Category: Crypto

TL;DR Kraken has partnered with Atlético de Madrid as its Official Crypto and Web3 Partner and Official Sleeve Partner, aiming to bridge the cryptocurrency industry and the sports world. The initiative aims to enhance fans’ digital experiences and promote cryptocurrency education. The Terms of the Collaboration The US-based cryptocurrency exchange – Kraken – announced its partnership with one of the most successful Spanish football teams – Atlético de Madrid. The company will become the club’s Official Crypto and Web3 Partner and its Official Sleeve Partner from the start of the new…

Artificial intelligence firm Skild AI recently emerged from stealth to report the successful closing of a $300 million series A funding round featuring participation by Jeff Bezos and Softbank among others. Skild AI is a Carnegie Mellon spinout focused on building an AI system capable of being retrofitted to various machines and robotics devices called a “general-purpose brain.” According to a company blog post, the funding was raised at a valuation of $1.5 billion and was led by Lightspeed Venture Partners, Coatue, SoftBank Group, and Jeff Bezos (through Bezos Expeditions).…

Bitcoin (BTC) is currently at a critical point that could determine whether its price will bottom out or decline further in a correction like that seen in the summer of 2021. While some metrics suggest that the leading crypto asset has reached the bottom of its latest correction, others signal that there could be more bloodshed and pain for market participants. Bitcoin at Pivotal Point CryptoQuant’s latest weekly crypto report says bitcoin’s price may take a little longer to rally or bottom as stablecoin liquidity growth is still not in…

Alexey Pertsev, the developer behind the OFAC-sanctioned crypto mixer Tornado Cash has been denied bail while his lawyers prepare to submit an appeal for charges of money laundering.  Pertsev’s defense lawyer, Keith Cheng, told DL News the rejection of Pertsev’s bail request came as a surprise, noting that an additional request for Pertsev to gain access to a computer to prepare for his appeal was also denied. The court said Pertsev’s continued detention would not obstruct his ability to prepare his defense, adding that Pertsev’s request for computer access went…

According to a report by a Malaysian news outlet, MalayMail, Bitcoin and crypto mining operations were mostly responsible for the massive electricity theft in the country between 2018 and 2023. Despite the crackdown, crypto mining and general services are not illegal in the Asian country. Bitcoin Mining Using Stolen Energy Akmal Nasrullah Mohd Nasir, the Deputy Minister for the Energy Transition and Water Transformation docket in Malaysia, noted that between 2018 and 2023, the country lost around RM3.4 billion ($723 million) due to unauthorized electricity supplies for crypto mining. Akmal…

Parties representing anonymous whistleblowers from artificial intelligence firm OpenAI have reportedly filed a grievance with the United States Securities and Exchange Commission over the firm’s alleged use of illegal non-disclosure agreements (NDAs).  Documents sent exclusively to the Washington Post, per a report, indicate that a group of whistleblowers associated with OpenAI filed a complaint with the SEC in June alleging the company made former employees sign restrictive, illegal NDAs in order to prevent them from discussing safety and other concerns with federal agents. Illegal NDAs? According to the post, the…

A Dutch court has denied bail for Tornado Cash developer Alexey Pertsev, who was convicted of money laundering in May. This decision is a significant setback for Pertsev, who has been held in custody for the past two months without computer or internet access despite being requested in order to prepare for his defense. Pertsev Remains in Custody The Court of Appeal of ‘s-Hertogenbosch ruled that Pertsev will remain in custody as he prepares for his appeal. Despite his defense lawyers, Keith Cheng and Judith de Boer, arguing that Pertsev…

One year ago, a landmark ruling in the Securities and Exchange Commission’s (SEC) case against Ripple Labs determined that XRP, Ripple’s cryptocurrency, is not a security. This decision has had implications for the cryptocurrency market and the regulatory landscape in the United States. The ruling marked a significant victory for Ripple, a blockchain-based digital payment network, and set a crucial precedent for classifying cryptocurrencies. The SEC had initially filed a lawsuit against Ripple in December 2020, alleging that the company had conducted an unregistered securities offering by selling XRP. However,…

Even with several high-profile collapses and de-pegging events in recent years, stablecoins have continued to capture market share from fiat, reflecting strong demand increasingly. Although the stablecoin market is still highly concentrated, with Tether’s USDT at the forefront, its dominance has been eroding over the last two years. In fact, Kaiko’s latest data shows a decline in USDT market share. Tether (USDT) is Slowly Losing Market Share In 2024, USDT’s market share on centralized exchanges (CEXs) dropped from 82% to 74% per Kaiko’s estimates. This could partly be due to…

Soccerverse, the company behind the massively multiplayer online game of the same name, announced a $3.1 fundraise led by Japanese gaming giant Square-Enix on July 11.  The game, which is currently available in beta, is a blockchain-based sports simulation similar to the Football Manager series that allows users to take on various roles such as coaching a team or representing a player. It runs on the Polygon blockchain and, while free-to-play, features web3 functionality. According to a blog post, Square-Enix led the company’s most recent funding round alongside previous backer Hiro…