Author: Yeek.io

Federal judge John G. Koeltl has directed BitMEX to pay a $100 million fine, representing the latest development in an ongoing legal dispute regarding money laundering infractions in the US. BitMEX Faces Major Legal Setback The legal challenges for BitMEX stem from activities between 2015 and 2020, during which the exchange reportedly failed to adhere to the United States Bank Secrecy Act (BSA). The BSA requires financial institutions to assist government agencies in detecting and preventing money laundering.  Despite BitMEX’s attorneys arguing that a previous $110 million fine and earlier guilty pleas from the exchange’s founders were sufficient punishment, Judge…

Development of the Ethereum project has gone very well over the months since inception.  The core activity — development of the software platform — is on track and many developers around the world are starting to build small, exploratory distributed applications on the platform, even though we are still not yet in alpha release. The 5th installment of the proof of concept series will be released soon, though many community members download the developing source code, compile it and use it on a regular basis for their various activities. Other core activities include attention to legalities in different jurisdictions regarding…

New York Attorney General Letitia James is using blockchain technology to pursue anonymous crypto scammers accused of defrauding job seekers out of $2.2 million.The scammers allegedly targeted New Yorkers with fake remote work opportunities, manipulating victims into depositing stablecoins such as $USDT and $USDC into wallets they controlled.To confront the challenges of anonymity on the blockchain, James’ office is serving the lawsuit via an NFT directly airdropped into the wallets of the accused. Source: Pixabay (brandwayart)What is the lawsuit all about?The alleged scammers operated by posing as recruiters for remote work opportunities, preying on individuals seeking employment. Victims were instructed…

Freename, a multi-chain web3 namespace platform, has announced the launch of .etherlink, a new top-level domain. The launch follows the ICANN-accredited registrar’s integration with the layer-2 blockchain Etherlink, Freename said in a press release shared with crypto.news on Jan. 15. Etherlink, powered by Tezos smart rollups, operates as a permissionless L2 solution. The .etherlink rollout marks another major development in the web3 space, with the new TLD representing a significant milestone in simplifying crypto usage and boosting its global adoption. Users can leverage the integration to create and manage their web3 identities and crypto assets. Unstoppable Domains and D3 are…

Quick take: The fundraising also attracted participation from Global Digital Asset Holdings, Shopify Ventures, Kraken Ventures, Crypto.com Capital, and others It brings the total raised to $38 million according to the announcement on Wednesday. The Reown Appkit is already being used by popular decentralised finance applications Jupiter, Drift, and Marinade. Renown (formerly WalletConnect) has announced a $13 million Series B round led by Union Square Ventures and 1kx. The fundraising also attracted participation from Global Digital Asset Holdings, Shopify Ventures, Kraken Ventures, Crypto.com Capital, and others. It brings the total raised to date to $38 million according to the announcement…

As we step into 2025, the crypto ecosystem is witnessing a transformative shift, marking a new era of legitimacy and integration into the global financial system. The rapid evolution of blockchain technology and the increasing adoption of digital assets by institutions and individuals alike signal a maturing market poised for exponential growth. This momentum not only highlights the growing acceptance of cryptocurrencies as a viable asset class but also paves the way for a wave of innovative blockchain startups and decentralized solutions. However, amidst the excitement, the market’s complexity and volatility underscore the need for robust mechanisms to foster sustainable…

In the early 2020s, quantum computing hit the public spotlight as a potential threat to Bitcoin. Relying on SHA-256 cryptographic hash function for its proof-of-work network consensus, Bitcoin’s value is predicated on computational power.If there is a technology that can circumvent the traditional binary system of 0s and 1s for units of information, there is potential to upend cryptography as we know it. But is that danger over exaggerated?Could quantum computing one day turn Bitcoin into a valueless piece of code? Let’s start by understanding why Bitcoin relies on cryptography.Bitcoin’s Bits and HashingWhen we say that an image is 1…

XRP is steadily gaining strength as its price nears the critical $2.9 resistance level, sparking excitement in the market. The surge represents a significant shift in market dynamics, with XRP showing signs of resilience and a potential breakout on the horizon. Supported by growing buying interest and favorable technical signals, the altcoin is setting the stage for what could be a decisive move upward. As the asset inches closer to this pivotal level, traders are carefully monitoring its price action. A successful breakout would reinforce the bulls’ control and attract further interest, while a rejection could prompt a reassessment of…

Decentralization, n. The security assumption that a nineteen year old in Hangzhou and someone who is maybe in the UK, and maybe not, have not yet decided to collude with each other. There has been a large amount of ruckus in the past week about the issue of mining centralization in the Bitcoin network. We saw a single mining pool, GHash.io, amass over 45% hashpower for many hours, and at one point even grow to become 51% of the entire network. The entire front page of the Bitcoin reddit was ablaze in intense discussion and a rare clash of complacency…

Somnia, a Layer-1 blockchain focused on high-demand consumer applications, has unveiled a plan to bring millions of traditional gamers onto the blockchain. At the core of this strategy is Somnia’s ability to handle more than 400,000 transactions per second (TPS), a level of speed that can support those gamers without causing slowdowns. Its developers have also announced a $10 million grant program to encourage talented teams to build games and applications on the network. One of the reasons Somnia Gaming can handle large-scale games is the strong performance shown on its devnet. These tests have demonstrated super fast transaction times…