NEW YORK – To federal prosecutors, Avi Eisenberg’s $110 million crypto trade on Mango Markets put a digital twist on an old scam. But to the DeFi trader’s defense team, it was a legitimate windfall from the risky world of crypto, where finance’s old rules don’t apply. Source
Crypto skeptic Sen. Sherrod Brown (D-Ohio), whose Democratic Party currently controls the Senate, is the chairman of the Banking Committee and has been reluctant to allow digital assets regulatory bills to move through the panel, despite some progress in the House of Representatives. In Ohio’s general election, he faces Republican challenger Bernie Moreno, an Ohio businessman and crypto enthusiast who founded a blockchain startup, and Lummis – a member of Brown’s committee – predicted on Tuesday that digital assets could be front and center in this matchup. Source
But that’s not the only way Lazzarin thinks a16z’s research initiatives can help advance the firm’s bottom line. The code for Jolt has been open-sourced, meaning anyone can theoretically use or repurpose it without paying a16z. “Because we’re long-term investors, we don’t trade day-to-day, week-to-week, or even month-to-month,” said Lazzarin. “We benefit most if the space advances fastest over the next five to 10 years, and so our incentive is purely to advance everyone through public goods that we will never monetize.” Source
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“Zeta’s vision from day one has been to make decentralized finance a viable alternative to centralized, black-box financial systems. With a platform that has already stood the test of time and facilitated billions in volume for tens of thousands of traders, we’re excited to launch Z, the governance token of Zeta, to closely align the long-term interests of users with the protocol,” Tristan Frizza, Founder of Zeta Markets said. Source
McHenry has been negotiating stablecoin legislation with members of his party and House Democrats for months, and when a bill cleared his committee, it did so with the support of several Democrats. But there has been some resistance from the administration and from the panel’s top Democrat, Rep. Maxine Waters (D-Calif.), about the role of the federal government in overseeing stablecoin issuers. Source
The media startup will offer a “third bucket” of information to crypto startups’ stakeholders. Source
Countries have varying definitions and categorizations for stablecoins that may pose a risk to financial stability, the report by the Financial Stability Institute said. Source
Singapore-based crypto platform Crypto.com has received full operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA) for its local entity, CRO DAX Middle East FZE. Source
Fantom’s Cronje is the latest in a line of blockchain teams that are open to directly engaging with memecoins. Source