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Lael Brainard – Vice Chairwoman of the Federal Reserve – said the latest crypto market bloodbath “highlights the urgent need” for industry regulation. She claims it must begin to comply with existing financial regulations, mirroring the views of the Securities and Exchange Commission (SEC).  Ensuring Financial Stability Brainard made her comments during a speech at the Bank of England Conference in London on Friday.  “Future financial resilience will be greatly enhanced if we ensure the regulatory perimeter encompasses the crypto…

Following the supreme court’s decision to overturn Roe v. Wade, some activists are turning to Web3 to rally support for women’s reproductive rights.  Of late, several community members have joined the fight by campaigning to generate funds and draw attention to the cause. Web3 Offerings Find a Place in Women's Rights On June 24, the US Supreme Court overturned the critical case that previously protected women’s rights to have an abortion. Since the historical ruling two weeks ago, flurries of…

As shown by data from Dune Analytics, OpenSea, the world’s top platform for non-fungible tokens, recently blacklisted a handful of big-name collections. Altogether, the marked collectibles are worth roughly $27 million. OpenSea Flags Tokens Late  Thursday, an on-chain sleuth called beetle put up a dashboard on Dune outlining relevant information regarding the blacklist. Indeed, the list featured the Bored Ape Yacht Club as well as offshoots Mutant Apes and the Bored Ape Kennel Club. Other marked projects include CloneX, Azuki,…

Troubled crypto lending platform Celsius Network is facing fraud charges in a New York state court. Reuters reported this news on July 7, noting that KeyFi Inc brought these charges against the firm. Specifically, the plaintiff accuses Celsius of running a Ponzi scheme for personal gain. KeyFi Inc, which is run by Jason Stone - a former Celsius investment manager - claims Celsius used customer deposits to rig the price of its native token, CEL. Citing “gross mismanagement of customer…

Galaxy Digital CEO Mike Novogratz revealed that he hasn’t removed his LUNA tattoo following the Terra protocol’s demise and fallout. Speaking with Squawk Box on Thursday, the CEO said the tattoo makes for a “good reminder that you’re not always right.” Novogratz had a tattoo of a howling wolf with the world ‘LUNA’ above it emblazoned across his arm in January. Both LUNA and the TerraUSD stablecoin have since collapsed to worthlessness. Terra’s downfall had a contagious impact on the…

Reddit announced it has jumped into the NFT space with the release of a series of “collectible avatars” on the polygon blockchain network. Although the word “NFT” did not appear anywhere in Reddit’s announcement, its new collectible avatars share many similarities with non-fungible tokens.  Users can Showcase Tokens as Profile Pictures According to its official release, Reddit will launch the virtual avatars in conjunction with Ethereum’s layer-2 Polygon protocol. Working with independent designers, the Reddit team pulled together a collection…

The Decentral Bank team announced in a tweet that a recent issue with its smart contract has been resolved. A bug on the platform allowed a user to mint roughly 10 trillion USN tokens for only 10 USD. Swap Errors and a Refund Bug Decentral Bank unveiled the problem after a user dubbed “pavladiv. near” attempted a token swap. The user in question tried to exchange 5 of the network’s USN tokens (roughly $5) for 5 USDT tokens. The operation was…

Philippine-based public think tank Infrawatch PH has asked the Department of Trade and Industry (DTI) to probe Binance over illegally promoting offers in the country. Infrawatch PH made this request through a letter, claiming that the exchange has been targeting Filipino users with unregistered offers. The letter, which the think tank’s Convenor, Terry Ridon, addressed to DTI Secretary Ramon Lopez, read: We would like to bring to your immediate attention the illegal sales promotion of Binance which presumably have been…

California resident Mark Young has filed a class-action lawsuit against big players in the Solana ecosystem and Multicoin Capital. Young filed the complaint in the US District Court for the Northern District of California in the past week. He claims several Solana parties illegally profited from the sale of Solana (SOL), the native token of the Solana blockchain. The filing names Solana Labs, the Solana Foundation, Solana co-founder Anatoly Yakovenko, crypto VC giant Multicoin Capital, Multicoin co-founder Kyle Samani, and…