Industry
Disney Reportedly Kills Its Metaverse Division
Entertainment giant Disney has reportedly ditched its Metaverse division as part of a broader restructuring plan that will slash $5.5 billion in operating expenses and lay off 7,000 employees within two months.Barry StidhamDo Kwon registered a company in Serbia for $1 on Interpol's Red Notice
Do Kwon, co-founder of Terraform Labs, set up a company in Serbia for less than $1 a few weeks after being flagged by Interpol for a “red notice,” according to documents from Serbia’s business registry.James DeanVauld gets another creditor protection extension from Singapore High Court
Troubled cryptocurrency lending platform Vauld has won another creditor protection extension from the Singapore High Court until March 24Jerry McNeillVitalik Buterin Says 'More Work Needs To Be Done' To Tackle High Ethereum Transaction Fees
In a new blog post published on Feb. 28, Ethereum co-founder Vitalik Buterin documents the need for continuous improvements to the network to better facilitate Ether as a means of payment.Christopher SmithWrapped Bitcoin Supply Drops to Negative After 11,500 wBTC Related to Celsius Burn
The supply of wrapped Bitcoin (wBTC) fell to its lowest level since May 2021 after its second-biggest single-day burn on Feb. 27.Barry StidhamNevada Financial Watchdog Seeks Court Intervention: Prime Trust Faces Receivership
Following the cease and desist order, the Nevada Department of Financial Institutions has filed another application against cryptocurrency custodian Prime TrustJames DeanNeuralink gets FDA approval for 'human' trials of its brain-computer interface
Elon Musk's brain-computer interface (BCI) startup Neuralink has reportedly received approval from the US Food and Drug Administration (FDA) to conduct some form of "human" trials of its surgically implanted brain devices.Craig GreenLedger stops restoring service, Hong Kong Web3, another CEX goes down
Another centralized exchange (CEX) is in trouble, with Hotbit announcing that it will shut down operations due to the unfavorable business environment.Martha GrizzardEconomic Uncertainty Causes USDT Market Share to Jump, but USDC Market Share Shrinks
The market dominance of dollar-pegged stablecoins has shifted somewhat over the past year. While most of them are in a downtrend, Tether, according to data from CoinGecko, it has recovered to record highs.Christopher SmithBinance Begins Transition to New Platform in Japan
The company also boosted its US Treasury bills to a new high of more than $53 billion, or 64% of its reserves. Combined with other assets, USDT is now backed by 85% cash, cash equivalents, and short-term deposits, the report said.Cornell RachelBinance Suspends USD Bank Transfers
Cryptocurrency exchange Binance will suspend U.S. dollar bank transfers starting Wednesday,Martha GrizzardDiscover New Dingo Crypto Token Charges 99% Transaction Fees
Researchers at IT security firm Check Point security have flagged Dingo Token as a potential scam after discovering a feature that allows project owners to manipulate transaction fees of up to 99% of the transaction value.Cornell RachelCrypto Exchange Binance Introduces Tool for Calculating Taxes on Transactions
Binance’s new tax tool will let users calculate taxes related to their cryptocurrency trading activities.Christopher SmithBDO confirms Tether has $960 million worth of surplus reserves
Assurance firm BDO confirmed that Tether has assets worth at least $67 billion and a surplus reserve of at least $960 million.Cornell Rachel
Sam Bankman-Fried on the Move: Transfer to New California Prison Facility
Recent reports indicate Bankman-Fried is being transferred from his current detention facility to a new prison location.Cornell RachelUS regional banks fall even as Fed says banking system is 'solid'
Shares in several US regional banks tumbled in after-hours trading on May 3, even after Federal Reserve Chairman Jerome Powell called the banking sector "solid" and "resilient" just hours earlier.Sherry CantwellMicrosoft cancels Bing waitlist, lets users use GPT-4 for free
Microsoft recently announced a host of new artificial intelligence (AI) features for its Bing chatbot and Edge web browser. Chief among these changes is that Bing users now have full access to the GPT-4 model the same underlying engine that powers ChatGPT's “Plus” subscription service.Jerry McNeillCoinbase shares soar 7.9% as Q1 results top expectations
Cryptocurrency exchange Coinbase managed to narrow its net loss sharply in the first quarter of 2023, partly due to strong gains from retail investor trading activityHallie Gill
Berachain Roars into Mainnet with $632M BERA Airdrop
Berachain has announced its highly anticipated mainnet launch alongside a massive $632 million airdrop of its native token, BERA.Craig Green
El Salvador Rushes in New Bitcoin Law to Comply with IMF Deal
In a swift move to meet the conditions of a deal with the International Monetary Fund (IMF), El Salvador has introduced significant amendments to its Bitcoin laws.Wayne Ingram
