Here’s what’s in Biden framework to regulate crypto

US President Joe Biden walks from Marine One to the White House following a trip from Michigan, in Washington, US, September 14, 2022. Tom Brenner | Reuters The Biden White House has just released its first-ever framework on what crypto regulation in the US should look like — including ways in which the financial services … Read more

Ethereum’s massive software upgrade just went live — here’s what it does

Ethereum’s biggest-ever upgrade just took effect, in what industry experts are calling a game changer for the entire crypto sector. Thus far, all signs suggest the so-called merge — which is designed to cut the cryptocurrency’s energy consumption by more than 99% — was a success. The very first proof-of-stake block of transactions has finalized … Read more

The ‘Merge’ is here — last chance to buy ether before makeover

It’s time for the “merge.” The years-in-the-making, systemwide upgrade to the ethereum blockchain is set to roll out on Wednesday, marking one of the crypto sector’s most historic events to date. Leading up to the overhaul, investors have been jumping into ether, the native token to ethereum. In the past three months, ether has jumped … Read more

JPMorgan (JPM) fintech deal to acquire Renovite to battle Stripe and Block

The main entrance at JPMorgan’s headquarters in New York City. Erik McGregor | LightRocket | Getty Images JPMorgan Chase has agreed to acquire a payments startup called Renovite to fend off threats from fintech firms including Stripe and Block, CNBC has learned. The bank, a major player in the global payments arena, said that acquiring … Read more

Klarna losses triple after aggressive U.S. expansion and mass layoffs

The logo of Swedish payment provider Klarna. Thomas Trutschel | Photothek | Getty Images Klarna on Wednesday reported a dramatic jump in losses in the first half, adding to a deluge of negative news for the “buy now, pay later” pioneer. The Swedish payments firm generated revenues of 9.1 billion Swedish krona ($950 million) in … Read more

Coinbase, FTX, Binance get inquiries from Congress on crypto scams

In its first foray into the crypto sector, the House Committee on Oversight and Reform is dialing up the pressure on federal agencies and crypto exchanges to protect Americans from fraudsters. In a series of letters sent Tuesday morning, the committee asked four agencies, including the Department of the Treasury, the Federal Trade Commission, the … Read more

Web3 is in ‘chaos,’ metaverses in walled gardens: Randi Zuckerberg

“We’re really just scratching the surface of what we’re going to see [in the metaverse],” said Randi Zuckerberg, the founder and CEO of Zuckerberg Media. Wildpixel | Istock | Getty Images A smooth and “complete decentralization” of Web3 is not yet a reality, said Randi Zuckerberg, referring to a system in which users rather than … Read more

‘Forget the past three years’

Eugene Zhang, founding partner of Silicon Valley VC firm TSVC Spencer Greene, general partner of TSVC Courtesy: TSVC Eugene Zhang, a veteran Silicon Valley investor, recalls the exact moment the market for young startups peaked this year. The firehose of money from venture capital firms, hedge funds and wealthy families pouring into seed-stage companies was … Read more

Ethereum Goerli testnet merge goes live before move to proof-of-stake

Ethereum is the world’s second-biggest cryptocurrency, and it’s giving bitcoin a run for its money. getty Ethereum, the second-largest cryptocurrency by market value, just ran a final dress rehearsal ahead of a years-awaited upgrade that’s been billed as one of the most important events in the history of crypto. Since its creation almost a decade … Read more

Hackers have stolen $1.4 billion this year using crypto bridges

Mining the Worlds Second-most-valuable Cryptocurrency at Evobits IT SRL An engineer inspects Sapphire Technology Ltd. AMD graphics processing units (GPU) at the Evobits crypto farm in Cluj-Napoca, Romania, on Wednesday, Jan. 22, 2021. The worlds second-most-valuable cryptocurrency, Ethereum, rallied 75% this year, outpacing its larger rival Bitcoin. Photographer: Akos Stiller/Bloomberg via Getty Images Photographer: Akos … Read more