Top stories
SEC Charges Justin Sun, Issues Coinbase Wells Notice
The U.S. Securities and Exchange Commission sued Justin Sun Wednesday on allegations of selling and airdropping unregistered securities, fraud and market manipulation.
The SEC sent a Wells notice to Coinbase this week regarding some of their digital assets, Coinbase Earn, Coinbase Prime, and Coinbase Wallet.
Terraform Labs Founder Do Kwon Arrested in Montenegro
Do Kwon, the former crypto mogul responsible for the $40 billion downfall of two digital currencies in 2022, was arrested. The online community has been abuzz with photos and videos of Kwon's arrest.
Nasdaq Eyes Crypto Custody Launch by End of Second Quarter
Nasdaq Inc. expects its custody services for digital assets to launch by the end of the second quarter as it joins a growing pool of traditional financial firms that could fill the role of crypto middlemen following a spate of bankruptcies in the industry.
Hindenburg Research Blasts Jack Dorsey's Block
Hindenburg Research, a financial research firm, has issued a report claiming that Jack Dorsey’s Block, formerly known as Square, has facilitated fraud for criminals, allowing them to conduct criminal activities using the platform.
Tether Says It Has Around $1.6 Billion in Excess Reserves
Tether’s chief technology officer, said the company estimates that the excess reserves will increase by $700 million in the current quarter, which is not yet over. That would take Tether’s excess reserves to $1.66 billion. And it would be the first time Tether crosses the $1 billion mark.
Global regulations
French Lawmakers Agree to Ban Crypto Influencer Promotions
French social media influencers wouldn’t be allowed to hawk unlicensed crypto products under plans voted on by lawmakers on a key committee Wednesday.
U.S. IRS Seeks to Tax NFTs Like Other Collectibles
The U.S. Internal Revenue Service is considering whether to tax non-fungible tokens (NFTs) on a par with other collectibles such as stamps, works of art and fine wine.
White House Report Says Crypto Doesn’t Have Fundamental Value
In a massive, 513-page annual economic report, the White House downplayed the significance of cryptocurrencies, highlighting their negative aspects and describing them as risky for both consumers and the entire U.S. financial system.
Australia Reportedly Asks Banks To Report on Crypto
The Australian Prudential Regulation Authority (APRA) has started requesting banks to declare their exposures to startups and crypto-related companies, the Australian Financial Review reported on March 21.
Payment Restriction in EU Anti-Money Laundering Bill Irks Crypto Industry
Policymakers hope that they can close a loophole for untraceable transactions by prohibiting payments over a €1,000 ($1,070) threshold from unregulated crypto payment services providers operating in the European Union.
Crypto weekly price action
Research and technology
How Effective Is GPT for Auditing Smart Contracts?
With the recent release of GPT-4, can it be applied to auditing blockchain and Solidity smart contracts? Based on this question, we conducted various feasibility tests.
Secure Smart Contract Programming in FunC
We’ll go through a couple of the most interesting features of the TON blockchain, then we’ll go through a list of best practices for developers programming smart contracts in FunC.
In this article, we’ll define what these two new terms—cross-chain and multi-chain mean and outline their differences and distinct benefits.
Choosing the Right Crypto Wallet
In this comprehensive guide, we will explore the differences between custodial and non-custodial wallets and the benefits of custodial wallets.
Fundraising and investment
Trading Platform eToro Raises $250M After Terminating SPAC Deal
Trading platform eToro has secured $250 million in funding at a $3.5 billion valuation. Participants in the round include ION Group, SoftBank Vision Fund 2, Velvet Sea Ventures, and some existing investors.
Character AI Receives $150M Funding from a16z and Others
The series A funding round also included money from Nat Friedman, A Capital, SV Angel and Elad Gil.
Germany-based Fintech Raisin Raises EUR 60 Mln in Series E Funding
The money comes from M&G’s Catalyst, a USD 6 billion private assets fund from the asset management giant as well as existing investor Goldman Sachs and an unnamed financial institution.
Anonymous DAO Tomi Raises $40M for ‘Surveillance-Free’ Internet
The funding round was led by venture firms DWF Labs, Ticker Capital and Piha Equities, as well as Japanese crypto investor Hirokado Kohji.
CCP Games Raises $40M for Blockchain-Based Game Set in EVE Online Universe
The funding round was led by Andreessen Horowitz, and featured several other investors, including Nexon and BITKRAFT.
Multi-Chain Wallet BitKeep Raises $30M at $300M Valuation
Bitget announced a $30 million investment into multi-chain wallet BitKeep at a $300 million valuation. The deal will see Bitget become the controlling shareholder of BitKeep and allow the latter to "access to the exchange's proven technology and security capabilities in the exchange domain.
Viral Quotes
"Bitcoin is a hedge against a ‘domino’ run on the banks and on poor over-controlling governance."
— Tim Draper, Billionaire venture capitalist
"Trust and confidence are earned over many years, but can be wiped out in a few days. I fear we are heading for a train wreck."
— Bill Ackman, Billionaire and CEO of Pershing Square Capital Management
"Fully integrating a digital currency may improve household welfare, but banking sector stability could suffer."
— Office of Financial Research, United States Treasury
"In addition to the decentralized custody and control of money, it has been argued that crypto assets may provide other benefits, such as improving payment systems, increasing financial inclusion, and creating mechanisms for the distribution of intellectual property and financial value that bypass intermediaries. So far, crypto assets have brought none of these benefits."
— Economic Report of the President
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