Mattis Meichler

Stanford University. Image: Shutterstock

Stanford University to Return Over $5.5M in 'Gifts' from FTX

Stanford University will return millions of dollars in “gifts” that it received from collapsed crypto exchange FTX at the behest of FTX founder Sam Bankman-Fried’s parents. The school was offered gifts from the collapsed crypto exchange via the FTX Foundation and FTX-related companies "largely for pandemic-related prevention and research," a spokesperson for the institution told Fortune. They added that the university has been "in discussions with attorneys for the FTX debtors to recover these g...

Blockchain's Unseen Backbone Securing Billions of Dollars in Value

Oracles are the hidden data pipeline that keeps billions of dollars in value flowing—but one of the most experienced actors in the ecosystem thinks those pipelines should be more transparent and affordable. Two years in development, Chronicle Protocol’s Scribe, launching this September, is positioned as the "next-generation oracle cryptographic primitive." It’s the brainchild of one of the most established teams in the oracle space; Chronicle started life as the first ever oracle on Ethereum in...

Binance and the U.S. Image: Shutterstock

SEC Accuses Binance US of ‘Numerous Discovery Failures’ in Court Filing

The U.S. Securities and Exchange Commission (SEC) has accused Binance of a “lack of transparency” during its investigation into the crypto exchange. In a court filing dated Sept. 14, the U.S. Securities and Exchange Commission (SEC) alleged that Binance US’s holding company, BAM, has so far produced only 220 documents during the discovery process, including “unintelligible screenshots and documents without dates or signatures.” The SEC filed a lawsuit against Binance on June 5, leveling 13 charg...

Coinbase CEO Brian Armstrong at TechCrunch Disrupt SF 2018 on September 7, 2018 in San Francisco, California. (Photo by Steve Jennings/Getty Images for TechCrunch) (Flickr: CC BY 2.0)

Coinbase CEO: DeFi Projects Should Take Regulators to Court to ‘Establish Precedent’

Coinbase CEO Brian Armstrong has taken to Twitter to urge DeFi projects to “establish precedent” by going to court with the Commodity Futures Trading Commission. In a post on the social media platform, now known as X, Armstrong argued that the regulator, “should not be creating enforcement actions against decentralized finance (DeFi) protocols,” since they are not financial service businesses. Armstrong added that, “it’s highly unlikely the Commodity Exchange Act even applies to them.” He hoped...

Sam Bankman-Fried is currently awaiting trial for wire fraud and other criminal charges. Image: Shutterstock

Judge Dismisses Sam Bankman-Fried's Pretrial Jail Release Request

The judge overseeing Sam Bankman-Fried’s trial has rejected the FTX founder’s plea for pretrial jail release. In court filings published on Tuesday, Judge Lewis A. Kaplan detailed why he considers that Bankman-Fried’s arguments for pretrial release lacked substantial weight. “Defendant largely ignores the fact that he had extensive access to most of the ESI (electronically stored discovery and other material) for 7 ½ months before his bail was revoked," Kaplan stated. Bankman-Fried’s defense tea...

Animoca Brands Raises $20M to Pursue ‘Single Native Web3 Project’ Mocaverse

Despite cooling interest in the metaverse, Animoca Brands has closed a $20 million funding round, primarily targeting the introduction of metaverse project The Mocaverse. Central to this metaverse is a set of 8,888 non-transferable NFTs, which offer exclusive access to the platform. “The Mocaverse is a project that brings together the whole Animoca Brands ecosystem: shareholders, investee companies, team members, business partners, etc. in a single native Web3 project expressed through Mocaverse...

Binance CEO Brushes Off 'Negative News' Amid Executive Departures

Following a spate of executive departures from Binance, the crypto exchange’s CEO Changpeng ‘CZ’ Zhao took to Twitter to dismiss “negative news” and rumors surrounding the company. In a post on the social media platform, now renamed X, Zhao dismissed reports of “bank runs, lawsuits, closing of fiat channels, product wind downs, employee turnover, exit markets, etc.,” as “FUD” (Fear, Uncertainty and Doubt). Binance has seen a number of top executives depart the company in recent months, with exec...

Thodex was a cryptocurrency exchange based in Turkey. Image: Shutterstock.

Thodex CEO Gets 11,000-Year Jail Sentence Over $2B Crypto Exchange Collapse

Faruk Fatih Özer, the founder and CEO of defunct Turkish crypto exchange Thodex, was sentenced to 11,196 years in jail on Thursday, as reported by local media sources. He was found guilty of aggravated fraud, leading a criminal organization, and money laundering. “I am smart enough to lead any institution on Earth,” Özer told the court, as reported by Fortune. “That is evident in this company I established at the age of 22. I wouldn’t have acted so amateurishly if this were a criminal organizati...

Basketball Title Rumble Kong League and Stance Launch In-Game and IRL HyperSocks

Web3 basketball game Rumble Kong League has teamed up with apparel brand Stance to launch a collection of in-game NFT HyperSocks, alongside IRL counterparts. The partnership, which includes a collaboration with NBA superstar Paul George, will see the Rumble Kong League universe extend beyond the game and into the real world, with the launch of IRL socks featuring the same designs seen in-game, along with an AR filter showcasing the game. “This partnership creates a shared universe where fans can...

Texas Paid Riot Platforms $31.7M to Slash Bitcoin Mining in August Heatwave

In the face of a heatwave in Texas this August, Bitcoin mining outfit Riot Platforms slashed its production in the state, receiving $31.7 million in energy credits for the power it would have otherwise consumed. Riot Platforms cut its energy demand by 95% to redirect crucial resources to the local electricity provider, ERCOT, mining just 333 Bitcoin in August, worth around $8.9 million. “The Company’s curtailment of operations meaningfully contributed to reducing overall power demand in ERCOT”,...

