Day: June 1, 2023

Elizabeth Warren demands end to crypto fentanyl financing

During a Senate hearing on May 31, Elizabeth Warren highlighted the extensive utilization of cryptocurrency in the Chinese fentanyl trade. Senator Warren, a prominent figure in the Senate Banking Committee, referenced data from research firm Elliptic, which uncovered over 90 Chinese businesses involved in shipping fentanyl precursors, with the majority of them accepting cryptocurrency as payment. A primary cause of death in the United States The rising toll of fentanyl-related overdoses in the United States, now the primary cause of death among individuals aged 18-45, has prompted concerns with the…

Investment bank TD Cowen shuts crypto unit a year after opening

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Just over a year after launching its crypto unit, American independent investment bank TD Cowen has announced the shutdown of Cowen Digital, though it has not provided a clear reason why. The multinational bank launched Cowen Digital in March 2022 to provide institutional clients exposure to the crypto market via 16 crypto assets including Bitcoin (BTC) and Ether (ETH). At the time, the firm also teased that it would launch additional services revolving around futures, derivatives and decentralized finance. While it had also made executive hires for its European operations…

Stop shoving crypto ‘down people’s throats’ — Pudgy Penguins CEO on NFTs

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The CEO of Pudgy Penguins — a nonfungible token project that recently launched a line of “phygitals” on Amazon despite the bear market — has offered one piece of sage advice to budding projects: Stop talking about crypto. Speaking with Cointelegraph, 24-year-old entrepreneur Luca Netz said that many NFT projects overwhelm people with Web3 jargon and information, making it almost unapproachable for newcomers: “If you look at the other NFTs in the space, can everyone really get it? […] I think they’re trying to drown crypto and Web3 down people’s…