The U.S. Securities and Exchange Commission (SEC) recently filed a lawsuit against MetaMask’s parent company, Consensys. Consensys claims to be operating as an unregistered broker and engaging in unregistered securities trading. The SEC alleges that Consensys collected more than $250 million in fees through its conduct as an unregistered broker. The lawsuit highlights the regulatory challenges facing companies operating in the cryptocurrency industry and the importance of complying with federal securities laws. Background on Consensys and MetaMask Consensys is a blockchain software company founded by Joseph Lubin, one of the co-founders of Ethereum. It offers…
Author: Crypto Flexs
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Company • June 28, 2024 2:03 PM EDT Posted 1 minute ago In ~ Updated: June 28, 2024 2:11 PM EDT Cryptocurrency exchange giant Coinbase is looking to add futures related to popular altcoins to its derivatives exchange.Coinbase has filed five new filings with the Commodity Futures Trading Commission for futures products involving DOT, SHIB, XLM, AVAX and LINK, according to the company’s website. The exchange scheduled the trading date for the product on or after July 15.“With the addition of AVA, LNK, DOT, XLM, and SHB, participants and customers will have more access points to manage risk, speculate on…
Nostra CEO resigned. This development comes less than two weeks after the launch of the project’s token. Some users questioned the timing of the CEO’s departure. David Garay resigned as CEO of Nostra on Friday, just two weeks after the Starknet-based decentralized finance (DeFi) project launched its utility token, NSTR.Garai founded Nostra as a cryptocurrency “dinner app” where users can buy, sell, stake, lend, and borrow digital assets in one place. According to Garai, Nostra has become one of the most profitable protocols on Starknet, with $2.5 million in annual revenue and $180 million in TVL (total value locked).David Garai…
According to the official EigenLayer blog, EigenLayer Research has announced a request for proposals for Uniswap (UNI) v4 Hooks. This initiative aims to engage with innovative builders in the decentralized finance (DeFi) ecosystem and invite them to contribute their insights and expertise to the development of Uniswap v4. Background and Purpose Uniswap, a leading decentralized exchange (DEX) protocol, has been a cornerstone of the DeFi landscape. The upcoming version, Uniswap v4, introduces a new feature called Hooks. These hooks are designed to provide more flexibility and control over trading strategies, liquidity provision, and other key…
Funding • June 29, 2024 4:14 AM EDT Posted 1 minute ago In ~ The U.S. Securities and Exchange Commission has returned Form S-1 to prospective examiners. Ethereum Ethereum -1.27% ETF issuers had several discussions before it went into effect.According to one publisher’s source, the form was returned with mild comments. Publishers were asked to process the comments and resubmit by July 8.The source noted that if the form is resubmitted, it will not be a final filing, meaning the ETF will need at least one more filing before it can finally begin trading.They say, “The winding road never stops.”Process…
The proof-of-work layer 1 altcoin has overcome the cryptocurrency market downturn and surged 25% this week ahead of the upcoming protocol launch. Kaspa (KAS), which advertises itself as “the world’s fastest, open source, decentralized and fully scalable Layer 1,” is trading at $0.18 at the time of writing, up from $0.144 seven days ago. The 27th largest cryptocurrency asset by market capitalization also rose more than 6.5% in the past 24 hours. As Kasplex, the protocol for the Kaspa ecosystem, moves closer to open beta, which begins on June 30, KAS’ gains are taking shape. The Kasplex protocol plans to…
According to the NVIDIA Technology Blog, NVIDIA has introduced significant improvements to Federated XGBoost with the Federated Learning Application Runtime Environment (FLARE). This integration aims to make federated learning more practical and productive, especially for machine learning tasks such as regression, classification, and ranking. Key features of Federated XGBoost XGBoost, a machine learning algorithm known for its scalability and effectiveness, has been widely used in a variety of data science tasks. The introduction of Federated XGBoost in version 1.7.0 allowed multiple organizations to jointly train XGBoost models without having to share data. Later version 2.0.0…
The U.S. Securities and Exchange Commission filed a lawsuit. Ethereum ETH -1.85% Incubator Consensys claimed its internal wallet MetaMask on Friday. It broke several laws on the books..In particular, MetaMask’s “swap” feature, which allows users to exchange one token for another, made it an unregistered broker. The securities watchdog also argued that MetaMask’s staking service, which provides an easy way to interact with liquid staking protocols including Lido and Rocket Pool, should be classified as an unregistered securities program.The SEC’s claim that Consensys “guaranteed” millions of dollars in illegal securities trading by providing the software that made it possible seems…
Avalanche and Aptos Next for ETF Approval Both tokens have seen significant price declines over the past few days. Expectations surrounding the ETF approval and ruling helped BTC and ETH prices. However, the price surge is likely not limited to blue chip coins. In fact, Avalanche (AVAX) and Aptos (APT) have been cited as cryptocurrencies that could join the club if companies choose to submit. Will Avalanche and Aptos be next? According to data shared by GSR, Avalanche and Aptos are more likely to receive ETF approval if the Solana ETF application is approved. GSR’s research shows that regulators such…
Gwei is an important unit for measuring gas fees on smart contract platforms, providing accurate and standardized fee calculations. According to the BNB Chain Blog, the low gas fees of the BNB Chain provide very low prices for both users and developers. Gwei, short for “gigawei,” represents the smallest fraction of a gas fee, 1 billion wei, named after cryptography pioneer Wei Dai. Gas is essential to smart contract platforms because it rewards validators for the computational resources they consume during transaction or contract execution. This fee system rewards validators who maintain and secure the…