Arthur Hayes to serve 2-year probation owning up to BitMEX’s AML mishap

Bringing closure to the long-awaited judgment related to the money laundering activities over the BitMEX crypto exchange, one of the four federal district courthouses in New York reportedly sentenced two-year probation and six months of home detention to founder and ex-CEO Arthur Hayes. Arthur Hayes, along with the other BitMEX co-founders — Benjamin Delo and Samuel Reed — and the company’s first non-employee Gregory Dwyer, pleaded guilty to the Bank Secrecy Act (BSA) violations on Feb 24, admitting to “willfully failing to establish, implement and maintain an Anti-Money Laundering (AML)…

20% drop in the S&P 500 puts stocks in a bear market, Bitcoin and altcoins follow

Whoever coined the phrase “sell in May and go away” had brilliant insight and the performance of crypto and stock markets over the past three weeks has shown that the expression still rings true. May 20 has seen a pan selloff across all asset classes, leaving traders with few options to escape the carnage as inflation concerns and rising interest rates continue to dominate the headlines. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) taking on water below $29,000 and traders worry that losing…

OpenSea launches ‘Seaport’ ​​marketplace protocol allowing NFT bartering

Nonfungible token marketplace OpenSea has announced the launch of a Web3 marketplace protocol for “safely and efficiently buying and selling NFTs.” In a Friday blog post, OpenSea said the marketplace protocol, dubbed Seaport, will give users the option to obtain NFTs by offering assets other than just payment tokens like Ether (ETH). According to the platform, a user “can agree to supply a number of ETH / ERC20 / ERC721 / ERC1155 items” in exchange for an NFT, implying bartering a combination of tokens as a method of payment. In…

Web3 platform Grand Time paid $2 million in token earnings to date

Community-driven Web3 platform Grand Time said its offering – which includes a multifaceted platforms and its native token – has been gaining significant traction highlighted by impressive operational metrics. Grand Time is an ecosystem of solutions designed to make a faster and smoother transition to a decentralized economy. The gig economy platform makes use of the decentralized features of blockchain and cryptocurrency to enable freelancers and part-time workers to become financially independent through its two-sided GIG marketplace. Grand Time’s unique concept of a decentralized decimal time measurement system allows users…

Zilliqa reveals strategy to muscle in on Web3 development

Zilliqa has launched the Web3 Alliance, an organization dedicated to attracting leading “cross-industry” Web3 projects to its ecosystem. Described as an “international advisory network,” the Web3 Alliance will identify promising projects and support their development on the Zilliqa chain. Head of Investor Relations at Zilliqa, Bradley Laws, said the launch of the Web3 Alliance would lead to the expansion of Web3 projects running on Zilliqa. Laws said: “An international advisory network of scouts will not only identify, but multiply the volume of Web3 projects coming into Zilliqa.” The Web3 Alliance…