U.S. government moves $1 billion in bitcoin tied to Bitfinex hack, with no sign of sale Wallets linked to the U.S. government moved 12,267 bitcoin worth about $1.01 billion from a wallet holding funds seized in connection with the 2016 Bitfinex hack, according to blockchain intelligence firm Arkham. The bitcoin was sent to new, unlabeled…
Anthropic Launches Haiku 5.5 as Its Cheapest and Fastest Claude Model Yet Anthropic has released Claude Haiku 5.5, the third model in its Claude 5.5 lineup, expanding its product range as it builds out a broader artificial intelligence portfolio ahead of a planned initial public offering (IPO). The launch follows recent releases of Claude Opus…
Fifth Circuit Hands SEC a Rare Win on Crypto Exchanges The Fifth Circuit just reversed a lower-court ruling that had blocked the SEC from pursuing unregistered crypto trading platforms. In a single stroke, the appellate panel restored the agency’s ability to argue that certain digital-asset venues are operating as unlicensed exchanges—an outcome that could ripple…
Crypto Nerd’s Nugget of the Week: Frame Frame is a post-quantum Layer 1 network being developed by The Crypto Company. Its stated goal is to provide blockchain settlement and cross-chain value movement using cryptography designed to remain secure against future quantum-computing threats. Rather than treating quantum resistance as an add-on, Frame appears to be building…
Empire Market Co-Creator Sentenced to 40 Years Over $430M Dark Web Bazaar A co-creator of Empire Market has been sentenced to 40 years in prison in connection with the dark web marketplace, which was linked to more than $430 million in activity. Empire Market operated as an online bazaar on the dark web, a part…
SEC WIN IN SECOND CIRCUIT REWRITES EXCHANGE LIABILITY The Second Circuit just gave the SEC its clearest win yet against crypto exchanges that claim they only provide “access,” not trading services. The court ruled that platforms facilitating token sales can be held liable as unregistered broker-dealers even when they never take custody of customer funds….
OSL Brings USDGO Market-Neutral Fund On-Chain for Hong Kong Investors OSL is bringing a USDGO market-neutral fund on-chain for investors in Hong Kong, according to the announcement. The move places the fund within a blockchain-based investment structure, giving eligible Hong Kong investors access to a market-neutral product through an on-chain format. Market-neutral strategies generally aim…
CFTC Handed Setback in Crypto Case, Appeals Court Signals Limits on Enforcement Reach A federal appeals court in Washington has handed crypto trader Trevor Kitchen a meaningful procedural victory against the Commodity Futures Trading Commission, overturning the agency’s attempt to block his challenge to an enforcement action. The ruling chips away at the CFTC’s preferred…
Post-Quantum Custody Platform Strongpoint Adds Quantus As Development Partner Project Eleven said it plans to add support for the Quantus Network to Strongpoint, its institutional custody platform designed for the transition to post-quantum cryptography. Quantus will join as a development partner on the integration, which the companies said is targeted for the first quarter of…
Cardano Foundation Spins Out Veridian and Tokenizes Its Shares on New Standard The Cardano Foundation has spun out Veridian, a new entity whose shares have been tokenized under a newly introduced standard. The move links a corporate structure with blockchain-based ownership records. By representing Veridian’s shares as digital tokens, the arrangement places equity issuance within…
Dark web drug market operator sentenced to 40 years and ordered to forfeit $101 million in bitcoin An operator of a dark web drug market has been sentenced to 40 years in prison and ordered to forfeit approximately $101 million in bitcoin, marking a significant cryptocurrency-related enforcement action. The case highlights how digital assets can…
Decrypt Money Accounts Launch on Solana to Power The Information Exchange Decrypt said its Money Accounts are now live on Solana, giving users a single, self-custodial balance designed to work across Decrypt’s growing suite of financial products and its market platform, The Information Exchange. According to Decrypt, the accounts support balances in USDT and are…
Pudgy Penguins’ Ethereum Layer-2 Abstract Will Shut Down on Dec. 15 Abstract, the consumer-focused Ethereum layer-2 network built by Igloo Inc., the parent company behind Pudgy Penguins, will shut down on Dec. 15. In an announcement published on Oct. 6, the team warned users that any funds left on-chain after the deadline will become inaccessible….
Court Blocks SEC From Re-Defining Crypto As Securities The Fifth Circuit just handed the SEC a setback in its long-running war against crypto, ruling that the agency cannot treat digital assets as securities without first proving they meet the specific requirements of the Howey test. The decision, issued November 26, 2024, in case 23-50669, signals…
Texas Appeals Court Slams Door on Blockchain Firm’s Last-Ditch Play A Texas appeals court just told Envy Blockchain and its affiliates they cannot use an extraordinary writ to dodge a state-court fight over digital-asset rights. The Eighth Court of Appeals in El Paso denied the company’s petition for mandamus, leaving the underlying contract and property…
Grayscale XRP ETF Adds In-Kind Transactions and New Custodian Grayscale’s XRP exchange-traded fund has been updated to include in-kind transactions and a new custodian, according to the information provided. In-kind transactions allow ETF shares to be created or redeemed using the underlying asset—in this case, XRP—rather than relying exclusively on cash. This structure can affect…
XRP Whale Transfers off Binance Reach Highest Level in 7 Months Large XRP holders, often referred to as “whales,” have moved XRP off Binance at the highest level seen in seven months. The activity indicates a notable increase in transfers away from the exchange. However, without additional details on the size, destination, or purpose of…
Ethereum Researcher Says AI May Break Encryption Before Quantum Does Ethereum Foundation researcher Justin Drake, long known for warning that quantum computers could eventually undermine crypto security, is now urging the blockchain industry to prepare for a different near-term risk: artificial intelligence. In a Wednesday post on X, Drake called for the industry to calmly…
COINBASE WINS FIRST ROUND, SEC ENFORCEMENT POWER BENT Coinbase just forced the Securities and Exchange Commission to defend its own rule-making process in open court, and the Third Circuit has now handed the exchange a procedural victory that could slow the agency’s ability to police crypto without first clearing new hurdles. The court’s order effectively…
Crypto “Godfather” Sentenced to Six Years in $37 Million Meta Fraud Case A man described as a crypto “Godfather” has been sentenced to six years in prison in connection with a $37 million fraud involving Meta, according to the information provided. The case also involved the hiring of sheriff’s deputies, adding a law-enforcement dimension to…
