Assad Jafri

SEC crackdown continues with Immutable latest to receive Wells Notice

The SEC has issued a Wells notice to blockchain gaming platform Immutable in what has become a widespread crackdown on crypto companies ahead of the US election. Immutable said in an Oct. 31 blog post that the move is the latest instance of the SEC’s “regulation-by-enforcement” policy targeting the crypto industry. It added that the […]
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Cryptocurrency

Trump reaffirms support for Bitcoin on Satoshi’s whitepaper anniversary

Former President Donald Trump marked the 16th anniversary of the Bitcoin (BTC) whitepaper with a pledge to end the “war on crypto,” presenting a stark alternative to current policy as he seeks support from crypto advocates ahead of the Nov. 5 election. Trump’s post on social media, which also targeted Democratic rival Kamala Harris, highlighted […]
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Cryptocurrency

StanChart sees high volatility for Bitcoin in lead up to US elections

Standard Chartered’s global head of digital assets research, Geoffrey Kendrick, cautioned that Bitcoin (BTC) may experience heightened volatility in the days before the US presidential elections. Kendrick’s analysis pointed to key metrics indicating an optimistic yet cautious market sentiment among Bitcoin traders as investors brace for economic and regulatory shifts related to the political event. […]
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Cryptocurrency

Transak hit with data breach affecting 1.14% of its user base

Transak, a company providing fiat-to-crypto services, has reported a significant data breach affecting more than 92,000 users. In an Oct. 21 update, the firm revealed that the breach stemmed from a phishing attack targeting an employee’s laptop, leading to unauthorized access to sensitive user information. According to Transak, the attackers exploited the employee’s credentials to […]
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Cryptocurrency

Northern Data embraces AI boom, mulls ditching Bitcoin mining roots

Europe’s largest Bitcoin miner, Northern Data, is exploring the potential divestment of its mining division, Peak Mining, as part of a strategic shift to focus entirely on its rapidly growing AI Solutions business, according to an Oct. 21 press release. The potential sale marks a significant move away from the company’s mining roots as it […]
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Cryptocurrency

Indian regulators to clear offshore crypto exchanges after strict AML review

India’s Financial Intelligence Unit (FIU-India) is reportedly set to approve two more offshore crypto exchanges to resume operations in the country by the end of the 2025 fiscal year, following a thorough review of their compliance with anti-money laundering (AML) laws. The development comes as the FIU continues to assess requests from four exchanges previously […]
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Cryptocurrency

Chamber of Progress demands clarity on crypto from presidential hopefuls

The Chamber of Progress, a technology industry coalition advocating for digital innovation, has urged moderators of the upcoming ABC presidential debate to include a critical question on crypto regulation. In a letter sent to moderators Linsey Davis and David Muir on Sept. 5, the organization highlighted the growing role of digital assets in the US […]
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Cryptocurrency

Bitfarms refutes ‘misleading claims’ made by Riot Platforms in open letter

Bitcoin miner Bitfarms issued a statement addressing what it called misleading claims by rival Riot Platforms amid ongoing tensions over the latter’s amended acquisition proposal. In the Sept. 4 press release, Bitfarms emphasized that Riot’s proposal is not about corporate governance but rather an attempt to acquire it at a discounted price. The firm further […]
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Cryptocurrency

CFTC’s $175,000 fine on Uniswap Labs sparks dissent over stifling DeFi innovation

Commissioner Summer K. Mersinger voiced strong opposition to the Commodity Futures Trading Commission’s (CFTC) decision to impose a $175,000 fine on Uniswap Labs for its illegal digital asset derivatives trading. In her dissent, Mersinger criticized the agency’s reliance on “regulation through enforcement,” arguing that the approach risks stifling innovation in DeFi and driving developers out […]
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Cryptocurrency

Bitcoin Fog founder argues 30-year sentence ‘vastly exceeds’ similar cases

Roman Sterlingov, the man behind the crypto mixer Bitcoin Fog, is contesting a potential 30-year prison sentence following his conviction on several money laundering charges. In a 37-page sentencing memorandum submitted to the US District Court for the District of Columbia, Sterlingov’s defense team contends that the recommended sentences of 30 and 20 years by […]
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Cryptocurrency

