TL;DR Breakdown Roman Storm has pleaded not guilty to conspiracy charges to conduct money laundering in a U.S. court. Protests in support of the accused have erupted, especially in Amsterdam. The U.S. Treasury Department had previously flagged Tornado Cash for laundering up to $7 billion in cryptocurrencies. Description Roman Storm, the co-founder of the cryptocurrency-mixing platform Tornado Cash, recently entered a not-guilty plea in a U.S. court. Storm and co-founder Roman Semenov face charges of conspiracy to conduct money laundering. The charges were brought against them last year, carrying a maximum sentence of 20 years. The case has garnered significant attention within the … Read more Roman Storm, the co-founder of the cryptocurrency-mixing platform Tornado Cash, recently entered a not-guilty plea in a U.S. court. Storm and co-founder Roman Semenov face charges of conspiracy to conduct money laundering. The charges were brought against them last year, carrying a maximum sentence of 20 years. The case has garnered significant attention within the legal framework and among key players in the cryptocurrency industry. Many believe that the founders are being unfairly targeted…

TL;DR Breakdown Binance has taken a significant step in addressing the fallout from the Xirtam rug pull incident by introducing an automated smart contract to facilitate the reimbursement of affected users.  Binance acted swiftly upon receiving reports of the Xirtam rug pull, taking immediate action to freeze the suspected fraudulent funds within its platform.  Xirtam, which was built on the Arbitrum blockchain, managed to raise a significant sum of approximately 1,909 Ether, equivalent to around $3.2 million, through a series of fundraising rounds in April.  Description Binance, a prominent cryptocurrency exchange, has taken a significant step in addressing the fallout from the Xirtam rug pull incident by introducing an automated smart contract to facilitate the reimbursement of affected users. This development was announced on September 6th, marking a proactive response to the unfortunate events surrounding Xirtam. The process for users affected … Read more Binance, a prominent cryptocurrency exchange, has taken a significant step in addressing the fallout from the Xirtam rug pull incident by introducing an automated smart contract to facilitate the reimbursement of affected users. This development was…

Description Amid the growing political turbulence and societal divisions of our age, a new player has entered the arena: cryptocurrencies, or more specifically, Central Bank Digital Currencies (CBDCs). As nations from China to Nigeria embrace digital currencies, their true implications in the modern world raise eyebrows and fuel conspiracy theories. From Wonkish Debate to Political Hot … Read more Amid the growing political turbulence and societal divisions of our age, a new player has entered the arena: cryptocurrencies, or more specifically, Central Bank Digital Currencies (CBDCs). As nations from China to Nigeria embrace digital currencies, their true implications in the modern world raise eyebrows and fuel conspiracy theories. From Wonkish Debate to Political Hot Potato Just a handful of years ago, CBDCs were largely confined to the hallowed halls of financial institutions and policy discussions. Their purpose seemed simple enough: a digital representation of tangible currency, backed not by private companies but by the weight of national central banks. Fast forward to today, and CBDCs have morphed into political footballs. Across the globe, over 100 nations are contemplating the CBDC…

TL;DR Breakdown Google has updated its advertising policy to allow ads for blockchain-based non-fungible token (NFT) games starting September 15, 2023. The new policy permits ads for games that offer in-game purchases but continues to ban ads for games that involve gambling with NFTs. Description In a significant policy update, Google has announced that it will permit advertisements for blockchain-based non-fungible token (NFT) games, effective September 15, 2023. The move marks a departure from the tech giant’s previous stance, which had been more restrictive towards cryptocurrency-related advertising. A shift in policy The updated guidelines on Google’s support page specify that … Read more In a significant policy update, Google has announced that it will permit advertisements for blockchain-based non-fungible token (NFT) games, effective September 15, 2023. The move marks a departure from the tech giant’s previous stance, which had been more restrictive towards cryptocurrency-related advertising. A shift in policy The updated guidelines on Google’s support page specify that NFT games meeting certain criteria will be allowed to advertise on the platform. These games must not promote gambling-related content and must…

TL;DR Breakdown Riot Platforms made headlines in August by reporting a decrease in the number of Bitcoins mined compared to the previous month, but the real eye-popping figure was the $31 million worth of power credits they received. Riot Platforms shared key insights into their power strategy in a presentation released on September 6th a strategy which hinges on three distinct mechanisms, all intricately tied to their long-term contract with ERCOT. Description In the world of Bitcoin mining, Riot Platforms made headlines in August by reporting a decrease in the number of Bitcoins mined compared to the previous month, but the real eye-popping figure was the $31 million worth of power credits they received. CEO Jason Les underscored this astonishing achievement, noting that the credits were equivalent … Read more In the world of Bitcoin mining, Riot Platforms made headlines in August by reporting a decrease in the number of Bitcoins mined compared to the previous month, but the real eye-popping figure was the $31 million worth of power credits they received. CEO Jason Les underscored this astonishing achievement, noting…

