Defunct cryptocurrency exchange Celsius has filed a lawsuit against Tether alleging misappropriation of assets and seeking approximately $3.5 billion in BTC returns, damages, and legal fees. Up front: Tether reports that Celsius, in its lawsuit, seeks the return of approximately $2.4 billion worth of BTC. However, publicly available court documents show that Celsius has asked the court…
The United States Securities and Exchange Commission (SEC) has settled fraud charges with electric vehicle company Ideanomics over financial reporting and “misleading the public about the company’s performance.” According to the SEC website, its investigation revealed that between 2017 and 2019, Ideanomics and several of its senior executives engaged in significant material misrepresentations about the company’s…
Uniswap Labs and Across Protocol have collaborated to introduce ERC-7683, a proposed standard for cross-chain trade execution. The initiative, highlighted in a recent X post by Uniswap Labs, introduces the new standard’s aim to create a unified framework for cross-chain intents and to improve interoperability between decentralized networks. The proposal has been made publicly available for review…
In an announcement aimed at reinforcing financial integrity and improving compliance measures with international sanctions, OKX CEO Star Xu declared that any accounts on the OKX exchange found to be interacting with Tornado Cash would be terminated. The announcement comes in response to escalating concerns about Tornado Cash, a decentralized mixing service that enables users to obfuscate…
Russian President Vladimir Putin approved legislation to reduce its reliance on the United States dollar in international trade. The law will take effect in November 2024 and allow approved mining firms to register through a state database to mine crypto. Small, individual miners can also mine digital currency without officially registering if their energy consumption…
Miner hashprice, a metric that gauges mining profit margins, has fallen below $36 petahash per second (PH/s) — a record low according to a recent Blockbridge report. The storage infrastructure company predicts a dismal outlook for miner profitability if the upcoming difficulty recalculation is not adjusted lower. The report also noted that despite the price…
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