Franklin Templeton files S-1 application for crypto index ETF offering BTC, ETH exposure

Franklin Templeton has filed an S-1 application with the US Securities and Exchange Commission (SEC) to launch a crypto index exchange-traded fund (ETF). According to the Aug. 16 filing, the proposed fund — dubbed “Franklin Crypto Index ETF” — aims to offer investors exposure to the performance of Bitcoin and Ethereum through a regulated financial […]
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Cryptocurrency

Dubai approves crypto salaries in landmark court ruling

The Dubai Court of First Instance has affirmed the legality of crypto payments for salaries under employment contracts in a landmark ruling on Aug. 15. The ruling, issued in case number 1739 of 2024 (Labour), marks a significant shift in the UAE’s judicial approach to digital currencies, reflecting the growing acceptance of crypto in the […]
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Cryptocurrency

Trump’s transition team signals strong pro-Bitcoin direction, contrasting Harris’ regulatory approach

Former President Donald Trump’s campaign has appointed chairs for the presidential transition team, which is drawing attention for its strong pro-crypto stance. According to an Aug. 16 announcement, Cantor Fitzgerald CEO Howard Lutnick, a well-known Bitcoin advocate, and Linda McMahon, WWE co-founder and a prominent entrepreneur who has criticized central bank digital currencies (CBDCs), will […]
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Cryptocurrency

Trump reiterates support for Bitcoin during livestream with Adin Ross

Republican presidential nominee Donald Trump reiterated his support for Bitcoin and crypto during an interview with popular live streamer Adin Ross on Aug. 5. The former President reaffirmed statements made during his recent keynote at the Bitcoin2024 conference, saying that the US needs to foster innovation in the digital asset sector. He further stated that […]
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Cryptocurrency

US legislators call for CFTC crackdown on election gambling as Polymarket betting hits ATHs

A coalition of US lawmakers has called on the Commodity Futures Trading Commission (CFTC) to prohibit gambling on American elections. Several legislators endorsed the letter, including Senators Elizabeth Warren (D-MA), Richard Blumenthal (D-CT), Chris Van Hollen (D-MD), and Sheldon Whitehouse (D-RI), along with Representatives Eleanor Holmes Norton (D-DC), Jamie Raskin (D-MD), and John Sarbanes (D-MD). […]
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Cryptocurrency

Bitcoin falls to $57k as market bleeds amid fears of recession, war

Bitcoin (BTC) fell below key support levels as markets continued to bleed over the weekend due to fears of an impending global recession and escalating tensions in the Middle East. The flagship crypto has fallen more than 8% since the start of the weekend to $57,040 —  the lowest price recorded in almost three weeks. […]
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Cryptocurrency

Polymarket traffic surpasses DeFi giants amid Trump-Harris election betting craze

Polymarket, a leading prediction market platform, has seen a significant spike in website traffic, outpacing prominent DeFi platforms like Uniswap, dYdX, Compound, and GMX. The surge is primarily driven by intense interest in betting on the US presidential election, particularly on the potential face-off between former President Donald Trump and Vice President Kamala Harris. Polymarket […]
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Cryptocurrency

Kamala Harris must outline crypto strategy to counter Trump’s pro-Bitcoin influence, think tank says

Vice President Kamala Harris faces increasing pressure to clarify her stance on crypto as the 2024 election approaches or risk “ceding” the industry’s support to former President Donald Trump, according to a new think tank report. The report, published by the Official Monetary and Financial Institutions Forum (OMFIF), emphasized that Harris must engage with the […]
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Cryptocurrency

Trump touts Bitcoin’s potential to ‘wipe out’ US national debt, says its ‘a very big thing’

Former President Donald Trump has suggested that Bitcoin could be a key tool in addressing the United States’ burgeoning national debt, which has officially hit $35 trillion as of July 31. In an interview on Fox News on Aug. 2, Trump proposed an unconventional approach, hinting at the possibility of utilizing the flagship crypto to […]
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Cryptocurrency

VanEck CEO foresees Bitcoin hitting $350k as regulators begin quantitative easing

