FTX Sues Bybit in Lawsuit Aiming to Recover $953 Million
Crypto exchange FTX’s bankruptcy advisers filed a lawsuit against Bybit Fintech Ltd. to reclaim cash and digital assets valued at an astounding $953 million. According to the counsel, ByBit allegedly withdrew all of the funds shortly before FTX filed for Chapter 11 bankruptcy in November. The action, submitted on Friday, November 10, to a Delaware […]
China Criminalizes Stealing NFTs, Digital Collections
China’s recent proclamation, issued on Nov. 10, heralds a transformative shift in the legal landscape surrounding digital assets. The formal announcement by the Chinese government that the theft of digital collections, including NFTs, will be regarded as property theft is a major change in the country’s policy regarding the regulation of digital assets. Regarding the […]
Near Foundation Partners with Eigen Labs to Enhance Ethereum rollups
NEAR Foundation and Eigen Labs partner to enable faster, cheaper Web3 transactions for Ethereum rollups via EigenLayer. The Near Foundation and Eigen Labs have announced a collaboration that might greatly improve Ethereum rollups’ usability and effectiveness. Together, Eigen Labs, the developers of the restaking protocol Eigen Layer, and the Near Foundation, the designers of the […]
Crypto Lender Celsius Network Cleared to Exit Bankruptcy
Celsius Network is rebranding as a Bitcoin mining company and vowing to pay back customers and avoid bankruptcy. The court has granted Celsius Network, a cryptocurrency lending platform, permission to become a Bitcoin mining business that its creditors control. This move is part of a larger plan to reimburse account owners for money that hasn’t […]
Circle Announces Upgrade for USDC, EURC Stablecoins
Circle confirmed that a new v2.2 upgrade to USDC and EURC will add new features and sharpen the existing ones. The stablecoin creator Circle, who also offers EURC and USDC, has released a big v2.2 update for these cryptocurrencies. This update, the first significant one since early 2021, intends to improve these stablecoins’ security and […]