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Polkadot Blockchain Academy (PBA) is set to launch the crypto industry’s first educational course designed for policymakers, aiming to equip lawmakers with a deeper understanding of blockchain technology and Web3
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Polkadot Blockchain Academy (PBA) is set to launch the crypto industry’s first educational course designed for policymakers, aiming to equip lawmakers with a deeper understanding of blockchain technology and Web3
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An appellate court will also likely rule on a third legal matter over a 2022 request from Coinbase for the SEC to create “potential rules to identify which digital assets are securities.”
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Meta CEO Mark Zuckerberg’s change of heart about free speech isn’t what it seems.
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On Jan. 7, the Facebook founder said his company would “get back to our roots around free expression” by ending third-party fact-checking in the United States and “lifting restrictions” on speech.
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Less than a week later, it became clear that Zuckerberg’s commitment to free expression doesn’t include decentralized social media competitors like Pixelfed and Mastodon. When Facebook users tried to link to these platforms, they were met with “spam” notifications and their posts were purged immediately.
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This week’s Crypto Biz explores Meta’s contradictory approach to free speech and whether Zuckerberg is sincere about getting back to his roots — or whether he’s playing a game of political chess with the incoming Trump administration.
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The newsletter also explores Tether’s jarring lawsuit against Swan Bitcoin, the emerging role of institutional crypto and a looming TikTok ban in the United States.
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Meta’s commitment to free speech apparently doesn’t extend to backlinks to decentralized social media networks. According to a 404 Media report, Facebook has been actively removing links to Instagram competitor Pixelfed and Mastodon, an open-source social networking service.
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Disgruntled users took to Bluesky to complain about their posts being deleted.
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“Facebook has banned anyone from linking to Pixelfed,” said AJ Sadauskas, a Bluesky user. She said her post was deleted by Facebook “within seconds.”
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Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday. Subscribe below to stay alert.
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The United States Securities and Exchange Commission has charged Digital Currency Group (DCG) and former Genesis CEO Soichoro “Michael” Moro with misleading investors about the financial health of Genesis in the aftermath of the Three Arrows Capital (3AC) collapse.
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According to the Jan. 17 filing, DCG and Moro have agreed to pay a combined $38.5 million in civil penalties, with DCG liable for $38 million and Moro liable for $500,000.
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The settlement is the latest chapter in the legal saga of Genesis, which filed for Chapter 11 bankruptcy protection in January 2023 due to a 2022 default by Three Arrows Capital — a former borrower of Genesis.
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The collapse of 3AC sent shockwaves through the crypto industry, affecting all crypto firms exposed to the now-defunct crypto hedge fund.
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The $570 million investment plummeted by well over 99% and was worth only $670 in June 2024 — a major hit to any company’s balance sheet and ability to pay back its loans.
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Moro and DCG agreed to the civil penalties without admitting to or denying any violations of the Securities Act of 1933.
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By June 16, 2022, 3AC failed to meet margin calls from lenders and was forced to liquidate certain positions to pay back the creditors.
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Several days later, on June 27, a court in the British Virgin Islands ordered 3AC to liquidate its assets.
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