2022 was generally a rough year for digital asset markets. In May, the Terra stablecoin depegged, causing the Terraform Labs ecosystem to disintegrate (and Do Kwon is still on the run as of 12/28/2022). This caused a domino effect leading to the bankruptcy of some large organizations and left others scrambling for bailouts. For a … [Read more…]
U.S. District Judge Ronnie Abrams recused herself from the Sam Bankman-Fried fraud case due to a potential conflict of interest. Her husband is a partner at a law firm named Davis Polk and Waddell, which advised FTX in 2021. The law firm also represented parties who may have a dispute with Sam Bankman-Fried and his … [Read more…]
In a blog post published on December 19, 2022, Visa described a system for automated Ethereum payments using the Layer 2 solution StarkNet. The system will make it possible to set up automated recurring payments using self-custodial wallets. Visa cited anticipated increases in blockchain adoption as one reason for developing a recurring payment system. This … [Read more…]
During a recent creditors’ meeting, FTX management revealed that it is working on consolidating about $1.2 billion in cash into accounts at financial institutions approved by the United States Department of Justice. It already has almost $500 million in U.S. banks and found another $720 million that it will work on consolidating. $130 million in … [Read more…]
Sam Bankman-Fried was arrested in the Bahamas and is likely to be extradited to the United States, where he now faces charges of wire fraud, conspiracy to commit money laundering, and campaign finance violations. He was set to appear before a magistrate judge on Tuesday, local time. The magistrate judge denied him bail during the … [Read more…]
Even before the Merge activated in September 2022, Ethereum stakers have been asking, “When unstaking?” Now Ethereum developers have a tentative answer: As early as March 2023. Withdrawals of staked Ethereum on the Beacon Chain will go live with the next major Ethereum update, known as Shanghai. Ethereum Improvement Proposal (EIP) 4895 describes it as … [Read more…]
Remember the iPod? If you’re used to using Apple’s mobile devices, Ledger’s upcoming hardware wallet is likely to have a familiar look and feel. Ledger hired iPod creator Tony Fadell to help finalize its design. The new Ledger model, named Ledger Stax, uses e-ink technology for its display. It will be capable of displaying the … [Read more…]
A South Korean court has dropped an arrest warrant for a less well-known Terraform Labs co-founder, Daniel Shin. “Considering the attitude toward the investigation, the circumstances, process and contents of the statement, it is difficult to see that there is a risk of destroying evidence or escaping beyond the scope of exercising the right to … [Read more…]
During testimony at a hearing held by the Senate Agriculture Committee, CFTC Chairman Rostin Behnam called for an overhaul of the Digital Commodities Consumer Protection Act (DCCPA) to eliminate any possible gaps. The DCCPA is co-sponsored by Debbie Stabenow (D-MR) and John Boozman (R-AR). Once supported by former FTX CEO Sam Bankman-Fried, the bill would … [Read more…]
The Ethereum Foundation began winding down the Ropsten Testnet and expects to complete the shutdown by the end of December. Major infrastructure providers and most validators have already ceased supporting Ropsten. Etherscan shut down support for Ropsten and Rinkeby in October. The Foundation also plans to retire the Rinkeby Testnet, which does not support the … [Read more…]