Decentralized social media protocol Farcaster has raised $150 million in a funding round led by Paradigm with participation from venture capital fund 16z crypto, Haun, USV, Variant, Standard Crypto and more. Farcaster launched by former Coinbase alumni, Dan Romero and Varun Srinivasan, has emerged as a prominent player among several burgeoning Twitter alternatives, both on-chain…
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Uniswap Labs filed a 40-page response on Tuesday to the SEC’s Wells Notice, arguing against a potential lawsuit and urging the agency to drop the matter. It comes after the agency raised concerns a few weeks ago that Uniswap’s operations might violate US securities laws. The decentralized crypto exchange is now explaining in detail why…
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According to the U.S. Department of Justice (DOJ), the operator of the darknet marketplace Incognito was apprehended at John F. Kennedy Airport on May 18. Law enforcement officials claim Rui-Siang Lin allegedly constructed the DNM and facilitated the sale of over $100 million worth of illegal drugs through the platform. Federal Authorities Nab Alleged Darknet…
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The current Bitcoin bull market is falling short of the highs of 2017, Russian experts claimed on May 20. The comments came in a Bitcoin- and crypto-themed report from the Roscongress Foundation, one of Russia’s biggest development-focused NGOs and conference organizers. ‘Bitcoin Bull Market Fever Will Falter’ – Experts Weigh in The report’s authors claimed…
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On May 21, 2024, Hex Trust Group announced the introduction of a native stablecoin, USDX, for the Flare network. Hex Trust also revealed that a Clearpool vault, enabling holders to earn a real-world yield, will debut alongside USDX. Hex Trust’s USDX Stablecoin and Clearpool Vault Aim to Enhance Flare’s Defi Ecosystem Founded in 2018, the…
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Taiwanese national and dark web drug dealer Rui-Siang Lin, ‘Pharaoh’, who allegedly made more than $100 million in cryptocurrency sales of illegal narcotics, has been arrested by U.S. authorities. Lin used the identity “Pharoah” to operate the online “Incognito Market” for nearly four years and was arrested at New York’s John F. Kennedy Airport on…
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Former Congressman Kendrick Meek (D-Fla.) is hopping on board Coinbase’s global advisory council, The Hill reported on Monday. Faryar Shirzad, Coinbase’s chief policy officer, welcomed Kendrick for his experienced leadership, noting its importance in updating the system, especially with 52 million Americans diving into the crypto economy. Meek’s appointment to the council comes just before the…
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New York Attorney General announced it has secured $2 billion from the bankrupt cryptocurrency firm Genesis Global to help pay back defrauded victims. In an announcement, the New York Attorney General said the settlement would be used to form a “victim’s fund” to help defrauded investors. This will include payouts to at least 29,000 New…
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South Korean analysts think new challenges await the “next generation” of stablecoins, as the industry continues to develop. The use of algorithms in stablecoin development, they say, will present new “risks” for token holders. And experts are still unconvinced by their algorithmic designs. The claims came in a report from researchers at the South Korean…
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With bitcoin’s price up 6.8% from last week, a dormant bitcoin address from 2013 became active for the first time in over 11 years, transferring 114.42 bitcoins valued at $7.67 million. Sleeping Bitcoin Wallet Awakens After 11 Years, Moves 114 Bitcoins April and May have seen fewer awakenings of long-dormant bitcoin addresses, but some noteworthy…
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