JPMorgan Chase is poised to acquire the assets of First Republic Bank (FRB), after regulators closed the bank on May 1. JPMorgan and several other banks had submitted bids to acquire the troubled bank’s assets after early efforts to rescue it failed. As part of the purchase and assumption agreement with the FDIC, JPMorgan will

Art auction house Sotheby’s is expanding its non-fungible token (NFT) art offerings through the release of a specially curated, peer-to-peer secondary marketplace. Through its Web3 arm, Sotheby’s Metaverse will now offer direct transactions between collectors on its platform. The integrated sales system will be fully on-chain via the Ethereum and Polygon networks, and users can pay in either native token

FARE Protocol has raised $6.2 million in a seed round led by Goat Capital – the firm managed by Twitch founder Justin Kan – and C Squared Ventures. The fundraise comes ahead of the ecosystem and native token launch on Ethereum layer 2 blockchain Arbitrum later this year. Arbitrum was recently at the center of

Tron founder Justin Sun tweeted on Monday that he has arranged a full refund of a $56 million transfer to exchange platform Binance after a warning from the latter’s CEO against a potential token grab of the new SUI token. After the substantial transfer made in trueUSD (TUSD) got flagged by Whale Alert early Monday, Binance CEO Changpeng

In the aftermath of a string of high-profile bank collapses in the United States, regulatory agencies are acknowledging the errors they have made. Internal evaluations of how each organization dealt with Signature Bank and Silicon Valley Bank (SVB) have been made public by the New York Department of Financial Services (NYDFS) and the Federal Reserve

Mastercard has launched a new Web3 solution called the “Mastercard Crypto Credential,” which aims to enhance user verification standards in the digital asset space. The solution provides users with a unique identifier, which can help verify that an address has been vetted by Mastercard and is operating in compliance with the firm’s standards. This new

OpenAI’s interactive AI chatbot, ChatGPT, has had its temporary ban in Italy lifted after being accused of violating GDPR. On March 31, the Italian data protection agency, Garante, issued the ban after suspecting that ChatGPT had violated the European Union’s General Data Protection Regulations. The ban was lifted recently after the company complied with the

Prominent YouTuber DidYouKnowGaming was able to regain access to his YouTube channel, which an anonymous bad actor hacked to promote XRP cryptocurrency scams. While hacking into YouTube channels to promote scams has been a long-standing method of targeting unwary investors, the number of creators on the platform reporting hacks has increased. Most recently, DidYouKnowGaming — a YouTuber with 2.4

The Federal Deposit Insurance Corporation (FDIC) has requested Cross River Bank known for its services to fintech and crypto firms like Visa and Coinbase to “self-correct” and appropriately address weaknesses in its lending activities. On April 28, the FDIC made public a consent order executed with Cross River Bank on March 8, which alleged that the bank

The U.S. House Financial Services Committee and House Agriculture Committee will put together legislation to oversee the crypto sector in the “next two months” after holding joint public hearings starting May, said Rep. Patrick McHenry (R–N.C.), chair of the House Financial Services Committee. When asked whether such a bill could be signed by President Joe

The World Economic Forum (WEF) recently shared a video promoting the efforts of Crusoe Energy Systems, a Colorado-based cryptocurrency mining firm that has been recognized for its eco-friendly practices. The video focuses on Crusoe’s innovative approach to reducing flaring, a process where large amounts of gas are wasted during oil production or from decomposition. In

Gamers want to participate in the creative environment of gaming and be a part of the ecosystem, but will flee if they think that the metaverse and Web3 are just about fleecing them for money, Daniel Alegre, the new CEO of Yuga Labs, said on stage at the Consensus 2023 festival Alegre joined Yuga Labs

The crypto industry is “absolutely at war” against policy and lawmakers in the U.S., particularly against Securities and Exchange (SEC) Chairman Gary Gensler and Senator Elizabeth Warren (D-Mass.), Blockchain Association CEO Kristin Smith said during a panel. “Elizabeth Warren has an anti crypto army. She is advertising on Twitter for her campaign, that she has

The UK government is seeking to make changes to the tax treatment of lending and borrowing on decentralized finance (DeFi) protocols. HM Revenue and Customs has launched a consultation that will run until June 22, 2023, asking for input from investors, professionals, and firms engaged in DeFi activities, as well as representative bodies and think

Signature Bank, a crypto-friendly institution, fell apart because of mismanagement by its officers and “contagion effects” after the collapse of Silicon Valley Bank and wind-down of Silvergate Bank, a federal bank regulator said in a recent report. The Federal Deposit Insurance Corp. said Signature Bank relied heavily on uninsured deposits, didn’t have strong liquidity risk-management

