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Introduction On October 13, 2023, California passed a significant law known as the Digital Financial Assets Law. This legislation marks California's first comprehensive framework for regulating digital asset markets. The law introduces new requirements for crypto companies and others operating in the digital financial asset space. In this article, we will explore the key provisions […]

The decentralized finance (defi) market has witnessed a significant rebound, with the total value locked (TVL) surpassing the $40 billion mark. This milestone comes after a period of consolidation since mid-August, indicating a renewed surge in defi protocols. Furthermore, the top 100 defi coins are inching closer to the $50 billion threshold in market capitalization.

Worldcoin Updates Token Supply and Loan Agreements Worldcoin, a project that utilizes iris biometrics for creating a unique human identity database, announced on Sunday that it is making changes to the distribution of its circulating WLD token supply and its market maker loan agreements. The project, which was launched in July, will reduce the loan

Introduction A recent report by onchain analyst Zachxbt revealed that 4,800 bitcoins, worth $144 million, which were taken from the now-defunct darknet marketplace Abraxas, have been transferred to a bitcoin mixing service. This comes after Abraxas exit scammed in November 2015 and the bitcoins had remained untouched since then. Bitcoin Transfer from Abraxas Wallet Zachxbt

Amidst the international economic uncertainty with disputes in Ukraine and Israel, coupled with rising interest rates hinted by Jerome Powell of the Federal Reserve, the 10-year Treasury note rose to a record 5% – a level unseen since 2007. This tumultuous situation has resulted in a significant increase in gold and silver prices, aligning with

Hong Kong Updates Regulations for Virtual Asset Service Providers Hong Kong's securities regulator and central banking institution have recently updated the region's crypto policy in response to industry inquiries. The updated policy introduces additional measures to protect retail investors and restrict their access to what regulators deem as "complex products." Background Five years ago, Hong

FTX's Former General Counsel Shocked by Billions of Dollars in Secret Transfers Can Sun, the former general counsel of FTX, testified in federal court on Thursday, revealing his shock upon discovering that FTX founder Sam Bankman-Fried (SBF) had secretly transferred billions of dollars in customer funds to his hedge fund, Alameda Research. Sun told prosecutors

Economist Peter Schiff's Warnings Renowned economist and gold bug, Peter Schiff, has once again raised concerns about the state of the U.S. economy and the U.S. dollar. In a series of social media posts, Schiff highlighted the imminent arrival of a financial and economic crisis that he believes has been long overdue. While many may

Noted billionaire and investment guru Jeffrey Gundlach, fondly known as "The Bond King," has voiced his concerns about the impending danger to the U.S. dollar's reserve currency status. This risk is primarily driven by the escalating national debt. Gundlach warns, "The future of the U.S. dollar, and potentially rampant inflation, hinges on the management of

A direct conflict between Iran and Israel could have far-reaching financial implications, possibly even leading to a worldwide recession, according to economists at Bloomberg. They predict the consequences of such a conflict would include skyrocketing oil prices and a drastic drop in risk assets, which would significantly hinder global economic growth and elevate inflation. They