Crypto Casino Founder Richard Kim Arrested After Gambling Away Investor Funds
Richard Kim, the founder of crypto casino Zero Edge, was arrested on Tuesday following allegations that he had gambled away investors' funds.
According to an FBI complaint filed on Tuesday in the Southern District of New York, Kim "fraudulently induced investors to invest in Zero Edge, a cryptocurrency technology company he founded, and then misappropriated millions of dollars in those investors’ funds."
The FBI said Kim lost "nearly all" of the $7 million he raised from investors and charged
Crypto for Advisors: Generating Yield With Bitcoin
In today’s crypto for advisors, Todd Bendell from Amphibian Capital breaks down bitcoin yield products as a strategy to grow bitcoin holdings beyond price appreciation.
Then, Rich Rines, an initial Core DAO developer, provides guidance to Bitcoin developers in Ask an Expert.
Exclusive event alert for financial advisors: Join CoinDesk for Wealth Management Day on May 15th at Consensus Toronto. Registered wealth advisors are provided with their own day of networking and learning where they will
VanEck is bringing an actively-managed exchange-traded fund (ETF) tracking digital asset stocks to the market after receiving approval from the U.S. Securities and Exchange Commission (SEC).
The VanEck Onchain Economy ETF (NODE) will aim to hold 30-60 stocks, VanEck’s head of digital asset research Matthew Sigel, said in a post on X.The management fee will be 0.69%.
Stocks included will range among crypto exchanges, miners, data center, energy infrastructure, semiconductors, hardware, TradFi r
Ethena, Securitize Target Q2 Mainnet Launch for RWA-Focused Blockchain, Tap Arbitrum, Celestia
Decentralized finance (DeFi) protocol Ethena and tokenization firm Securitize said they will use part of Arbitrum's tech and data availability network Celestia for their real-world asset focused, Ethereum-compatible blockchain, aiming to launch mainnet in the second quarter of this year.
The Converge chain is setting out to have fast blocktimes, allowing users to pay gas fees through Ethena's USDe and USDtb, while creating security and guardrails via its Converge Validator Network, the two prot
EigenLayer Adds Key ‘Slashing’ Feature, Completing Original Vision
Almost one year to the day after Ethereum protocol EigenLayer launched its “restaking” network to unprecedented industry fanfare, the network is finally adding a core feature that was, until now, glaringly absent: “slashing.”
Eigen Labs hopes slashing — EigenLayer’s system for keeping “restakers” honest by revoking collateral if they act maliciously — will finally realize the year-old protocol’s original pitch.
“We are happy to say now that the whole promise has been delivered,” said EigenLaye
Stellar Sees $3B of Real World Assets Coming On-Chain in 2025
Stellar, a superfast and low fee-public blockchain, says it plans to hold $3 billion in real-world asset (RWA) value and power $110 billion in RWA volume by the end of 2025.
The goal set by the Stellar Development Foundation (SDF), the nonprofit that supports the development and growth of the Stellar network, is building on existing partnerships with the likes of Franklin Templeton and Wisdom Tree.
In addition, Stellar is welcoming a new round of tokenization specialists such as Paxos, Ondo, E
Lombard Finance Launches Toolkit to Unlock Bitcoin’s $154B DeFi Opportunity
Lombard Finance, a Bitcoin infrastructure developer, has launched a software development kit (SDK) that allows wallets, exchanges, and other platforms to offer one-click bitcoin (BTC) staking.
The release aims to further bring BTC into the decentralized finance (DeFi) economy by tapping into the estimated $154 billion in bitcoin estimated to be sitting idle on centralized exchanges.
The new toolkit allows users to stake BTC to mint a liquid staking token called LBTC, which can be automatically
Crypto Daybook Americas: Bitcoin Loses Allure to Gold As Economic Concerns Rise
By Francisco Rodrigues (All times ET unless indicated otherwise)
President Donald Trump’s “reciprocal tariffs” announcement earlier this month drove the economic trade policy uncertainty index to a record high and sent investors away from risk assets, which include bitcoin (BTC) and other cryptocurrencies.
Federal Reserve Chairman Jerome Powell fanned the flames late Wednesday, saying the central bank sees unemployment rising with the economy likely to slow and inflation likely to go up as "so
XRP Downside Fears Persist Despite ETF Optimism, Options Data Show
XRP might be the next cryptocurrency to get a spot ETF listing in the U.S. after bitcoin (BTC) and ether (ETH), analysts argued this week. However, the Deribit-listed options market,doesn't share this optimism.
As of the time of writing, Deribit's put options tied to XRP were pricier than calls across several timeframes, according to data source Amberdata. That's a sign of persistent downside fears.
A put option provides insurance against price drops, and traders purchase the same when looking
Bitcoin, Gold, and the Minsky Moment: Novogratz on the End of Fiscal Complacency
The "Minsky Moment" is here, according to Mike Novogratz, CEO of Galaxy Digital, in a recent interview on CNBC. Novogratz noted that tariffs are playing a key role in reshaping the global security apparatus, while President Trump’s return to the political scene is introducing fresh uncertainty into the markets.
