Polygon CEO Marc Boiron has riled up debate on X over the weekend after arguing that layer-3 networks aren’t necessary to scale Ethereum and exist only to rob the mainnet of value. On April 1, the Polygon CEO said that Polygon Labs, a layer-2 scaling network for Ethereum, does not work on layer 3s because…
The entity behind layer-1 blockchain Tron has asked a New York federal court to dismiss a United States Securities and Exchange Commission lawsuit against it, arguing the U.S. regulator targeting “predominantly foreign conduct.” “The SEC is not a worldwide regulator,” and its effort to apply U.S. security laws to “predominantly foreign conduct” goes “too far,”…
Roman Storm, co-founder of cryptocurrency mixer Tornado Cash, has filed a motion to dismiss all three charges against him, alleging he operated a money laundering business and violated the International Emergency Economic Powers Act. “By no stretch can Mr. Storm be deemed to have conspired to launder funds,” Storm’s lawyers stated in a March 29 filing to…
The cryptocurrency industry saw a 23% decline in losses due to hacking and scams in the first quarter of 2024 compared to 2023, according to a March 28 research report by blockchain security firm Immunefi. According to the report, the total amount lost to hacking and fraud incidents in Q1 of 2024 amounted to approximately $336.3 million,…
Coinbase Ethereum layer-2 network Base has shattered its own trading volume record within a 24-hour period on decentralized exchanges (DEX), jumping up approximately 25% compared to the previous day, surpassing the $1 billion mark. On March 30, Base recorded $1.21 billion in DEX trading volume, up 25% from the previous day’s $959.63 million, as per…
Grayscale Investments has announced an investment fund tailored for sophisticated clients eager to expose their portfolios to income generated from staking cryptocurrency tokens. According to a recent statement, the Grayscale Dynamic Income Fund (GDIC) is only available to clients holding more than $1.1 million assets under management (AUM), or with a net worth of more than…
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