Terraform Labs Seeks Access to FTX Wallets
Terraform Labs wants to subpoena bankrupt FTX for relevant documents it could use to defend its case against the U.S. SEC. According to a court document, Terraform Labs requests authorization from the judge to subpoena data from the insolvent cryptocurrency exchange FTX, arguing that the information could aid in its defense against a lawsuit filed […]
US Federal Reserve Launches FedNow Service
The United States Federal Reserve has formally launched its much anticipated FedNow payment service. The Federal Reserve has hailed the FedNow service as one that will enable Americans to send and receive payments instantaneously and around-the-clock, 24 hours a day. The FedNow service’s role in modernizing the American payment system is proof of the apex […]
Chinese Digital Yuan Records $250 Billion in Transactions
China’s digital yuan has witnessed tremendous growth as the central bank ramps up its CBDC pilot in the last one-and-a-half year. The central bank digital currency (CBDC) of the nation, which had seen transactions amounting to 1.8 trillion yuan by the end of June, was discussed at the conference held in Singapore on July 19 […]
UK Financial Regulator to Introduce Digital Sandbox
Financial Conduct Authority (FCA) of the UK plans to grant them access to a digital sandbox to enable companies to test their products at an early stage of development. The Digital Sandbox, a testing environment used by a UK startup, will be made permanent on August 1st, 2023. It follows two successful pilot projects and […]
Polychain Capital, Coinfund Raise $350M for New Crypto Funds
Polychain Capital and Coinfund, two crypto venture capital firms, raised $350 million for their new investment funds. According to sources acquainted with the situation, Polychain raised $200 million during the “first close” of its fourth investment fund, according to a July 18 Forbes article. After the closure, Polychain will have contracts with investors and be […]