At the age of 25, Chicago-based trading giant Jump Trading’s 25-year-old Kanav Kariya rose from intern to head of cryptocurrency operations. Kanav Kariya is no longer with the company. The announcement comes after Fortune revealed last week that the company’s cryptocurrency transactions are being looked into by the U.S. Commodity Futures Trading Commission. Kariya posted on X Monday that he’s exiting today, “a moment I’m receiving with both a heavy heart and great excitement about the road ahead.” In 2021, word leaked out of his appointment as president. In the wake, the company had several setbacks. Jump had to cover its losses out of pocket after the Wormhole cryptocurrency bridge, which it funded, was breached in early 2022, losing over $300 million. Subsequently, Do Kwon’s Terra/Luna project went awry, resulting in criminal charges against Kwon once more.Before it collapsed, Jump reportedly made more than $1 billion from that ecosystem, according to US officials. When he was hired as president of Jump Crypto, he was only 25 years old. He is now in his late 20s. “I plan to stay engaged with the portfolio companies I’ve been most involved with and hopefully take some time to process the unbelievably eventful few years we’ve had,” he stated on X Monday.

The world’s biggest stablecoin provider, Tether, announced that as part of a “strategic transition to prioritize community-driven blockchain support,” it will no longer be minting the USDT token, which is correlated with the dollar, on the Algorand and EOS blockchains. To “strike a balance between maintainability, usage and community interest,” Tether stated in a blog post on Monday, the project’s goal. As of Monday, Tether will no longer be creating new USDT on Algorand and EOS, but it will still be redeeming the stablecoin on those two chains for the upcoming year. As per the Tether website, over $113 billion worth of USDT is presently in circulation, dispersed among 16 distinct blockchains.But only two chains hold the great majority of USDT: Tron, with about $59 billion, and Ethereum, with $52 billion. Merely $85 million of USDT, or 0.08% of the total supply, is present on Algorand, while just $17 million, or 0.015% of the total supply, is present on EOS.

The bitcoin miner Riot Platforms (RIOT) has withdrawn its offer to acquire Bitfarms (BITF), a peer, and plans to restructure the board prior to pursuing any more takeover actions. “Over the course of more than a year of attempting to engage constructively with the Bitfarms Board regarding a potential combination of Bitfarms and Riot, it has become evident to Riot that good faith negotiations simply will not be possible until there is real change in the Bitfarms boardroom,” Riot said in a press

Inactive bitcoin trading platform On Monday, Mt. Gox announced that, after repeatedly extending deadlines, it will begin distributing assets that were taken from customers in a 2014 attack the first week of July. Nobuaki Kobayashi, a trustee, stated in a statement released on the Mt. Gox website on Monday that “the Rehabilitation Trustee has been

The well-known collateral management and settlement network, ClearLoop, of cryptocurrency custody expert Copper has welcomed Kraken MTF, the exchange’s institution-only derivatives trading division, to its network. Based in London and subject to U.K. regulations by the Financial Conduct Authority (FCA), Kraken MTF was acquired by the exchange approximately five years ago as Crypto Facilities. The

According to a survey conducted by Nomura (NMR) and its digital asset subsidiary Laser Digital, more than half of the Japanese investment managers surveyed said they intend to make investments in digital assets within the next three years. The poll revealed that 25% of businesses thought favourably of digital assets, and 54% of participants planned

In an 84-minute podcast interview, vocal executive chairman and co-founder of business intelligence firm MicroStrategy Michael Saylor recently extolled the virtues of Bitcoin, predicting that it will reach $10 million per coin and that China as a whole will embrace the digital currency. Bits of Saylor’s outrageous price prediction, “the cost of Bitcoin’s going to

Due to signing several phishing signatures, a MakerDAO governance delegate lost $11 million worth of Aave Ethereum (aEthMK) and Pendle USDe tokens in a phishing scam. Fraud The incident was discovered by Sniffer in the early hours of June 23. After clicking on several phishing links, the user became a victim of the fraud and

Two classic signs indicate that Bitcoin BTC tickers are setting up the ideal circumstances for a new BTC price breakthrough. Popular trader Roman has found evidence of a bullish continuation case for BTC/USD on X (previously Twitter). Even if hodlers had a difficult time with Bitcoin for a large portion of June, it is still

Users have been reassured by cryptocurrency portfolio manager CoinStats that the security incident has been “mitigated,” and updates will be provided when appropriate. Following a security compromise that impacted 1,590 cryptocurrency wallets, CoinStats, a cryptocurrency portfolio manager, has temporarily ceased user activity. In a June 22 X post, CoinStats stated, “The attack has been mitigated,

