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A US federal judge rejected the SEC appeal against a judgment that favored crypto firm Ripple Labs. According to the judge, the SEC failed to prove that there was a problem with the initial decision in the case. For context, the court had previously ruled against the categorization of Ripple's cryptocurrency token sale as an illegally unregistered securities offering. The SEC can still appeal following the case's formal conclusion next April.
Bankrupt crypto lender Celsius has laid out revised plans to exit bankruptcy with $450 million in fresh funding from Fahrenheit LLC to kick off the restart. The relaunched company could then work as a "user-owned Bitcoin miner", aiming to begin repayments to users by the end of 2023. The recovery plan still needs approval from securities regulators and the bankruptcy judge. It could face opposition from some creditors who believe the new firm is overvalued.
Nova Labs, the team behind the Helium wireless network, is releasing at-home hotspots in Miami with a price tag of $250. The new hotspot rigs are part of Helium's strategy to increase data usage on Helium hotspots in the place of regular cellular data usage from providers like T-Mobile.
The OP Stack has launched its first fault proof system on the OP Goerli Testnet. The system is made up of a Fault Proof Program, a Fault Proof Virtual Machine, and a dispute game protocol, all designed to secure the network and ensure trust. The hope is that a robust fault proof system will enhance security across all OP Chains and OP Stack chains.
Longtime crypto Investor Ben Jacobs reveals his five main lessons from crypto fund investing. He emphasizes that managing risk is crucial due to liquid tokens, warns about alpha decay due to crypto's relatively small market cap, and points out that many funds fail. He highlights that fund structure plays a key role and ends on a positive note indicating that the possible returns in the current climate have never been better.
This post goes over Arbitrum grant proposals and discusses the merits of 7 different projects that applied. Four categories of grants were listed, with each category having different requirements. These applications came on the heels of Arbitrum’s announcement that it would be funding projects in the ecosystem with 50 million ARB.
This blog post discusses FriendTech and describes it as a platform that seems to transform the concept of social signaling by showcasing personal value and reputation in a quantifiable manner. Users are encouraged to engage in genuine positive behavior and discourage fraud, with implications of a reputational game. Overall, FriendTech could become a significant social layer and leaderboard, evolving into a protocol for online reputation management.
Crypto-friendly congressman, Patrick T. McHenry, is temporarily taking over as Speaker of the House following the removal of Rep. Kevin McCarthy from his leadership role. McHenry, chair of the House Financial Services Committee, has previously helped advance bills to regulate cryptocurrency. This development could be a positive for crypto regulation while McHenry maintains it, but it is uncertain how long he will remain in the position.
The SEC opposed Coinbase's motion to dismiss its case, repeating old, unsupported claims that Coinbase listed unregistered securities, a claim that Coinbase continues to refute.
Anthropic, one of the companies FTX/Alameda invested in, recently announced it was seeking a $20-$30 billion valuation, which would raise FTX/Alameda’s stake from a $500 million valuation to $3-$4.5 billion.
Take-Two's Zynga, who developed blockchain game "Sugartown," launched its first NFT collection in September and generated over $5 million in trading volume from these NFTs in the first month.
Jump Trading lost nearly $300 million with FTX's collapse, according to Michael Lewis’ new book, ‘Going Infinite’. This is just one of the many interesting details coming to light in the book about FTX and those who worked with FTX.