The non-custodial cross-chain swap engine connects Canton’s institutional tokenized-asset markets with liquidity and trading activity across major public blockchains. Interstice Digital has launched a cross-chain swap engine with FalconX connecting the Canton Network with Ethereum, Solana and Robinhood Chain. According to Tuesday’s announcement, the non-custodial engine allows assets to be swapped across the four networks without Interstice taking custody or executing transactions on users’ behalf. FalconX, a digital asset prime brokerage serving institutional investors, provides liquidity for the engine, which is designed to connect Canton’s institutional markets with assets and trading activity on public blockchains, giving users a route between tokenized assets on Canton and liquidity on networks such as Ethereum and Solana. Read more
A Florida representative not running for reelection who voted against the GENIUS and CLARITY Acts has endorsed a Democratic candidate, possibly leading to PAC-funded negative ads. An affiliate of political action committee (PAC) Fairshake, funded primarily by Coinbase and Ripple Labs, has poured more than $2 million into media opposing a Democratic candidate who did not appear to have taken any prominent position on digital assets before the ads were released. According to records with the Federal Election Commission (FEC) as of Tuesday, the Protect Progress PAC had spent more than $2 million on ads opposing Democratic candidate Oliver Gilbert in Florida’s 24th congressional district. Notably, no candidate in the Democratic primary appeared to have taken a strong position on digital assets as part of their campaigns before the PAC’s involvement. The Democratic candidate is running for the seat currently occupied by Representative Frederica Wilson, who, in addition to voting against the Digital Asset Market Cl...
The $33.3 million Winklevoss Capital deal expands Cypherpunk’s ZEC strategy as it targets 5% ownership of the cryptocurrency’s circulating supply. Cypherpunk Technologies is expanding its footprint in the Zcash ecosystem, launching what it says is the world’s largest Zcash mining operation after acquiring a mining fleet from Winklevoss Capital, signaling growing institutional interest in the privacy-focused network. Cypherpunk said Tuesday that it acquired the fleet through an equity-based transaction valued at $33.33 million. The mining operation is already online at facilities across the United States, producing roughly 4.2 GSol/s, or about 18% of the Zcash network’s current hashrate. If the company’s figures are accurate, the transaction gives a single publicly traded company a significant share of Zcash’s mining capacity. Read more
The multi-asset card lets US customers spend crypto and fiat and earn cashback as Kraken’s parent company expands across financial services. Kraken’s payment app, Krak, has launched a multi-asset debit card in the US, allowing customers to spend crypto and fiat while earning up to 2% cashback in dollars or Bitcoin (BTC). The card supports more than 600 currencies and assets, with holdings converted into US dollars at point of sale. A single purchase can draw from multiple balances, with users setting the order in which assets are spent, according to an announcement Tuesday. The card is issued by Lead Bank on Visa’s network and powered by Stripe Issuing, with physical and virtual versions available to eligible US customers. The company said cashback rates depend on average assets held across Krak, Kraken and Kraken Pro. Read more
Despite already serving a 12-year sentence in federal prison, Alex Mashinsky continues to explore legal avenues to vacate his conviction related to activities at Celsius. An effort by Alex Mashinsky, the former CEO of now-defunct cryptocurrency lending platform Celsius, to convince a federal court to vacate his 12-year sentence for fraud and market manipulation faces pushback from US prosecutors in the Southern District of New York (SDNY). In a Friday filing, SDNY Attorney James McDonald and Assistant US Attorney Allison Nichols said that the court should deny Mashinsky’s petition to vacate his conviction and sentence, saying that many of his legal arguments were “without merit” and pushing back against claims of ineffective assistance of counsel. The former Celsius CEO informed the court in May that he would be proceeding pro se — that is, representing himself in the case — and filed a motion to vacate, including claims about cryptocurrency exchange FTX and his former colleague, the company’s chief revenue ...