The Senate Banking Committee advanced the first major legislation designed to regulate the cryptocurrency market The Clarity Act successfully cleared a significant legislative hurdle on Thursday after the Senate banking committee approved the measure with a 15-9 vote. This decision represents a major milestone for the digital asset industry as it is the first comprehensive
20 victims have filed a $525m lawsuit against the law firm Fenwick & West A massive $525 million legal action has been initiated in the US District Court for the District of Columbia against Fenwick & West LLP by a coalition of victims spanning five different jurisdictions. The plaintiffs allege that the prominent Silicon Valley
The newly introduced feature lowers costs for high-frequency AI transactions The payment protocol x402 has launched a batch settlement feature specifically designed to facilitate extremely small transactions between artificial intelligence (AI) agents. This update allows for payments valued at less than $0.0001, which is essential for purchasing on-demand resources like computing power and data inference.
The proposed bank would focus on being a primary clearing house for artificial intelligence agents and stablecoin transactions Augustus recently reached a significant regulatory milestone after the Office of the Comptroller of the Currency granted conditional approval for a national bank charter. This development allows the payments firm to transition its European successes into the
The US Senate Banking Committee will meet this week to deliberate on the landmark Clarity Act Members of the Senate Banking Committee are scheduled to convene on May 14 to discuss the Clarity Act, which seeks to establish a formal regulatory framework for the digital asset industry. This executive session, held in Washington, DC, aims
The improvement helps enhance the case of blockchains for financial transactions The layer-2 network Polygon has officially reduced its average block time by 250 milliseconds, bringing the new speed down to 1.75 seconds. This technical milestone represents the first time the network has lowered these intervals since its inception and serves as a strategic move
A federal court has sentenced a California man to 78 months in prison for his role in a violent cryptocurrency theft ring Marlon Ferro of Santa Ana recently received a sentence of six and a half years in federal prison following his participation in a sophisticated criminal enterprise that defrauded victims of more than $250
The new investment vehicle will support blockchain entrepreneurs and decentralized infrastructure The venture capital firm Andreessen Horowitz recently announced that Andreessen Horowitz’s a16z Launches New $2.2 Billion Crypto Fund to support the next generation of digital asset startups. This new vehicle, known as Crypto Fund 5, is designed to provide long-term capital to founders over
Western Union has officially launched its USDPT stablecoin on the Solana blockchain to modernize global remittance services The financial services giant Western Union has introduced its first US dollar-denominated stablecoin, USDPT, to facilitate on-chain settlement across its expansive global network. By leveraging the Solana blockchain, the company intends to provide faster and more efficient payment
New York Attorney General Letitia James is ordering the payment from the cryptocurrency platform New York Attorney General (AG) Letitia James announced a significant settlement following an investigation into Uphold for its partnership with the failed lending firm Cred, LLC. The cryptocurrency platform will now have to pay $5 million to settle the investigation. My
Digital asset thefts surged in April as decentralized finance platforms faced a series of massive security breaches The cryptocurrency sector experienced a staggering increase in criminal activity during April, with total losses from exploits exceeding $630 million. This figure represents the highest monthly total for digital asset theft in over a year, signaling a dangerous
Alexander Mashinsky has agreed to pay $10 million following the Celsius collapse The founder of the defunct cryptocurrency platform Celsius Network, Alexander Mashinsky, has reached a settlement with the Federal Trade Commission. It includes a significant financial penalty and a lifetime ban from the industry. Under the terms of the agreement filed in the Southern
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