Day: September 5, 2024

Federal Reserve Enforces Crypto Banking Regulations

The United States Federal Reserve has issued a cease and desist order to United Texas Bank due to significant deficiencies in its risk management systems. Particularly concerning its dealings with cryptocurrency clients. The order, dated September 4, 2024, comes after a Federal Reserve examination in May which highlighted critical issues in the bank’s corporate governance […]

Pump.fun and SunPump Meme Coins: A Battle of Production

In the dynamic world of cryptocurrency meme coins, Pump.fun, a Solana-based token launchpad, has recently reclaimed its statistical lead over SunPump, its Tron-based counterpart. This shift comes nearly two weeks after SunPump briefly surpassed Pump.fun in daily token creation—a lead that proved ephemeral. Recent Token Production Trends On August 21, SunPump produced 1,658 more tokens […]

Australia AI Safety Standards: Promoting Ethical AI Practices

Australia has taken a significant step in shaping the future of artificial intelligence by introducing voluntary AI safety standards. Released late Wednesday by the Australian government. These guidelines are designed to promote ethical and responsible AI use through ten foundational principles. Key Principles of the AI Standards The guidelines focus on crucial aspects such as […]

LstBTC Liquid Staking: Revolutionizing Bitcoin Utility in DeFi

The Core Foundation introduced LstBTC on Thursday, an innovative ERC-20 liquid staking token that is pegged 1:1 with Bitcoin (BTC). This new token is designed to resolve a common issue for Bitcoin holders: the need to choose between earning staking rewards and maintaining liquidity for other uses. Dual Benefits: Staking Rewards and Liquidity LstBTC allows […]

Robinhood Crypto Settlement: $3.9M for Withdrawal Issues

Robinhood’s cryptocurrency division has agreed to pay a $3.9 million settlement. Following accusations that it prevented customers from withdrawing their digital assets over a span of four years. The California Department of Justice announced this settlement on Wednesday. Marking its first public enforcement action against a crypto firm under its consumer protection mandate. Let’s understand […]