Although equities are down roughly 10% year-to-date, Novogratz believes that’s insufficient given the scale of the global economic shifts underway. “We’re clearly in a risk-off environme
Auradine Raises $153M Series C for Bitcoin Mining, AI Data Center Networking
Auradine, a maker of computing equipment for bitcoin (BTC) mining and AI applications, said it raised $153 million in a Series C funding round.
The Silicon Valley, California-based company also formed a new business group, AuraLinks AI, focused on open-standards to address cooling requirements of next-generation AI data centers.
AI data centers and BTC mining share similarities in their operational requirements. Given the proliferation of AI in mainstream use in recent years, the subject of da
Bitcoin and U.S. Equities Show Early Signs of Fading Correlation
Wednesday’s price action between bitcoin (BTC) and U.S. equities caught investors’ attention highlighting early signs of a fading correlation between the two.
In a typical diversified portfolio, assets are expected to show little to no correlation. For example, gold has continued to hit all-time highs, setting 12 new daily records this year, demonstrating a clear dislocation from U.S. equities.
While bitcoin has often been labeled a leveraged play on the Nasdaq 100, recent trend suggest that r
Bitcoin, the Haven Crypto Bulls Hoped For, Is More a Barometer of Risk: Godbole
President Donald Trump's trade war has introduced significant volatility to financial markets since March, prompting investors to chase assets they believe provide a hedge in this turbulent environment.
What's clear: Bitcoin (BTC) is not one of them, much to the dismay of bullish investors who have long thought of the largest cryptocurrency as digital gold either as a store of value or a haven investment. The reality is that since the onset of the trade war, bitcoin has become more closely corr
Quantum Computing Group Offers 1 BTC to Whoever Breaks Bitcoin's Cryptographic Key
Project Eleven, a quantum computing research and advocacy firm, has launched the Q-Day Prize, a global competition offering 1 bitcoin (BTC) to the first team able to break an elliptic curve cryptographic (ECC) key, the cryptography which secures the Bitcoin network, using Shor’s algorithm on a quantum computer.
Shor's algorithm is a quantum computing method that efficiently factors large numbers into their prime components, theoretically allowing quantum computers to break cryptographic algorit
SOL Jumps 6%, Bitcoin Clings to $84K on Dampened Rate Cut Hopes
Crypto markets steadily rose in Asian morning hours Thursday after a sell-off the night before as Fed chair Jerome Powell dashed hopes of early rate cuts as global markets reel from the impact of newly-levied U.S. tariffs.
Bitcoin (BTC) added 2% in the past 24 hours, data from CoinGecko shows, touching nearly $84,500. Ether (ETH), XRP, dogecoin (DOGE) and BNB Chain’s BNB added between 1%-3%, with Solana’s SOL leading at 6%.
Down the pecking order, Hyperliquid’s HYPE surged 8.5% to lead gains a
Three Wallets Snag ‘Base Is for Everyone’ Tokens Before Official Announcement, Profiting $666K
Token debuts remain a contentious issue, often criticized for their poor execution that allows individuals, supposedly armed with insider information about impending launches, to profit through front-running campaigns.
The latest example is the "Base is for everyone" token announced by Coinbase's Ethereum Layer 2 solution Base on Wednesday. Three crypto wallets bought tokens ahead of the official announcement on X, resulting in significant profits, according to blockchain sleuth Lookonchain.
Republican States Pause Lawsuit Against SEC Over Crypto Authority
A federal judge agreed to pause an ongoing lawsuit between 18 state attorneys general and a decentralized finance lobbyist group against the U.S. Securities and Exchange Commission (SEC) on Wednesday, after the parties noted the SEC's new leadership.
The state AGs, all Republicans, filed the lawsuit alongside the DeFi Education Fund last November after Donald Trump's win in the 2024 presidential election. They allege that the federal securities regulator had exceeded its authority in filing law
Bitcoin Rally Short-Circuited As Fed Chair Powell Raises Stagflation Fear
A modest bitcoin rally to a possible challenge of the $86,000 level quickly reversed during U.S. afternoon trading hours on Wednesday as Federal Reserve Chairman Jerome Powell warned on the effects of President Trump's tariff regime.
"The level of the tariff increases announced so far is significantly larger than anticipated," said Powell in a speech. "The same is likely to be true of the economic effects, which will include higher inflation and slower growth."
The Protocol: Nvidia to Manufacture AI Supercomputers in U.S., New Opportunities for Crypto Miners
Welcome to The Protocol, CoinDesk's weekly wrap-up of the most important stories in cryptocurrency tech development. We’re Margaux Nijkerk and Sam Kessler, reporters on CoinDesk’s Tech team.
In this issue:
Can Ethereum Be Truly Private? Developers Push for Encrypted Mempool, Default Privacy
Nvidia Moves AI Supercomputer Production to U.S., Opening New Avenues for Crypto Miners