U.S. Judge Katherine Polk Faila questioned both sides on a range of topics in a Manhattan courthouse on Thursday.
Solana Foundation: SOL is ‘Not a Security’
SOL, the native token of the Solana blockchain, was declared an unregistered security in this week’s SEC lawsuits against crypto exchanges Binance.US and Coinbase.
Tensions Rise Between SushiSwap, Lido Over Return of Exploited Funds
Two decentralized finance projects are butting heads over a governance proposal that could see the recovery of 40 ETH stolen in Sushiswap’s April hack.
Binance Announces Exit from Canada, Citing Regulatory Tensions
The world’s largest crypto exchange by volume said new guidance related to stablecoins and investor limits prompted the exit.
U.S. Internal Revenue Service Files Claims Worth $44 Billion Against FTX Bankruptcy
The largest of the claims includes a $20.4 billion claim against Alameda Research LLC, which details nearly $20 billion in unpaid partnership taxes.
Cata Labs Raises $4.2M to Develop ‘Bridging’ Software
The round was led by Spartan Group and included participation from Robot Ventures, Maven11, Alchemy Ventures, HashKey Capital, Circle Ventures and Superscrypt.
FTX’s LedgerX Derivatives Exchange Sold to Miami International Holdings in Bankruptcy Auction
FTX.US last purchased Ledger Holdings, the parent company of LedgerX, for $298 million in October 2021, according to audited financial documents viewed by CoinDesk.
DeFi Protocol DFlow Raises $5.5M to Bring Payment For Order Flow to Crypto
Decentralized Finance protocol DFlow would bring a controversial practice in the equities market into the world of decentralized finance.
DeFi-Focused Layer 1 Berachain Raises $42M Series A at $420.69M Valuation
The round was led by Polychain Capital and included participation from venture capital firms Hack VC, dao5, Tribe Capital, Shima Capital and Robot Ventures.
Ondo Finance Plans Yield-Generating Stablecoin Alternative For Institutional Investors
The new stablecoin-like token, OMMF, will be backed by conventional money market funds and is available only to qualified purchasers and accredited investors. But retail investors can lend against the tokens via Ondo’s DeFi protocol Flux to indirectly access the yield.
Mysten Labs to Buy Back Equity, Token Warrants From FTX Bankruptcy Estate for $96M
FTX Ventures invested $101 million in Mysten Labs just months before Sam Bankman-Fried’s empire collapsed. Now, Mysten is buying back the stake (and Sui token warrants) for $96 million through bankruptcy court.
FTX Bankruptcy Estate to Claw Back $460M From Modulo Capital
Alameda Research seeded little-known Bahamas-based hedge fund Modulo Capital with $475m in 2022. The recovery includes $404m of cash.
SEC Is ‘Completely Out Of Control,’ Says a16z Crypto’s Head of Policy
At the annual Futures Industry Association conference in Boca Raton, representatives from crypto companies argued the lack of regulatory clarity would stifle US innovation.
Multicoin Capital’s Hedge Fund Lost 91.4% Last Year, Investor Letter Reveals
The fund’s performance was severely impacted by direct exposure to now-bankrupt crypto exchange FTX and holdings in FTT and Solana-based tokens.
Crypto Wallet Startup Den Gets $2.8M in Seed Funding Led by IDEO CoLab Ventures
The Den co-founders, the duo behind the viral hit ConstitutionDAO, says solving coordination issues is the biggest challenge for on-chain organizations.
Superchain Network Raises $4M to Build Decentralized Data Indexing Protocol
The $4 million combined seed and pre-seed round included participation from Blockchain Capital, Maven 11 and other investors.
Blockchain Scaling Project Sovereign Labs Raises $7.4 Million in Seed Round
The fundraise was led by Haun Ventures and included Maven 11, 1KX, Robot Ventures and Plaintext Capital.
Gemini Terminates Its Crypto Yield Product, Amping Up Battle With Genesis
The move, which Gemini says requires Genesis to return all locked-up assets, sunsets the exchange’s nearly two year-old Gemini Earn program.
Crypto Lender Genesis Lays Off 30% More of Its Staff
The job cuts come a day after the company said it would be “reducing costs and driving efficiencies” amid a challenging environment for crypto companies.
FTX’s Bankman-Fried Gave Ex-Jane Street Traders Who Formed Modulo Capital $400M
Founded in early 2022, Modulo operated out of the same luxury Bahamian condominium community where Sam Bankman-Fried and other FTX employees lived.