Coinbase sues SEC after months of silence from federal regulator
Cryptocurrency exchange Coinbase (NASDAQ:COIN) filed a lawsuit against the Securities and Exchange Commission on Monday, asking that the regulator be forced to publicly share its response to a months-old petition about whether to allow the cryptocurrency industry to be regulated using existing SEC structures. “Coinbase does not treat any litigation lightly, especially when it comes to one of our regulators. Regulatory clarity is overdue for our industry,” Coinbase Chief Legal Officer Paul Grewal said in a blog post. “However, Coinbase and other cryptocurrency companies are facing potential regulatory action from the SEC, although we have not been informed of how the SEC believes the law applies to our businesses.”
Visa says it has ambitious plans for cryptocurrencies
Cuy Sheffield, head of crypto at Visa (NYSE:V), announced a new and “ambitious” crypto project developed by the company. The company is looking for senior software engineers to help drive mainstream adoption of public blockchain networks and stablecoin payments. “Particularly interested in experimenting with using Github Copilot and other AI-assisted engineering tools to write and debug smart contracts,” said Sheffield.
Bitget’s On-Ramp Service Simplifies Buying Cryptocurrencies With Bank Cards
Bitget has announced the launch of a new on-ramp service designed specifically for purchasing cryptocurrencies using Visa (NYSE:V) and Mastercard (NYSE:MA). The new service will support over 140 fiat currencies and enable their use for direct purchase of USDT, BTC and BGB via credit or debit card on the Bitget exchange platform, the press release said.
The First NFT Insider Trading Case
OpenSea’s former product manager, Nathaniel Chastain, has been charged with insider trading – marking the first criminal insider trading case involving digital assets, according to a Reuters report. Chastain was accused of using sensitive information to secretly buy NFTs – then profiting by featuring and selling them on the OpenSea homepage. Former US Securities and Exchange Commission (SEC) attorney Philip Moustakis said “If this case persists, there is precedent that insider trading theory can be applied to any asset class.”
Fractal and XRPL team up to bring KYC/AML processes to the XRPL ecosystem
Identity solutions provider for Web3 Fractal and XRPL, public and decentralized blockchain led by a global community of developers, has partnered to bring KYC/AML processes to the XRPL ecosystem, an announcement said. “Fractal provides a simplified solution for users to access multiple dapps in XRPL without the need for multiple KYC processes,” he said, adding that by implementing KYC/AML technology, users can switch between dapps without additional authentication. Off-chain registration is open to everyone, he said, thus promoting wider adoption and ensuring a secure and trusted ecosystem.
Near Protocol partners with Nansen
NEAR Balkans and blockchain data platform Nansen are teaming up to bring advanced analytics tools and data-driven insights to the NEAR ecosystem, as well as to accelerate the widespread adoption of decentralized applications (dapps). “Nansen’s analysis will be helpful in providing users with a comprehensive view of blockchain activity, including transaction flows, wallet shares and on-chain activities,” he added.
Celo joins the Chainlink program
The first mobile blockchain Celo joined Chainlink’s Scale program, giving you access to the data provider’s oracle services at relatively low cost, paying with CELO token (COIN:CELOUSD). The Scale program was created to accelerate the growth of blockchain and layer 2 ecosystems by giving them access to oracle services. Oracles allow Web3 systems to access off-chain data that can be used in smart contracts. The Celo ecosystem has more than 1000 projects. “Our community’s goal in joining the Chainlink Scale is long-term sustainability,” Xochitl Cazador, head of ecosystem growth at Celo Foundation, said in a statement.
Aptos Labs supports Ledger Nano
Aptos Labs, the team behind the layer 1 blockchain Aptos Network, said it would offer support for the Ledger Nano hardware wallet through integration with Petra, the Aptos-based wallet. “The integration will provide top-level security in managing crypto assets for users and decentralized applications (dapps) built on the Aptos network,” the announcement said. The integration will allow Petra users to manage their cryptographic transactions while keeping private keys protected offline on their hardware devices.
