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3 Members of Terraform Labs’ In-House Legal Team Abruptly Leave Amid LUNA, and UST Fallout

3 Members of Terraform Labs’ In-House Legal Team Abruptly Leave Amid LUNA, and UST Fallout

Three members of Terraform Labs’ legal team have left the company, according to their Linkedin profiles that show their departure from the firm this month. The resignation of the company’s in-house litigation, regulatory, general, and…

Business
Web3 Gaming Company Metatheory Raises $24 Million With Backing From A16z, Pantera, and FTX

Web3 Gaming Company Metatheory Raises $24 Million With Backing From A16z, Pantera, and FTX

Metatheory, a Web3 gaming company founded in 2021, has announced it has raised $24 million in a Series A funding round. The investment round, which was led by big VC names in the crypto space…

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FTX Founder Sam Bankman-Fried Thinks Bitcoin Has No Future as a Payments Network

FTX Founder Sam Bankman-Fried Thinks Bitcoin Has No Future as a Payments Network

Sam Bankman-Fried, the founder of the cryptocurrency exchange FTX, has given his take regarding the future of Bitcoin’s usage. Bankman-Fried stated he doesn’t believe that Bitcoin will work as a payments network, due to its…

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Chinese Authorities Prosecute Alleged Masterminds Behind MDC Pyramid Scheme

Chinese Authorities Prosecute Alleged Masterminds Behind MDC Pyramid Scheme

Chinese authorities in Rong County recently said they have prosecuted eight individuals accused of being the masterminds behind the Magic Data Chain (MDC) pyramid scheme. The pyramid is thought to have handled transactions with a…

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Internet Service Company Cloudflare to Run Ethereum Validator Nodes as Part of Its Web3 Focus

Internet Service Company Cloudflare to Run Ethereum Validator Nodes as Part of Its Web3 Focus

Cloudflare, an internet services and DDoS protection company, has announced a new strategy regarding its Web3 experiments. The company revealed it will run Ethereum validator nodes as part of its commitment to help to scale…

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DOJ Files First Criminal Complaint Against US Citizen Allegedly Using Cryptocurrency to Evade Sanctions

DOJ Files First Criminal Complaint Against US Citizen Allegedly Using Cryptocurrency to Evade Sanctions

The Department of Justice (DOJ) has filed its first criminal complaint against an American who allegedly used cryptocurrency to circumvent U.S. sanctions. “The payments platform advertised its services as designed to evade U.S. sanctions, including…

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South Korea Launches ‘Emergency’ Investigation Into Collapse of LUNA and UST

South Korea Launches ‘Emergency’ Investigation Into Collapse of LUNA and UST

South Korea’s top financial regulators have launched an emergency investigation into the collapse of cryptocurrency LUNA and stablecoin UST. The authorities have asked domestic cryptocurrency exchanges to provide information relating to transactions and investors of…

Business
Study: Amid Mining Bans, China Still Commands World’s Second-Largest Share of Bitcoin Hashrate

Study: Amid Mining Bans, China Still Commands World’s Second-Largest Share of Bitcoin Hashrate

New data stemming from the latest Cambridge Centre for Alternative Finance (CCAF) report on bitcoin mining indicates that China still holds the second position in terms of global hashrate. While China commands close to 22%…

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Terra Community Plans to Vote on Forking the Chain — Launch May Airdrop a Billion New Tokens to Network Participants

Terra Community Plans to Vote on Forking the Chain — Launch May Airdrop a Billion New Tokens to Network Participants

Following the aftermath of Terra’s UST implosion, the blockchain project’s founder Do Kwon has been actively discussing the Terra ecosystem revival plans and one specific proposal will be voted on May 18. The plan is…

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India’s Central Bank RBI Warns Crypto Could Lead to Dollarization of Economy

India’s Central Bank RBI Warns Crypto Could Lead to Dollarization of Economy

India’s central bank, the Reserve Bank of India (RBI), has expressed concerns that cryptocurrencies could lead to the dollarization of a part of the Indian economy. “It will seriously undermine the RBI’s capacity to determine…