Bankrupt crypto lender BlockFi issued a corrective letter to creditors disclosing that information shared was shared “prematurely” regarding a proposed reorganization plan.
In the SEC’s push to rein in the crypto sector, one question looms large: Is ETH a security? Dan Berkovitz, a former CFTC commissioner and SEC general counsel, and Colin Lloyd, a partner at law firm Sullivan & Cromwell, assess the current state of the regulatory turf war in the U.S., shedding light on some of Washington’s unanswered questions.
📜 South Korea's ruling People Power Party is pushing to expedite a bill requiring lawmakers and senior officials to disclose their cryptocurrency holdings, aiming for enforcement within two months, according to a Yonhap news report.
📋 Hong Kong's Securities and Futures Commission (SFC) will start accepting license applications for cryptocurrency exchanges from June 1, implementing rules that ban crypto "gifts" aimed at encouraging retail investments.
🐞 A bug in an upgrade to Aave V2 on the Polygon blockchain temporarily rendered $120 million inaccessible, though the funds remain safe, with a fix via a governance proposal underway.
⏱️ Crypto mining firm, Core Scientific, aiming to expedite its restructuring process, could emerge from Chapter 11 bankruptcy by September, amid mounting pressure from creditors.
📺 Crypto exchange Coinbase launched a new TV advertisement in Washington, D.C., as part of its effort to influence public opinion and policymakers about digital assets.
💸 Ashish Khosla, co-founder of Evmos, has allegedly been selling a significant amount of the project's native token following his departure, according to a statement from the Evmos team.
💼 MicroStrategy, a public company that is one of the biggest holders of Bitcoin, expressed support for the Financial Accounting Services Board's proposal allowing firms to employ fair-value accounting for cryptocurrencies on their balance sheets.
The $$$ Corner…
💰 Web3 app development platform, Sort, raised $3.5 million in a seed funding round to expand its product offerings and advance its platform for building smart contracts into Web3 apps.
🎮 Openfort, a crypto infrastructure startup, secured $3 million in seed funding to develop its "wallet-as-a-service" product aimed at reducing blockchain engagement for gamers to improve the gaming experience.
🎙️ Behind-the-scenes interviews, in which I talk with crypto experts and entrepreneurs to learn all about the latest developments in the industry.
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