Ryan S. Gladwin

Social recovery means relying on friends and family to access your crypto. Image: Shutterstock.

Is Social Recovery the Answer to Losing Your Seed Phrase?

Would you trust five friends to help guard your crypto stash? That’s the premise of so-called social recovery, one solution to accessing your wallet should you lose that 12- to 24-word seed phrase. The most common execution lets users nominate five wallets they trust—sometimes called guardians—that are responsible for helping recover their wallets. When you need the service, three of the five wallets must sign a transaction that'll grant you access to your account. It's important to note, though

Do Kwon has made bail in Montenegro. Image: Shutterstock.

Do Kwon's Bail Approved After Property Verified to Be 'Worth Millions'

Do Kwon will be released from Montenegro detention after his bail request of approximately $427,900 (€400,000) was accepted. This comes after the court verified his property to be "worth millions." The Terraform Labs co-founder waits to face trial—alongside his former finance officer Han Chang-Joon—in Montenegro for falsifying official documents. Terraform Labs was the firm behind the collapsed stablecoin project Terra. This is the third change of ruling regarding Do Kwon's bail. Originally, the

'Overwatch' From Overhead: 'Machines Arena' Is a Shooter That Doesn't Miss

Hero shooters like Overwatch, Valorant, and Apex Legends have dominated the broader shooter genre for years. The format—with an array of distinctive, differently-abled characters to choose from and specialize in—is so tried and tested that any game entering the sub-genre risks being labeled as a copycat… or worse, stale. But The Machines Arena, currently running in a closed beta period, puts a fresh twist on the hero shooter formula. It takes a top-down perspective while keeping features that av

Mojo Melee Puts a Casual Spin on Teamfight Tactics-Style Auto Battlers

The “auto battler” genre—a mash-up of chess and turn-based strategy games—saw a boom in 2019 with the release of the Dota Auto Chess mod, Valve's official Dota Underlords game, and Riot Games’ Teamfight Tactics. Since then, however, the genre hasn't seen many major releases that challenge the heavyweights. While Teamfight Tactics dominates the genre, Mojo Melee has stepped forward as a new competitor. The new auto-battler has entered an open beta phase utilizing NFTs that act as skins, in-game c

'Mini Royale: Nations' Is a Fun First-Person Shooter—That Sometimes Misses the Mark

Looking for a browser-based shooter to play on your lunch break at work or while at school? Mini Royale: Nations might be the game for you. The free-to-play first-person shooter, built by Web3 game studio Faraway, adopts a Fortnite-esque cartoonish art style with fast-paced, run-and-gun, Call of Duty-like gameplay. And on top of that, the game lets users connect their Solana or Ethereum wallet to buy and use NFTs of weapon and character skins. It’s a simplistic shooter, as the web-based approac

Crypto in Hong Kong. Image: Shutterstock

New Crypto Rules Suggest Hong Kong Is ‘Testing Ground’ for China, Say Experts

Hong Kong is looking to reposition itself as a key crypto hub in the region, reopening trading to retail investors. And given its ties to the People's Republic of China, a country that's been historically anti-crypto, experts suggest that the new crypto rules could serve as a playbook for adoption for the PRC. The regulatory requirements for virtual asset trading platforms will include "suitable" onboarding processes, disclosures, and more. Tokens to be traded on these platforms will have to pas

Tornado Cash Governance Attacker Offers DAO New Lifeline—And an Expensive Lesson

Just days after taking over the project’s governance, the Tornado Cash attacker has submitted a new proposal to revert the damage they've caused. On May 18, the Tornado Cash DAO accidentally voted in the malicious proposal after failing to properly audit its contents. Tornado Cash is a privacy-preserving mixer on the Ethereum network. The attacker was then able to grant themselves 1.2 million TORN tokens, giving them control over the DAO. They then swapped 380,000 of the newly-gotten TORN tokens

Ledger is a hardware wallet provider. Image: Shutterstock.

'So Much Anger, So Much Hate', Says Ledger Co-Founder Amid Botched Recover Service Launch

It’s been a brutal 72 hours for Ledger since it launched its Recover service. "What a horrible mess," Éric Larchevêque, Ledger co-founder, said on the CryptoCurrency subreddit. "I'm devastated to come on this subreddit, that I created nine years ago, to see images of Ledger devices burning, insults, and lot and lot of anger. I'm honestly [on] the verge of tears," he said. Ledger Recover is an opt-in subscription service costing $9.99 a month. After signing up, your recovery phrase is split into

Cosmos is ranked 23 by market cap. Image: Shutterstock.

Ledger Expands Cosmos Integration, Aims at Adding 20 New Projects

The new compatibility will let Ledger Live allow users to send, receive, and stake Cosmos' native ATOM token as well as three other Cosmos-based projects: Onomy, Quicksilver, and Persistence. Ledger’s goal is to add more than 20 new Cosmos projects by the end of the year and Axelar is due to be added within two weeks. Ledger Live is an app that enables Ledger users to send, receive, and stake tokens. The team believes Ledger is the first hardware wallet to offer all three functionalities for the

Ripple has been locked in a legal battle with the SEC. Image: Shutterstock.

