Cryptocurrency News

Jul 24 Crypto

Sam Altman Launches Worldcoin Crypto Project

Worldcoin, a cryptocurrency project founded by OpenAI CEO Sam Altman, launched on Monday.
The project's core offering is its World ID, which the company describes as a "digital passport" to prove that its holder is a real human, not an AI bot.
To get a World ID, a customer signs up to do an in-person iris scan using Worldcoin's 'orb', a silver ball approximately the size of a bowling ball.
Once the orb's iris scan verifies the person is a real human, it creates a World ID.

A lawsuit against Sam Bankman-Fried alleges the indicted former FTX CEO has been financing his criminal defense with $10 million in company funds.
Bankman-Fried engineered a gift of that amount to his father, legal scholar Joe Bankman, FTX lawyers say.
Bankman-Fried has pleaded not guilty over his role in what federal prosecutors allege was a multibillion-dollar fraud that led to the bankruptcy of his crypto exchange.

Ripple is confident U.S. banks will start wanting to use XRP for cross-border transactions after a judge gave the firm a partial victory in its fight against the SEC, General Counsel Stu Alderoty told CNBC.
A judge ruled that XRP, a cryptocurrency Ripple is closely associated with, was not in itself necessarily a security, in a development with major implications for the digital asset industry.
It wasn’t a total victory for Ripple, however – the judge also ruled that sales of XRP by Ripple to institutional buyers do count as unregistered sales of securities.

Coinbase retail customers in California, New Jersey, South Carolina and Wisconsin will be unable to pledge new cryptocurrency to the exchange’s staking program pending proceedings the states initiated last month challenging the service, Coinbase said Friday in a blog post.
Any cryptocurrencies that users in those states had staked before the orders were issued June 6 are unaffected, Coinbase said.

Binance plans to lay off between 1,500 and 3,000 employees through the year in response to an ongoing Justice Department probe.
A company spokesperson disputed the higher number.
The company has already laid off 1,000, the Wall Street Journal reported earlier on Friday, and this number is part of the total, CNBC’s source said.
Binance has been charged by both the SEC and CFTC with various securities and commodities violations, while founder Changpeng Zhao has downplayed concerns.