Author: GT

WASHINGTON (AP) — The Justice Department is disbanding a team of prosecutors who targeted cryptocurrency crimes and is shifting its focus away from complex crypto-related cases involving banking and securities law, according to a memo reviewed by The Associated Press. “The Department of Justice is not a digital assets regulator,” Deputy Attorney General Todd Blanche said in a memo sent to prosecutors Monday.It’s the latest move by the Trump administration to try to boost the cryptocurrency industry while undoing the Biden administration’s efforts to crack down on wrongdoers in the industry. The Trump administration’s effort has included a similar shift…

The crypto market’s relief rally fizzled out on Tuesday as stocks gave up big early gains and turned lower alongside the Trump administration’s plan to imminently enforce punitive tariffs against China. After staging a brief rally to the $80,000 mark, bitcoin (BTC) had slumped back to $76,500 before stabilizing below $78,000. Recently, the top cryptocurrency was down 1.2% in the last 24 hours, while ether (ETH) lost nearly 4% over the same period and fell below $1,500. The CoinDesk 20 — an index of the top 20 cryptocurrencies by market capitalization, except for stablecoins, memecoins and exchange coins — was…

Apple is considering importing more iPhones from India to sidestep the 54% additional tariffs on goods imported from China that U.S. president Donald Trump announced last week, the Wall Street Journal reported, citing anonymous sources. The company sees this as a short-term measure while it seeks to negotiate with the Trump administration to get an exemption from the tariffs, as it doesn’t yet want to revamp its supply chain built around China, the report said. Compared to the new 54% tariffs on Chinese-made goods, the U.S. has proposed a 26% tariffs on goods imported from India. If the tariffs aren’t…

Billing itself as “Stripe for emerging markets,” Turkish fintech Sipay has raised a $78 million Series B funding round, claiming a valuation of $875 million in the process. This round is significant, as Sipay plans to expand into markets outside of Turkey, offering additional services like remittances that Stripe currently does not offer in those regions. The all-equity round was led by U.S.-based Elephant VC, with participation from Revolut co-founder Nik Storonsky’s VC firm, QuantumLight. Founded in 2019, Sipay operates an all-in-one app for managing digital wallets, investments, and loyalty schemes, and offers embedded finance, FX transactions, and other products.…

In one of the largest deals in the crypto space to date, crypto payments company XRP, to integrate a broader range of services that will attract large institutions, CEO Brad Garlinghouse told Fortune. “Ripple needs to make sure we have the infrastructure in place to appeal and expand to a larger segment of the biggest bulge bracket institutions,” he said. The deal consisted of mostly cash as well as XRP and stock, Garlinghouse said. The acquisition will close in the coming months pending regulatory approval, and Hidden Road founder Marc Asch will stay on to head the prime broker at…

Meta is introducing Teen Accounts to Facebook and Messenger. The feature, which automatically enrolls young users into an app experience with built-in protections, will be available on these platforms in the U.S., U.K., Australia, and Canada before expanding to additional regions in the future. Teen Accounts first rolled out to Instagram last September after Instagram and other popular social networks were grilled by U.S. lawmakers for not doing enough to protect teens. As part of Tuesday’s announcement, Meta said it’s bringing new built-in protections for Teen Accounts on Instagram. With the expansion to Facebook and Messenger, teens will automatically be placed into…

Ben Leventhal is a veteran of the restaurant industry. He cofounded the food publication Eater in 2005. He helped found and lead the restaurant reservation platform Resy, which American Express acquired in 2019. And, in 2022, the serial entrepreneur raised $11 million to found Blackbird, a blockchain-based app for restaurants. On Tuesday, his company Blackbird Labs announced its newest tranche of funding: $50 million in a Series B round led by Silicon Valley investor Spark Capital. Other participants were Coinbase, a16z crypto, Union Square Ventures, and Amex Ventures. The raise was for company equity along with token warrants, or allocations…

The UK government has announced the first meeting of a new AI Energy Council aimed at ensuring the nation’s AI and clean energy goals work in tandem to drive economic growth. The inaugural meeting of the council will see members agree on its core objectives, with a central focus on how the government’s mission to become a clean energy superpower can support its commitment to advancing AI and compute infrastructure. Unveiled earlier this year as part of the government’s response to the AI Opportunities Action Plan, the council will serve as a crucial platform for bringing together expert insights on…

Department of Justice Headquarters in Washington, D.C. on April 18, 2022.Kent Nishimura | Los Angeles Times | Getty ImagesThe U.S. Justice Department abruptly shut down its National Cryptocurrency Enforcement Team, signaling a major shift in how the federal government will handle crypto-related crimes going forward, according to a memo sent Monday night by Deputy Attorney General Todd Blanche.In it, Blanche outlines a decentralized approach in which U.S. attorney’s offices will now take the lead on digital asset cases, focusing primarily on crimes involving terrorism.Going forward, the document said efforts would now focus on “prosecuting individuals who victimize digital asset investors,…

Dark kitchens — also referred to as ghost kitchens, cloud kitchens, or virtual kitchens — often receive criticism for their food quality. Sizl, a cook-to-order delivery service based in Chicago, seeks to change this perception by delivering meals made with fresh ingredients in around 30 minutes flat. The company announced its recent $3.5 million seed round on Tuesday, at a $12 million post-money valuation. Unlike typical dark kitchens, which serve as shared spaces for various restaurants, Sizl says it runs its own kitchens with a small team of Ukrainian cooks and local culinary talent from Chicago who prepare the food.…