Coinbase Backs New Filing in Support of Tornado Cash

According to the case filed on April 5 in a Texas District Court, the plaintiffs, with support from Coinbase, want the OFAC to settle the first two counts from its original complaint, which was filed last September. Popular public listed exchange Coinbase is supporting the new class that seeks a reversal of the Tornado Cash … Read more

Nigerians Massively Adopt CBDC as Physical Cash Becomes Scarce

While the Nigerian legislative body is optimistic about the country’s adoption of eNaira, there is still significant work to be done to enhance the digital infrastructure for financial practices in the country. Nigeria is witnessing an increasing adoption of its Central Bank Digital Currency (CBDC) as the country’s fiat money scarcity intensifies. Almost eighteen months … Read more

Alameda Research to Sell Sequoia Interest to Abu Dhabi Sovereign Wealth Fund for $45M in Cash

FTX’s sister trading firm Alameda has agreed to sell its interest in Sequoia Capital to a UAE-based entity.  Alameda Research appears set to sell its interest in Sequoia Capital to Abu Dhabi for $45 million. According to a recent report, the FTX sister trading firm agreed to sell the Sequoia stake to the Abu Dhabi sovereign wealth fund in … Read more

Block Inc’s Cash App Records Bitcoin Impairment in Q4 2022

Like many other companies, Block invested in Bitcoin when the digital asset price was skyrocketing. Multinational technology conglomerate Block (NYSE: SQ) said the Bitcoin gross profit from its Cash App declined by 25% to $35 million in Q4 2022. According to the report, the total Bitcoin sold, which the company refers to as Bitcoin revenue, was … Read more