The management changes come as Polygon, which runs two of the most closely watched networks for scaling Ethereum transactions, is in the midst of a rebrand to the next chapter of its corporate development, known as “Polygon 2.0.” Source
United States-based cryptocurrency exchange Gemini has announced legal action against the conglomerate Digital Currency Group (DCG) and its CEO Barry Silbert, claiming “fraud against creditors”. In a July 7 filing in a New York court, Gemini alleged DCG and Silbert engaged in a scheme involving lending “huge amounts of cryptocurrency and U.S. dollars” to Genesis. According to the filing, Gemini seeks to recover funds incurred as a result of “DCG’s and Silbert’s false, misleading, and incomplete representations and omissions to Gemini, and Defendants’ role in encouraging and facilitating Genesis’s fraud…
The lawsuit is intended to recover Gemini’s funds from DCG, a filing made to the New York County Supreme Court said. Gemini entered into a partnership with Genesis which allowed its customers to earn up to 7.4% in annual percentage yield. Gemini sent its customers’ funds to Genesis, which in turn loaned them out to companies like the now-defunct Three Arrows Capital. Like Genesis, CoinDesk is a subsidiary of DCG. Source
Bitcoin (BTC) will be the currency of artificial intelligence (AI) and could reach a price per coin of $760,000 in the process, Arthur Hayes says. In his latest essay titled “Massa,” the former BitMEX CEO concluded that the AI revolution would naturally gravitate toward BTC. Hayes: Bitcoin is “logical currency choice for AI” Despite fiat currency regimes being destined to become evermore dysfunctional in future, Hayes says, there is one burgeoning economic sector which will only go from strength to strength: AI. While still nascent in 2023, the coming decades…
The legal team representing the billionaire entrepreneur George Bachiashvili has issued a statement denying the criminal charges filed by the Prosecutor’s Office of Georgia, alleging that the businessman misappropriated Bitcoin (BTC) worth $39 million. On July 6, the prosecutor’s office charged Bachiashvili with the misappropriation of crypto and money laundering. In 2015, the office said that Bachiashvili engaged in Bitcoin mining with an investor who expected the profit to be divided in proportion to the invested funds. The government body alleged that Bachiashvili generated a profit of 8,253.13 BTC in…
According to Douglas Park, a lawyer, the BarnBridge protocol should stop all operations due to an ongoing investigation by the US Securities and Exchange Commission (SEC). BarnBridge is a platform that builds infrastructure and protocols around a fiat stablecoin. BOND is the native governance token allowing holders to vote on proposals. Douglas Park, who was recently voted as BarnBridge DAO’s legal counsel, revealed via Discord that the DAO and individuals associated with the DAO are reportedly under investigation. Without giving further information about what the regulator is investigating, Park advised the cessation…
From thumbs-ups from friendly strangers to midnight police searches, a Bitcoin-themed van continues a whirlwind tour around Europe. Ariel Aguilar has been behind the wheel of Bitcoin (BTC) promotion efforts, driving across Europe in a BTC-themed van called La Bitcoineta. Speaking to Cointelegraph journalist Joe Hall at Plan B Summer School, the Argentinian Bitcoin proponent recalled highs and lows of the journey across nearly a dozen European nations. “Bitcoin is work. Bitcoin is time. Bitcoin is hope.” La Bitcoineta parked at the Plan B Summer School in Lugano in 2023.…
Google Cloud is the latest company to show interest in Bitcoin (BTC) Lightning. The $225-billion cloud and data service recently partnered with Voltage, an infrastructure provider specializing in the Bitcoin Lightning Network. The partnership will allow one of the world’s largest cloud computing providers to roll out Bitcoin-based services worldwide while assisting the expansion of Voltage’s operations. Graham Krizek, CEO of Voltage, told Cointelegraph: “Voltage is leveraging Google Cloud to go to service our customers more globally. So, we have larger customers that need nodes deployed in specific geographic regions…
In mid-April 2023, a frog memecoin called Pepe dominated discussions in crypto circles after going up parabolically in the span of a few hours, going up by as much as 21,000%. Pepe follows a long list of memecoins led by Doge and Shiba Inu that made millions for some and lost even more money for others. In early April 2023, Elon Musk temporarily made the Dogecoin logo the face of Twitter. Again, the value shot up, then went back down again after. Critics point to the memecoins as the worst…
In a July 6 blog post, Shytoshi Kusama, the lead developer of Shiba Inu, said that the team will have discussions and possibly release the highly anticipated layer 2, Shibarium, during the Blockchain Futurist Conference, ETHToronto and ETHWomen hackathons, scheduled during August 2023 in Canada. The developer highlighted that this event is significant because it aligns with Shiba Inu’s third anniversary and takes place in the birthplace of Ethereum. In the announcement, Kusama stated that the Shiba Inu ecosystem would serve as the title sponsor for the upcoming Blockchain Futurist…