BlockFi custodial wallet users can be returned nearly $300 million, as a New Jersey judge ruled on Thursday May 11 that assets sitting in the wallets belong to clients rather than the estate of the bankrupt crypto lender. Bankruptcy Judge Michael Kaplan ruled against repaying a further $375 million in funds that clients tried to

Aegis Custody, a fully licensed and insured digital assets custodian, is offering to provide free custodial services to crypto companies founded or led by women. The company, which is U.S.-qualified through its entity Aegis Trust, said in a press release on Thursday that the initiative is aimed at supporting the growth of women-led crypto companies and

The unusual joint meeting of the two most crypto-relevant committees in the U.S. House of Representatives was called to work out the best legislative approach to digital assets, but one of the top Democrats questioned whether Congress should be writing a bill at all. The hearing of both the House Financial Services Committee and House

Bittrex’s U.S. and Maltese arms processed $425 million in withdrawals since the exchange announced it would shut down its U.S. operations around April 1, its attorney told a Delaware bankruptcy court.. The exchange filed for bankruptcy on Monday, citing regulatory uncertainty, after its assets under management had fallen nearly 80% in just two years. Susheel

Stablecoin issuer Tether reported $1.48 billion in net profit for the first quarter of the year, double the previous quarter’s result, according to its latest attestation published Wednesday. The company for the first time broke out bitcoin (BTC) and gold holdings detail in its consolidated reserves report. As of March 31, Tether held $1.5 billion

Hungary sees no urgent need for a widely available central bank digital currency (CBDC) but is experimenting to see if one could help the unbanked, a senior official said recently in an interview. In principle, as a European Union (EU) member, Hungary is obliged to join the euro but has not appeared in any great

New European Union rules allowing tax authorities to share data on people’s crypto holdings have been unanimously supported by the bloc’s member states, meaning formal agreement on the law is likely next week, a senior official has said. Last year the European Commission proposed to curb tax evasion using crypto via an eighth amendment to

Many Ethereum validators opted to withdraw their cryptocurrency from the blockchain’s staking mechanism last month after the network’s Shapella upgrade went live, allowing redemptions for the first time. But some validators who withdrew to wallets hosted by the big U.S. crypto exchange Coinbase were treated to an unwelcome surprise: The proper tech support wasn’t in

Crypto media outlet Blockworks has raised $12 million in a funding round led by private equity firm 10T Holdings at a $135 million post-money valuation. The capital will be used to help expand the outlet’s research and data analytics offering, Blockworks Research. “For the past year, we’ve been building Blockworks Research, a powerful investment platform

The ongoing battle between the music industry and artificial intelligence (AI) continues as Spotify removes AI-generated music. According to a report by the Financial Times (FT), the music streaming platform has removed 7% of songs created by the AI music startup Boomy, amounting to “tens of thousands” of songs. Spotify is also said to be

A former Coinbase employee was sentenced to two years in prison  after pleading guilty to insider trading charges,.  Ishan Wahi, a former product manager at the U.S.-based crypto exchange, was arrested in July 2022 and charged with wire fraud and insider trading for feeding his brother and another man insider information about upcoming crypto listings.

Yield farming is a method of generating extra cryptocurrency with your existing cryptocurrency. It entails you lending your money to others through smart contracts, which are computer programmes. You receive fees in the form of cryptocurrency in exchange for your services. Farmers that want to increase their yield will employ more complex tactics. To maximise

BCH, which was recently trading over $122, was one of the only digital assets trading in the green on Tuesday. “Bitcoin cash is a fork of Bitcoin so the market is speculating that there will be some spillover as a result of high fees/congestion,” Arca trader Kyle Doane said in a recent press interview. Doane

Bitcoin ordinals, also known as Bitcoin NFTs, are gaining popularity in the Web3 space as more marketplaces adopt and offer digital assets. Binance, a leading cryptocurrency exchange, has recently announced that it will soon support Bitcoin ordinals on its NFT marketplace, expanding its multichain NFT ecosystem to include the Bitcoin network. This move follows other

Coinbase, the cryptocurrency exchange and owner of Coinbase Custody Trust Company, has called for revisions to the U.S. SEC’s proposed rulemaking on registered investment advisers’ (RIAs) responsibilities to store client assets with qualified custodians. In a letter addressed to the SEC on May 9, Coinbase’s chief legal officer, Paul Grewal, criticized the updated RIA custody

Artifact Labs, a Web3 company that works to preserve records of historical events on the blockchain, has closed a $3.25 million funding round.  The round was led by Blue Pool Capital, with Animoca Ventures also participating. Blue Pool Capital, is a fund that principally invests the wealth of Alibaba founders Jack Ma and Joe Tsai.

