Category: crypto

Aiccelerate is a new DAO formed by members of Coinbase, Google, ai16z, and other major players to accelerate the convergence of crypto and AI. It aims to support decentralized, open-source AI development and high-potential projects. AICC token will be used for funding, and advisors include experts from various fields.

Thai authorities seized nearly 1,000 Bitcoin mining rigs in Chon Buri province for illegally using electricity. The raid exposed a company evading electricity charges by tampering with power meters, causing significant losses for local providers. This highlights concerns about the misuse of public utilities for crypto mining and the heavy energy consumption of Bitcoin mining.…

Phala Network, a Polkadot parachain, has launched a layer-2 rollup protocol on Ethereum in partnership with Succinct Labs and Conduit. This technology integrates optimistic and zero-knowledge proofs for increased scalability and efficiency. The move reflects the growing interest in layer-2 solutions on Ethereum, despite concerns about fragmented liquidity pools.

Standard Chartered has obtained a license to provide crypto custody services in Luxembourg under the MiCA framework. This will allow the bank to operate across the EU and strengthen its regional presence. The bank’s Global Head of Financing and Securities Services highlighted the importance of offering cutting-edge financial solutions with strict security measures. Laurent Marochini…

Circle has donated $1 million in its USDC stablecoin to President-elect Donald Trump’s inaugural committee. This marks Circle’s first significant political contribution in the US. Other major players in the crypto space, including Ripple, Kraken, and Coinbase, have also pledged support for Trump due to his pro-crypto stance and promises of regulatory reforms. Trump has…

Fintech company Block, led by Twitter co-founder Jack Dorsey, may become the first publicly listed company with Bitcoin in its treasury to join the S&P 500 Index. Meeting the six primary criteria for inclusion, including market cap and earnings, the decision ultimately rests with the S&P Index Committee. MicroStrategy recently joined the Nasdaq 100 Index…

Bankrupt FTX exchange disputes sale of European subsidiary FTX EU to Backpack, founded by former FTX employees. FTX clarifies that the sale has not occurred as disclosed, and the bankruptcy court did not approve Backpack’s acquisition. FTX distances itself from Backpack’s asset recovery process, stating it will handle customer claims independently.

Crypto stakeholders criticize outgoing SEC Chair Gary Gensler for his hostility towards the industry. Gensler defends SEC legacy, citing significant strides in policing the sector with nearly 100 enforcement actions. He characterizes the crypto industry as speculative and lacking fundamentals. Industry backlash includes accusations of alienating voters and claims that the SEC itself is “rife…

Polymarket faces scrutiny for allowing bets on wildfires, drawing criticism for profiting from human suffering. The CFTC has subpoenaed user data, sparking concerns about regulatory actions. Despite backlash, some wildfire markets have seen significant trading volume. Polymarket settled with the CFTC in 2022 and faces increased scrutiny after the 2024 US elections.

The U.S. government has been granted permission to sell 69,370 BTC seized from the Silk Road marketplace, worth $6.5 billion, despite an upcoming administration change. Battle Born Investments lost a bid to delay the liquidation, with concerns about market volatility. The timing of the sale raises questions about government handling of digital assets.