Connect with us

Crypto World

Strike wins New York BitLicense, clearing path for bitcoin financial services rollout

Published

on

Strike wins New York BitLicense, clearing path for bitcoin financial services rollout

Strike received a BitLicense and money transmitter license from the New York State Department of Financial Services, clearing the way for the bitcoin financial services firm to operate in the state.

“Receiving our BitLicense is a defining milestone for Strike,” said Jack Mallers, founder and CEO of Strike. “With our BitLicense, we can now bring that mission to New York, the global center of finance.”

Strike’s entry into New York is part of its expansion plans outlined in November 2025, when Mallers said his platform would add bitcoin-backed lending to allow users to borrow fiat currency while continuing to hold their bitcoin. The move would place Strike in a sector that saw several high-profile failures in 2022, when lenders including BlockFi, Celsius and Genesis filed for bankruptcy during the crypto market downturn.

The approval, announced Thursday, allows Strike to offer its products to individuals and businesses across New York, one of the most tightly regulated digital asset markets in the U.S. The company can now provide services that include buying and selling bitcoin, salary deposits converted into bitcoin and bill payments made from a bitcoin balance.

Advertisement

Strike can also offer tools such as recurring purchases and price-triggered orders that execute trades when bitcoin reaches a set level. Users can also convert up to 100% of direct-deposited wages into bitcoin, with conversion fees waived on deposits up to $20,000 each month.

Strike said customer bitcoin and cash balances remain held one-to-one and are not lent or used for company operations.

The license places the company under the New York State Department of Financial Services’ supervision, which includes audits, capital reserve rules and cybersecurity examinations.

Source link

Advertisement
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crypto World

Ethereum eyes faster, tougher finality with Minimmit

Published

on

What wiped out $1.7 billion?

Ethereum co-founder Vitalik Buterin backs a controversial shift from Casper FFG to Minimmit, betting that making censorship harder matters more than preserving textbook fault‑tolerance as ETH trades near $2,000.

Summary

  • Vitalik proposes replacing Ethereum’s two‑round Casper FFG finality gadget with Minimmit, which finalizes blocks in a single round.
  • The trade‑off: fault tolerance drops from 33% to 17%, but censorship resistance and recovery from bugs or attacks arguably improve.
  • The debate lands as ETH hovers around $2,000, with markets weighing whether faster, more resilient finality can justify a premium in a choppy macro tape.

Vitalik Buterin has put his weight behind one of the most sensitive changes to Ethereum’s (ETH) core: ripping out the Casper FFG finality gadget and replacing it with Minimmit, a one‑round Byzantine fault‑tolerant scheme that deliberately relaxes some purity‑theory guarantees in exchange for what he frames as more “real world” safety.

Casper today requires validators to attest twice — once to justify a block, again to finalize it — and can tolerate up to 33% of stake behaving maliciously before the system’s guarantees break. Minimmit cuts that to a single round: faster and simpler, but with formal fault tolerance falling to 17% in the current proposed parameters.

Advertisement

On paper, that looks like a downgrade. But Buterin’s thread makes a blunt argument: the worst real‑world attack is not finality reversion, it is censorship. Finality reversion creates undeniable cryptographic evidence and leads to massive slashing — millions of ETH, or billions of $, vaporized on‑chain — which makes such attacks economically absurd for any rational actor with that kind of capital. Censorship, by contrast, is messy: it forces users and developers into social coordination, soft forks, and political fights. In both the “ideal” three‑slot‑finality (3SF) model and Minimmit, an attacker needs 50% of stake to censor, but Minimmit shifts the thresholds at which an attacker can unilaterally finalize bad history, raising that bar from 67% to 83%. That, Buterin argues, maximizes scenarios where the network defaults to “two chains dueling” instead of “the wrong thing finalized” — an outcome that is chaotic but fixable.

Advertisement

The backdrop is a market that is no longer paying for narratives alone. ETH trades around $2,000, down from prior cycle highs near $4,900, with volatility elevated and macro headwinds still in play. Traders have already seen the outline of Ethereum’s “fast L1” strawmap, which aims to cut slot times from 12 seconds to as low as 2 seconds and drive finality down to single‑digit seconds using Minimmit. If this redesign sticks, Ethereum stops competing only on rollup ecosystem and DeFi liquidity and starts competing on something brutally simple: how quickly and credibly your transaction becomes irreversible. In a market where ETH is still repricing its role versus L2s and rival L1s, Minimmit is not just a consensus tweak; it is an attempt to re‑anchor the asset’s value in raw, observable user experience: click, confirm, done.

