Crypto News

The deal values data-labeling startup Scale AI at $29 billion, as Meta aims to catch up with rivals such as OpenAI and Google.Source link

The SEC and Ripple have moved to close the chapter on one of crypto’s longest-running legal battles, jointly filing a motion in Manhattan federal court to dissolve the injunction in their case and release the $125 million civil penalty currently held in escrow.Under the proposal, $50 million would go to the SEC, while the remaining $75 million would be returned to Ripple.The motion, filed under Federal Rules 60(b)(6) and 62.1, cites “exceptional circumstances” as grounds for reopening the final judgment, pointing to changing regulatory attitudes at the SEC and a shared desire between both parties to avoid further litigation.The move also aims to settle outstanding appeals in the Second Circuit and avoid prolonging the case into another year of courtroom...

Crypto bulls took a heavy beating on Thursday with over $1.15 billion in liquidations wiping out leveraged positions across major exchanges, marking one of the bloodiest days for crypto markets in recent months.The largest single liquidation was a bitcoin BTC long position on Binance, valued at $200 million, making it one of the biggest one-off losses in the year so far. It is unclear which trading firm or individual was behind that position, as exchanges don’t make that data public.Data from Coinglass shows over 247,00 traders were liquidated in the 24-hour span. Long traders bore the brunt, accounting for over $1 billion in losses — reflecting overly optimistic positioning after a week of bullish sentiment fueled by Circle’s high-profile IPO...

Senator Cynthia Lummis (R-WY) has introduced the Responsible Innovation and Safe Expertise (RISE) Act of 2025, a legislative proposal designed to clarify liability frameworks for artificial intelligence (AI) used by professionals. The bill could bring transparency from AI developers – stoping short of requiring models to be open source.In a press release, Lummis said the RISE Act would mean that professionals, such as physicians, attorneys, engineers, and financial advisors, remain legally responsible for the advice they provide, even when it is informed by AI systems.At the time, AI developers who create the systems can only shield themselves from civil liability when things go awry if they publicly release model cards.The proposed bill defines model cards as detailed technical documents...

DeFi Development Corp. has announced a $5 billion equity line of credit to strengthen its Solana-focused treasury and accelerate its SOL per share growth strategy, marking a major commitment to the expanding Solana ecosystem. $5 Billion Equity Line to Drive DeFi Dev Corp’s Solana Accumulation DeFi Development Corp. (Nasdaq: DFDV), the first publicly listed U.S.Source link