Description The stage is set as China and Japan craft strategic maneuvers to mitigate the overbearing strength of the US dollar. Their determined tactics are in response to an intimidating rally by the greenback that menacingly shadows their national currencies, potentially leading them to unprecedented dips. Asian Titans Brace for Economic Upheaval Asia’s heavyweights, China and … Read more The stage is set as China and Japan craft strategic maneuvers to mitigate the overbearing strength of the US dollar. Their determined tactics are in response to an intimidating rally by the greenback that menacingly shadows their national currencies, potentially leading them to unprecedented dips. Asian Titans Brace for Economic Upheaval Asia’s heavyweights, China and Japan, are no strangers to currency challenges. Historically, a subdued renminbi and yen have paved the way for a thriving export industry in these nations. Fast forward to the present day, and the picture looks rather different. This year alone has witnessed the renminbi plummeting by 5.6% against the dollar, while the yen’s decline is even steeper at 11%, floating past ¥147. The culprits? The commanding…

TL;DR Breakdown Federal authorities have frozen the financial assets of Alex Mashinsky, the former CEO of cryptocurrency lending platform Celsius. The U.S. District Court for the Southern District of New York unsealed a restraining order on September 5. Celsius has entered into a non-prosecution agreement with the DOJ and is under new management. Description Federal authorities have escalated actions against Alex Mashinsky, the embattled former CEO of Celsius (CEL), a once-prominent cryptocurrency lending platform. On September 5, the U.S. District Court for the Southern District of New York unsealed a restraining order that froze Mashinsky’s financial assets. This move comes as part of an ongoing criminal probe led by … Read more Federal authorities have escalated actions against Alex Mashinsky, the embattled former CEO of Celsius (CEL), a once-prominent cryptocurrency lending platform. On September 5, the U.S. District Court for the Southern District of New York unsealed a restraining order that froze Mashinsky’s financial assets. This move comes as part of an ongoing criminal probe led by the Department of Justice (DOJ) and follows allegations of securities fraud and market…

TL;DR Breakdown Genesis Global Capital has initiated legal proceedings against Digital Currency Group (DCG), alleging that DCG has failed to repay several loans amounting to hundreds of millions of dollars. DCG has responded to these allegations by stating that they are working to document a forbearance agreement reached in principle between DCG, the UCC (Unsecured Creditors Committee), and Genesis. Description Genesis Global Capital has initiated legal proceedings against Digital Currency Group (DCG), alleging that DCG has failed to repay several loans amounting to hundreds of millions of dollars, all of which were due in May. According to Genesis’s legal representatives, the genesis of this financial dispute dates back to 2019 when both Genesis and DCG … Read more Genesis Global Capital has initiated legal proceedings against Digital Currency Group (DCG), alleging that DCG has failed to repay several loans amounting to hundreds of millions of dollars, all of which were due in May. According to Genesis’s legal representatives, the genesis of this financial dispute dates back to 2019 when both Genesis and DCG entered into a “master loan agreement.” This…

Description Once the domain of policy enthusiasts, Central Bank Digital Currencies (CBDCs) are now front and center in the world of politics and conspiracy theories. While the technicalities of these digital currencies differ across borders, the core idea remains: a digital representation of physical cash, regulated by central banks. But as governments worldwide explore the benefits … Read more Once the domain of policy enthusiasts, Central Bank Digital Currencies (CBDCs) are now front and center in the world of politics and conspiracy theories. While the technicalities of these digital currencies differ across borders, the core idea remains: a digital representation of physical cash, regulated by central banks. But as governments worldwide explore the benefits and challenges of CBDCs, there’s a growing camp questioning the implications of such a system, especially when it comes to citizen rights and government oversight. CBDCs: A Blessing or a Curse? CBDCs are no longer the obscure topic of a few. Their political relevance has surged, with some individuals fearing that they’re a pathway to an Orwellian future where governments wield excessive control over citizen finances….

TL;DR Breakdown Philip Jefferson has been confirmed as the next vice chair of the Federal Reserve by the U.S. Senate with an 88 to 10 vote. Jefferson’s confirmation follows Lael Brainard’s resignation earlier this year. Jefferson’s vice chair role is in addition to his term as a governor, ending in 2036. Description The Senate has confirmed Philip Jefferson as the next vice chair of the Federal Reserve. The decision, which came with an overwhelming majority of 88 to 10 votes on September 6, underscores the evolving dynamics of the country’s monetary policy leadership. Jefferson’s confirmation follows the resignation of Lael Brainard earlier this year. U.S. President Joe … Read more The Senate has confirmed Philip Jefferson as the next vice chair of the Federal Reserve. The decision, which came with an overwhelming majority of 88 to 10 votes on September 6, underscores the evolving dynamics of the country’s monetary policy leadership. Jefferson’s confirmation follows the resignation of Lael Brainard earlier this year. U.S. President Joe Biden had previously expressed his intention in May to nominate Thomas Jefferson to fill the…