The United States Securities and Exchange Commission (SEC) will continue its regulation-by-enforcement approach to the cryptocurrency industry for as long as it can to satisfy its goal of “choking” the industry, according to crypto exchange Coinbase. “The SEC is serious about the destruction of digital assets,” Coinbase declared in a May 31 filing with the U.S Court…

The EOS ecosystem has reached a consensus to approve a new tokenomics model, promising a “new era” for EOS tokenholders and developers. According to an announcement on May 31, EOS will transition from an inflationary token supply with a maximum of 10 billion EOS tokens to a fixed supply of 2.1 billion tokens. According to the…

American multinational investment firm Franklin Templeton has filed an amended S-1 application for its proposed spot Ether exchange-traded fund (ETF) product, and is the first among the applicants to disclose fees to investors. “The fees of the Sponsor accrues daily at an annualized rate equal to 0.19% of the net asset value of the Fund,” Franklin…

Harry Halpin, the CEO of Nym, a privacy-focused project, recently shared his thoughts on the sentence handed down to Tornado Cash developer Alexey Pertsev. During an interview with Cointelegraph’s Jonathan DeYoung at Consensus 2024, Halpin characterized the sentence as “radically unfair and unreasonable” and provided these analogies: “The punishment is not proportional either. Years in…

Outgoing United States Republican lawmaker Patrick McHenry has pressured the Senate to pass a key crypto-regulating bill before the November presidential election. The Financial Innovation and Technology for the 21st Century Act (FIT21) passed the House on May 22 with 71 Democrats and 208 Republicans in favor. “This should be a wake-up call for the Senate that…

Ethereum layer-2s aren’t just about scaling — they’re also a rallying point for “subcultures” that grow the Ethereum ecosystem more than the single chain could do alone, says Vitalik Buterin, one of the creators of Ethereum. In a May 29 blog post on Buterin’s self-hosted blog, the Ethereum co-founder examined the benefits of layer-2 blockchains outside of…

PayPal’s PYUSD stablecoin, which was recently deployed on Solana, will offer “confidential transfers” as an additional feature. On May 29, payments platform PayPal announced that it had deployed its dollar-pegged stablecoin on Solana, having only previously been available on Ethereum. One notable extension initialized for PYUSD is “confidential transfers,” which will allow merchants to “provide confidentiality for…

Ethereum, the world’s second-largest blockchain network, is expected to be the focus of the next spot crypto exchange-traded fund, but it might have a sales pitch problem. While Ethereum has been described as “the internet of money,” a “world computer,” and “digital oil” in the past — some worry that Ethereum doesn’t have an elevator…

LayerZero, a cross-chain interoperability protocol, is gearing up for its first token airdrop, but its strategy against token farmers is causing division. The main concern surrounds LayzerZero’s “anti-Sybil strategy.” Sybil activity occurs when a group or individual creates multiple wallets to interact with a protocol in the hopes of qualifying for its airdrop multiple times….

BlackRock’s income and bond-focused funds have bought shares of the asset manager’s own spot Bitcoin exchange-traded fund (ETF) in the first quarter, regulatory filings show. BlackRock’s Strategic Income Opportunities Fund (BSIIX) snapped up $3.56 million worth of the iShares Bitcoin Trust (IBIT) while its Strategic Global Bond Fund (MAWIX) made a $485,000 purchase, according to May 28 Securities and Exchange…