A federal judge dismissed the SEC’s lawsuit against HEX founder Richard Heart, citing jurisdictional limits. The ruling may impact the SEC’s ability to regulate foreign crypto projects. Federal Judge Dismisses SEC Lawsuit Against HEX Founder A federal judge dismissed the U.S. Securities and Exchange Commission’s (SEC) lawsuit against HEX founder Richard Heart on February 28,…

Coinbase has filed a FOIA request to uncover the costs of the SEC’s crypto enforcement actions, seeking transparency on taxpayer spending and regulatory efforts. Coinbase Launches FOIA Inquiry Into SEC’s Crypto Crackdown Costs Coinbase has taken legal steps to uncover the financial burden of the Securities and Exchange Commission’s (SEC) enforcement actions against the crypto…

MegaETH, an Ethereum Layer 2 (L2) scaling solution backed by Ethereum co-founder Vitalik Buterin and Dragonfly Capital, is set to launch its public testnet this week. The deployment aims to showcase its high-speed blockchain infrastructure, designed to process transactions in milliseconds. MegaETH Testnet Deployment Schedule The MegaETH Labs team has announced a phased rollout for…

Citigroup mistakenly transferred $81 trillion instead of $280, bypassing internal controls before being reversed. The incident raises concerns over banking security and oversight. Banking Giant Accidentally Transfers Trillions Instead of $280 In April 2024, Citigroup mistakenly credited a customer's account with an astonishing $81 trillion instead of the intended $280. The error initially went unnoticed,…

U.S. lawmakers introduce the Crypto ATM Fraud Prevention Act to combat rising scams. The bill mandates fraud warnings, transaction limits, and refunds for victims while holding crypto ATM operators accountable. New Bill Proposes Fraud Warnings, Transaction Limits, and Refunds for Victims U.S. lawmakers have introduced the Crypto ATM Fraud Prevention Act to combat the rising…

Raise secures $63M in funding, backed by PayPal, to expand its blockchain-based Smart Cards system, enhancing gift card security, programmability, and fraud prevention. Raise Aims to Revolutionize the Gift Card Market With Smart Cards with Paypal Chicago-based gift card marketplace Raise has secured $63 million in funding, led by Haun Ventures with participation from PayPal,…

BDACS partners with Ripple to expand institutional crypto custody in South Korea, integrating Ripple Custody for secure storage of XRP, RLUSD, and other digital assets. BDACS, South Korea’s first regulated custodian for institutional digital assets, has announced a strategic partnership with blockchain firm Ripple. This alliance aims to expand secure custody services for XRP, RLUSD,…

Bitcoin miner MARA reports a 69% revenue increase in 2024, driven by Bitcoin’s price surge and strategic expansion into AI and energy infrastructure. MARA’s Q4 Revenue Hits Record $214.4 Million Bitcoin mining firm Marathon Digital Holdings reported a 69% year-over-year revenue increase in 2024, reaching $656.4 million, compared to $387.5 million in 2023. The…

Bitcoin ETFs face $755 million in outflows over seven consecutive days, while Ether ETFs see five days of losses, reflecting bearish investor sentiment. Bitcoin and Ether ETFs Experience Continued Investor Withdrawals Bitcoin exchange-traded funds (ETFs) recorded a seventh consecutive day of outflows on Wednesday, Feb. 26, with investors pulling out a total of $755 million.…

MEXC invests $20 million in USDe to boost stablecoin adoption and DeFi innovation, launching a $1 million rewards campaign to drive user engagement. Crypto Exchange Aims to Expand DeFi Innovation with Strategic Investment of $20 Million MEXC, a global cryptocurrency exchange, has announced a $20 million investment in USDe, the Ethereum-based synthetic dollar issued by…