Lambda(LAMB)

According to court documents, Chirag Tomar used his ill-gotten gains to buy Rolexes, Lamborghinis, Porches and more.

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The freezing of crypto assets destined for the trucker protests had been lambasted by civil liberties advocates and others at the time.

The latest Dynamic Lambda upgrade on the Algorand blockchain has successfully sped up the process by shaving off 20% of the block time.

Crypto industry commentators are lambasting Jamie Dimon after JPMorgan was named by BlackRock as its authorized participant for the asset manager’s yet-to-be-greenlighted spot Bitcoin exchange-traded fund (ETF)...

Majority whip of the U.S. House of Representatives, Tom Emmer, has lambasted the Treasury Department’s recommendations for more control over crypto. He has also criticized CBDCs, calling them “surveillance tools.”

CoinFLEX creditors claim former CEO Mark Lamb and the OPNX exchange “misappropriated” their assets in a court filing.

The infleuncer formerly known as Bitboy has filed a lawsuit against several executives at his former employer alleging threats and coercion, and is asking for his Lamborghini back.

A verdict in the SBF trial could come before the end of Thursday – on the first anniversary of the CoinDesk scoop that caused his empire to crumble.

CoinFLEX CEO Mark Lamb breached his fiduciary duty when he created a new company, OPNX, with the founders of failed crypto hedge fund Three Arrows Capital, creditors argue. They are also critical of a deal Lamb struck with early BTC evangelist Roger Ver.

Armstrong was caught live on stream trying to recover his allegedly stolen Lamborghini.

Crypto influencer Ben “BitBoy” Armstrong has been arrested following a livestream outside the house of Carlos Diaz, a former business partner.

According to a notice published by the regulatory authority, Dubai’s Virtual Asset Regulatory Authority has hit digital asset exchange OPNX and its founders nearly $2.8 million. The crypto bankruptcy claims exchange and its founders, Su Zhu, Kyle Davies, and Mark Lamb, were formally reprimanded by VARA in May. A Hefty Fine According to the notice published by Dubai’s Virtual Asset Regulatory Authority, a fine of 10,000,000 United Arab Emirates dirhams ($2.7 million) was issued against Open Technology Markets (OPNX) for violating several rules related to advertising, promotions, and marketing. The regulatory body stated in its notice, “Further to Virtual Assets Regulatory Authority’s (VARA) previous notices dated the 12th of April 2023 and the 27th of April 2023 regarding the conduct of Open Technology Markets Ltd. [trading as OPNX and opnx.com], VARA has issued the following fines. AED 10,000,000 against OPNX for a Market Offence under Regulation VIII.A.3 of the Virtual Assets and Related Activities Regulations 2023 (Regulations). This fine was issued on the 2nd of May 2023 and remains unpaid at the time of publication of this notice.” Dubai’s Virtual Asset Regulatory Authority also stated that the fine was issued on the 2nd of May, 2023, and remains unpaid as of the 16th of August, when the notice was published. The regulatory body also issued separate fines of 200,000 United Arab Emirates dirhams ($54,451) on Davies, Mark, and Lamb. This fine was for failing to meet advertising and marketing standards set by the regulator. According to the notice, all three have paid the second fine in full. “AED 200,000 against each of the following 4 persons: OPNX founders Kyle Davies, Su Zhu, and Mark Lamb and OPNX CEO Leslie Lamb. The fines are for violations of Administrative Order No. 01/22 Relating to Regulation of Marketing, Advertising, and Promotions Related to Virtual Assets [failure to ensure marketing meets the requirements of paragraph II.1 and/or II.5 of the Marketing Regulation]. The fines were issued on the 2nd of May 2023 and have been fully paid by the individuals in question.” Further Action? The fines issued by the Virtual Asset Regulatory Authority are the biggest fines the regulator has issued to date. The regulatory body noted that all fines were referred to its grievance committee and were in accordance with all governance requirements. The committee determined that enforcement actions against OPNX and its founders should be upheld in their entirety. “All fines noted above were referred to Vara’s grievance committee in accordance with due governance requirements. The committee reviewed the referral of the grievance and determined that the enforcement actions taken be upheld in their entirety.” The regulator also hinted at further action against OPNX in a bid to recover payments and could potentially see the matter being referred to law enforcement agencies or competent courts. “Vara shall determine consequential actions warranted against Opnx, which may include further fines, penalties, and/or taking any actions necessary to recover payment and definitively remedy the behavior including, but not limited to, referring the matter to any law enforcement agency (ies) or competent courts.” The Controversial OPNX Exchange OPNX was set up and launched by the founders of the failed crypto hedge fund Three Arrows Capital (3AC), Kyle Davies and Su Zhu. The platform was created following the downfall of Three Arrows Capital, with Zhu and Davies heavily criticized for starting the project. The platform allows investors to trade bankruptcy claims for platforms such as CoinFLEX and FTX. The exchange conducted less than $2 worth of trades as it stumbled into a launch, with major trading firms claimed to be investors by OPNX denied their involvement. The cryptocurrency sector has endured a difficult 2022, with several major projects and entities collapsing, while hacks and other threats have also led to investor interest cooling. The most notable collapse was that of the Sam Bankman-Fried-led FTX, which filed for bankruptcy in November. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

