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BlockFi’s interest product draws scrutiny from Alabama, Texas regulators

BlockFi’s interest product draws scrutiny from Alabama, Texas regulators

Securities regulators in the U.S. states of Alabama and Texas have set the stage for potential cease-and-desists against crypto startup BlockFi for its Interest Account product.

The post BlockFi’s interest product draws scrutiny from Alabama, Texas regulators appeared first on The Block.

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‘Flash Boys’ exchange IEX dives into DeFi through Solana-based data project

The cloud division of IEX — made famous by Michael Lewis’s 2014 book “Flash Boys” — is jumping into DeFi with Solana-based data project Pyth.

The post ‘Flash Boys’ exchange IEX dives into DeFi through Solana-based data project appeared first on The Block.

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Reddit is scaling its two Ethereum-based tokens using Layer 2 solution Arbitrum

The popular online forum is scaling its two tokens, Moons and Bricks, using a Layer 2 solution called Arbitrum.

The post Reddit is scaling its two Ethereum-based tokens using Layer 2 solution Arbitrum appeared first on The Block.

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JP Morgan greenlights wealth management advisors to take crypto fund orders

Clients of the banking giant JP Morgan will now be able to access Grayscale and Osprey’s crypto funds.

The post JP Morgan greenlights wealth management advisors to take crypto fund orders appeared first on The Block.

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Crypto trading firm GSR on track to 10x headcount as it makes US push

GSR is looking to hire recruiters to help the projects its engaged with find the right people, citing a lack of available talent.

The post Crypto trading firm GSR on track to 10x headcount as it makes US push appeared first on The Block.

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Crypto venture studio Thesis raises $21 million in Series A funding

Thesis, a crypto venture studio behind the projects like tBTC, has raised $21 million in a Series A funding round.

The post Crypto venture studio Thesis raises $21 million in Series A funding appeared first on The Block.

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Erik Voorhees on freeing ShapeShift and outmaneuvering regulations

Quick Take

  • ShapeShift CEO Erik Voorhees says that the exchange’s path to decentralization “removes some of the ability of regulations to apply.”
  • Voorhees further argues that the crypto industry should try to “outmaneuver regulations wherever possible.”
  • He sets out how the company will achieve its plan to become fully decentralized.

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Decentralized identity startup Magic raises $27 million in Series A funding from Tiger Global and others

Decentralized identity startup Magic has raised $27 million from Northzone, Tiger Global, and several others.

The post Decentralized identity startup Magic raises $27 million in Series A funding from Tiger Global and others appeared first on The Block.

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An overview of alternative consensus mechanisms

Quick Take

  • Consensus mechanisms are a key piece in any blockchain network that impacts decentralization, speed, and security.
  • The issues with popular consensus algorithms like Proof of Work and Proof of Stake have led to newer means of achieving consensus which improve upon the faults of earlier protocols. 
  • The use and development of new consensus mechanisms can allow for blockchains to reach agreement based on what they deem important in the system.

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GlobalX, subsidiary of $560 billion investment manager, files for Bitcoin ETF

New York-based ETF provider GlobalX has filed to create a bitcoin ETF, although the SEC has still not yet approved one.

The post GlobalX, subsidiary of $560 billion investment manager, files for Bitcoin ETF appeared first on The Block.

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