The Commodity Futures Trading Commission (CFTC) has penalized Falcon Labs, a Seychelles-based crypto brokerage firm, for operating as an unregistered futures commission merchant (FCM) in the US. Unregistered Activities From October 2021 to March 2023, Falcon Labs facilitated US customers’ access to digital asset derivatives trading platforms without registering with the CFTC. As an intermediary,…

Stablecoin exchange inflows have taken a nosedive, and that’s not good news for Bitcoin. Ethereum-Based Stablecoins: Low Exchange Deposits CryptoQuant’s Axel Adler Jr. noticed that Ethereum-based stablecoins are seeing fewer exchange deposits than usual. Exchange inflows track how much of a cryptocurrency is being sent to exchanges. When inflows are high, it means people are…

Ripple CEO’s Predictions In a recent interview, Ripple CEO Brad Garlinghouse suggested that Tether, the leading stablecoin issuer, could be the next target of the US government’s crackdown on crypto. He cited the downfall of FTX and Binance’s regulatory challenges as examples of the government’s growing scrutiny. Tether CEO’s Response Tether CEO Paolo Ardoino dismissed…

Leadership Shakeup Bitfarms, a Toronto-based Bitcoin mining company, has fired its CEO, Geoffrey Morphy, after he filed a $27 million lawsuit against the company. The lawsuit alleges breach of contract and wrongful termination. Bitfarms denies the claims and plans to defend itself. Nicolas Bonta, the company’s chairman and co-founder, has been named interim CEO while…

A major bank is facing lawsuits after a data breach that compromised the personal information of thousands of customers. Data Breach Details The breach occurred between April 6th and 7th, 2023, according to the bank’s website. The bank completed its review on March 29th, 2024. The breach affected customers in Washington State, with 3,044 individuals…

Ripple Labs CEO Brad Garlinghouse believes that the U.S. Securities and Exchange Commission (SEC) will ultimately lose its battle against cryptocurrency in the long run. SEC’s Actions: ‘Speed Bumps’ In a recent interview, Garlinghouse dismissed the SEC’s anti-crypto stances and enforcement actions as “speed bumps.” He believes that the SEC’s efforts will not significantly hinder…

Billionaire Mark Cuban has accused Gary Gensler, the head of the Securities and Exchange Commission (SEC), of intentionally making it impossible for crypto companies to comply with registration rules. In a social media post, Cuban said that the SEC’s actions are “destroying the crypto industry” by making it unrealistic for companies to operate legally. Costly…

A whale has sold off their altcoin holdings, losing a staggering $8.43 million as prices plunged. Ethereum, Optimism, and Arbitrum Dumped The whale sold off their positions in Ethereum (ETH), Optimism (OP), and Arbitrum (ARB), according to on-chain data from Lookonchain. The wallet addresses associated with the whale start with 0x12199 and 0xac218. Ethereum: Sold…