IOTA to undergo major mainnet upgrade to Rebased protocol in May

IOTA will implement its largest network upgrade to date on May 5, transitioning its mainnet to the new IOTA Rebased protocol.  The upgrade introduces full decentralization, staking, Layer 1 smart contract support via MoveVM, and scalability exceeding 50,000 transactions per second. The Rebased protocol replaces IOTA’s (IOTA) previous architecture with a delegated Proof-of-Stake (DPoS) model,…

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Crypto firms moving into Wall Street territory amid ‘growing synergy’

Cryptocurrency firms and exchanges are increasingly moving into Wall Street territory, launching more traditional investment offerings and showcasing the increasing connection between crypto and traditional finance (TradFi). “There’s a growing synergy between traditional financial investments and the emerging crypto space,” according to Gracy Chen, the CEO of Bitget, the world’s sixth-largest crypto exchange. “Crypto players…

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ECB flags risk of financial contagion from US crypto push

The European Central Bank (ECB) raised an alarm over potential fallout from aggressive US support for the crypto industry, warning that a surge in dollar-backed stablecoins could destabilize Europe’s financial system. According to a policy paper seen by Politico, the ECB has asked for a revision of the Markets in Crypto-Assets Regulation (MiCA) regulatory framework…

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Polygon NFTs overtake Ethereum collectibles in 7-day sales

Polygon-based non-fungible tokens (NFTs) took the top spot in digital collectible sales after surging 20% in the last seven days.  On April 22, NFT data tracker CryptoSlam showed that Polygon NFTs overtook Ethereum, reaching a $22.3 million volume in the past week. This represented 24% of last week’s overall NFT sales volume, which reached $92.9…

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XRP Named as Unregistered Security in New Lawsuit

As noted by Justin Slaughter, the VP of regulatory affairs at Paradigm,  the Ripple-linked XRP cryptocurrency was named as an unregistered security alongside a slew of other tokens in a recent lawsuit against cryptocurrency exchange giant Coinbase by Oregon Attorney General Dan Rayfield. In its statement, Coinbase argued that the Oregon AG was attempting to…

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