Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Stablecoin news
- Societe Generale–FORGE (SG-FORGE), a fully integrated and regulated subsidiary of investment banking giant Societe Generale group dedicated to digital assets, announced the launch of the EUR CoinVertible, a stablecoin pegged to Euro on the Ethereum blockchain. It will be offered to institutional clients. “It is designed to bridge the gap between traditional capital markets and the digital assets ecosystem,” it said, and “is part of with Societe Generale group’s strategy, developing initiatives in the field of digital assets in a secure and transparent framework for institutional investors, fully in line with banking, legal and regulatory standards.”
Legal news
- A US judge has consolidated three investor lawsuits against defunct crypto bank Silvergate involving the bankrupt crypto exchange FTX, Law360 reported. The three cases were brought against Silvergate by four former investors, each claiming that Silvergate helped facilitate investor fraud committed by FTX. “The Silvergate cases involve common questions of law and fact, as they name common defendants, arise from the same alleged course of conduct, and assert overlapping causes of action, such that the Silvergate cases are appropriate for consolidation,” the order said.
- Bankrupt crypto lender Voyager Digital Holdings, the Official Committee of Unsecured Creditors, and the US federal government agreed on a deal that would allow Voyager’s $1 billion plan to sell its assets to Binance.US to “move forward and go effective shortly,” per April 19 filing in a New York District Court. “The resolution is embodied in a joint stipulation providing that the appeals will continue with respect to the Plan’s exculpation provision. The Government has agreed that the Plan may move forward without such provision and will not otherwise be subject to the stay,” the Official Committee of Unsecured Creditors tweeted.
- US federal prosecutors are asking for a seven-year prison sentence for a former minority owner of the NFL‘s Minnesota Vikings who pleaded guilty to running a crypto shadow bank that lost $850 million in customer funds that it was holding for the Bitfinex exchange. Crypto Capital operator Reginald Fowler, they said, went gambling while awaiting sentencing, wasting hundreds of thousands of dollars instead of saving money to repay his victims. Fowler will be sentenced today.
- Faruk Fatih Özer, the founder of Thodex, a major Turkish crypto exchange, has been extradited to Turkey and was detained by police upon arrival in Istanbul, according to Anadolu Ajansı. He is facing charges of fraud and running a criminal organization. Wanted on a red notice, Özer was caught in Albania in August 2022.
Exchange news
- Bitget has completed its crypto registration in Lithuania. This registration will allow the company to offer crypto-related services in or from Lithuania in compliance with regional laws and regulations, said the press release. It will also enhance Bitget’s international reach, it added.
- Deribit announced the launch of zero-fee spot trading, allowing clients to buy and sell assets and simultaneously manage risk using derivatives, it said. Spot trading will start on April 24 with three pairs (BTC/USDC, ETH/USDC, and ETH/BTC), with a zero-fee structure for trading these pairs. “Because of chosen structure, there will not be any volume discounts, affiliate or partner sharing offered on this model,” the announcement added.
Investment news
- P2P.org, an infrastructure provider on Ethereum and 49 other blockchains, concluded its latest funding round and raised $23 million, led by Jump Crypto, Bybit, and Sygnum through its DAO venture fund in collaboration with SBI and Azimut, said a press release. “With this funding round, the focus will be on research and development initiatives that specifically deal with new areas of expansion, building a stronger P2P.org community, and developing easily accessible blockchain infrastructure which will provide enhanced user-experience for staking, 24/7 client support, slashing insurance and security certification,“ it said.
- Web3 payment stack provider Coinflow Labs announced the closing of its $1.45 million pre-seed round, led by Jump Crypto and Reciprocal Ventures, with participation from CMT Digital, Digital Currency Group, Gumi Cryptos, Builder Capital, Prompt Ventures, Blocktech Ventures, and various angel investors. According to the press release, the funding will enable Coinflow to further accelerate its product, software and business development initiatives, onboard new customers, and expand its team.
Gaming news
- Gaming fintech ZEBEDEE and skill-based wagering platform Guilds will be hosting Bitcoin Games Day on Saturday, April 22. Per the announcement, the event will host gamers around the world who will compete for Bitcoin (BTC) rewards worth hundreds of USD (handed out in sats) to celebrate over a decade of Bitcoin rewards in gaming. Bitcoin Games Day is the first annual community event sponsored by ZEBEDEE, Guilds, Dubbz, THNDR Games, Geyser, and several other Bitcoin gaming studios, developers, and startups, and it will encompass multiple events, tournaments, and games, they said.
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