Crypto

Crypto lender Celsius’ top three executives withdrew $42.13 million in cryptocurrency between May and June 2022, right before the company suspended withdrawals and filed for bankruptcy, new court records show. According to a Statement of Financial Affairs filed late Wednesday, former CEO Alex Mashinsky, former CSO Daniel Leon and CTO Read more…

Federal Reserve Chairman Jerome Powell ramped up his criticism of decentralized finance on Tuesday, saying the monetary policy normalization worldwide has “revealed significant structural issues in the DeFi ecosystem” and exposed “conflict of interest,” as he called for more appropriate regulation. “Within the DeFi ecosystem, there are these very significant Read more…

Helium was touted as the best real-world use case of Web3 technology. But as it struggles to generate revenue, a Forbes investigation found that executives and their friends quietly hoarded the majority of wealth at the project’s inception. A review of hundreds of leaked internal documents, transaction data and interviews Read more…

Interpol has issued a red notice for Do Kwon, requesting law enforcement agencies worldwide to search and arrest the Terraform Labs founder whose blockchain startup collapsed earlier this year. The collapse of Terra cryptocurrency (Luna) and the so-called stablecoin TerraUSD (UST) wiped out investors’ $40 billion, prompting an uproar that Read more…

The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar, saying it would help reinforce the U.S. role as a leader in the world financial system. The White House said on Friday that after President Joe Biden issued an executive Read more…

Ethereum’s big software update on Thursday may have turned the second-largest cryptocurrency into a security in the eyes of a top U.S. regulator. Securities and Exchange Commission Chairman Gary Gensler said Thursday that cryptocurrencies and intermediaries that allow holders to “stake” their coins might pass a key test used by Read more…

The moment finally arrived, in the last minutes before midnight on the West Coast on Wednesday. After years of delays, discussions and frantic experimentation, the popular cryptocurrency platform Ethereum completed a long-awaited software upgrade known as the Merge, shifting to a more environmentally sustainable framework. Ethereum is arguably the most Read more…