Crypto firm LevelField secures Illinois approval to buy Chicago bank

Crypto firm LevelField secures Illinois approval to buy Chicago bank

LevelField could become the first crypto-friendly FDIC-insured bank to offer crypto services after receiving approval from the Illinois financial regulator to acquire Burling Bank. Digital asset-focused fintech firm LevelField Financial said it has secured conditional regulatory approval to acquire Chicago-based Burling Bank, marking one of the most notable crypto-banking acquisitions in recent months. The move…

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Romania blacklists Polymarket for illegal crypto betting amid 0M election wagers

Romania blacklists Polymarket for illegal crypto betting amid $600M election wagers

Polymarket’s ban in Romania follows similar crackdowns in the US, France, Belgium, Poland, Singapore and Thailand, where regulators cited unlicensed gambling activity. Romania’s National Office for Gambling (ONJN) has blacklisted leading prediction market Polymarket, calling it an unlicensed gambling platform operating outside state oversight. The decision follows what regulators described as a surge in crypto-based…

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MEV driving institutions away from DeFi, costing users dearly: Crypto exec

MEV driving institutions away from DeFi, costing users dearly: Crypto exec

Broadcasting transactions before they are executed imposes a “hidden tax” on retail crypto users while alienating financial institutions. Maximal extractable value (MEV), the process of miners or validators reordering transactions in a block to extract profits, is preventing financial institutions from adopting decentralized finance (DeFi), which hurts retail users, according to Aditya Palepu, CEO of…

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