According to a notice published by the regulatory authority, Dubai’s Virtual Asset Regulatory Authority has hit digital asset exchange OPNX and its founders nearly $2.8 million. The crypto bankruptcy claims exchange and its founders, Su Zhu, Kyle Davies, and Mark Lamb, were formally reprimanded by VARA in May. A Hefty Fine According to the notice published by Dubai’s Virtual Asset Regulatory Authority, a fine of 10,000,000 United Arab Emirates dirhams ($2.7 million) was issued against Open Technology Markets (OPNX) for violating several rules related to advertising, promotions, and marketing. The regulatory body stated in its notice, “Further to Virtual Assets Regulatory Authority’s (VARA) previous notices dated the 12th of April 2023 and the 27th of April 2023 regarding the conduct of Open Technology Markets Ltd. [trading as OPNX and opnx.com], VARA has issued the following fines. AED 10,000,000 against OPNX for a Market Offence under Regulation VIII.A.3 of the Virtual Assets and Related Activities Regulations 2023 (Regulations). This fine was issued on the 2nd of May 2023 and remains unpaid at the time of publication of this notice.” Dubai’s Virtual Asset Regulatory Authority also stated that the fine was issued on the 2nd of May, 2023, and remains unpaid as of the 16th of August, when the notice was published. The regulatory body also issued separate fines of 200,000 United Arab Emirates dirhams ($54,451) on Davies, Mark, and Lamb. This fine was for failing to meet advertising and marketing standards set by the regulator. According to the notice, all three have paid the second fine in full. “AED 200,000 against each of the following 4 persons: OPNX founders Kyle Davies, Su Zhu, and Mark Lamb and OPNX CEO Leslie Lamb. The fines are for violations of Administrative Order No. 01/22 Relating to Regulation of Marketing, Advertising, and Promotions Related to Virtual Assets [failure to ensure marketing meets the requirements of paragraph II.1 and/or II.5 of the Marketing Regulation]. The fines were issued on the 2nd of May 2023 and have been fully paid by the individuals in question.” Further Action? The fines issued by the Virtual Asset Regulatory Authority are the biggest fines the regulator has issued to date. The regulatory body noted that all fines were referred to its grievance committee and were in accordance with all governance requirements. The committee determined that enforcement actions against OPNX and its founders should be upheld in their entirety. “All fines noted above were referred to Vara’s grievance committee in accordance with due governance requirements. The committee reviewed the referral of the grievance and determined that the enforcement actions taken be upheld in their entirety.” The regulator also hinted at further action against OPNX in a bid to recover payments and could potentially see the matter being referred to law enforcement agencies or competent courts. “Vara shall determine consequential actions warranted against Opnx, which may include further fines, penalties, and/or taking any actions necessary to recover payment and definitively remedy the behavior including, but not limited to, referring the matter to any law enforcement agency (ies) or competent courts.” The Controversial OPNX Exchange OPNX was set up and launched by the founders of the failed crypto hedge fund Three Arrows Capital (3AC), Kyle Davies and Su Zhu. The platform was created following the downfall of Three Arrows Capital, with Zhu and Davies heavily criticized for starting the project. The platform allows investors to trade bankruptcy claims for platforms such as CoinFLEX and FTX. The exchange conducted less than $2 worth of trades as it stumbled into a launch, with major trading firms claimed to be investors by OPNX denied their involvement. The cryptocurrency sector has endured a difficult 2022, with several major projects and entities collapsing, while hacks and other threats have also led to investor interest cooling. The most notable collapse was that of the Sam Bankman-Fried-led FTX, which filed for bankruptcy in November. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

OPNX CEO Leslie Lamb and executives Kyle Davies, Su Zhu and Mark Lamb were all issued a $58,000 fine for violating marketing regulations in the emirate.

