To fund the expected battle, Grey last week proposed the community reserve $4 million of the protocol’s treasury funds for a “Sushi DAO Legal Defense Fund.” The fund, which is almost as much as the DAO’s annual operating expenses, received swift backlash on the community’s Discord channels, becoming a sticking point on Thursday’s call. Source CEOCrackdownCryptoFeelsInspiredLongerRegulatorsSushiSwapU.S CryptoX Portal
Tag: Crypto
Sushi Swap CEO Says He No Longer Feels 'Inspired' Amid U.S. Regulators’ Crypto Crackdown
Sushi Swap Head Chef Jared Grey fielded questions from his community about an SEC subpoena he received during a Thursday call. Source
SEC Needs New Tools, Expertise, and Resources to Regulate Crypto Industry – Regulation Bitcoin News
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said in a congressional hearing that the securities regulator “requires new tools, expertise, and resources” to combat misconduct in the crypto space. “We’ve seen the Wild West of the crypto markets, rife with noncompliance, where investors have put hard-earned assets at risk in a highly speculative asset class,” he stressed. SEC Chair Gary Gensler on Budget Request and Crypto Regulation The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, testified on his agency’s Fiscal Year (FY) 2024 budget…
Most Crypto Sent From Wallets Sponsoring Russia in Ukraine War Reaches CEXs, Binance, Research Shows – Exchanges Bitcoin News
Millions of U.S. dollars’ worth of cryptocurrency has been sent to centralized exchanges (CEXs), most notably Binance, from wallets providing funds in support of Russia’s war effort in Ukraine, transaction data suggests. According to Ukrainian analysts, the money was transferred to the crypto trading platforms in order to be laundered. Over 90% of Pro-Russian Crypto Transfers Identified in a Study Sent to Largest Exchange More than $40 million was sent last year from wallets that were used to sponsor the Russian invasion of Ukraine to cryptocurrency exchanges, according to an…
UK government announces ‘robust’ crypto regulation as part of economic crime plan
The government of the United Kingdom has laid out plans to step up regulation of crypto assets in its efforts to respond to economic crime in the country. In a policy paper released on March 30, the U.K. Treasury and Home Office said it planned to “robustly” regulate crypto to fight illicit use of digital assets. The focus on regulation was part of the government’s economic crime plan from 2023 to 2026, which also included pooling “the knowledge and abilities of law enforcement agencies” to review and strengthen how crypto…
Boerse Stuttgart Digital subsidiary receives final approval for crypto custody
Boerse Stuttgart Digital, the digital asset brand of the Boerse Stuttgart exchange group, announced March 30 that its blocknox service has received final licensing from the German Federal Financial Supervisory Authority (BaFin) to operate as a crypto custodian. Boerse Stuttgart Group now offers fully regulated brokerage, trading, and custody of digital assets, it said. Its final licensing makes Boerse Stuttgart Digital the first “established market participant […] Licensed to hold cryptocurrencies in custody without any acquisitions,” Boerse Stuttgart Group CEO Matthias Voelkel said. Boerse Stuttgart Digital said European banks, brokers,…
3 Strategies Crypto Firms Can Use to Land a New Banking Partner
After the recent collapse of three crypto-friendly banks, many firms are left hunting for new banking partnerships. Brett Philbin, Rachel Millard and Rosie Gillam of Edelman Smithfield offer advice. Source
Solana-Based Crypto Exchange Raydium Proposes $2M Bug Bounty Fund
At press time Raydium’s liquidity pools held over $37 million in total value locked (TVL), roughly three quarters of the TVL held by Orca, Solana’s top decentralized exchange, according to DeFiLlama. Its native token RAY was worth 23 cents Thursday, per CoinGecko; it has slid two percent in the past 24 hours. Source
Crypto wallet Ledger raises $109M as demand for self-custody soars
Hardware wallet provider Ledger has raised 100 million euros ($109 million) in a Series C funding round extension, placing its valuation at 1.3 billion euros ($1.4 billion), in line with its previous funding in June 2021, Bloomberg reported on March 30. The funding is the first of three investment rounds. As per the report, a second closing is due in April, followed by a third funding to take place at a later date, given “high investor interest.” The capital will be used to expand the company’s distribution network, increase production,…
Crypto Custody Firm BitGo Releases Security Features Aimed at Bitcoin Ordinals
“Bitcoin Ordinals brought an entirely new layer of engagement to the Bitcoin network but, upon launch, the surrounding ecosystem missed key security components to ensure high-value Ordinals Inscriptions were safeguarded,” Chen Fang, BitGo’s chief operations officer, told CoinDesk over email. Original