Day: July 13, 2023

US crypto exchanges give XRP listings a second chance after court ruling

Following a victory in federal court against the United States Securities and Exchange Commission (SEC), Ripple Labs may see the XRP token returning to cryptocurrency exchanges. In a July 13 tweet, crypto exchange Gemini said it planned to explore listing XRP for spot and derivatives trading after a court ruled the token was not a security under the SEC’s purview, while Coinbase and Kraken said they will re-enable XRP trading for the first time in roughly two years. The SEC has taken enforcement actions against exchanges including Binance and Coinbase for alleged…

Venture Capital Firm Shima Capital Didn’t Slow Strategy for Crypto Winter

“Infrastructure deals typically hold up well in crypto winter because they usually take longer to build the projects and also require much more talent, which is cheaper now,” said Gao. “On the other end of the barbell, we see that consumer apps, specifically gaming, continue to make up a large portion of our portfolio,” he continued. “People play more games in bear markets and, more importantly, tokenomics and digital assets fit nicely into a well-designed game.” Source

FTC takes aim at OpenAI’s ChatGPT with lengthy criminal investigation questionnaire

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OpenAI, maker of AI chatbot ChatGPT and related products, has received a criminal investigative demand (CID) from the United States Federal Trade Commission (FTC), the Washington Post reported on July 13. The CID is reproduced on the newspaper’s website without a date. A CID is similar to a subpoena, and recipients are legally obliged to produce the information they request. The FTC is investigating whether OpenAI used “unfair or deceptive privacy or data security practices” or “unfair or deceptive practices relating to risks of harm to consumer, including reputational harm.”…

Ripple’s XRP Triumphs in Court: A New Dawn for the Crypto Market

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In a landmark ruling, a US judge has declared that Ripple’s XRP is not a security, ending a long-standing legal battle with the Securities and Exchange Commission (SEC). This decision has sent shockwaves through the cryptocurrency market, with XRP’s price soaring by over 78% in the last 24 hours to $0.834618. The market cap of XRP has also seen a significant increase, currently standing at $41,911,941,616.   The Ripple Effect The ruling has provided much-needed legal clarity for Ripple and XRP, which had been under scrutiny by the SEC for…

Nexo in Court With a Co-Founder Over $12M in Missing Assets

According to the court judgment by the London’s High Court on June 27, Nexo and its co-founder Georgi Shulev are disputing the whereabouts of a Ledger hardware wallet containing some of the company’s crypto holdings. Shulev, who is a son of Bulgaria’s former deputy prime minister Lydia Shuleva, founded the company in 2019 together with Antoni Trenchev, who used to be a member of Bulgaria’s parliament, and other co-founders, Kosta Kantchev and Kalin Metodiev. Shulev left the company, which provides crypto trading, lending and custody services, in 2019. The legal…

US Authorities Charge Cybersecurity Engineer With Stealing $9,000,000 From Decentralized Crypto Exchange

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The United States Attorney for the Southern District of New York, Damian Williams, just announced the indictment of a former cybersecurity professional who allegedly hacked an international decentralized crypto exchange (DEX) and stole $9 million worth of crypto assets. According to the indictment, Shakeeb Ahmed carried out the attack sometime in July 2022 when he exploited a vulnerability of the Solana (SOL)-based DEX. The 34-year-old, a senior security engineer at an international technology company at the time of the attack, allegedly inserted fake pricing data that caused the platform’s smart…

Alex Mashinsky Built Celsius Into a House of Cards

That they lost money on their outlays (over $1.7 billion in total), that they stupidly found themselves in a position of having to buy CEL on the open market to pay user rewards, that they speculated in decentralized finance (DeFi) expecting to win is almost besides the point. These were incompetent, inveterate gamblers, the complaints show. Worse, they ushered unknowing customers into a sand trap, leaving the ability to deposit funds on Celsius open after withdrawals were shut down and after taking their own money off the platform, the court…