Two crypto companies, Coinbase and Revolut, suffered contrasting fortunes in the hands of the UK authorities during the past week. Coinbase fined The UK’s Financial Conduct Authority (FCA) fined CB Payments Limited (CBPL), a subsidiary of Coinbase Group, £3.5 million ($4.5 million) for breaches related to Anti-Money Laundering. In a July 23 notice, the FCA […]
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Curve Finance has implemented a fee switch for its crvUSD stablecoin to enhance adoption and ecosystem engagement, according to a statement released on June 28. Launched in 2023 by the DeFi protocol, crvUSD has faced adoption challenges. However, Curve noted that crvUSD has become an outstanding fee generator, outperforming all other Curve DEX pools by […]
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Two US lawmakers have opposed the Department of Justice’s (DOJ) attempt to expand the definition of a money-transmitting business. In a May 9 letter to US Attorney General Merrick Garland, Senators Cynthia Lummis and Ron Wyden argued that the DOJ’s broad interpretation could criminalize non-custodial crypto asset software services. According to the lawmakers: “The DOJ’s unprecedented […]
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Hong Kong financial regulator, the Securities and Futures Commission (SFC), issued a public warning about MEXC’s unlicensed operations within its jurisdictions. SFC stated: “The entity purports to be a virtual asset trading platform operating at the above website. It has been targeting Hong Kong investors but is not licensed by the Securities and Futures Commission.” […]
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MicroStrategy has increased its Bitcoin stash to more than 200,00 after acquiring 12,000 Bitcoin for $821 million between Feb. 26 and Mar. 10, according to a Mar. 11 SEC filing. This purchase was primarily financed by the net proceeds from its recent convertible debt offering, alongside excess cash reserves. With this purchase, MicroStrategy has acquired […]
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Arbitrum’s decentralized autonomous organization (DAO) has withdrawn a proposal aimed at funding the legal defense expenses of Tornado Cash’s developers. In a Mar. 9 post on social media platform X (formerly Twitter), Joseph Axisa, the Arbitrum DAO contributor who wrote the proposal, explained that it was removed for further refinements. Axisa said: “[The] proposal was […]
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Worldcoin’s adoption continues to grow despite the growing privacy concerns from several jurisdictions. According to its website, registered users on its platform have reached almost 4 million in less than a year after its launch, registering more than 600,000 accounts within the past week. Worldcoin, a crypto project co-founded by Sam Altman, is a blockchain-based initiative […]
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Avail, a blockchain infrastructure project, raised $27 million in its seed funding round led by notable venture capital firms Founders Fund and Dragonfly, according to a Feb. 26 statement shared with CryptoSlate. The raised capital will fuel the development of Avail’s three fundamental products: Data Availability (DA), Nexus, and Fusion. These components, forming what it […]
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Analysts from banking giant JPMorgan believe that the profit-taking from the Grayscale Bitcoin Trust (GBTC) may have concluded, potentially alleviating the downward pressure on Bitcoin prices.  The analysts explained that they had estimated that GBTC could see as much as $3 billion in outflows from investors previously exposed to its discount. But with the flow […]
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Ethereum layer 2 network Base has successfully integrated Chainlink Automation to enhance the scalability of smart contracts, according to a Jan. 23 statement provided to CryptoSlate. This integration would allow Base developers access to decentralized, verifiable, and gas-efficient smart contract automation features. Chainlink Automation is a secure and cost-efficient service tailored for Web3 developers, offering […]
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