The United States Attorney’s Office for the Southern District of New York (SDNY) has formed an FTX Task Force to “trace and recover” missing customer funds, as well as handle investigations and prosecutions related to the exchange’s collapse. The announcement came via a statement from U.S. Attorney Damian Williams who is the federal prosecutor in … Read more
According to a revised privacy policy agreement published by ConsenSys on Nov. 23, MetaMask will begin collecting users’ IP addresses and Ethereum wallet addresses during on-chain transactions. However, ConsenSys, the wallet’s creator, explains that the collection of users’ data will only apply if they use MetaMask’s default Remote Procedure Call (RPC) application, Infura. Individuals using … Read more
For decades, banks and insurance firms employed the same mostly static but highly profitable and centralized business models. Also for decades, Big Tech firms such as Facebook, Microsoft, Amazon, Apple and Google have monopolized user data for their profit. However, blockchain projects could significantly challenge Big Tech’s grip on user data. In 2015, the future … Read more
The FTX crisis has escalated into a legal battle between bankrupt crypto exchanges and firms whose assets are stuck on its platform. Before FTX froze assets withdrawal, many crypto firms couldn’t recover their funds from the exchange. As a result, many firms have announced a potential financial crisis if their funds remain unrecovered. Several Users … Read more
Plaid is a fintech company that facilitates communication between financial services apps and users’ banks and credit card providers. In FTX.US’ case, its products enable users to allow FTX.US customers to connect their bank accounts to the FTX app. This would then allow FTX.US to request payments that will be processed by the ACH network. … Read more
A Spanish Twitter user has become the first person in the country jailed for publishing “fake news,” after he claimed that a man seen on video assaulting a woman was a Moroccan rapist. He has also been fined and ordered to “take a course on equality and human rights.” The defendant, who worked in law … Read more
While decentralized finance (DeFi) is expected to be an upgrade to traditional finance mechanisms, some believe that denying users access to decentralized exchanges based on their wallets is a backward move. In a tweet, entrepreneur Brad Mills criticized DeFi for denying users access to decentralized exchanges (DEXs) due to various factors such as location and … Read more
Cryptocurrency exchange FTX took to Twitter to address user complaints surrounding sluggish withdrawals. FTX assured users that everything is running smoothly with the matching engine, although node throughput is limited for Bitcoin (BTC) withdrawals. In the series of tweets, the exchange also addressed stablecoin withdrawals, saying redemptions or creations might be slow until banks open … Read more
(Bloomberg) — DraftKings Inc. plunged Friday as the sports-betting company said its user growth slowed in the third quarter. Most Read from Bloomberg The number of monthly unique paying customers increased to 1.6 million in the quarter, short of the 2 million that analysts had projected. Customer growth was 22% compared with the prior year, … Read more
A cross-chain bridge between BitBTC and the Ethereum layer-2 network Optimism has been able to avoid a potentially costly exploit thanks to the work of an eagle-eyed Twitter user. The custom cross-chain bridge offers a ramp for users to send assets between Optimism’s network and BitAnt’s decentralized finance (DeFi) ecosystem, which includes yield services, NFTs, … Read more