Category: crypto

Coinbase product executive Cobie acknowledged that the company has lost touch with crypto-native users due to mistakes that damaged trust in the Base ecosystem. He took over leadership of the Base App to refocus on trading and onchain activity. The management change follows setbacks in Base’s product strategy and network operations.

FTX will distribute nearly $900 million to eligible creditors on July 31, bringing total payouts to about $10 billion since the company collapsed. Bankman-Fried faces political resistance to clemency after losing his appeal against a fraud conviction. The payment will cover various creditor classes and will be distributed through approved providers.

Strategy Chairman Michael Saylor opposes Bitcoin Improvement Proposal 110, warning that it could compromise Bitcoin’s neutrality by restricting transactions through new consensus-level protocol rules. He argues that the network should not use consensus changes to decide which valid transactions deserve access to block space and calls for a more cautious approach to change.

BNB Chain now hosts $1.5 billion of assets from Franklin Templeton’s Benji tokenization platform, representing 61.71% of the platform’s distributed asset value. This marks a significant increase in BNB Chain’s holdings over the past month, surpassing Stellar as the largest network. Franklin Templeton continues to expand its tokenized finance offerings across various blockchain platforms.

US financial regulators missed the deadline to complete key rules for the federal stablecoin framework under the GENIUS Act. Stablecoin issuers face a shorter preparation window before the framework goes into effect in January. Major regulations, including customer identification and anti-money laundering proposals, remain unfinished. Several agencies are still working on rules for stablecoin issuers,…

Leonidas, a Bitcoin Ordinals advocate, has introduced DOG Mode, an open-source Bitcoin client that changes how nodes relay certain transactions without altering Bitcoin’s consensus rules. DOG Mode removes relay limits, allowing fee-paying users to access block space. It contrasts with BIP 110, which proposes temporary consensus restrictions on transaction data.

France’s National Gambling Authority has ordered internet service providers to block Polymarket due to concerns about illegal gambling services and the platform’s promotion of unauthorized gambling in the country. The regulator cited issues with user checks, market integrity, and manipulation of settlement prices. Other European countries are also taking action against prediction market platforms.

Robinhood CEO Vlad Tenev defends trading against claims of being gambling as the brokerage expands into the U.S. financial market. The company is involved in the Trump Accounts program, aiming to introduce children to investing. Tenev rejects the notion that all trading is gambling and emphasizes the importance of speculation in financial markets. Robinhood is…

Consensys paused product releases after a North Korea-linked consultant accessed its systems for a month. An internal investigation found no stolen assets, exposed data, or harm to users. The firm will review contractor screening. North Korean operatives increasingly target crypto firms. The incident highlights the risk of developer access to sensitive infrastructure.

OKX Europe now allows users to deposit USDT and convert it into MiCA-compliant USDC. Tether has not secured MiCA approval, leading to restrictions on USDT support in Europe. OKX’s new tool provides a conversion option for affected users, as Binance withdraws from the region due to MiCA issues.