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  • Sep 02, 2024

Terra-Linked Galois Capital Lost $40 Million on FTX—Now It Must Pay the SEC a Fine Too

Galois Capital, the crypto hedge fund that famously warned of the dangers around Terra's LUNA and UST ahead of their 2022 collapse, has been charged by the U.S. Securities and Exchange Commission for misleading investors and for not properly safeguarding customer funds. The firm, which shut down in early 2023 after being impacted by the downfall of crypto exchange FTX, has settled the charges and will pay the regulator a civil penalty of $225,000, which will be distributed to users. Galois lost...

  • Sep 02, 2024

How Epoch Summit is ‘Changing the Paradigm’ of Crypto Events

New crypto conference Epoch Summit is set to showcase blockchain infrastructure in the Asia-Pacific (APAC) region—and “change the paradigm” of crypto events, said founder John Park. The conference launches with an Official Infra Day at Korea Blockchain Week in Seoul on September 5, with the full event spanning two days at Andaz Singapore, from September 16-17. Park, the CEO of blockchain infrastructure provider A41, told Decrypt that crypto conferences, “should be always about being forward-look...

  • Sep 02, 2024

FBI Warns North Korean Cyber Crooks May Be Targeting Bitcoin ETF Companies

North Korean cybercriminals are stepping up their game and becoming more sophisticated in a bid to steal cryptocurrency—including conducting research on those connected to digital asset exchange-traded funds (ETFs), the FBI has warned. In a Tuesday announcement, the agency said that criminal actors from the closed-off state were now conducting "difficult-to-detect social engineering campaigns" against those working in the crypto sector, including those in the decentralized finance (DeFi) and ETF...

  • Sep 02, 2024

Bitcoin Miner Riot Calls Out ‘Concerning’ Moves From Bitfarms Amid Attempted Takeover

Bitcoin mining giant Riot Platforms provided an investor update on Tuesday concerning its effort to take over Bitfarms, a smaller Canadian rival that’s been resisting the former’s attempted hostile takeover. Riot offered its views on recent shakeups with Bitfarms’ board of directors, including the resignations of co-founders Emiliano Grodzki and Nicolas Bonta in recent months, whom Riot had previously targeted for replacement. “While these changes represent a step in the right direction, they ha...

  • Sep 02, 2024

ZKsync Maker Matter Labs Reveals Layoffs Amid Crowded Ethereum Scaling Market

Matter Labs, the company behind Ethereum scaling network ZKsync, announced on Tuesday that it laid off over 16% of its staff, in the latest contraction to shake up the crypto industry.  Alex Gluchowski, the company’s co-founder and CEO, announced the move publicly, calling it “the hardest change” he’s had to implement in Matter's six-year history. “Our market environment and business needs have changed significantly over the course of this year,” Gluchowski tweeted, explaining the decision. “We...

  • Sep 02, 2024

Polygon Is Migrating From MATIC to POL: Here's Everything You Need to Know

Polygon Labs is making major strides toward the future of its network on Wednesday. On September 4‌‌, the Ethereum scaling network will complete a migration from its longstanding MATIC token to POL, which will then become the native token of its network. The migration forms an integral part of the Polygon 2.0 roadmap. Ahead of the shift, here’s a look at what to expect from the migration—and what you need to do if you’re a MATIC holder. What is the “MATIC” to “POL” migration?  The POL migration...

  • Sep 02, 2024

Bitcoin Could Go Lower Despite Fed Rate Cuts, Analysts Say

As the cryptocurrency market anticipates potential Federal Reserve interest rate cuts, analysts are cautioning that Bitcoin (BTC) might experience a short-term decline, challenging the conventional wisdom that rate cuts are universally bullish for risk assets. According to a September 2 report by Bitfinex, Bitcoin prices have surged by as much as 32% since the August 5 lows, with global open interest for BTC/stablecoin perpetual pairs increasing by nearly 30%. However, the size of the Bitcoin pr...

  • Sep 02, 2024

Most TON Holders In the Red as Price Keeps Falling After Telegram CEO Arrest

Toncoin’s price slipped below $5 on Tuesday, hitting a four-month low following the arrest of Telegram founder and CEO Paul Durov in France late last month. The Telegram-linked cryptocurrency, which powers The Open Network (TON), is officially separate from the messaging app. Still, TON has roots with Telegram’s CEO, and it serves as the backbone for Telegram’s crypto features, such as in-app, digital wallets. Over the past day, Toncoin’s price had fallen 4.1% to $4.95, showing a 26% loss over t...

  • Sep 02, 2024

Nvidia Market Cap Drop Sets Record as Tech Stocks Fall

The first trading day of September was awash in red, with the Dow Jones Industrial Average down more than 600 points and the technology sector hard hit. Once high-flying Nvidia (NVDA) led the losses, although Apple, Microsoft, and Google were also down for the day. Nvidia (NVDA) suffered the most during the Tuesday bloodbath, with its stock plunging 9.53% to $108 from its open at $116.02. The drop brought a massive contraction in the company's total market cap. The $270 billion fall from $2.92 t...

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