The Rotten State of Crypto: A Lawsuit Sheds Light on Bitcoin Fraud

The Rotten State of Crypto: A Lawsuit Sheds Light on Bitcoin Fraud

Technology

Joel Dietz, a self-described “founding member” of Ethereum, is suing Aaron Davis for allegedly swindling him out of an ownership stake in MetaMask, an Ethereum-based crypto wallet. Dietz’s lawsuit sheds light on the state of the crypto industry, which has been marred by legal battles and allegations of abuse of power. This case highlights the issue of ownership disputes within the industry and the need for transparency and accountability.

Traditional Finance Embracing Crypto: Fnality International Raises $95 Million in Series B Funding

Traditional Finance Embracing Crypto: Fnality International Raises $95 Million in Series B Funding

Business

Fnality International, a startup focused on using blockchain technology for cash transfers between financial institutions, has raised $95 million in a Series B funding round led by Goldman Sachs and BNP Paribas. With participation from other major financial institutions, this funding indicates growing interest from traditional finance in the crypto industry. Fnality has developed a private blockchain network, modeled after Ethereum, to facilitate continuous money transfers between banks. The network is on the verge of a full launch in the UK, with plans to expand to other markets. The rise of traditional finance in blockchain demonstrates the potential of crypto and decentralized finance (DeFi) to transform the financial landscape.