The billionaire investor Mark Cuban asserts that he did not send any emails from his account on June 22 “after 3.30pm” Pacific Standard Time. A few months after more than $800,000 was taken out of his cryptocurrency wallet, billionaire investor Mark Cuban says he was tricked by a bogus call and lost access to his

EigenLayer aims to safeguard its service while ensuring that it is accessible to all customers by implementing this security feature. To thwart Sybil and DDoS assaults, EigenLayer has added an extra layer of security to its EigenDA data-availability service on the Ethereum mainnet. In order to provide improved security and safe access to the service,

The minister of information and national orientation for Nigeria, Mohammed Idris, stressed that the Gambaryan government in his own country fully supports him consularly. Claims that Tigran Gambaryan, an executive at Binance, being detained in substandard conditions have been refuted by the Nigerian government. A government minister made the case that he gets full consular

It’s unclear if the Trump 47 Committee converted the money to cash or returned the Bitcoin portion of the payment. After giving more bitcoin to Donald Trump’s presidential campaign than was permitted by federal law, the billionaire Winklevoss twins—founders of the cryptocurrency startup Gemini—were reimbursed. An anonymous campaign official was quoted in a Bloomberg story

. The Hong Kong Legislative Council is actively looking for input on a number of important Web3 policy development issues, such as striking a balance between the legal, regulatory, and technical frameworks. According to Johnny NG Kit-Chong, a member of the Hong Kong Legislative Council, suggestions for policies and topical talks about the future course

Rapper Curtis James Jackson III, popularly known as “50 Cent,” has stated that hackers exploited his website and X account to promote a cryptocurrency pump-and-dump token scheme. Fraudulent engineers established a new cryptocurrency token called “GUNIT,” sometimes known as a “Rug pull,” and took advantage of Jackson’s enormous X following of over 12.9 million followers to draw in more investors and drive up the price before depleting its value. The price of the coin immediately plummeted to $0.00016. Jackson claimed on June 21 that his X account and website had been hacked and that a large portion of the victim’s finances had been taken out of the project in a post to his 32.8 million Instagram followers. “Twitter worked quickly to lock my account back down. Whoever did this made $300,000,000 in 30 minutes,” Jackson said before declaring that he has “no association with this crypto.” Posting three pictures, he showed discussions on the GUNIT memecoin from other members of the cryptocurrency community. An obvious rug-pull pattern can be seen in the data, which exhibit a rapid price increase followed by a fast decrease. According to Cointelegraph’s analysis of GUNIT memecoin transaction data on Dex Screener, a number of wallet addresses sold a sizable quantity of the token. Memecoin was promoted on the rapper’s X account, and after that, four accounts sold more than $100,000 of it.Consequently, according to 50 Cent, users had been duped out of almost $300 million—a sum that greatly exaggerates the profit that anonymous dealers received for the sale of GUNIT tokens. There had been $19.4 million worth of transactions in the token at the time of publishing. The announcement is made in response to some celebrities who have recently been linked to cryptocurrency debuts. The industry was left perplexed by confusing messages when Caitlyn Jenner, one of the most recent celebrities to enter the memecoin space, launched her own token.After being originally discounted, rumors that her X account had been hacked started to circulate again. She was also protecting the JENNER token itself at the same moment. Jenner’s X account released a statement on May 27 asking fans to “send me some of your favourite memecoins,” according to Cointelegraph. While she later took the post down, she doubled down on promoting JENNER. “That ad for a third party token was taken down!

One of the top trade associations in the blockchain space, the Chamber of Digital Commerce, has provided input on the US Internal Revenue Service’s (IRS) proposed Form 1099-DA, which is meant to be used for reporting transactions involving digital assets. The thorough answer from the chamber emphasizes the necessity of streamlining the form so that brokers handling digital assets, like cryptocurrency, can utilize it with more ease. It also draws attention to privacy issues, such as asking for only the data required for taxpayers to disclose transactions involving digital assets. The chamber criticized the draft form for requesting excessive information. It suggests that the final form only requires information necessary for basic tax reporting, while brokers should retain additional details for use during specific IRS examinations. The form’s request for private data, including transaction IDs and digital asset addresses, also drew criticism from the blockchain advocacy group. It makes the case that such information might violate taxpayer privacy and ought to be gathered only in cases where there is probable criminal behavior. The remark highlights the omission of specific broker instructions, which are implied to be necessary by the draft form.In order to guarantee that brokers can appropriately complete the form, the chamber recommends that the IRS publish the instructions for public review prior to finalizing it. Additionally, it proposed that brokers should be able to declare on the form whether a particular digital asset is subject to a different tax rate, such as non-fungible tokens that may be subject to a higher tax rate since they are considered collectibles. It claims that doing so would guarantee correct tax reporting and assist in preventing errors in IRS processing. On April 18, the IRS made the draft form available and requested feedback. The chamber’s contribution comes after its prior feedback on relevant proposed regulations that were filed in November 2023. Form 1099-DA will be prepared by the brokers for each customer who trades or sells digital assets, according the draft form. Operators of kiosks, processors of payments for digital assets, providers of hosted and unhosted wallets, and other individuals are brokers. Once the suggested reporting criteria were made public, the cryptocurrency community expressed its opinions. The regulation, according to the Blockchain Association, involves “fundamental misunderstandings about the nature of decentralized technology and digital assets.”

