Author: Coin Viz

DePIN platform peaq has added major European enterprises and research institutions to its genesis node pool, marking a significant step in enterprise adoption of Web3 technologies. As peaq reported, the launch includes Bertelsmann Investments, Deutsche Telekom, Lufthansa Innovation Hub, and the Technical University of Munich (TUM), entities with combined holdings exceeding $170 billion. The integration of these organizations into peaq’s ecosystem illustrates growing interest in DePIN, which connect real-world services with blockchain technologies. By participating in the network’s genesis node pool, these entities will play a crucial role in securing the blockchain’s decentralized infrastructure, contributing to its stability and operational…

Singapore — September 10, 2024 — TRON, Tether, and TRM Labs today announced they have joined forces to establish the T3 Financial Crime Unit (T3 FCU), a first-of-its-kind initiative aimed at facilitating public-private collaboration to combat illicit activity associated with the use of USDT on the TRON blockchain. This novel collaboration brings together the anti-financial crime expertise of TRM Labs, a leading blockchain intelligence firm; the technical expertise of TRON, a leading global blockchain and DAO; and external investigations team at Tether, the largest company in the digital asset industry, to create a safer and more secure crypto community for…

The US Securities and Exchange Commission (SEC) imposed $4.68 billion in fines against crypto companies in 2024, marking the most aggressive regulatory year in the agency’s history, according to a report by Social Capital Markets. This brings the total fines levied by the regulator since 2013 to $7.42 billion, with 2024 accounting for 63% of the total. The steep rise reflects the SEC’s intensified scrutiny of the crypto sector as it seeks to enforce securities regulations in the growing digital asset market. The 2024 fines were driven by a record $4.68 billion penalty against Terraform Labs and its co-founder Do…

The Texas State Securities Board has reached a $1 billion settlement with GSB Gold Standard Corporation AG and affiliated entities, known as GSB Group, over its alleged illegal crypto offerings, according to a Sept. 9 press release. The settlement, spanning multiple states, guarantees full refunds regardless of the products or services purchased, including digital assets like the G999 token and Lydian World metaverse investments for over 800,000 investors. Settlement The settlement includes claims related to various offerings, such as the G999 token, tied to physical gold, XLT vouchers linked to a skyscraper, and staking pools in the Lydian World metaverse.…

Andre Cronje, the CTO of Sonic Labs (formerly Fantom), revealed plans for Sonic blockchain to introduce credit scores for digital wallets, according to a Sept. 9 blog post. The goal is to tap into the global unsecured lending market, which exceeds $11 trillion. Credit scores Cronje explained that credit score integration is a key advancement in blockchain technology. He stated that it would enable various traditional loan products, such as personal and payday loans, to enter DeFi. Cronje emphasized that Sonic has overcome several technological hurdles, making credit scores feasible within blockchain systems. He stated: “Credit scores are fairly simple…

The Sahm Rule, a key recession indicator, continues to signal an elevated risk of an economic downturn in the United States, adding to bearish sentiment in crypto markets already grappling with negative on-chain trends. According to a recent analysis by ETC Group (now a part of Bitwise), the Sahm Rule remains triggered, implying an imminent US recession. Created by former Federal Reserve economist Claudia Sahm, this indicator flags the onset of a recession when the three-month moving average unemployment rate rises 0.50 percentage points or more relative to its low during the previous 12 months. The latest data reveals the…

On Sept. 8, the team behind the decentralized social media protocol Friend.Tech transferred control of its smart contract to Ethereum’s null address, effectively relinquishing control of the project one year after its successful launch. In a social media post on X, the team stated: “Admin and ownership parameters have been set to 0x000…000 to prevent any changes to their fees or functionality in the future.” Despite this, the web client at Friend.Tech will continue to operate as usual. The team also clarified, “No fees from either the smart contracts or Friend.Tech currently go to the dev team multisig.” Following the…

Crypto exchange Coinbase secured a partial victory in federal court this week in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). In a filing dated Sept. 5,  the US District Court for the Southern District of New York, Judge Katherine Failla partially granted Coinbase’s motion to compel the SEC to hand over documents related to the agency’s categorization of crypto tokens as securities. In an X post, Coinbase chief legal officer Paul Grewal noted that the order would force the SEC to produce “important discovery” in the civil case. Coinbase has been embroiled in a legal…

Toncoin, a digital asset tied to Telegram, stood out in a declining market after the app’s founder, Pavel Durov, broke his silence following his arrest in France. CryptoSlate data shows that Toncoin rose by over 4% in the past 24 hours, reaching $5 before settling around $4.77 at press time. Meanwhile, top assets like Bitcoin, Ethereum, BNB, and Solana saw more than 2% losses during the same period. Despite Toncoin’s gains, IntoTheBlock data reveals that most holders are down. Around 80% of the 43 million addresses are “out of the money,” while only 9.3% of holders, or 5 million addresses,…

Charles Hoskinson, the founder of Cardano, has voiced opposition to burning the blockchain network’s over 1.5 billion ADA treasury tokens, which are worth around $500 million. On Sept. 5, Hoskinson, in a social media post on X, pointed out that the treasury assets weren’t just preprinted tokens but were generated through block production and transactions. Burning these assets, Hoskinson argued, would amount to theft from Stake Pool Operators (SPOs) and ADA holders. He stated: “The entire treasury comes from people building blocks and economic activity. You are effectively stealing from every SPO and ADA holder if you burn the treasury.” Hoskinson’s…