Fees on the Bitcoin blockchain have surged to two-year highs as the ‘Bitcoin Request for Comment’ (BRC-20) tokens and the rising popularity of the Ordinals protocol drives demand for block space.   Average transaction fees on the Bitcoin network were hovering at just under $20 during European hours on Monday, a bump from last week’s

Liechtenstein is planning to add bitcoin (BTC) as a payment option for government services, German news outlet Handelsblatt reported. Any crypto received as payment will likely be immediately exchanged for Swiss francs, Liechtenstein’s national currency, Prime Minister Daniel Risch told the newspaper. The European Union is now finalizing its landmark licensing regime known as the

Blockchain company Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC) is set to cost the firm around $200 million, Cointelegraph reported Monday citing, the Ripple CEO Brad Garlinghouse. Garlinghouse reportedly told onlookers at the Dubai Fintech Summit that he would not advise crypto entrepreneurs to set up in the U.S., adding the

Lending protocol Aave will deploy its version 3 (V3) on the Ethereum layer 2 ecosystem Metis Network following an overwhelmingly positive community vote that concluded over the weekend. A community vote on Aave’s governance forum saw 100% of all voters signal support for the move. No voter was against the move. Aave’s deployment on Metis

Internet payment processor Stripe has introduced a fiat-to-crypto on-ramp to address the “cold start problem” faced by Web3 companies due to customers not having “crypto in their wallets to carry out transactions.” According to a May 4 statement, Stripe’s newly launched fiat-to-crypto on-ramp, which Stripe itself will host, will allow Web3 companies to offer United States-based

The government of Kazakhstan received 3.07 billion tenges (approximately $7 million) in tax payments from crypto mining entities in 2022 following the implementation of an amended law regulating the fiscal burden of mining cryptocurrencies, according to local media reports. Preliminary data from the government for 2023 shows that mining fees collected by April 27 totaled 240 million

Big Four accounting firm Deloitte has integrated blockchain technology to allow customers to store verification credentials in a single digital wallet to streamline the “typically inefficient” verification processes. In a May 4 statement, Deloitte announced it has integrated KILT Protocol technology — a Polkadot parachain — to enable the issuance of reusable digital credentials to its customers.

The world of cryptocurrency has seen its fair share of volatile market movements, but none quite as eventful as the launch of the WSB Coin token project. Launched on May 2, by moderators of the popular trading subreddit r/WallStreetBets, the token claimed to be the official memecoin of Wall Street Bets. This subreddit gained notoriety

Bitget, a cryptocurrency derivatives exchange, has announced a new corporate social responsibility project, Blockchain4Youth, aimed at promoting cryptocurrency education among the younger generation. The initiative will allocate $10 million over five years towards providing blockchain courses and certifications through Bitget Academy and hosting campus lectures in partnership with universities worldwide. Bitget will also collaborate with

Coinbase, the largest US-based cryptocurrency exchange, has been embroiled in a legal battle with the US Securities and Exchange Commission (SEC) over regulatory clarity for trading digital assets. On May 4th, Coinbase’s chief legal officer Paul Grewal announced that the US Court of Appeals for the Third Circuit has responded to the complaint against the

The United States Securities and Exchange Commission (SEC) has issued its largest-ever whistleblower award totaling $279 million. The SEC generally issues awards ranging between 10% to 30% of collected monetary sanctions larger than $1 million. To receive such an award, the whistleblower must provide information that directly assists the SEC in successfully imposing enforcement actions on a

The French bank BNP Paribas is collaborating with the Bank of China (BOC) to promote China’s digital currency, the digital yuan, to its corporate clients, the South China Morning Post reported.  The partnership will enable BNP Paribas China’s corporate clients to connect with the BOC system, allowing users to manage their digital yuan wallets by linking

On May 4, Argentina’s central bank banned payment providers from offering crypto transactions, alleging it intends to reduce the country’s payment-system exposure to digital assets.  According to a statement from the monetary authority, payment providers may not offer or facilitate crypto services through their applications. The move brings payment fintechs and financial institutions under the