Judge Denies Motion to Seal Hinman Documents in Ripple SEC Case

Ripple may have just scored a win against the SEC. The crypto firm has been tied up in a lawsuit with the SEC for several years after the Commission accused Ripple of illegally selling the XRP token without registering it as a security. Part of the legal battle has centered around a controversial 2018 speech and the documents that surround it. In the speech, Bill Hinman, a former SEC director, explained why he did not consider Bitcoin or Ethereum as securities. "Putting aside the fundraising tha

Ripple Acquires Crypto Custody Firm Metaco for $250M in Tokenization Push

Ripple has acquired Swiss digital asset custody company Metaco. A deal worth $250 million will see Ripple become the sole shareholder of Metaco which will continue operations as an independent brand. Metaco offers tokenization tools and custody infrastructure for institutions to scale new business models in the crypto economy. They have already provided their services to the likes of Citi, Union Bank, and Bank BNP Paribas. The move also means Ripple will be expanding its institutional offerings

Celeb-backed Token Offerings More Likely to Be a Scam, Research Reports

New research shows that there is a link between celebrity endorsement of a crypto project and the likelihood of it being a scam. The research titled "The Effect of Celebrity Endorsements on Crypto" conducted by two former SEC economists—Joshua T. White and Sean Wilkoff—investigated the effects of celebrities boosting various ICOs. They found that “celebrity-endorsed ICOs are associated with a 23-26 percentage point increase in scams through September 2019 and a 39-40 percentage point increase in

Ledger is a hardware crypto wallet. Image: Shutterstock.

Ledger Crypto Wallet Under Fire Over Seed Phrase Recovery Service

Connecting your crypto seed phrase to your passport. What could go wrong? Hardware wallet provider Ledger has caused a stir online after releasing its latest Ledger Recover service in their latest firmware update. In a nutshell, it’s an ID-based key recovery service that backs up users’ seed phrases. To use the service, users must provide a passport or national identity card to confirm their identity. Three encrypted fragments will be trusted with custodians— Ledger, Coincover, and a third provi

You Can Own a Share of a Famed Andy Warhol Print for Just $20—Kinda

Ever wanted to own an original, signed Andy Warhol screen print? Now you can, starting at just $20… per tokenized share via a new fractionalized art platform. Also, you have to buy at least 10 shares to grab a fraction of ownership. Freeport—a platform and community gallery for tokenized fine art—is auctioning the famed pop art icon's work as its first-ever collection. A four-piece curated set of original Andy Warhol screen prints is now available from the platform, ranging in price from about

Sarah Pritchard is the FCA's Executive Director of Markets. Image: Stephen Graves/Decrypt.

New Crypto Rules ‘Will Bite’ Firms That Market to Consumers, Says Financial Regulator

New crypto rules in the UK mean crypto firms looking to lure in retail will have to tighten up, said the country's financial regulator. "We will bite on firms marketing to UK consumers," Executive Director of Supervision, Policy, and Competition, Markets at the FCA Sarah Pritchard said. "We will be on the lookout for firms that are not abiding by those rules. And if necessary, we will seek to take enforcement action." The legislation will require the marketing materials to express that there is

Solving for diversity in the crypto industry has historically been an uphill battle. Image: Shutterstock.

'Crypto Bros Are Certainly a Problem': Ripple Managing Director

The crypto bro stereotype comes from the unfortunate truth that the crypto industry isn’t quite as diverse as it could be. Ripple's managing director Sendi Young wants to fix that. "Crypto bros are certainly a problem," Young said at the Financial Times's Crypto and Digital Assets Summit. "You look at a lot of people coming [to] crypto are either from tech or finance or everything in between. And those historically have diversity challenges." As a direct response to this issue, Ripple is deployi

Quant CEO at this year's the Financial Times Crypto and Digital Assets Summit. Image: Decrypt.

Central Banks Don't Care 'How Much People Spend on Sandwiches', Says CBDC Developer Quant

Gilbert Verdian, CEO and Founder of Quant—a company involved in the development of central bank digital currencies (CBDCs), mostly in the UK and the U.S.—insisted that users shouldn't be worried about privacy when it comes to CBDC technology. "We can categorically state that the central bank does not care how much people spend on sandwiches, it's not their mission," Verdian said at the Financial Times Crypto and Digital Assets Summit. "What is happening is the same rules of AML, KYC are going to

Dr. Lisa Cameron MP. Image: UK Parliament

‘International Interoperability’ on Regulations Key to Mass Adoption: UK Crypto Parliamentary Group Chair

Regulatory "international interoperability" is vital if cryptocurrency and digital assets are to achieve mass adoption, according to the Chair of the UK’s crypto parliamentary group. "I think for the future of the sector, it's really really important that there is international interoperability," Lisa Cameron, Chair of the UK's Crypto and Digital Assets All Party Parliamentary Group, said at the Financial Times Crypto and Digital Assets Summit. "That's when cryptocurrency and digital assets wil

‘Role Is Mostly Symbolic’, Says ENS Director Candidate Ahead of Elections

With less than 24 hours until the polls closed, the ENS Foundation’s directorship is quite literally a neck-and-neck race. The only two candidates up for the role are Alex Van De Sande (also known as avsa.eth) and Seán Murray (also known as 3531.eth). Alex Van de Sande helped launch Ethereum, co-founded ENS, and was previously an advisor for the Ethereum Foundation. Currently, he is the Public Goods Steward for ENS. "I believe the role is mostly symbolic, as the goal of the foundation is to give

Bullish is a crypto exchange backed by PayPal co-founder Peter Thiel. Image: Bullish.

Peter Thiel-backed Crypto Exchange Bullish Inks Trading Deal With B2C2

Institutional trading platform B2C2 has tapped crypto exchange Bullish to continue to deliver liquidity across the crypto market. "For us, the decision to add Bullish came from their unique approach to exchange liquidity, coupled with their strong management team," a spokesperson from B2C2 said. "We have seen the industry follow suit as Bullish recently broke into the top 10 exchanges by volume per CoinMetrics." Per public data via CoinGecko, Bullish has facilitated more than $600 million in tra

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