S&P Global and Coinbase Ventures Support Credora in Building Transparent Credit Markets
Credora, a provider of institutional credit infrastructure spanning centralized and decentralized finance (DeFi), raised $6 million in a strategic funding round that included S&P Global and Coinbase Ventures as investors. The capital will help develop the technology and strengthen the Credora’s private computing technology used to underwrite and monitor borrowers. “Credora solves the problem of information asymmetry by using private computing techniques on real-time data, ensuring that borrowers continually validate their creditworthiness while maintaining the privacy of their confidential information,” CEO Darshan Vaidya said in a statement.
Swarm adds 7 companies to regulated stock offering
Regulated blockchain platform Swarm has announced that it is adding seven more public stocks for retail and institutional investors to trade on its regulated decentralized finance (DeFi) platform: Blackrock (NYSE:BLK), Coinbase (NASDAQ:COIN), Coupang (NYSE:CPNG), Intel (NASDAQ:INTC), Microsoft (NASDAQ:MSFT), Microstrategy (NASDAQ:MSTR) and Nvidia (NASDAQ:NVDA).
Algorand Foundation among creditors opposing Hodlnaut restructuring
Algorand Foundation, Samtrade Custodian Limited and several of the biggest creditors of troubled Singaporean crypto lender Holdnaut have indicated that they want the company put into liquidation rather than a restructuring, according to a court filing published by Hodlnaut’s court managers. Lenders initially indicated a preference for liquidation in January, with the Algorand Foundation stating in a court filing that liquidation would “maximize the company’s remaining assets available for distribution”. In September, the Algorand Foundation stated that it had $35 million worth of exposure to Hodlnaut.
Peaq and EWOR Launch $166,000 Web3 Funding Program
The Peaq Foundation, a not-for-profit organization that supports the peaq Web3 network and the peaq canary krest network, has partnered with EWOR, a combination of an entrepreneurship academy and an early-stage VC company, unveiling a program focused on Web3 for founders building decentralized applications for machines, robots and vehicles. According to the press release, this 10-month program will provide prospective builders with a range of skills, mentorship and networking, while supporting them with funding opportunities of up to €150,000 ($165,270).
Keyrock and Tenity Create Accelerator Program for Web3 Startups
Digital asset marketplace creator Keyrock has partnered with global fintech incubator Tenity to launch an accelerator program for Web3 fintech and native startups. According to the press release, the program is open for applications and will conclude with a Demo Day event in December 2023, where startups will compete for investments of up to €100,000 ($110,180) from Keyrock.
ARK Investment buys Coinbase shares worth $8.6 million
Ark Invest Management has acquired more than 157,000 shares of Coinbase (NASDAQ:COIN) for $8.6 million — its second purchase order following the sale in March. The investment fund purchase comes amid a series of underperforming prices for the exchange’s shares. Data shows that COIN stocks are down 15% in the last 30 days and 23% in the previous five days. Cathie Wood investment funds are also bullish on Coinbase despite the current regulatory uncertainty. In March, the investment fund bought Coinbase shares after receiving a Wells Notice from the US Securities and Exchange Commission (SEC).
Fineqia collaborates with FTSE Russell
Fineqia AG, a subsidiary of Fineqia International Inc, a digital asset company that creates and directs investments in early-stage and growth-stage technology companies, is collaborating with global index provider FTSE Russell to expand its exchange-traded products ( ETPs ) with access to indexing and analysis features. “The use of the FTSE Russell Indices by Fineqia is expected to significantly improve the transparency and liquidity of its digital asset investment products […] The binding agreement between FTSE Russell and Fineqia was signed on April 21, 2023,” said the press release.
