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2024-06-07 22:04:43 New York Files $1 Billion Fraud Lawsuit Against Crypto Miner and Exchange

New York Attorney General Letitia James has filed a billion-dollar lawsuit against crypto exchange NovaTech and AWS Mining for defrauding hundreds of thousands of investors, including 11,000 New Yorkers, through illegal pyramid schemes. They targeted immigrant and religious communities, promising high returns and using social media and WhatsApp for scams. James seeks to ban both firms from operating in New York. Open / Comment

2024-06-06 23:18:01 Alchemy debuts one-stop shop for rollup development

Blockchain infrastructure designer Alchemy has launched a development kit rollup-centric innovation in the crypto ecosystem.

Alchemy’s introduction of Alchemy Rollups represents a notable step forward in the crypto ecosystem. It will offer developers a comprehensive toolkit for rollup-centric development and aim to streamline the process of developing, optimizing, launching, and growing layer-2 blockchains with a focus on scale, speed, and cost-efficiency.

According to product lead Monica Garde, Alchemy’s offering affords developers the same “battle-tested infrastructure” that powers some of the most trusted networks in decentralized finance (DeFi). “Running a node is not that difficult; the hard part is doing it reliably, and at scale,” said Garde.

Rollups, praised by Ethereum co-founder Vitalik Buterin as crucial for scaling DeFi and improving dapp efficiency, are designed to alleviate congestion on layer-1 networks. Alchemy Rollups will initially integrate with Arbitrum Orbit and Optimism Stack framewors.

Developers can either leverage zero-knowledge (ZK) proofs or optimistic systems when building rollup-centric chains.

“We plan to explore ZK frameworks later in the year”, Garde told crypto.news over email. Open / Comment

2024-06-05 23:27:08 Binance Coin (BNB) Hits New All-Time High of $716 on Binance, Currently Trading at $705.5 Open / Comment

2024-06-04 22:24:16 StarkWare Launches $1M Research Fund for ZK Bitcoin Scaling

StarkWare plans to scale Bitcoin using zero-knowledge (ZK) technology, supported by a $1 million research fund. The initiative aims to scale both Bitcoin and Ethereum using STARK cryptography, enabling everyday micropayments and supporting global Bitcoin transactions. StarkWare emphasizes their focus on scaling, not just Ethereum. Open / Comment

2024-06-03 23:07:04 Australia’s first spot Bitcoin ETF to go live on Tuesday

The Monochrome Bitcoin ETF will begin trading on the Cboe Australia exchange.

The ETF, listed as IBTC, will have a management fee of 0.98%. Monochrome Asset Management, the issuer, provides the fund to allow investors to access Bitcoin within a regulated framework.

This framework, overseen by the Australian Securities & Investments Commission (ASIC), ensures investor protection and compliance with financial regulations.

The company stated that investors have legal rights to their Bitcoin (BTC) in the fund and can request withdrawals. This is the first and only ETF that holds Bitcoin directly in Australia. Cboe will be the first exchange in Australia to offer a Bitcoin ETF, ahead of the ASX, which also aims to approve spot Bitcoin ETFs by the end of the year. Open / Comment

2024-06-02 23:44:40 Google and Magic Leap Join Forces to Develop Metaverse Goggles, Overcoming Past Setbacks

Magic Leap has partnered with Google to develop new extended reality technologies, aiming to combine Magic Leap's optics capabilities with Google's infrastructure. This partnership could bring new competition to the metaverse hardware market currently dominated by Meta and Apple. Open / Comment

2024-06-01 16:06:08 Franklin Templeton Revises Spot Ethereum ETF Filing, Sets 0.19% Fee

Franklin Templeton filed for a spot Ethereum ETF with a 0.19% sponsor fee, the same as its spot Bitcoin ETF. This move follows the firm's successful Bitcoin ETF launch and reflects a broader trend of institutions offering Ethereum ETFs. The SEC instructed issuers to file amended S-1 forms by Friday, but it may take a few weeks for these products to begin trading. Open / Comment

2024-05-31 19:15:53 Vitalik Buterin Donates 30 ETH to Juicebox: Free Alexey & Roman Today

Ethereum co-founder Vitalik Buterin donated 30 ETH (approximately $113,000) to Juicebox: Free Alexey & Roman to support the legal defense of Tornado Cash developers Alexey Pertsev and Roman Storm. The fund has raised around 559.81 ETH in total. Open / Comment

2024-05-30 22:06:42 Hester Peirce proposes for cross-border digital securities sandbox

SEC Commissioner Hester Peirce proposed a cross-border digital securities sandbox in response to a joint consultation by the Bank of England and the Financial Conduct Authority (FCA).

The proposal aims to foster innovation and enhance regulatory oversight by allowing firms in both the United Kingdom and the United States to experiment with distributed ledger technology (DLT) under a unified regulatory framework.

“This joint proposal reflects a commendable commitment to incorporating innovation into the financial system,” Peirce stated in the response.

She advocated for including US-domiciled firms in the UK’s digital securities sandbox (DSS), suggesting that expanded eligibility would promote cross-border innovation.

Peirce emphasized the benefits of a cross-border sandbox, which allows firms to operate under the same regulatory conditions in both jurisdictions. She also mentioned the success of the FCA’s sandbox, where firms have raised more capital and refined their business models through real-world testing. Open / Comment

2024-05-29 22:49:36 Ripple Contributes Another $25 Million to Pro-Crypto Political Group Fairshake

Ripple announced a $25 million contribution to the federal super PAC Fairshake, supporting pro-crypto political candidates for the 2024 U.S. elections. This follows a similar $25 million contribution made last year. Ripple criticized the SEC's enforcement-based approach to crypto regulation and emphasized the need for positive regulatory changes in the U.S. Open / Comment