Crypto
Adoption
X has lost more than half its value since Elon Musk bought it last year
Musk originally purchased the company for more than $44 billion in October 2022; today that valuation sits at $19 billion.
AI
Non-profit linked to Stellar co-founder Jed McCaleb invests $500M in AI chips
Voltage Park plans to rent access to Nvidia chips starting in February 2024.
Legal
Bankman-Fried retakes the witness stand for cross-examination by prosecutors
The embattled former CEO once again submitted to testifying under oath about the collapse of his crypto empire.
Payments
Elon Musk says X payments will eliminate need for bank account by end of 2024
Musk said the app will handle money and securities but made no mention of crypto.
Regulation
Hester Peirce objects to SEC’s handling of LBRY case
The commissioner said the case "illustrates the arbitrariness and real-life consequences" of what she held was disproportionately severe penalization.
Legal
Sam Bankman-Fried takes the stand with jury present in second day of testimony
The FTX founder first testified on Oct. 26, but not in the presence of the jury.
AI
Biden to sign executive order regulating AI use in federal government
The U.S. president is expected to sign an order on Monday, Oct. 30, to institute guidance for vetting AI tools for government use.
Legal
Yuga Labs wins $1.6M in Bored Apes trademark infringement case
Yuga Labs announced on Oct. 26 that two individuals who infringed on its Bored Ape Yacht Club (BAYC) brand have been ordered to pay damages and halt their activities.
Legal
Why was the jury dismissed during SBF’s first round of testimony?
Observers were surprised to hear Judge Lewis Kaplan order jurors out of the room before Bankman-Fried was allowed to speak.
Taxes
Kraken to turn over select customer data to IRS after July court loss
The exchange will be required to report information on customers who transacted more than $20,000 between 2016 and 2020.
Crime
Elliptic counters WSJ report on the scale of Hamas’ crypto fundraising
The analytics firm called out newspaper for misinterpreting its data and for failing to issue a correction or clarification.
Bankruptcy
Genesis moves for early bankruptcy payouts as NYAG suit applies pressure
Genesis, Digital Currency Group, and Gemini are tangled in complex legal disputes as the NYAG looms over bankruptcy processes.