Jan Van Eck, CEO of the $107 billion asset manager VanEck, has predicted that Bitcoin could rally to $350,000 per coin as central banks embark on quantitative easing. In a recent interview with Fox Business, Van Eck expressed his bullish outlook, suggesting that Bitcoin’s market cap could reach half that of gold. He said: “Eventually, […]
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Cryptocurrency

WazirX finds no evidence of compromised devices, blames Liminal security

WazirX said its preliminary investigation found no evidence indicating that the machines of WazirX signers were compromised during a recent sophisticated cyber attack on its multi-signature Ethereum wallet, according to a July 25 blog post, The attack, which occurred earlier this month, has prompted significant concern and scrutiny within the crypto community. The exchange initially […]
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Cryptocurrency

Jersey City pension fund amends regulatory documents to include Bitcoin ETF exposure

Jersey City Mayor Steven Fulop has announced plans to invest a portion of the city’s pension fund in Bitcoin exchange-traded funds (ETFs), highlighting a significant step toward integrating crypto into municipal financial strategies. In a social media post on July 25, Fulop shared that the Jersey City pension fund is updating its documentation with the […]
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Cryptocurrency

OpenAI announces new SearchGPT prototype amid reports of looming financial woes

OpenAI announced the launch of its new SearchGPT prototype amid reports indicating the firm may face looming financial difficulties — potentially running out of cash within 12 months. SearchGPT aims to enhance AI search features by combining OpenAI’s advanced models with real-time web information. The initiative seeks to provide users with quick, accurate answers along […]
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Cryptocurrency

Celebrity tokens down 94% on average month after launch

The venture of celebrities into the crypto market has seen a significant downturn as the market values of their tokens have fallen dramatically since their launch a month ago. According to data compiled by a prominent crypto community member, Slorg, all 30 celebrity tokens launched on the Solana blockchain in June have experienced steep declines […]
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Cryptocurrency

France, Hong Kong regulators sign MOU to explore wholesale CBDCs, tokenization

The Banque de France (BDF) and the Hong Kong Monetary Authority (HKMA) announced a collaboration focusing on wholesale central bank digital currencies (CBDCs) and the tokenization of financial assets. According to the press release, the partnership marks a significant milestone in promoting financial innovation and enhancing interoperability in digital currencies. The HKMA’s participation in the […]
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Cryptocurrency

21Shares becomes second major firm to apply for a spot Solana ETF this week

Asset manager 21Shares has filed for a spot Solana exchange-traded fund (ETF), marking the second such application from a major firm this week. The proposed 21Shares Core Solana ETF is designed to track the performance of Solana (SOL) by aggregating the notional value of SOL trading activity across major spot exchanges, according to the S-1 […]
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Cryptocurrency

Industry experts challenge Peter Thiel’s reservations about Bitcoin’s future price potential

Peter Thiel, former PayPal CEO and co-founder of Founders Fund, recently expressed doubt about Bitcoin’s future price potential, stating it is unlikely to increase “dramatically” from its current levels. However, several industry experts challenge Thiel’s viewpoint, arguing that the flagship crypto still has significant room for growth. Bitcoin was trading at $60,300 as of press […]
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Cryptocurrency

Uniswap founder says Biden’s indifference toward crypto could cost him elections

Uniswap founder Hayden Adams criticized President Joe Biden’s approach to crypto regulation and said his administration’s perceived indifference to crypto could be a significant miscalculation in the 2024 election. Adams warned in a May 13 post on social media that the administration is ignoring a key issue for many Americans and compared the decision to […]
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Cryptocurrency

US prosecutors want SBF to serve at least four decades in prison

Federal prosecutors have requested a prison sentence of 40 to 50 years for FTX founder Sam Bankman-Fried (SBF) following his conviction for conducting one of the most significant financial frauds in recent times through the misappropriation of over $8 billion of customer funds. The US Attorney’s Office for the Southern District of New York filed […]
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Cryptocurrency

Solana defies overall market trend to hit new all-time high market cap

Solana (SOL) broke new ground on March 15 after an 11% rally brought its market capitalization to a new all-time high of $82.5 billion at a price of $186.77 per token despite the overall downtrend, which saw the market contract by 4%. This achievement surpasses its prior peak market cap of approximately $77.9 billion — […]
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Cryptocurrency