Crypto lender BlockFi announced its emergence from insolvency this week, just a few days after FTX announced that it successfully reclaimed approximately $7 billion in assets. FTX debtors, comprising FTX and affiliates, estimate that $8.7 billion has been misappropriated from customers. BlockFi has lent FTX more than $650 million, making it one of the exchange’s largest creditors, which means its customers’ repayment success is tied to FTX’s ability to recover its assets.

FTX’s new management is also carefully considering its future options, including selling the entire exchange — which includes its extensive customer base of over nine million — or partnering with another…

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Understanding impersonation scams in crypto

In impersonation scams, fraudsters pretend to be reliable individuals, exchanges or services to trick users into sending cryptocurrencies or disclosing personal information.

In the context of cryptocurrencies, due to the pseudonymous nature of cryptocurrency transactions and the level of relative secrecy they provide, impersonation scams are common. So, how do impersonation scams work in crypto? 

In the crypto world, impersonation frauds often take place in stages. Scammers sometimes impersonate famous people, influential people or trustworthy cryptocurrency platforms while creating their false…

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Ten crypto startups raised nearly $103 million this week, with the biggest pot of funds going to Blockaid.

The $33 million it raised came from a seed and Series A round. Investors included Ribbit Capital, Variant, Cyberstarts, Sequoia Capital, and Greylock Partners.

Blockaid, as the name suggests, aids in blockchain security by scanning transactions originating from wallets, as well as ones that interact with dapps and smart contracts. Its tools are also compatible with most blockchains. 

The company claims that in just the last three months it has scanned 450 million user transactions and has subsequently thwarted 1.2 million of them that were deemed malicious.

Web3 gaming had a major…

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Solana, a competitor to Ethereum’s layer-1, has demonstrated impressive strength as SOL’s price surged above $32 this week. Analysts anticipate further price gains, and VanEck has shared significant price forecasts.

A report on Solana from the asset management company VanEck has outlined diverse valuation scenarios for Solana, forecasting SOL’s price to range from a conservative $9.81 to an ambitious $3,211.28 by 2030 (in comparison, Ethereum’s target price is $11,800).

This equates to an astounding 10,600% price surge for Solana in the coming seven years. The report also delves into a potential scenario where Solana becomes the first blockchain to accommodate applications with…

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Stuart Alderoty, the Chief Legal Officer (CLO) of Ripple Labs, and the XRP community have expressed their support on the X app (formerly Twitter) for Securities Exchange Commission(SEC) Commissioner Hester Peirce’s stance against the perceived “injustice” in the LBRY lawsuit.

Alderoty showed gratitude toward Commissioner Peirce and suggested that when ongoing injustices occur in non-fraud cases, especially when consumers are still awaiting resolution for actual fraud cases, it might be necessary to disregard standard protocols and raise concerns more vocally and promptly, potentially even by submitting an amicus brief to address the issue.

The SEC Commissioner issued a dissenting…

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Google has doubled down on its artificial intelligence bets by investing another $2 billion into AI startup Anthropic, according to a new report.

Google has already invested $500 million upfront to Anthropic — a rival to ChatGPT creators OpenAI — and will pay off the remaining $1.5 billion over time, according to an Oct. 27 report by the Wall Street Journal (WSJ), which cited people familiar.

The mega-deal adds to Google’s $550 million investment into Anthropic earlier in the year.

Google Cloud also striked a multi-year deal with Anthropic a few months ago worth over $3 billion, WSJ revealed, citing a person familiar with the matter.

The news follows Amazon’s massive $4 billion…

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