Author: Coindesk
In 2020, the Financial Crimes Enforcement Network proposed imposing know-your-customer requirements on unhosted wallets, drawing immense backlash from the crypto industry. This week, the Treasury Department formally withdrew the proposal. Read the full article here
“For us, why we’re very excited to have Franklin Templeton’s Benji app and platform deployed on Avalanche is really twofold,” said Morgan Krupetsky, Head of Capital Markets and Institutions at Ava Labs. “On the one hand, the money market funds contract in and of itself and potentially as a payment mechanism represents a foundational and fundamental piece to a broader tokenized asset ecosystem and capabilities.” Read the full article here
“NEAR validators no longer have to maintain the state of a shard locally and can retrieve all the information they need to validate state changes, or ‘state witnesses,’ from the network,” according to the press release. “This both improves single-shard performance as well as adds capacity for more shards on the network.” Read the full article here
The success of stablecoin issuers like Tether, whose USDT is the largest by market cap, and Circle, producer of the No. 2, USDC, have focused attention on the industry and seeded a new crop of dollar-pegged tokens. Those tokens are generally backed by yield-generating reserves, typically U.S. Treasury bills. Read the full article here
According to its website, Worldcoin, a crypto startup founded by OpenAI’s Sam Altman, is currently collecting data of individuals with its Orb device in 25 locations in Colombia, including the capital, Bogota, and six other cities, such as Medellin, Cartagena, and Barranquilla. Read the full article here
Michelle Bond, who once ran a Washington-based crypto advocacy group and had served as a U.S. Securities and Exchange Commission lawyer, was indicted in federal court for taking illegal campaign contributions during her 2022 run for Congress, and court documents detail how a river of cash came through her former FTX executive boyfriend. Read the full article here
Take Nigeria, for instance, where Tigran Gambaryan, an American employee of Binance, is currently detained. Nigeria claims, without evidence, that crypto was responsible for devaluing the naira and law enforcement there has accused Gambaryan of money laundering and tax evasion. According to the BBC, Nigeria has asked for $10 billion in return for his release, which, frankly, sounds a lot like a ransom demand. Read the full article here
Taylor founded CluCoin in the spring of 2021, marketing the project to his “large Internet following” as a streamer as a way to fund charities. After CluCoin’s subsequent ICO that May, the project’s trading volume and value declined “precipitously,” according to court documents, prompting Taylor to steer CluCoin “away from its original charity focus.” Read the full article here
“Through its key strategic partnerships and unique, multi-chain structure, Avalanche is playing a pivotal role in the advancement of RWA tokenization,” said Grayscale’s head of product and research, Rayhaneh Sharif-Askary, in a statement, referring to the process of creating a way of trading real-world assets on-chain. Read the full article here
SunPump is quickly gaining a following. Data tracked by Dune Analytics shows over 7,300 tokens were created on SunPump in the past 24 hours, generating $585,000 revenue. On the other hand, Pump recorded 6,700 new token issuances, generating $366,000 in revenue in that timeframe. Read the full article here