Source link

Advertisement
Continue Reading

Crypto World

Robinhood’s venture fund, which gives investors access to private companies, tanks 11% on first day

Published

on

Robinhood's venture fund, which gives investors access to private companies, tanks 11% on first day

Robinhood signage during a media event at John F. Kennedy International Airport (JFK) in New York, US, on Wednesday, March 4, 2026.

Adam Gray | Bloomberg | Getty Images

Robinhood’s Venture Fund I plunged 11% in its public market debut on the New York Stock Exchange on Friday, casting doubt on investors’ appetite for riskier investment amid swirling geopolitical tensions.

Advertisement

The fund, which is trades under the ticker RVI, offers exposure to notable private companies such as financial services firm Revolut and software company Databricks. It aims to democratize access to an area of capital markets that has often been off limits to retail investors, Robinhood CEO Vlad Tenev told CNBC’s “Squawk on the Street” on Friday.

“You have companies that are out there at valuations in the hundreds of billions, even getting into the trillions in private markets before retail investors get a chance to come in at all and this is happening more and more,” Tenev said. “We’re trying to solve this by not just opening the door to private markets but completely blowing them off the hinges so that they can never be closed.”

Retail investors can buy and sell shares of the closed-end fund, which is structured like an investment firm, much like they would shares of a traditional company.

However, the launch comes during a tough time for public markets. The major U.S. stock averages are on pace for weekly declines as traders sell equities on fears the U.S.-Iran conflict could continue longer than anticipated.

Advertisement

Robinhood Ventures Fund priced its initial public offering at $25 per share. It opened at $22 and hit a low of $21 before trading around back around $22.12.

RVI were last trading at $22.17 per share.

Source link

Advertisement
Continue Reading

Crypto World

US Senator Calls for Anti-Corruption Provisions in Crypto Bills

Published

on

US Senator Calls for Anti-Corruption Provisions in Crypto Bills

Massachusetts Senator Elizabeth Warren, one of the more outspoken voices in Congress often connecting cryptocurrencies to illicit activities, slammed the US Securities and Exchange Commission’s settlement with Tron founder Justin Sun.

In a Thursday notice, Warren accused the SEC of “giving a free pass” to Sun after he “poured $90 million” in crypto investments tied to US President Donald Trump and his family.

Sun has invested millions of dollars through token purchases in the Trump family’s crypto platform, World Liberty Financial, and the SEC settled an unrelated case against the Tron founder and his companies for $10 million.

“Justin Sun poured $90 million into Trump’s crypto ventures, and today the SEC agreed to drop its case against him,” said Warren. “The SEC should not be a lap dog for Trump’s billionaire buddies, and any crypto legislation moving through Congress must stop the President’s crypto corruption.”

Advertisement

Warren did not specifically refer to the digital asset market structure bill moving through the Senate, but the legislation has been a focus of the White House and many pro-crypto lawmakers for months after it passed the House of Representatives as the CLARITY Act. The bill, which advanced from the Senate Agriculture Committee in January, is being considered by the Senate Banking Committee, where Warren is the ranking Democrat. 

Related: Binance slams US Senate probe over Iran as based on defamatory reports

Crypto observers await markup for market structure bill

Among the issues at stake in the market structure bill include provisions on tokenized equities, ethics and stablecoin rewards. The White House has hosted three meetings between officials and representatives of the crypto and banking industries, but it was unclear as of Friday whether the discussions had made any impact on the legislation.

Advertisement

Both Trump and his son, Eric, posted to social media this week to criticize banks over their position on the market structure bill. Some banking organizations have argued that including provisions on stablecoin rewards in the legislation could undermine credit and lead to deposit flight risk.

In January, the Senate Banking Committee indefinitely postponed a markup on the market structure bill after Coinbase CEO Brian Armstrong said the exchange could not support the legislation “as written.” As of Friday, the body had not rescheduled the event, which would be necessary to address securities law concerns before a potential vote in the full Senate.

Magazine: Clarity Act risks repeat of Europe’s mistakes, crypto lawyer warns

Advertisement