Day: May 27, 2023

FTX 2.0 coming up, Multichain FUD, Worldcoin raises six figures

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Top Stories This Week Binance suspends deposits for bridged tokens, seeks clarity from Multichain team Crypto exchange Binance suspended deposits for 10 bridged tokens following days of uncertainty surrounding the Multichain protocol. Transactions on the cross-chain protocol have been delayed over multiple bridges in the past few days, with little information from Multichain’s team about the ongoing issues. In a tweet from May 24, Multichain said that some cross-chain routes were unavailable “due to force majeure,” noting that the time for service restoration was unclear. Binance was not the only…

Why is Grand Theft Auto 6 unlikely to incorporate cryptocurrencies?

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Rumors suggesting that Grand Theft Auto 6 will incorporate cryptocurrencies surface every once in a while, fueling expectations that the highly awaited game may incorporate digital assets as rewards for players, nonfungible tokens (NFTs) as in-game goods, or even as part of the storyline’s humor. The most recent speculations in the crypto community emerged last week on Twitter, but so far, there’s no indication that Rockstar Games, publisher of the Grand Theft Auto franchise, plans to jump into Web3. Cointelegraph looked at the latest rumors and facts about the possibility…

Crypto Exchange Gemini Launches European HQ in Ireland Amid Swirling US Regulatory Uncertainty

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Crypto exchange Gemini has found a new European headquarters as regulators in the US remain hostile toward the digital asset industry. On Thursday, Cameron Winklevoss, who co-founded the exchange with his twin brother Tyler, announced his company would be setting up a regional HQ in Ireland. “Awesome meeting this morning with Leo Varadkar, the Prime Minister of Ireland. We talked about the profound promise of crypto and the importance of common sense regulation to realize that promise. We believe MiCA is that common sense regulation. We also announced that Gemini…

Ripple lawsuit could be impacted by LBRY lawsuit, experts suggest

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Prominent legal professionals specializing in crypto have responded to the recent motion filed by LBRY in its ongoing legal dispute with the US Securities and Exchange Commission (SEC), citing its possible repercussions on the XRP lawsuit.  The sharing and publishing platform LBRY filed a supplementary brief supporting its petition to limit the remedies sought by the SEC in SEC vs. LBRY. LBRY emphasized its ongoing attempts to get answers from the SEC on using LBRY Tokens…

CoinDesk Apologizes to Alex Grebnev

On 25 May 2023 we published a story headed “Alameda-Backed ‘Samcoins’ CEO Alex Grebnev Sued by Coin Telegraph Owner Gregory Fishman.” Those individuals are engaged in a lawsuit (a claim and counterclaim) in the High Court in London relating to the meaning and effect of a 2020 US$750,000 option agreement. Our account of Mr. Fishman’s claims in that lawsuit was incorrect, and we are happy to set the record straight and to confirm that the claims in the litigation do not allege the misconduct by Mr. Grebnev stated in our…

Binance kicks off transition to new platform in Japan

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After five years out of the Japanese market, crypto exchange Binance has begun the process of establishing a new and fully regulated subsidiary in the country. The move follows the acquisition of the regulated crypto exchange Sakura Exchange Bitcoin (SEBC) in November 2022.  As part of the deal, SEBC will cease its current services by May 31 and reopen as Binance Japan in the coming weeks. Users of the exchange’s global platform in the country will have to register with the new entity. The migration will be available after August…

Wallet drainer moves funds to Tornado Cash

Crypto security firm CertiK has warned that a known wallet drainer has moved funds into sanctioned crypto tumbler Tornado Cash. In a May 27 alert, CertiK stated that two externally owned addresses (EOAs), 0x546 and 0x108, deposited 20 ether (ETH) with a market value of $36,473 into Tornado Cash. Source: CertiK on Twitter Per the alert, the funds came from a wallet drainer, a malicious file that automatically moves crypto from the wallets of unsuspecting visitors to phishing sites. While CertiK claimed the address from which the funds originated was…

Gemini challenges SEC in legal battle over Earn product

Gemini has responded to the US Securities and Exchange Commission (SEC) lawsuit over its Earn Product. The exchange and its partner, now-bankrupt Genesis lender, gear up for a spectacular judicial fight. Gemini marked the SEC charges as “poorly conceived” and claimed that its novel Earn product, which gives dividends on clients’ crypto deposits, is not a security. Genesis wades into the debate to show support for Gemini. Together, they are asking the court to toss out the SEC’s frivolous lawsuit and all of its demands for disgorgement and a permanent injunction. SEC…

Cheds recounts how he leaned on crypto during his toughest times

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Technical analyst Cheds has dreamed of being a trader since his childhood. However, the journey he had to take to fulfill his dream wasn’t very straightforward.  In an episode of Cointelegraph’s Crypto Stories, Cheds shared his humble beginnings. According to the technical analyst, he always dreamed about trading stocks since he was a kid. He said: “I loved the idea of buying low and selling high. Playing the market seemed like a great way to become rich enough to buy my own island.” Despite this, life had other plans. He…