The European Systemic Risk Board (ESRB) said the crypto sector does not pose any systemic risks to the real economy for now as its current links to the traditional financial sector are not “significant.” The ESRB made the statement in its latest report on the “systemic implications” of crypto and…

Sam Altman has successfully raised $115 million in a Series C funding round for Worldcoin, Reuters reported May 25. Blockchain Capital led the raise, with Andreessen Horowitz, Bain Capital Crypto, and Distributed Global joining the round as well. The OpenAI CEO launched Worldcoin in 2021 with the ambitious goal of…

Unbanked, a cryptocurrency card and trading platform, said May 25 that it would be winding down its services due to harsh U.S. regulations. Regulations affected funding Unbanked cited regulations as the primary reason for its shutdown. The firm asserted that regulators in the U.S. are “actively trying to stop companies…

Digital Currency Group (DCG) will close its institutional trading platform, TradeBlock, by the end of the month, Bloomberg reported May 25. Crypto market challenges DCG’s decision to close TradeBlock comes amidst a harsh crypto market. One DCG spokesperson cited various challenges, stating: “Due to the state of the broader economy…

What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more › Connected to Alpha Welcome! 👋 You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below. Oops…you must lock a minimum of 20,000 ACS If you don’t…

Executives from Tether and Blockchain.com both commented on the U.S. government’s potential upcoming debt default on May 25. Tether is not at risk, CTO says Tether CTO Paolo Ardoino said that it is unlikely that the U.S. will default on its debt in the coming weeks. He said on The…

Crypto investment platform Morgan DF Fintoch allegedly stole $31.6 million worth of user funds in an apparent exit scam on May 22, on-chain sleuth Zachxbt reported May 24. On-chain data shows the funds — mainly USDT on BSC — were bridged to multiple addresses on TRON and Ethereum during the…

Algorand Foundation CEO Staci Warden played down the significance of ALGO’s underwhelming performance, saying, “We don’t think about price.” In a recent interview with Real Vision Crypto, Warden brushed aside the relevance of price, instead highlighting the Foundation’s success in attracting developers to the ecosystem and ensuring their success. “We…

Hardware wallet provider Trezor reported a 900% week-on-week growth in its sales volume, according to May 25 press statement shared with CryptoSlate. This surge comes in the wake of Ledger’s seed recovery feature that drew stiff opposition from the crypto community. According to the press statement, Trezor CEO Matěj Žák…

Quick Take Last October, U.K. Prime Minister Liz Truss introduced a “mini-budget” that triggered a pension fund crisis. The mini-budget episode sent shock waves around the UK markets and the GBP to 1.11 against USD. In the wake of new inflation numbers yesterday, U.K. government yields have soared even higher.…