Google launches accelerator for blockchain companies
Google (NASDAQ:GOOGL) announced on Tuesday that it would expand its Google Cloud Startup program to blockchain companies, offering up to $6 million in partnership grants and several hundred thousand in Google Cloud credits that can be used to access the processing power from the computer. Contributors offering up to $1 million in token rewards per company include the teams behind the Aptos, Celo, Near, Solana, and Hedera Hashgraph blockchains. “Google Cloud sees the evolution of blockchain technology and decentralized networking today as analogous to the rise of open source and the Internet 10 to 15 years ago,” says James Tromans, Head of Web3 Engineering at Google Cloud. “Just as open source development was essential to the early days of the internet, blockchain is driving innovation and value creation for consumers and businesses alike.”
Opera integrates generative AI in latest browser update
Opera browser has announced the latest version of its app, Opera One, which will include new generative AI integration. According to Opera, the AI feature in the browser known as AI Prompt will provide users with “contextual prompts” for web pages or highlighted text. In a tweet, the web service provider said that the AI features will be automatically enabled for all users, and in addition, there will be quick access to other AI tools such as ChatGPT and ChatSonic in the browser sidebar.
Toonstar launches adult animated series “Space Junk” with Theta Network
Web3 story studio Toonstar has announced the premiere of its new adult animated series “Space Junk,” a workplace comedy about space garbage collectors created and written by Dominic Russo, starring Jon Heder and Tony Cavalero, with episodes available to stream starting May 19. The series will be powered by the Theta Network, the media and entertainment blockchain, and will feature a character voiced entirely by AI, the press release said.
Genesis liquidation halted by new creditor demands, says DCG
Troubled digital currency firm Genesis Capital has seen its deal cut short by creditors two months after the initial deal, raising concerns about the timing of the process. Genesis’ parent company, Digital Currency Group (DCG), took to Twitter on April 25 to issue a statement regarding Genesis’ entry into a mediation motion. The company said the Genesis deal could run into trouble due to new demands from creditors. “While the rationale is difficult to understand, given the limited involvement of Genesis’ creditors since the February court filing, our understanding is that a subset of creditors have decided to withdraw from the earlier settlement,” the DCG wrote.
Aegis Trust chooses Anthony Botticella as new chairman
Aegis Trust, the US-based qualified custodian of digital assets, announced that Anthony Botticella has been named the new President of the company, as well as its global custodians, effective immediately. According to the announcement, Botticella previously served as CEO of BitGo Trust and was the Chief Trust Officer of Prime Trust.
South Korea indicts Terra co-founder Daniel Shin
South Korean prosecutors have indicted Terraform Labs co-founder Daniel Shin and nine others on various charges – including violation of capital markets law, illegal trading and breach of trust. On April 25, Bloomberg reported that the Seoul Southern District Public Prosecutor’s Office said it has frozen assets worth 246.8 billion won (US$184.7 million) of the indictees. Previous attempts to arrest Shin in 2022 were thwarted after a South Korean court refused to grant the arrest warrant. Meanwhile, South Korea and the US are trying to extradite Do Kwon to face criminal charges for his role in Terra’s colapse.
Script Network Unveils Watch-to-Earn Blockchain Ecosystem
The Script Network (SCPT), a decentralized television network and ecosystem built on blockchain technology and Watch-to-Earn mechanisms, built on the Script blockchain, is ready to challenge the significant streaming services around the world, promising to enhance the TV experience for studios, content owners and users globally. Abiel A, co-founder of Script Network, shared his enthusiasm: “The Script Network is set to redefine the media landscape by seamlessly integrating television, film and blockchain technologies to create an unparalleled experience for creators and viewers alike.”
El Salvador Starts Courses for Bitcoin and Lightning Developers
The government of El Salvador has announced that it has started training Bitcoin (COIN:BTCUSD) and Lightning Network developers as state-backed courses are underway. In a tweet, the National Bitcoin Office (ONBTC), the government body answerable to El Salvador’s President Nayib Bukele, explained that 54 students “passed the grade” for the inaugural course. The course will start with a “preparatory phase” that “will cover economics, monetary history, theory and much more, and will last until the end of June”.