The U.S. Securities and Exchange Commission (SEC) has slapped Galois Capital Management LLC with a $225,000 fine for falling short of the Custody Rule laid out in the Investment Advisers Act. The crypto-centric hedge fund and advisory firm was also accused of misleading investors about the redemption process.
SEC Charges Galois Capital
According to the SEC’s investigation, Galois Capital, based…
Indian crypto exchange Wazirx has accelerated Phase 2 of INR withdrawals after a cyberattack on July 18. Initially scheduled for Sept. 9, eligible users can now withdraw up to 66% of their INR balances. However, crypto trading on the platform will not resume for another six…
Currently, the total value locked (TVL) in decentralized finance (defi) stands at $82.2 billion, with Ethereum hosting a commanding 57.24% of that amount. Hot on its heels, Tron and Solana take the second and third spots for the largest TVLs today.
Ethereum Reigns Supreme in…
Venezuelan President Nicolas Maduro discussed the possible future of the national cryptocurrency system following the so-called PDVSA-Crypto scheme, which resulted in the loss of $20 billion in unaccounted oil sales paid in crypto. Maduro stated that the country needed to retake the crypto path but gave no indications regarding the revival of the national cryptocurrency asset, the…
Coinbase Legal Chief Criticizes SEC's Vague Position on FTX Plan — Says Investors Deserve 'Way Better'
September 3, 2024
Coinbase’s chief legal officer has criticized the U.S. Securities and Exchange Commission (SEC) for its ambiguous position regarding FTX’s proposal to repay creditors using stablecoins or other cryptocurrencies. Although the SEC did not explicitly deem these transactions…
South Korean police arrested a man in his 40s for orchestrating a cryptocurrency scam that defrauded 158 investors of 16 billion won ($12 million). Operating from November 2021 to June 2022, he promised an 18% monthly return on investments in a fake cryptocurrency scam…
Court Approves BTC Loan for Bankrupt Bitcoin Mining Firm
September 2, 2024
Rhodium Encore LLC, a bankrupt bitcoin mining company, has received court approval for a unique debtor-in-possession financing plan that allows borrowing in either U.S. dollars or bitcoin. Galaxy Digital Holdings Ltd., a blockchain firm led by Mike Novogratz, has offered to provide Rhodium with a loan of either $30 million in dollars or 500 bitcoin. The dollar loan carries a 14.5% interest rate…
Coinbase Reports Its First AI-to-AI Crypto Transaction
September 2, 2024
Coinbase CEO Brian Armstrong announced the platform’s first AI-to-AI crypto transaction, highlighting a new application of digital currency by artificial intelligence agents. Armstrong believes this advancement will enhance AI’s capacity to independently obtain resources…
The Bitcoin layer two (L2) network Stacks protocol has completed its Nakamoto upgrade, finalizing a series of enhancements that began in April 2024. This latest phase, delivered on August 28, 2024, introduces stronger transaction finality guarantees, reduces miner…
There’s a new meme coin making waves, and it’s caught the attention of industry experts.
Crypto All-Stars (STARS) is trying to break the mold of typical meme tokens.
Instead of just depending on a cute mascot, it’s aiming to bring something fresh to the table – a unique staking platform called the “MemeVault.”
MemeVault – The Unified Hub for All Your Favorite Meme Coins
So, what is…
