Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have officially reached a deal that, if approved by a judge, will bring their years-long legal battle to a close. According to a settlement agreement filed in New York on Thursday, both parties have agreed to a $50 million penalty — a portion of the … Read more
Shares of Coinbase (COIN) fell nearly 3% in post-market trading after it reported a significant drop in revenue in the first quarter of the year, missing analyst estimates, as markets cooled amid economic uncertainty in the U.S. The crypto exchange said it recorded $2 billion in revenue, down from $2.27 billion in the fourth quarter … Read more
You’re swimming in data. You’re creating new data every day. If your health app counts your steps? That’s new data. The Oura ring that’s tracking your bio-metrics? Valuable data. Your social media posts, even the stupid jokes that got zero likes? More data. This is all data that AI companies would love to harvest. You … Read more
NEW YORK, NY — Alex Mashinsky, the founder and former CEO of bankrupt crypto lending platform Celsius Network, was sentenced to 12 years in prison on Thursday for fraud. Judge John Koeltl of the Southern District of New York (SDNY) handed down the sentence, saying the 12 years — composed of a 120-month sentence to … Read more
Tech giant Meta (META) is looking to introduce a stablecoin to manage payouts, Fortune reported, citing five sources familiar with the matter. Meta has also hired a vice president of product, Ginger Baker, who has crypto experience to help with its stablecoin efforts, Fortune said. The company’s foray back into crypto is worth noting, given … Read more
Coinbase’s (COIN) $2.9 billion acquisition of Deribit will be a tipping point for the company, pushing the U.S.-based exchange into direct competition with global heavyweights like Binance, Wall Street analysts wrote on Thursday. The massive deal is more than just a platform expansion; it’s a paradigm shift for the exchange and trading industry. According to … Read more
The U.S. legislation that would establish stablecoin regulation failed to take a huge step closer to reality on Thursday as a rush of Democratic resistance kept the bill from moving into a debate phase, which would have been the path toward an eventual vote on passage. The crypto industry has been closely watching the Senate, … Read more
Bitcoin (BTC) is poised to hit a new record high, with investment flows now the dominant market driver, according to Standard Chartered (STAN). U.S. spot bitcoin exchange-traded funds (ETFs) have seen $5.3 billion in inflows over the past three weeks, the investment bank said in emailed comments Thursday. Adjusting for hedge fund basis trades, net … Read more
The Senate’s Republican majority leader, John Thune, took to the chamber floor on Thursday morning to make a case for moving forward with stablecoin legislation — marking his first significant foray into the topic of crypto as Republicans grow frustrated with keeping what was once a bipartisan effort on track. “Stablecoins should be made in … Read more
Bitcoin is back in six figures, continuing yet another of its famous zigs when most were expecting a zag. To review, the world’s largest crypto first pushed through $100,000 in December as it rallied hard following Donald Trump’s November election victory. The price eventually rose above $109,000 in the hours prior to the Trump inauguration … Read more
