Crypto
Regulation
Rep. Patrick McHenry calls proposed crypto tax rules an ‘attack on the digital asset ecosystem’
The House Financial Services Committee chair described the proposal as overbroad and contrary to the legislation under which it is proposed.
Bankruptcy
Prime Trust lost $8M after Terra collapsed; bought $76M ETH in unrelated wallet loss
The company revealed the numbers in a new bankruptcy filing.
AI
Meta releases AI developer assistant ‘Code Llama’
The company's new artificial intelligence product is aimed at developers.
DeFi
PancakeSwap v3 launches on Ethereum layer 2 Linea
The arrival will offer higher returns for liquidity providers and lower fees for traders.
Staking
Bitstamp to end Ethereum staking for U.S. customers in September
The decision comes in the aftermath of actions by the U.S. Securities and Exchange Commission (SEC), which has scrutinized platforms offering staking services.
AI
NVIDIA reports record $13B revenue in Q2 2023 as AI tech industry booms
The company made no mention of its crypto mining chips in this quarter's report.
Regulation
SEC, DOJ file charges against creator of little-known Blazar Token
An ex-police officer ran a crypto scheme that promised to replace state pensions.
Crime
Tornado Cash co-founders charged by DOJ; one sanctioned by U.S. Treasury while the other arrested by FBI
Roman Storm and Roman Semenov both face charges but only Storm has been apprehended.
Crime
Nate Chastain sentenced to three months for insider trading at OpenSea
Chastain will also pay a $50,000 fine and surrender any ill-gotten crypto gains.
DeFi
Balancer announces $27M may be at risk due to vulnerability in DeFi pools
The vulnerability has not yet lead to any actual loss, but the project disclosed that some funds may remain at risk.
Legal
Sam Bankman-Fried pleads not guilty as lawyers complain about neglected vegan diet, prescription medications
Lawyers also pressed for conditions that will to allow Bankman-Fried to more easily access the Internet to review evidence.
Stablecoins
Circle and Coinbase to dissolve Centre; USDC will remain fully available
The stablecoin will be introduced to six more blockchains this fall.