Artificial intelligence (AI) will surpass human intelligence by one to ten times by 2030 and by ten thousand times by 2035, according to Masayoshi Son, the founder and CEO of the Japanese investment group Softbank. Son made these remarks on June 21 in Tokyo during Softbank’s annual meeting. There, he gave an emotional speech outlining the company’s future aims to the workers, according to those who witnessed it. Son’s opinion suggests that Softbank is focusing on creating a “artificial super intelligence” (ASI) that has the potential to completely transform human existence. This seems to be the key conclusion from his remarks. Son talked about ASI and artificial general intelligence (AGI) in his address. The Softbank CEO stated that there is a 10X gap between the two: an AGI system would exhibit the same level of “genius” as a person. In contrast, an artificial superintelligence (ASI) would be 10,000 times more intelligent or capable than a human, presumably far beyond the bounds of the human brain. It is important to note that there is currently no agreement among scientists regarding the capabilities of an artificial general intelligence (AGI) or artificial sentient intelligence (ASI), or even whether it is even feasible to create such an entity using existing technology. AI systems that are able to reason at the level of a human are yet theoretical. Son continued by talking about his own mortality as well as Softbank’s future, which may have alarmed some investors since the company’s shares dropped by more than three percent after the Tokyo stock exchange closed. Son claimed that two years ago he became aware that he was “getting old” and that he seemed to want to make the most of his life before it ended, as seen in a video of the event that Cointelegraph was able to view. “SoftBank was founded for what purpose? For what purpose was Masa Son born? It may sound strange, but I think I was born to realize ASI. I am super serious about it.”

The regulations pertaining to digital asset issuance, offering platforms, exchange, and custody have been modified by the Nigerian Securities and Exchange Commission (SEC). The SEC sent a formal notice to the public outlining its plans to alter these important rules. The purpose of the amendment process is to improve the regulatory framework by making it more thorough and adaptable to the intricacies of digital asset markets. As part of this regulatory overhaul, the SEC introduced a special compliance program called the Accelerated Regulatory Incubation Programme (ARIP). This program is specifically designed for Virtual Assets Service Providers (VASPs) and offers a path for these entities to align with the new regulatory requirements.  The SEC has established a unique timeframe for the onboarding procedure, which will enable VASPs to take part in the ARIP, according to the circular posted on its website. The SEC ePortal provides access to the onboarding procedure. Although the goal of this application process is to increase compliance, VASPs must do it within 30 days after the circular date. The SEC also issued a stern warning that

PancakeSwap, a decentralized cryptocurrency exchange, will launch CupcakeHop, a portfolio management tool driven by artificial intelligence (AI). The technology, created by Bril Finance with support from PancakeSwap, aims to enhance the management of investments in decentralized finance (DeFi).CupcakeHop, scheduled for release in August, intends to provide real-time risk management and customized investing strategies to a wider user base, hence enabling DeFi. Connor O’Shea, the CEO of Bril Finance and the creator of CupcakeHop, stated in a Cointelegraph interview that the AI portfolio management tool automates investing methods based on a user-defined goal and current market conditions. “It’s continually adjusting strategies to optimize performance with the intended purpose of maximizing returns.” In order to guarantee the security of user-deposited assets, the new tool has a risk engine that will recognize and isolate possible hazards and automatically rebalance pools. Speaking with Cointelegraph, O’Shea made a prediction on the inclusion of a risk management slider aspect. “What I envision is effectively a risk slider that’s proportional to return. If you’re a user, you come in, and you get three buttons: high risk, medium risk, or low risk. And then, for each of those, we

