Author: Benjamin Lee
The U.S. Securities and Exchange Commission has formally ended its years-long investigation into the Zcash Foundation and will not recommend any enforcement action against the privacy-focused nonprofit, executives say. The foundation announced the conclusion of the review in a notice published Wednesday on its website. The inquiry began in August 2023 after the foundation received an SEC subpoena tied to an internal matter titled “In the Matter of Certain Crypto Asset Offerings (SF-04569).” More than two years later the regulator notified the foundation that the review is complete and that it does not intend to pursue charges or demand changes.…
Former New York City Mayor Eric Adams is in hot water after promoting a crypto asset that suffered a massive price drop shortly after its launch. Adams introduced the memecoin NYC Token as a crypto asset with a cause. “Proud to launch @buynyctoken, a new token built to fight the rapid spread of antisemitism and anti-Americanism across this country and now in New York City.” The token surged following its launch. Data from the decentralized exchange (DEX) tracker Gecko Terminal shows the coin’s price hit $0.8 before plummeting to $0.1116. “The token has since fallen over 81% from its peak…
Coinbase CEO Brian Armstrong says he can’t support a major crypto bill making its way through Congress in its current form. Armstrong says he believes the latest version of the Clarity Act is worse than the current status quo. He cites multiple key features that are a no go for the largest US crypto exchange. “After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can’t support the bill as written. There are too many issues, including: – A defacto ban on tokenized equities – DeFi prohibitions, giving the government unlimited access to your financial records and…
The crypto asset of a decentralized exchange on the Solana (SOL) network is seeing significant price gains after receiving trading support from Coinbase. Raydium (RAY) is currently trading for $1.25, up by 6.8% over the past 24 hours, following Coinbase’s announcement that the altcoin can now be traded on its platform. Says Coinbase on the social media platform X, “Spot trading for Raydium (RAY) will go live on 14 January 2026. The opening of our RAY-USD trading pair will begin on or after 9AM PT, if liquidity conditions are met, in regions where trading is supported.” The US-based crypto exchange…
Polygon Labs says it has signed definitive agreements to acquire a pair of US-regulated crypto payments firms. Polygon says it’s buying the digital asset payments platform Coinme and wallet infrastructure provider Sequence for more than $250 million. The deal aims to build the Polygon Open Money Stack to enable compliant stablecoin payments at global scale. Coinme, founded in 2014, operates fiat-to-crypto services across 48 U.S. states with money-transmitter licenses, a network of over 50,000 retail locations and enterprise APIs. It serves more than one million users and major partners. Sequence, founded in 2017, provides smart wallets, a 1-click cross-chain engine…
More than $182 million worth of USDT stablecoins have been frozen on the Tron blockchain amid suspected scam activity. In a series of alerts fshared on X by Whale Alert, blockchain trackers reported that multiple Tron-based addresses holding large USDT balances were frozen, totaling roughly $182 million. The largest single address held more than 50 million USDT, valued at about $49.9 million at the time of the freeze. Other notable frozen balances include an address holding approximately 46.1 million USDT, another with nearly 45 million USDT, one containing about 29 million USDT, and a smaller address holding roughly 12.1 million…
Coinbase CEO Brian Armstrong says a nascent crypto sector could mirror the explosive growth of stablecoins, calling the opportunity “huge” as blockchain technology continues to reduce friction in global markets. In a new discussion hosted by Goldman Sachs, Armstrong points to the rise of stablecoins as a case study. He notes that while early critics questioned the need for a digital dollar, demand surged as people in high-inflation countries sought access to dollar-denominated assets. Stablecoins also streamlined payments for trading, cross-border and business-to-business transactions, helping drive roughly $30 trillion in stablecoin payment volume over the past year. Armstrong said he believes…
Institutional investors are once again selling Bitcoin and crypto investment projects. After an opening week of inflows, digital asset products saw $454 million in outflows for the week ending January 10th, according to CoinShares. This reversed much of the $1.5 billion gains from early January, driven by fears over delayed Federal Reserve rate cuts. Bitcoin led the sell-off with $405 million in outflows, while short-Bitcoin positions shed $9.2 million. Ethereum followed, losing $116 million. Multi-asset funds dropped $21 million, Binance $3.7 million, and Aave $1.7 million. Yet, some assets bucked the trend: XRP gained $45.8 million, Solana $32.8 million, and…
Story traded at lows of around $2.12 on Monday but has since staged a sharp recovery. IP rose to above $2.65, with trading volume spiking over 400% to $198 million. Buyers may ride bullish sentiment to target $3 or higher. IP, the native token of the Story Protocol, has outperformed top altcoins in the past 24 hours. At the time of writing, the token’s price had pumped by more than 22% to its highest level since early December 2025. Other coins seeing notable gains include Monero, Canton and Aerodrome Finance. Ethereum targets $3,500 as price holds key level. Story is…
Sky token price dropped over 5% as altcoins struggled. The token could fall further amid broader market weakness. Anchorage Digital has reportedly transferred over 69 million SKY tokens. Sky (SKY), the governance asset of the decentralized Sky Protocol (formerly MakerDAO), has dropped by over 5% in the past 24 hours as major cryptocurrencies face downward pressure. After renewed uptrends in early 2026, Bitcoin has retreated to support at $90,000, Ethereum to $3,000 and XRP to around $2.15. Increased trading volume as the token faces significant downward pressure suggests there could be further downside movement. SKY price falls amid large token…