Ripple CTO dismisses the XRP hoax on ChatGPT
The company’s CTO made fun of an AI chatbot that claimed Ripple could covertly control its blockchain through an unreported backdoor in the network’s code. The XRP Ledger (XRPL) is allegedly being surreptitiously controlled by Ripple, according to a conspiracy theory created by ChatGPT, an AI tool. This claim has been refuted by Ripple’s chief […]
US FTC investigates crypto companies for false advertising
The Federal Trade Commission is looking into numerous unnamed cryptocurrency companies for allegations of misconduct in the promotion of digital assets. The Federal Trade Commission (FTC) of the United States is looking into a number of cryptocurrency companies for potentially fraudulent or misleading cryptocurrency advertising. FTC spokeswoman Juliana Gruenwald said the agency is looking into […]
Chinese court rules NFTs are legally protected virtual property
Nonfungible Tokens (NFTs), according to a Chinese court in the city of Hangzhou, are online virtual properties that need to be protected by Chinese law. A Dec. 5 post by cryptocurrency blogger Wu Blockchain discloses the favorable language for NFTs after the country started to crack down on cryptocurrencies in 2021, placing NFTs in legal […]
South Korea drops arrest warrants for ex-Terraform Labs workers
Authorities in South Korea have revoked the arrest warrants that five former Terraform Labs employees had been the subject of requests from prosecutors last week. Following the rejection of the arrest warrants, Terraform Labs issued a statement claiming that this “illustrates that the prosecutors are trying to stretch Korean laws past their breaking point.” Daniel […]
Galaxy Digital acquires Celsius GK8 in bankruptcy sale
GK8, the self-custody platform, which Celsius paid $115 million in 2021, is about to change hands, subject to regulatory permission. GK8, an institutional digital asset self-custody platform owned by Celsius Network, has been awarded to Mike Novogratz-led investment firm Galaxy Digital Holdings, subject to court clearances and other closing requirements. The platform’s almost 40-person team, […]