The Ethereum Foundation, a non-profit organization supporting the Ethereum cryptocurrency, made headlines recently by selling 1,700 ETH on October 9, 2023, through the Uniswap exchange. They exchanged this ETH for 2.7 million USD Coin (USDC) at a rate of $1,611 per coin.
Interestingly, the sale of ETH by the Ethereum Foundation had an impact on
The blockchain ecosystem is continually evolving, with platforms often updating their frameworks to offer better scalability, security, and interoperability. One such significant development that has garnered a lot of attention lately is the POL upgrade on the Polygon (formerly known as Matic) network. If you’re a developer, investor, or a cryptocurrency enthusiast, this article aims
In a universe not too far from our own, imagine stepping into a digital dimension where reality and imagination seamlessly merge. Here, your cherished digital art holds the same gravitas as a real-world Picasso, and virtual assistants evolve beyond mere code, genuinely grasping and adapting to your distinct desires. This is the Metaverse, a mesmerizing
Goodwin was excited to once again sponsor and host a client event in connection with Consensus 2023, the world’s largest, longest-running and most influential gathering that brings together all sides of the cryptocurrency, blockchain and Web3 space. Co-chairs Mitzi Chang, Grant Fondo, and Karen Ubell, in addition to Partners Jonathan Hecht, Darin See, Meghan Spillane,
Blockchain technology has been hailed as a revolutionary force that has the potential to transform virtually every industry. It’s been the fundamental technology behind some of the most groundbreaking developments in recent years, including the rise of cryptocurrencies, NFTs, and web3. These technologies have disrupted traditional industries, unlocked new possibilities for innovation, and created opportunities
On Jan. 7, Anatoly Legkodymov, founder of the cryptocurrency exchange Bitzlato, was arrested in Miami. The following day, the U.S. DOJ unsealed a complaint in federal court charging him with “conducting a money transmitting business that transported and transmitted illicit funds.” According to the DOJ, Bitzlato failed to meet U.S. regulatory safeguards, including Anti-Money Laundering
On February 28, 2023, the National Futures Association (NFA), the self-regulatory organization for U.S. derivatives market participants, submitted to the Commodity Futures Trading Commission (CFTC) for approval a new Compliance Rule 2-51: Requirements for Members and Associates Engaged in Activities Involving Digital Asset Commodities.
Compliance Rule 2-51 would impose compliance obligations in respect of
Throughout a tumultuous 2022, the digital currency and blockchain space saw a number of significant investigation, litigation, and enforcement matters as regulators continue their laser focus on the industry. Our 2022 Year in Review, authored by members of Goodwin’s leading Digital Currency and Blockchain team, recaps the most significant litigation and enforcement developments from the
In a recent client alert, Goodwin partner John Servidio and associate Adam Fovent discuss the International Swaps and Derivatives Association’s (ISDA) Digital Asset Derivatives Definitions. As ISDA CEO Scott O’Malia observed, the Digital Asset Definitions are intended to “establish an unambiguous, standardized contractual framework for digital asset derivatives under the umbrella of
I’ve been thinking lately about Bitcoin’s track record, and I’m beginning to think the Bitcoin Maximalists are on to something. Despite all the ups and downs, the Bitcoin engine has been chugging along like a champ, showing its strength and consistency through thick and thin. And with the recent market turmoil (thanks FTX), the whole