Australian regulator claims win over Kraken’s Bit Trade in federal court
A court has found Bit Trade offered a product without following design and distribution obligations and acted as a credit facility, in violation of Australian laws.
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The Yam Protocol Will Migrate Old Tokens to an Audited Contract
The saga continues... After the original Yam Finance protocol collapsed due to a single line of code, its developers are planning to relaunch the project on new, audited smart contracts.In a blog post published on Friday, the developers outlined a migration plan that will see the already existing tokens get transferred on a new smart…

Helium network team resolves consensus error after 4-hour outage
The network downtime affected token transfers and miner rewards, but not devices during the 4-hour outage caused by a failure in the Consensus Group. 302 Total views 13 Total shares The Internet of Things (IoT) blockchain Helium shut down for about 4 hours on July 11 due to validator outages from a software update, causing…

Securities regulators oppose special treatment of crypto in Coinbase case
Digital assets should not be seen as “somehow special,” nor should action against Coinbase be seen as “novel or extraordinary,” argues an association of North American securities regulators.In an Oct. 10 filing in the United States District Court for the Southern District of New York supporting the U.S. Securities and Exchange Commission (SEC), the North

Mastercard and Visa Are Making Bold Moves Toward Mass Crypto Adoption
Leading global payment companies Mastercard and Visa have been making moves to accelerate the support of cryptocurrency payment processors by opening up new options for users around the world. Both companies made strong statements in support of the use of cryptocurrencies in July by announcing respective projects and collaborations that are driving the adoption of…

Bitconnect promoter pleads guilty over Ponzi scheme, as platform faces new SEC charges
Former director and promoter of the notorious Bitconnect Ponzi scheme, Glenn Arcaro, has pled guilty to fraud charges related to his role in the now-defunct crypto exchange and lending platformHe has been ordered to pay back $24 million to investors.In a parallel action in the long-running saga the United States Securities and Exchange Commission (SEC)…

Ethereum price spikes to $1,161 for the first time in three years: What’s next?
Ether, the native cryptocurrency of Ethereum, rose to $1,161 but immediately corrected thereafter. 3361 Total views 10 Total shares The price of Ether (ETH), the native cryptocurrency of the Ethereum blockchain, achieved $1,161 for the first time since January 2018. Immediately after it hit a new three-year high, ETH corrected to below $900.Ether rallied due…

Crypto Biz: $470B bank enters crypto — Probably nothing, right?
As crypto traders debate whether Bitcoin (BTC) is going to $25,000 or $15,000 first, the world’s largest financial institutions are laying the groundwork for mass adoption. The proverbial floodgates are unlikely to open before the United States provides a clear regulatory framework for crypto, but regulators and industry insiders are confident that guidance could come…

Why is the crypto market down this week?
The cryptocurrency market has experienced a notable downturn recently, with the total market capitalization falling by 10% between August 14 and August 23, reaching its lowest point in over two months at $1.04 trillion. This movement has triggered significant liquidations on futures contracts, the largest since the FTX collapse in November 2022. Total cryptocurrency market capitalization,…