Bankrupt crypto exchange FTX and crypto lender Genesis have reached an agreement in principle to resolve the claims brought by FTX in its bankruptcy case. On July 27, legal counsels for both firms sent a letter to bankruptcy Judge Sean Lane stating that they had agreed to a settlement. However,…
A former product director at Twitter, now X, has shed new light into the once inner workings of the social media firm, along with some of the peculiarities that come with working under entrepreneur Elon Musk. In a lengthy 2,400-word tweet and accompanying video, Crawford described the pre-Musk Twitter as…
The U.S. Securities and Exchange Commission (SEC) issued a stern warning to accounting firms on July 27, outlining the potential risks and liabilities of serving clients in the rapidly evolving crypto industry. Paul Munter, Chief Accountant to the SEC, said that many crypto companies have wrongly stated that certain non-audit…
United States-based researchers have claimed to have found a way to consistently circumvent safety measures from artificial intelligence chatbots such as ChatGPT and Bard to generate harmful content. According to a report released on July 27 by researchers at Carnegie Mellon University and the Center for AI Safety in San…
The House Financial Services Committee has advanced another two landmark crypto bills previously under consideration — with one aiming to better regulate stablecoin issuers and another seen as positive for crypto self-custody in the United States. On July 28 the Committee said the Clarity for Payment Stablecoins Act and the…
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Venture capital giant Sequoia Capital reportedly downsized its cryptocurrency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players. According to a July 27 Wall Street Journal report, the tech-focused VC firm told investors in March it would reduce its Sequoia…
Crypto fund manager Grayscale is urging the Securities and Exchange Commission (SEC) to approve all proposed spot Bitcoin (BTC) exchange-traded funds (ETFs) at the same time to avoid one having an advantage. A July 27 post by Grayscale chief legal officer Craig Salm said its legal team submitted a letter…
U.S. prosecutors have withdrawn political campaign financing charges against former FTX CEO Sam Bankman-Fried, according to a July 27 court filing. The decision to drop the charges stems from the terms of the United States extradition treaty with the Bahamas, which stipulate that the government would not prosecute Bankman-Fried on…
The upcoming $2 billion Bitcoin (BTC) monthly options expiry on July 28 could potentially establish $29,500 as a support level. Some argue that the recent U.S. Federal Reserve interest rate increase to 5.25% had a detrimental effect on risk-on assets like cryptocurrencies. However, Bitcoin bulls believe that the full impact…