Global Crypto Wealth Study Reveals 6 Bitcoin Billionaires and 88,000 Crypto Millionaires

Despite the current crypto bear market, certain individuals seem to be navigating the waters expertly. A recent report by Henley & Partners reveals that the world currently plays host to six Bitcoin billionaires and 22 billionaires whose holdings are spread across multiple cryptocurrencies. While the study doesn’t divulge any information about the identity of these individuals, some of the most famous crypto billionaires include Binance CEO Changpeng ‘CZ’ Zhao, Coinbase CEO Brian Armstrong, and...

Sorare has launched 3D versions of its collectible cards. Image: Sorare

Sorare Launches AR-Equipped 3D Digital Football Player Cards

Web3 fantasy sports platform Sorare has announced the launch of 3D digital football player cards with integrated augmented reality (AR) capabilities. “By making these cards 3D, with an AR feature, we want to bring more emotion in our cards and make them more desirable for all sports fans,” a spokesperson for Sorare told Decrypt. Sorare Managers will be able to interact with their 3D cards via the SoRare App in their real-world surroundings, whether watching games in a stadium or with friends at...

London Stock Exchange Group. Image: Shutterstock

London Stock Exchange Group Plans Blockchain-Powered Digital Markets Business

The London Stock Exchange Group (LSEG) has revealed plans to launch a new blockchain-powered digital markets business that will use the technology underpinning cryptocurrency to enhance the trading of traditional financial assets. “LSEG is exploring plans to build an end-to-end digital market ecosystem that will allow for the raising and transfer of capital in a more seamless, cost-efficient way across asset classes,” an LSEG spokesperson told Decrypt. Murray Roos, head of capital markets at LSE...

Chateau de Valerie is the location for this year's Castle Party.

Fine Dining and Digital Art: Trevor Jones' Castle Party Returns

From September 3 to 5, the magnificent Château de Vallery—a stone's throw from Paris—will welcome some of the biggest names in digital art. From Jenni Pasanen and Shavonne Wong to Basileus and others—including prestigious surprise guests that have been promised—an array of contemporary creators will enjoy the festivities this weekend. The mastermind behind the who’s who of digital art is none other than Trevor Jones. The idea behind the “Castle Party” was born two years ago after the successful...

Judge Mulls Delaying Bankman-Fried's Court Date Amidst Defense Pleas

Will Sam Bankman-Fried’s trial be postponed? This question has gained momentum following a virtual hearing held Wednesday, with reports from Inner City Press and Reuters showing that Judge Lewis Kaplan might be open to the idea. During the hearing, Bankman-Fried's legal team continued to express concerns about their client's inability to adequately prepare for his trial. In response to Judge Kaplan's inquiry about these issues, one of Bankman-Fried's attorneys noted that during their client's fi...

Shavonne Wong's work at NFT Factory. Image: Mattis Meichler/Decrypt.

Digital Artist Shavonne Wong Kicks Off European Solo Exhibit

Shavonne Wong may not actively seek the spotlight, but she undeniably attracts it. Now, the 3D artist is gearing up for her second solo exhibition, marking her European debut. Starting today and running until September 9, Wong’s solo show will be on full display at the NFT Factory in Paris. The event will showcase iconic works from the artist—including three new pieces in collaboration with Marie Claire Arabia, the Arabic version of the magazine. Shavonne Wong in front of NFT Factory. Image: Mat...

FTX founder Sam Bankman-Fried outside Manhattan federal court. Photo: Decrypt/André Beganski

Bankman-Fried’s Legal Team Seeks ‘Temporary Release’ Ahead of October Trial

With the trial date for Sam Bankman-Fried fast approaching his defense team has voiced new concerns. In a motion submitted last Friday, they detailed the challenging conditions under which Bankman-Fried is preparing his defense. The motion advocates for Bankman-Fried's "temporary release." If this isn't achievable, they're requesting, at a minimum, a setup that permits him to meet with his attorneys five days a week. The defense emphasizes their client's need to access essential online documents...

Sam Bankman-Fried. Image: Justin Lane/EPA-EFE/Shutterstock

Sam Bankman-Fried’s Lawyers Granted Unlimited Prison Visits

A federal judge has allowed Sam Bankman Fried’s lawyers to “take unlimited advantage of the legal visitation hours” at the Metropolitan Detention Center (MDC) in Brooklyn, New York, per a court filing on Wednesday. The approval comes after the Department of Justice requested certain modifications to Bankman-Fried’s “accommodations” on August 18 that would allow him to effectively execute “the entirety of discovery in a timely manner before trial. “ In addition to the visitation rights, Bankman-F...

Germany Ramps Up AI Investments Amid Global Race for Innovation

As the global race for artificial intelligence (AI) innovation intensifies, Germany is making strategic moves to stay competitive. Last Wednesday, Research Minister Bettina Stark-Watzinger revealed Germany's ambitious plan to double its public funding for AI research, elevating the investment to nearly one billion euros in the forthcoming two years. This financial commitment is designed to achieve multiple objectives: establishing 150 university laboratories, expanding Germany’s data center capa...

Crypto has grown in popularity in Australia. Image: Shutterstock.

Australian Central Bank Says Key Management Still a Challenge for Users in CBDC Pilot

The Reserve Bank of Australia (RBA) has wrapped up its five-month-long pilot program centered on a central bank digital currency (CBDC), termed the eAUD, which would serve as a digital counterpart to the Australian Dollar. The bank’s primary objective was to identify potential areas where the eAUD could positively impact the Australian economy. The results aligned with many of the same perspectives in the cryptocurrency community, including clunky crypto key management. The report notes, "For en...

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