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Welcome to Startups Weekly — your weekly recap of everything you can’t miss from the world of startups. Want it in your inbox every Friday? Sign up here. Despite Google I/O capturing as much attention as anticipated, some startups still took their chances and shared announcements this week, while others simply had to go with…
A US judge vacated Mango Markets exploiter’s fraud convictions, ruling the DeFi protocol’s permissionless design left no room for misrepresentation. A US federal judge has vacated key fraud and manipulation convictions against Avraham Eisenberg, the trader at the center of the case involving a $110 million exploit of the decentralized exchange Mango Markets. On Friday,…
President Donald Trump’s use of the presidential seal at a $TRUMP memecoin investor dinner may violate federal law. President Donald Trump is facing scrutiny after speaking at a private event for top investors in his $TRUMP memecoin while standing behind a lectern emblazoned with the official presidential seal — a move that may violate federal…
Decentralized exchange Hyperliquid has submitted formal comments to the US CFTC supporting 24/7 perpetual derivatives trading. Hyperliquid, a decentralized perpetuals exchange operating on its own layer-1 blockchain, has submitted formal comments on 24/7 derivatives trading to the United States Commodity Futures Trading Commission (CFTC). In a May 23 X post, Hyperliquid Labs announced that it…
Companies linked to JPMorgan, Bank of America, Citigroup and Wells Fargo have discussed the possibility of jointly issuing a stablecoin, The Wall Street Journal reports. Some of the biggest banking companies in the US are reportedly exploring a team-up to launch a crypto stablecoin. Companies owned by JPMorgan, Bank of America, Citigroup and Wells Fargo…
Trung Nguyen was caught after accepting money from undercover cops, making several transactions and sending them Bitcoin in return. A US man operating what prosecutors called a “no questions asked” cash-to-Bitcoin conversion service has been sentenced to six years behind bars and was ordered to hand over millions of dollars. Boston federal court Judge Richard…
The Senate is moving ahead on crypto regulation, and some senators have invested in crypto-related companies. As the question of stablecoin regulation heats up in the US Senate, so has the issue of which members are personally invested in cryptocurrencies and cryptocurrency firms. On May 19, the Senate voted to invoke cloture and move ahead…
Idle capital will be deployed onchain into real-world asset (RWA) projects, the asset manager said. VanEck plans to launch a private digital assets fund in June targeting tokenized Web3 projects built on the Avalanche blockchain network, the asset manager said in a statement shared with Cointelegraph. The VanEck PurposeBuilt Fund, available only to accredited investors,…
The GENIUS Act will legitimize stablecoins for institutional adoption and set a precedent for other global jurisdictions, according to the managing partner of DWF Labs. Stablecoin adoption among institutions could surge as the United States Senate prepares to debate a key piece of legislation aimed at regulating the sector. After failing to gain support from…
Intel CEO Lip-Bu Tan continues to consider ways to help semiconductor giant refocus on its core business. Intel is allegedly considering selling its networking and edge unit, according to reporting to Reuters, as Tan looks to shed business divisions that aren’t considered critical. This unit builds makes chips for telecom equipment and was responsible for…