Cardano’s ADA cryptocurrency is currently facing significant volatility, with a recent price decline of 16% drawing attention to a resurfacing controversy. The shadow of the 318 million Cardano [ADA] ‘redemption scandal’ from back in 2021 resurfaced over the weekend, igniting heated debate. However, some of the claims linked the scandal to money laundering, forcing Cardano’s … Read more
Roman Storm’s defense team wants to know if the U.S. Department of Justice is withholding any information that may help the Tornado Cash developer’s case. In a letter filed late Friday, defense attorneys said recent disclosures in another, somewhat similar, case raised concerns that prosecutors either misled the judge overseeing the case or otherwise was … Read more
Quantum Biopharma has purchased an additional $1 million worth of Bitcoin and other cryptocurrencies, the Canadian biotechnology company said. The buys take Quantum’s total cryptocurrency holdings to approximately $4.5 million, according to a May 19 press release. The biotech company plans to stake a portion of its crypto to generate revenue. Quantum expects that holding a … Read more
Sonic SVM, the leading chain-extension Virtual Machine (SVM) on the Solana network, today unveiled a major upgrade to its SONIC tokenomics. It is swapping its traditional burn model for a more efficient buy-and-lock mechanism. This new mechanism will bolster long-term value for users and deepen alignment with Solana’s ecosystem. Under the new structure, half of … Read more
Strategy, formerly known as MicroStrategy, has acquired another 7,390 BTC. The Bitcoin (BTC) was purchased with approximately $764.9 million between May 12 and May 18, pushing Strategy’s total holdings to 576,230 BTC, according to an SEC filing on Monday. The acquisition was funded through a combination of stock offerings, including the sale of 1.7 million … Read more
Following a slew of companies last week revealing similar plans, Digiasia Corp. announced a commitment to establish a bitcoin treasury reserve, potentially raising up to $100 million to acquire BTC, as its shares surged 93% by 1 p.m. ET on Monday. Digiasia Eyes $100 Million to Build Bitcoin Treasury The fintech firm Digiasia Corp. (Nasdaq: … Read more
Key Takeaways: A class-action lawsuit accuses Coinbase of illegally collecting and sharing users’ biometric data. Plaintiffs allege Coinbase failed to inform users about how their facial data was collected, used, and stored. Over 10,000 arbitration claims have reportedly been dismissed after Coinbase refused to pay arbitration fees. A new class-action lawsuit filed in Illinois could … Read more
In one of his first speeches since becoming chair of the US Securities and Exchange Commission (SEC) in April, Paul Atkins addressed some of the regulatory concerns around the cryptocurrency industry. In prepared remarks for a May 19 speech, Atkins said it was a “new day” for the crypto industry under the current leadership of … Read more
Cardano founder Charles Hoskinson announced that the Cardano Foundation will soon release an audit to counter rising accusations of financial misconduct. The disclosure comes nearly two weeks after NFT artist Masator Alexander alleged that Hoskinson unilaterally altered the Cardano ledger to take control of 318 million ADA, worth over $600 million at the time, and … Read more
Fundstrat’s head of research Tom Lee says that Monday’s pullback in stocks is a buying opportunity despite growing economic issues in the US economy. In a new interview on CNBC Television, Lee says that even though Moody’s downgraded the US’s credit rating from AAA to AA1 on Friday due to soaring national debt, he remains … Read more