Crypto
Bankruptcy
BlockFi has to update wallet, platform before distributing funds
The company said it plans to complete the necessary upgrades this summer.
Banking
Bank of China subsidiary issues tokenized notes on Ethereum
BOCI issued the financial product in collaboration with UBS Group.
Exchanges
eToro ending US customers’ access to four cryptocurrencies
Starting in July, U.S. users won't be able to invest in DASH, MANA, ALGO, and MATIC.
AI
Meta previews consumer AI tools, from chatbots to photo editors to “stickers”
Many but not all of the upcoming AI tools are aimed at the public.
DAOs
Ooki DAO to pay $643K fine after CFTC’s court victory
The trading platform will also be forced to shut down its website and operations.
Regulation
Ex-SEC chair Jay Clayton says agency is having ‘blunt conversations’ on crypto; endorses ‘true stablecoins’
Clayton refused to explicitly contest the actions of his successor, Gary Gensler.
Exchanges
Crypto.com to halt US institutional exchange offering; retail users unaffected
The company's institutional exchange will also remain open outside of the U.S.
Wallets
Exodus sees Q1 revenue drop to $13M but reports high customer loyalty
The crypto wallet company said that 800,000 users persisted during the crypto winter.
Deals
BitGo to acquire 100% equity in Prime Trust parent following latter’s bankruptcy rumors
Prime Trust reduced its staff and closed its Texas operations earlier this year.
Legal
CZ denies holding firms received $12B of Binance.US user funds
The SEC claimed in a court filing that Changpeng Zhao's Merit Peak received billions in customer funds from Binance's American exchange.
Regulation
Elizabeth Warren asks DOJ to investigate Binance’s statements to Congress
Warren said that the DOJ could impose fines and imprisonment on Binance executives.
Regulation
Gary Gensler had close ties to Binance’s CZ, offered to serve as exchange advisor: lawyers
SEC chair Gary Gensler offered to serve as an advisor to Binance and kept in contact with CEO Changpeng Zhao, lawyers for the company say.