Lifeboat Foundation

Feb 9 (Reuters) — (This Feb. 9 story has been refiled to add ‘U.S.’ in the first sentence to reflect the closure of the U.S. service only)

Crypto exchange Kraken agreed to shut down its U.S. cryptocurrency staking service and pay $30 million in penalties to settle U.S. Securities and Exchange Commission charges that it failed to register the program, the agency said on Thursday, in a move that could cause headaches for platforms with similar offerings.

The settlement marks the SEC’s first crackdown on staking, a common service offered at both centralized and decentralized crypto exchanges, including most of the major exchanges in the United States such as Coinbase (COIN.O) and Binance US.

Last month, the Federal Reserve rejected crypto bank Custodia’s application to join its ranks, casting doubt over whether the Office of the Comptroller of the Currency will give final approval to crypto companies Protego and Paxos’ applications for national trust bank charters.

“The U.S. government is using the banking sector to organize a sophisticated, widespread crackdown against the crypto industry,” Carter wrote.

“And the administration’s efforts are no secret: they’re expressed plainly in memos, regulatory guidance, and blog posts. However, the breadth of this plan—spanning virtually every financial regulator—as well as its highly coordinated nature, has even the most steely-eyed crypto veterans nervous that crypto businesses might end up completely unbanked, stablecoins may be stranded and unable to manage flows in and out of crypto, and exchanges might be shut off from the banking system entirely.”

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A threat actor named InTheBox is promoting on Russian cybercrime forums an inventory of 1,894 web injects (overlays of phishing windows) for stealing credentials and sensitive data from banking, cryptocurrency exchange, and e-commerce apps.

The overlays are compatible with various Android banking malware and mimic apps operated by major organizations used in dozens of countries on almost all continents.

Being available in such numbers and at low prices, allows cybercriminals to focus on other parts of their campaigns, development of the malware, and to widen their attack to other regions.

AI and large language models like ChatGPT are challenging educators and publishers regarding original content creation and what is plagiarism.

AI is the buzzword that has surpassed cryptocurrency these days. And ChatGPT is the Bitcoin equivalent in the unfolding controversy.

Despite its recent blowback, Web 3.0 offers a more interconnected and productive society.

The next significant development for the internet and all it governs is Web 3.0. To improve user experience, it will make use of artificial intelligence. In addition, blockchain technology will enable the service to be backed by decentralized networks since Web 3.0 is the fundamental framework for cryptocurrencies like Bitcoin and Ethereum. This will be a revolutionary move that might significantly influence businesses and how they function, as well as individual users. For instance, site owners won’t have to rely on larger businesses like Amazon (AWS) and Google to buy server space.

Web 2.0 – the current version of the internet – has grown overly centralized, with a small number of large technology businesses and government organizations controlling the industry. Web 3.0, which promises a decentralized online ecosystem built on the still-emerging blockchain, will be the third iteration of the internet. Web 3.0 was first coined in 2014 by a computer scientist named Gavin Wood also helped create Ethereum, the decentralized blockchain system that powers the ether coin.

Continue reading “Explained: Will Web 3.0 live up to its hype?” »

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This comes as a result of the decline in the cryptocurrency market and the failure of exchanges.

Genesis Global Capital, a cryptocurrency lender, is laying the groundwork for bankruptcy this week. Bloomberg.

The representatives of the crypto lender did not immediately respond to the requests for comment. The sources said the talks would continue and the plans could change anytime.

Continue reading “Crypto lender Genesis reportedly preparing for bankruptcy” »