Michael Dell, the CEO of Dell Technologies (DELL), a company valued at over $100 billion, expressed at least a passing interest in bitcoin (BTC) by forwarding a post from bitcoin advocate Michael Saylor on X that was favorable to BTC. Dell blogged on Thursday, stating that “Scarcity creates value.” Saylor, the executive chairman of MicroStrategy (MSTR), responded to that by stating, “Bitcoin is Digital Scarcity,” which Dell later reposted. Dell later shared a picture of Cookie Monster from Sesame Street that had been digitally edited, presumably by Saylor, to portray the well-known children’s monster chomping on bitcoin rather than cookies. This conversation didn’t stop there. Saylor has served as CEO and executive chairman of MicroStrategy for the past almost four years. During that time, the company has acquired 226,331 bitcoin for a total value of $15 billion, with the most recent acquisition occurring this week. Saylor has also advocated for other corporations to adopt similar practices with their own balance sheets. Fewer businesses than Saylor’s MicroStrategy have included bitcoin into their treasury plans up to this time. Dell’s balance sheet as of May 3 showed $34.6 billion in current assets, of which $5.8 billion were cash and cash equivalents, according to a recent filing. There is no mention of bitcoin.

Osmosis, a decentralised autonomous organisation (DAO), decided to accept a fee-free Bitcoin bridge so that bitcoin (BTC) could enter the Cosmos ecosystem. According to an email release obtained on Friday, a revenue-sharing deal with Bitcoin bridge Nomic is crucial to the process. By enabling users to transfer cryptocurrency assets between systems, a bridge helps blockchains

Bloomberg said on Friday that Standard Chartered (STAN) is setting up a spot trading desk for the purchase and sale of ether and bitcoin. According to the article, which cites people with knowledge of the situation, the bank’s FX trading unit will incorporate the new London-based desk when it opens for business. Standard Chartered was

American legislators Representatives Chrissy Houlahan (D-Penn.) and French Hill (R-Ark.) paid Tigran Gambaryan a visit on Wednesday when he was detained in Nigeria on allegations of money laundering related to his involvement with the cryptocurrency exchange. With a visit to the nation to talk about counterterrorism measures, “we also had the opportunity to advocate for

The relationship between Blockchain and Web3 is gaining attention as the internet evolves. Blockchain is the technology behind cryptocurrencies like Bitcoin, while Web3 represents the next phase of the internet, focusing on decentralization. What is a blockchain? Blockchain is a digital ledger system that uses several computers to record transactions in a way that makes

The cryptocurrency exchange Kraken has made up for lost money in a well-publicized bug bounty exploit incident. The June 9 Kraken-Certik saga came to a conclusion when Kraken verified the repatriation of the almost $3 million worth of stolen digital assets. In a June 20 X post, Nicholas Percoco, Chief Security Officer of Kraken, verified the recovery of the cash, less transaction fees. “Update: We can now confirm the funds have been returned (minus a small amount lost to fees).” On June 19, Kraken’s CSO made the initial announcement of the $3 million missing cash. He stated that the monies were wrongfully removed from the treasury by a “security researcher” who had found and shared an existing issue. According to Kraken, the security researcher who was withholding the money and threatening to phone the exchange’s business development team in exchange for a reward was extorting them. Blockchain security company CertiK publicly identified itself as the “security researcher” that Kraken claimed stole $3 million in digital assets shortly after the latter posted about the lost monies. CertiK said in an X post on June 19 that it had notified Kraken of an issue that enabled it to take millions of dollars out of the exchange’s users’ accounts. Certik further asserted that the exchange’s crew had threatened him. “After initial successful conversions on identifying and fixing the vulnerability, Kraken’s security operation team has THREATENED individual CertiK employees to repay a MISMATCHED amount of crypto in an UNREASONABLE time even WITHOUT providing repayment addresses.”

The largest stock market in Australia launched its first spot-bitcoin (BTC) exchange-traded fund (ETF) on Thursday, in response to the growing global need for a simple means of investing in cryptocurrencies. 90% of the nation’s equities market is traded on the Australian Securities Exchange (ASX), where the VanEck Bitcoin ETF (VBTC) went live. Earlier this

Shortly after doing the same on Chiliz Chain, a division of the state-owned energy corporation of France, EDF, has joined Cronos, the blockchain network created by cryptocurrency exchange Crypto.com, as a validator. Joining a pool of 32 validators on Cronos’ open-source Ethereum Virtual Machine (EVM) protocol, Exaion assists companies with digital transformation by addressing the

The investigation of settling tokenized securities using a wholesale central bank digital currency (CBDC) by the Swiss National Bank (SNB) and Swiss Digital Exchange (SDX) is about to move into a new phase. Over the next two years, more financial institutions and transaction types will be added. Institutional market participants aiming to settle large trading