A synthetic asset represents real-world assets digitally, created and traded on blockchain networks, mirroring the value and behavior of its underlying counterpart. What are crypto synthetic assets? Blockchain-based financial instruments called crypto synthetic assets imitate the value and behavior of actual assets or financial instruments. Crypto synthetic assets, also knownContinue Reading

This initiative also encompasses their comprehension of Sam Bankman-Fried’s remarks and conduct, particularly regarding FTX’s asset management. The Department of Justice (DOJ) has confirmed its intention to summon former FTX clients, investors and staff as witnesses in the upcoming trial involving Sam Bankman-Fried, the former FTX CEO. The DOJ submittedContinue Reading

The Ethereum co-founder proposes a solution that could lower the likelihood of any individual liquid staking provider growing to a point where it poses a systemic risk. Vitalik Buterin, the co-founder of Ethereum, has expressed worries regarding decentralized autonomous organizations (DAOs) exerting a monopoly over the selection of node operatorsContinue Reading

The SEC alleges that Prager Metis, an accounting firm engaged by bankrupt crypto exchange FTX in 2021, committed hundreds of violations related to auditor independence. The United States Securities and Exchange Commission (SEC) has commenced legal proceedings against an accounting firm that had provided services to cryptocurrency exchange FTX priorContinue Reading

Brazil is launching its new national identity program powered by blockchain technology. Rio de Janeiro, Goiás, and Paraná will be the first states to issue identification documents on-chain. Over 214 million Brazilians will soon be using blockchain technology for digital identity, the government recently announced. Rio de Janeiro, Goiás, andContinue Reading

Sam Bankman-Fried’s lawyer asserts that the proposed questions already insinuate his guilt in fraud and money laundering. The lawyer representing Sam Bankman-Fried, the former CEO of the now-defunct crypto exchange FTX, has claimed that the proposed jury questions for the upcoming fraud trial will elicit biased responses. In a courtContinue Reading

A new report indicated Bitcoin ETFs could release $600 billion in new demand — double Bitcoin’s current market cap. Here’s some math behind the estimates. A United States appellate court directed the Securities and Exchange Commission in August to reassess its denial of Grayscale’s application for a Bitcoin exchange-traded fund (ETF). AContinue Reading