OPNX, the newly launched crypto exchange by founders of the now-defunct Three Arrows Capital (3AC), has reportedly launched a bid to take over struggling crypto lender Hodlnaut. If the bid is approved, the deal could see an injection of around $30 million worth of FLEX tokens into Hodlnaut. A White Knight Investor For Hodlnaut? According to a report in Bloomberg, the OPNX exchange has made an offer to acquire 75% of the struggling crypto lender. The bid comes at a critical time for Hodlnaut, which is undergoing a restructuring plan under the supervision of a Singapore court. The deal would see a significant capital injection into Hodlnaut and would partially cover outstanding claims and creditor payouts. If the deal is approved, creditors will receive 30% of their claims in FLEX tokens and other cryptocurrencies. This offer also gives them a direct stake in the future potential of the entity being acquired. Alternatively, creditors also have the choice of opting for a pro-rata payment, allowing them to recover about 95% of the available corporate asset pool. According to OPNX, this option prioritizes the immediate financial recovery and stability of creditors. However, the bid is subject to approval from Hodlnaut’s creditors, who effectively hold the fate of the acquisition in their hands. The creditors’ decisions could also have a significant impact on the larger crypto-lending ecosystem. Unclear If Deal Goes Through So far, it remains to be seen if Hodlnaut’s creditors will accept the deal. Back in April, a significant majority of the struggling crypto lender’s creditors indicated their desire to liquidate the company. In a letter from the interim judicial manager (IJM), users representing 55.38% of creditors having claims of around 228.3 million Singaporean dollars ($170 million) have indicated that they prefer liquidation rather than restructuring. However, at the time, there was no source of fresh capital for the company. “There appears to be no indication of a white knight investor to date, and hence no prospect of any fresh capital injection.” Meanwhile, only users with around 2.42% of claims supported looking into the restructuring option. However, all of these claims belonged to company directors. A mediation proposal was also opposed by the major creditors of the company, including Samtrade Custodian and SAM Fintech, and the Algorand Foundation. Algorand has a $35 million exposure to Hodlnaut. The Hodlnaut Fiasco Hodlnaut halted all withdrawals in August 2022, as the turmoil in the crypto markets led to a significant liquidity crisis for the crypto lender. Eventually, the company entered into judicial management, temporarily protecting it against legal action. Following this, the company entered into a court-based restructuring process, shedding light on the extent of its financial difficulties. The company had stated at the time, “We are aiming to avoid a forced liquidation of our assets as it […] will require us to sell our users’ cryptocurrencies such as BTC, ETH, and WBTC at these current depressed asset prices.” With Hodlnaut struggling with the complexities of financial rehabilitation and creditor interests, founders Zhu Juntao and Simon Lee proposed selling the business as an alternative to liquidation, arguing it would result in a more favorable outcome for creditors. Furthermore, regulatory concerns have also compounded troubles, with figures associated with Hodlnaut and OPNX facing reprimands in Dubai for operating OPNX without the necessary local licenses. The OPNX Exchange And Its 3AC Connection The FLEX token is the native token of the CoinFLEX exchange, founded by Sudhu Arumugam and Mark Lamb. Arumugam and Lamb are also the co-founders of OPNX, a crypto claims trading marketplace. Other co-founders of OPNX include Kyle Davies and Su Zhu, who founded the now-bankrupt crypto hedge fund Three Arrows Capital. Creditors are pursuing both Zhu and Davies in the US over bankruptcy proceedings. The legal team representing creditors filed a motion urging that Davies be held in contempt of court for wilfully ignoring a subpoena connected to the firm’s bankruptcy proceedings. Creditors have alleged that Davies is purposely delaying asset recovery. However, the motion does not apply to co-founder Su Zhu, who, thanks to his Singaporean nationality, is not subject to the jurisdiction of US courts. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

