Yuga Labs is rapidly expanding in the NFT sector with strategic moves. The Moonbirds-renowned Proof, a competitor in the non-fungible token creation space, was bought out by the corporation. Yuga Labs CEO Daniel Alegre stated: “As a company committed to championing art, culture, and community on the blockchain, we’re excited
February 18, 2024 1 min read
Creditors of the defunct FTX exchange have taken legal action by suing the law firm managing the bankruptcy case in a class-action lawsuit. Creditors of FTX claimed in a court document dated February 16 that Sullivan & Cromwell, or S&C, “actively” took part in the “FTX Group’s multibillion dollar fraud,”
February 17, 2024 2 mins read
The complexity of solving the mathematical equation connected with a block, which is a measure of Bitcoin’s mining difficulty, surpassed 80 trillion on Friday. With the mining difficulty hitting 81.73 trillion, the network hash rate—which measures the total processing power allocated by miners—rose to 562.81 EH/s, a new all-time high,
February 17, 2024 1 min read
Spot Bitcoin ETF issuers are still at battle over fees, and VanEck has quietly shifted gears by slashing fees. A 5 bps drop in the sponsor fee for VanEck’s spot Bitcoin ETF is detailed in a document the company made with the U.S SEC. Sponsor fees for VanEck’s Bitcoin ETF
February 16, 2024 1 min read
The biggest Spanish telecom company, Telefónica, has joined up with Web3 oracle provider Chainlink to strengthen defenses against SIM swaps, a common way hackers break into systems. Moreover, the two companies’ strategic partnership would “enable the secure connection” of smart contracts with other GSMA Open Gateway APIs, according to Telefónica’s
February 15, 2024 2 mins read
In order to boost development of a multiplayer role-playing game broadened with digital collectibles, Overworld, a game studio that creates high-quality, cross-platform multiplayer role-playing games, concluded a $10 million seed round led by Hashed alongside The Spartan Group, Sanctor Capital, and Galaxy Interactive. Hashkey, Big Brain Holdings, and Foresight Ventures
February 14, 2024 3 mins read
The financial watchdog in the United Kingdom warned 450 businesses in the last quarter of 2023 for unlawfully marketing cryptocurrency and urged those with the authority to do business with them to fulfill their obligations. Oct. 8 marked the beginning of the promotional guidelines set forth by the Financial Conduct
February 14, 2024 1 min read
An enterprise-grade regulated platform for digital assets, Standard Custody & Trust Company, was acquired by blockchain payments provider Ripple Labs. As of yet, regulatory clearance is required before Ripple Labs can complete its acquisition of Standard Custody, a PolySign subsidiary. Requesting clearance from the relevant authorities highlights Ripple’s dedication to
February 13, 2024 1 min read
Inflation came in at 3.1% in January, according to figures released by the U.S. Bureau of Labor Statistics’ consumer price index (CPI). While this was better than market expectations of 2.9%, it was below the 3.4% inflation print from December. The report has also moved the U.S Federal Reserve’s rate
February 13, 2024 1 min read
The company’s revenue reached $210M in the Q4 of 2023, a 59% rise in comparison to the same time the previous year, Digital Currency Group (DCG) said Monday in a letter to shareholders. The parent business of Grayscale Investments attributed the increase in revenue on rising asset values, especially bitcoin.
February 12, 2024 2 mins read