Category: Crypto Flash News

Treasure DAO announces huge pivot in hopes of extending runway to February

coiner

Decentralized video game ecosystem Treasure DAO is restructuring as “a matter of survival” to extend its financial runway to at least February 2026. Treasure DAO’s chief contributor John Patten says in an April 2 video posted to X that he has resumed a leadership role and is taking a plan to the DAO to streamline operations, eliminate unnecessary costs, and center the organization around a few key projects. “I will introduce this after all of you provide your opinions at this time. I have my own thoughts, but we must…

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Greedy L2s are the reason ETH is a ‘completely dead’ investment: VC

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Ether’s (ETH) declining appeal as an investment comes from layer-2’s draining value from the main network and a lack of community pushback on excessive token creation, a crypto venture capitalist says. “The #1 cause of this is greedy Eth L2s siphoning value from the L1 and the social consensus that excess token creation was A-OK,” Castle Island Ventures partner Nic Carter said in a March 28 X post. Ether “died by its own hand” “ETH was buried in an avalanche of its own tokens. Died by its own hand,” Carter…

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Tokenized US gold could ultimately benefit Bitcoin: NYDIG

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An idea to tokenize or track US gold reserves to make their movements transparent on a blockchain won’t work in the same trustless way as Bitcoin does, but doing so could help the cryptocurrency, says a research analyst. Greg Cipolaro, global head of research at New York Digital Investment Group (NYDIG), said in a March 21 note that Trump administration officials, including Elon Musk, have floated using a blockchain to track US gold and government spending — an idea supported by crypto executives. “Here’s the thing about blockchains. They’re not…

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Bakkt stock tumbles nearly 30% after losing Bank of America and Webull

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Crypto firm Bakkt’s share price plummeted over 27% on March 18 after the company revealed that two of its largest clients, Bank of America and Webull, would not be renewing their commercial agreements. In a March 17 regulatory filing, Bakkt said it had received notice of Bank of America not renewing its commercial agreement when the deal expires on April 22. It also disclosed that the brokerage platform Webull had also decided not to renew its agreement when it ends on June 14.  Bank of America represented 17% of Bakkt’s…

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US court gives Three Arrows nod to increase its FTX claim to $1.53B

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A US bankruptcy court has authorized liquidators of defunct crypto hedge fund Three Arrows Capital (3AC) to increase their claim against collapsed crypto exchange FTX from $120 million to $1.53 billion. Chief Judge John Dorsey rejected FTX’s debtors’ argument that the amended proof of claim (POC) from 3AC liquidators was untimely and an unjust attempt to slow the bankruptcy proceedings. In a March 13 ruling in the US Bankruptcy Court for the District of Delaware, Dorsey opined that 3AC liquidators had provided sufficient notice of their claim and the possibility…

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Michael Saylor pushes US gov’t to purchase up to 25% of Bitcoin supply

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Strategy founder Michael Saylor has proposed that the United States government aims to acquire up to 25% of Bitcoin’s total supply over the next decade for its Strategic Bitcoin Reserve. “Acquire 5-25% of the Bitcoin network in trust for the nation through consistent, programmatic daily purchases between 2025 and 2035, when 99% of all BTC will have been issued,” Saylor wrote in a document titled “A Digital Assets Strategy to Dominate the 21st Century Global Economy.” Saylor reiterates to the US government, “Never sell your Bitcoin” Saylor presented the document…

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Australia’s government has no plans to establish a strategic crypto reserve

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Australia’s government is not currently considering a strategic crypto reserve, despite US President Donald Trump announcing the effort in the United States just days earlier.   US President Donald Trump announced on March 2 that the President’s Working Group on Digital Assets was directed to include XRP (XRP), Solana (SOL), Cardano (ADA), Bitcoin (BTC) and Ether (ETH) in the crypto strategic reserve. A swathe of other US states are also considering adding crypto to their balance sheets.  However, it is understood the current ruling party has no plans to establish a…

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Tether announces wallet-freezing policy for OFAC-sanctioned persons

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Stablecoin issuer Tether has announced another step toward cooperation with law enforcement and regulatory agencies by initiating a voluntary wallet-freezing policy, according to a blog post on Dec. 9.  Since Dec. 1, Tether has been offering on the secondary market controls to freeze activity connected with Sanctioned persons on the United States Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) List. Companies and individuals controlled or owned by sanctioned countries are included on the list. According to Tether, the policy will supplement existing security protocols and is a…

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Bitcoin led Charlie Shrem into a tumultuous life

coiner

Charlie Shrem paid a steep price for his place in crypto history. Major figures in the crypto world were part of his story, and his personal life was transformed as he went from online retailer to CEO of Bitcoin (BTC) exchange BitInstant and convicted felon before he was even 30. Today he is an investor and podcaster. Coming from a prominent family in Brooklyn’s Syrian Orthodox Jewish community, Shrem was on the path to becoming a rabbi from an early age. It was not an easy path, and Shrem had…

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US Deputy Treasury Secretary calls for additional tools to sanction crypto firms

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Wally Adeyemo, Deputy Secretary of the United States Treasury, said his department is looking into new sanctions tools to pursue bad actors in the crypto space, citing a recent settlement with Binance. In prepared remarks for the Blockchain Association’s Policy Summit on Nov. 29, Adeyemo said the U.S. Treasury had called on Congress to allow sanctions in which an entity could be fully cut off from the U.S. financial system. The Deputy Treasury Secretary said the move aimed to stop bad actors like the terrorist organization Hamas from “find[ing] safe…

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