OPNX, the newly launched crypto exchange by founders of the now-defunct Three Arrows Capital (3AC), has reportedly launched a bid to take over struggling crypto lender Hodlnaut. If the bid is approved, the deal could see an injection of around $30 million worth of FLEX tokens into Hodlnaut. A White Knight Investor For Hodlnaut? According to a report in Bloomberg, the OPNX exchange has made an offer to acquire 75% of the struggling crypto lender. The bid comes at a critical time for Hodlnaut, which is undergoing a restructuring plan under the supervision of a Singapore court. The deal would see a significant capital injection into Hodlnaut and would partially cover outstanding claims and creditor payouts. If the deal is approved, creditors will receive 30% of their claims in FLEX tokens and other cryptocurrencies. This offer also gives them a direct stake in the future potential of the entity being acquired. Alternatively, creditors also have the choice of opting for a pro-rata payment, allowing them to recover about 95% of the available corporate asset pool. According to OPNX, this option prioritizes the immediate financial recovery and stability of creditors. However, the bid is subject to approval from Hodlnaut’s creditors, who effectively hold the fate of the acquisition in their hands. The creditors’ decisions could also have a significant impact on the larger crypto-lending ecosystem. Unclear If Deal Goes Through So far, it remains to be seen if Hodlnaut’s creditors will accept the deal. Back in April, a significant majority of the struggling crypto lender’s creditors indicated their desire to liquidate the company. In a letter from the interim judicial manager (IJM), users representing 55.38% of creditors having claims of around 228.3 million Singaporean dollars ($170 million) have indicated that they prefer liquidation rather than restructuring. However, at the time, there was no source of fresh capital for the company. “There appears to be no indication of a white knight investor to date, and hence no prospect of any fresh capital injection.” Meanwhile, only users with around 2.42% of claims supported looking into the restructuring option. However, all of these claims belonged to company directors. A mediation proposal was also opposed by the major creditors of the company, including Samtrade Custodian and SAM Fintech, and the Algorand Foundation. Algorand has a $35 million exposure to Hodlnaut. The Hodlnaut Fiasco Hodlnaut halted all withdrawals in August 2022, as the turmoil in the crypto markets led to a significant liquidity crisis for the crypto lender. Eventually, the company entered into judicial management, temporarily protecting it against legal action. Following this, the company entered into a court-based restructuring process, shedding light on the extent of its financial difficulties. The company had stated at the time, “We are aiming to avoid a forced liquidation of our assets as it […] will require us to sell our users’ cryptocurrencies such as BTC, ETH, and WBTC at these current depressed asset prices.” With Hodlnaut struggling with the complexities of financial rehabilitation and creditor interests, founders Zhu Juntao and Simon Lee proposed selling the business as an alternative to liquidation, arguing it would result in a more favorable outcome for creditors. Furthermore, regulatory concerns have also compounded troubles, with figures associated with Hodlnaut and OPNX facing reprimands in Dubai for operating OPNX without the necessary local licenses. The OPNX Exchange And Its 3AC Connection The FLEX token is the native token of the CoinFLEX exchange, founded by Sudhu Arumugam and Mark Lamb. Arumugam and Lamb are also the co-founders of OPNX, a crypto claims trading marketplace. Other co-founders of OPNX include Kyle Davies and Su Zhu, who founded the now-bankrupt crypto hedge fund Three Arrows Capital. Creditors are pursuing both Zhu and Davies in the US over bankruptcy proceedings. The legal team representing creditors filed a motion urging that Davies be held in contempt of court for wilfully ignoring a subpoena connected to the firm’s bankruptcy proceedings. Creditors have alleged that Davies is purposely delaying asset recovery. However, the motion does not apply to co-founder Su Zhu, who, thanks to his Singaporean nationality, is not subject to the jurisdiction of US courts. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Ripple chief Brad Garlinghouse, who described the Torres ruling as "an unequivocal win for Ripple and for crypto in the U.S.," separately lambasted the SEC's endeavours to be the primary regulator of crypto assets.

Ripple's chief executive has spoken out about the U.S. SEC and “the mess” it has made of the regulatory situation for digital assets.

