Algorithmic and high-frequency trading firm Jump Trading is seeking to have the class-action lawsuit against the firm moved from Illinois to a court in northern California, arguing that it would significantly speed up legal proceedings. The lawsuit was initially filed on May 9 by Taewoo Kim, individually and on behalf of others impacted by the collapse of the Terra/Luna ecosystem. Kim is represented by Selendy Gay and Robbins Geller Rudman & Dowd LLP. Jump Trading embroiled in controversy as...

Just over a year after launching its crypto unit, American independent investment bank TD Cowen has announced the shutdown of Cowen Digital, though it has not provided a clear reason why. The multinational bank launched Cowen Digital in March 2022 to provide institutional clients exposure to the crypto market via 16 crypto assets, including Bitcoin (BTC) and Ether (ETH). At the time, the firm also teased that it would launch additional services revolving around futures, derivatives and...

Binance CEO Changpeng Zhao says the firm is unlikely to buy up any banking institutions, despite a growing worry of crypto companies being debanked, including Binance’s own operation in Australia. The collapse of several United States banks this year has prompted concerns that the pool of crypto-friendly banks is shrinking. former key banking partners, Silvergate, Silicon Valley Bank, and Signature Bank have all capitulated this year. Meanwhile, down nder, Binance Australia announced a halt...

The United Kingdom could “turbocharge” its crypto sector and be an "innovation hub for the Web3 economy” as part of a vision laid out by cryptocurrency exchange Coinbase. The comments by the exchange coincide with an April 17 Sky News report that the U.K. Treasury is set to revive the Asset Management Taskforce with a focus on developing crypto regulation in collaboration with the private sector. In an April 16 blog post, Coinbase emphasized the firm is working “seriously” in the U.K. and...

Surging user activity on Ethereum layer-2 scaling solution Polygon in March saw the network become the second-largest blockchain gaming network in terms of unique active wallets (UAWs). According to the “Blockchain Games Report” published by decentralized application (DApp) analytics platform DappRadar, the number of UAWs engaging with games on Polygon hit 138,081 in March, marking an increase of 53% from February. That figure places Polygon well ahead of third and fourth-ranked Hive and BNB...