In a massive new update, the SEC approved in-kind ETFs for Bitcoin and Ethereum, as well as an expedited approval process for future altcoin products. This represents a significant breakthrough for the market sector. Additionally, the Commission raised the position limit on IBIT options trading tenfold, potentially enabling “an explosion of option-based Bitcoin ETFs.” In-Kind…
Global stablecoin infrastructure undergoes unprecedented transformation as Hong Kong’s Stablecoin Ordinance approaches August 1 implementation and the U.S. GENIUS Act catalyzes institutional adoption. Consequently, synchronized regulatory frameworks across both jurisdictions trigger extraordinary market responses and strategic institutional positioning. Market Euphoria Meets Regulatory Scrutiny Traditional financial institutions in Hong Kong position themselves within the emerging digital…
Tornado Cash founder Roman Storm’s legal team is on the back foot as another key witness decided to plead the Fifth. Court reporters claimed that the jury appeared “overwhelmed” at the remaining jargon-heavy testimony. As the trial continues, it seems like the DOJ’s biggest victories have come from disrupting Storm’s roster of witnesses. Trump appointees…
The SEC is delaying several ETF applications today, including Truth Social’s Bitcoin ETF. Other products in the queue include Grayscale’s Solana ETF and Canary Capital’s Litecoin fund. Additionally, VanEck’s AVAX ETF faces another deadline, but further setbacks seem likely. The Commission appears sympathetic to creating these new products, but is trying to buy as much…
Dragonfly Capital may soon find itself in the crosshairs of U.S. prosecutors over its 2020 investment in Tornado Cash developer PepperSec, Inc., the firm behind the now-sanctioned crypto privacy protocol. Key Takeaways: Dragonfly Capital may face legal scrutiny over its 2020 investment in Tornado Cash developer PepperSec. Managing partner Haseeb Qureshi defended the move, citing…
Roman Storm’s landmark trial is still ongoing, and federal prosecutors admitted that they’re considering charges against employees at Dragonfly Capital, a VC that backed Tornado Cash. The presiding Judge sealed a statement describing the specific employees in question. However, the possible charges wouldn’t be directed at Dragonfly or the entire firm. General Partner Tom Schmidt…
Key Takeaways: NDAChain is Vietnam’s state-backed blockchain, integrated with national digital services and identity systems. The system uses Proof-of-Authority with zero-knowledge proofs and supports both decentralized ID and traceability tools. By 2026, NDAChain will expand to regional and educational systems and support Layer 2 app development. Vietnam has launched NDAChain, a permissioned Layer 1 blockchain…
Ethena Labs has partnered with Anchorage Digital to launch a fully regulated version of its USDtb stablecoin within the United States, aligning with the newly enacted GENIUS Act, according to a July 24 statement. The collaboration marks a major milestone for Ethena as it transitions USDtb’s issuance to a domestically regulated GENIUS Act framework that…
Federal prosecutors presented evidence suggesting Tornado Cash founder Roman Storm moved millions through Binance and coordinated with co-founders to send funds and buy offshore real estate. IRS-CI Special Agent Stephan George told the jury he traced over $533,000 in USDT from a Binance account allegedly controlled by Storm. He said the funds were moved on…
New York’s viral mayoral candidate Zohran Mamdani has caused a social media storm with his ‘social democratic’ political ideology and engaging campaign approach. However, his crypto stance still remains in the grey. Meanwhile, Mamdani’s opposition is already turning to the crypto industry to swing public opinion. Zohran Mamdani’s Silence on Crypto New York City, a…