cryptocurrencies, all
Delio, a prominent crypto lending firm based in South Korea, is currently facing scrutiny from the country’s Financial Services Commission (FSC) over allegations of fraud, embezzlement, and breach of trust. The investigation was triggered by Delio’s unilateral decision to suspend users’ deposits and withdrawals on June 14, causing concern among investors. The FSC is examining
The crypto market has seen a resurgence this year, and with it, the demand for liquid staking, particularly in the Solana ecosystem. According to The Block Research, liquid staking protocols on Solana, also known as the “Ethereum Killer,” have experienced a 91% surge in total value locked since the beginning of 2023. Protocols such as