Payments company PayPal (PYPL) will allow on-chain transfers from Venmo accounts starting in May, Jose Fernandez da Ponte, the company’s senior vice president and general manager of blockchain, crypto and digital currencies, said during a panel at Consensus 2023. “You can buy a gift on Venmo and send it out. You can invite people and

Polygon Labs and Google Cloud have announced a multi-year partnership aimed at enhancing the development of Ethereum scaling protocol’s infrastructure and tools. The partnership was unveiled at Consensus 2023 and is expected to provide a significant boost to the Ethereum ecosystem. Polygon’s core protocols, including Polygon proof-of-stake (PoS), Polygon zkEVM and Polygon Supernets, are set

The Vatican Apostolic Library has announced that it will implement blockchain and NFT technology to digitize and preserve its collection of manuscripts, books and historical documents. The Vatican Library has launched this project in collaboration with technology service provider NTT DATA. In particular, its digital archiving solution “AMLAD” will be used. It will preserve the

The U.S. Commodity Futures Trading Commission (CFTC) imposed a $3.4 billion fine on the CEO of cryptocurrency pyramid scheme Mirror Trading, Cornelius Johannes Steinberg. A statement from the regulator alleges that Cornelius Johannes Steynberg, a resident of South Africa, participated in an international, multi-level marketing scheme in which he raised investments in bitcoin. Along with

Decentralized-finance protocol 0VIX has lost roughly $2 million in a flash-loan exploit, according to on-chain data on Polygon’s block explorer.A total of 1.45 million USDC, along with other tokens, was stolen before being bridged to the Ethereum mainnet on Stargate Finance, where it was eventually swapped for ether (ETH). The protocol had $6.4 million in

Hong Kong is reminding banks that they can provide services to virtual asset companies amid complaints about the difficulty of opening bank accounts in the jurisdiction, its de facto central bank said in a recent press interview “There is no legal and regulatory requirement prohibiting banks in Hong Kong from providing banking services to virtual

Polygon Labs and Google Cloud announced a multi-year partnership at Consensus 2023 that will see the cloud computing service provider help boost the development of the Ethereum (ETH) scaling protocol’s tools and infrastructure. Polygon’s core protocols, including Polygon PoS (proof-of-stake), Polygon zkEVM and Polygon Supernets, are set to benefit from the provision of Google Cloud’s

Crypto exchange KuCoin confirmed that the address allegedly responsible for launching thousands of memecoin scams belongs to one of its users. However, the exchange will not freeze the user’s assets without any official notice from law enforcement.  On April 26, a Twitter user identified a wallet address that launched two to five memecoins daily for

Controversies around artificial intelligence (AI) and its use of copyrighted material have arisen in various scenarios after a major uptick in the use of the technology in content creation.  Legislators in the European Union have responded to the growing usage of AI in a vote on April 27, which pushed forward a draft of a new bill

Binance is set to begin operations in the Japanese market, according to a notice published recently In November last year, Binance, the world’s largest crypto exchange by trading volume, acquired regulated crypto exchange Sakura Exchange BitCoin (SEBC). Existing services on SEBC will be terminated on May 31 and a new service under the provisional name

Artificial Intelligence is knowledge shown by machines, rather than normal insight shown by creatures including people. AI is a wide term that alludes to the utilisation of specific sorts of investigation to follow through with responsibilities from driving a vehicle to fraud detection. Previously, fraud detection has been done by rules-based calculations which are regularly

Bitget has pledged $10 million for the development of the Fetch.ai ecosystem, the cryptocurrency derivatives exchange announced on April 27. Fetch.ai provides the infrastructure to build autonomous services. Its core product is the artificial intelligence (AI) agent network, a decentralized network of autonomous agents that can perform various tasks, such as data analysis and complex

The county of Santa Cruz in northern California is one of the latest to adopt and implement the usage of blockchain-based solutions on a governmental level.  In a meeting of the Board of Supervisors for the County of Santa Cruz held on April 25, the members unanimously decided to go forward with implementing the usage of digital

Data from Google Ads coupled with blockchain analytics reveals that over $4 million has been stolen from users that have fallen for malicious phishing websites promoted on Google. According to Web3 anti-scam service provider ScamSniffer, malicious adverts for phishing websites have been prevalent on Google ads searches in recent weeks. The URLs lead to fraudulent

Big Four accounting firm Deloitte is ramping up its crypto expertise, actively seeking individuals with cryptocurrency knowledge to join its team. While other “Big Four” accounting firms like Ernst & Young, KPMG, and PricewaterhouseCoopers have no crypto-related job openings, Deloitte has over 300 in the United States alone, with almost all of them posted just