Paris, France, July 10th, 2023, ChainwireLeveraging its successful $4.5m fundraising, Swaap launches its v2 protocol, bringing easy-to-use and powerful market-making strategies to the global DeFi community. Swaap v2 is unique in addressing key challenges such as impermanent loss which have plagued Liquidity Providers.Swaap, the cutting-edge market-making protocol for blue-chip crypto assets, is thrilled to announce the launch of its v2 protocol. With an emphasis on ease of use, state-of-the-art strategies, strong security, and solutions to impermanent loss, Swaap v2 is poised to democratize access to advanced market-making tools for the global DeFi community.What Sets Swaap v2 Apart: Making Market Making EffortlessFor the first time ever, Swaap v2 offers anyone - from institutions to individuals - a seamless way to engage in advanced market-making strategies. The protocol uses mathematically optimized strategies, which means it intelligently adjusts fees and asset holdings to maximize returns while minimizing risks, all on autopilot. Importantly, Swaap v2 addresses impermanent loss, a problem that has deterred many from participating as liquidity providers.Stanislas Barthélémi, an early user of Swaap v2, shares: “As someone who was an LP in traditional Automated Market Makers but was burned by Impermanent Loss, Swaap v2 has been a game-changer for me. It's like having an expert trader working for you around the clock.”The Tech Behind Swaap v2With models built in collaboration with the Louis Bachelier Institute, a leading financial research institute, Swaap v2 brings the best of traditional financial market-making models to DeFi. It incorporates strategies that intuitively adapt to market conditions, safeguarding funds while optimizing returns. Moreover, liquidity providers can effortlessly engage with a wide array of assets across the Polygon and the Ethereum ecosystems.Launch Partners Powering Swaap v2Swaap v2 is backed by notable launch partners to ensure robust functionality and support. Chainlink provides critical price feeds for on-chain defensive mechanisms and safeguards, further reinforcing security for Liquidity Providers.Additionally, Paraswap, Odos, and Open Ocean are onboard as aggregators, which already ensures significant volumes on the Swaap platform.FRAX, a leading stablecoin protocol, has approved a proposal to incentivize liquidity on a FRAX-ETH pool on Swaap v2 to reinforce its role as a connector token in DeFi.Built with Security at its CoreIn the world of DeFi, security is paramount. Swaap v2 has undergone rigorous audits by ChainSecurity & Quantstamp. Furthermore, Swaap v2 pioneers defensive modules and on-chain protections that offer users additional peace of mind.Swaap is celebrating the launch by offering Swaap tokens to the first wave of liquidity providers, seamlessly integrating them into the governance ecosystem.“With Swaap v2, we’re not just launching a product; we’re catalyzing a movement to empower people globally through decentralized financial tools. Our goal is to ensure that anyone, anywhere, has access to sophisticated market-making strategies that were once reserved for high-net-worth individuals and established financial institutions,” says Cyrille Pastour, co-founder of Swaap.“Swaap v2 is an eloquent example of what happens when innovation meets expertise. We believe Swaap is on the verge of redefining how DeFi engages with market-making, and we are thrilled to be part of this transformative journey.", says Nikolai Lambsdorff, from Signature Ventures.Liquidity Deposits to Secure Launch NFTSwapp invites users to deposit liquidity in Swaap v2 to not only unlock the full potential of their assets but also to secure exclusive launch NFT. This uniquely designed digital asset is Swapp's way of acknowledging users early participation and commitment to the evolution of DeFi.Users who want to deposit liquidity to secure their piece of blockchain history and join the frontlines of DeFi innovation can visit this link.About SwaapSwaap is an innovative market-making protocol specializing in blue-chip crypto assets. Through pioneering models developed in collaboration with leading institutions, Swaap is revolutionizing DeFi market-making by providing liquidity providers with effortless and superior market-making strategies.ContactHead of MarketingDavid [email protected]

Tezos, the innovative self-amending proof-of-stake blockchain and strong competitor of Ethereum, recently announced the implementation of its 14th network upgrade, dubbed Nairobi. The upgrade comes with several major enhancements intended to improve user experience and network performance. Despite these advancements, $XTZ, the blockchain's native token, saw no significant impact on its price. The Nairobi Upgrade: Boosting Transaction Throughput and Streamlining User Experience Collaboratively created by numerous teams including Nomadic Labs, Marigold, TriliTech, Oxhead Alpha, Tarides, DaiLambda, and Functori, the Nairobi upgrade introduces a range of mainnet improvements. A key highlight of these improvements is the increased transaction throughput which allows for faster processing of transactions and lower transaction fees. Following the upgrade, Tezos' throughput has skyrocketed by eight times, a boost applicable to various operations including transactions, smart contract calls, and Smart Rollup maintenance operations. Notably, with the Nairobi update, Tezos now offers support for Smart Rollup functions. The blockchain platform has introduced new functions and internal Layer-2 messages, enabling Tezos to seamlessly synchronize rollup kernels with future protocol upgrades. Additionally, for better understanding and communication, Tezos has improved its terminology. Enhancements for faster consensus have also been made, particularly through the increased speed of pre-attestation propagation. Tezos Ecosystem DAO: Streamlining On-Chain Funds Deployment The Nairobi upgrade coincided with the launch of the Tezos Ecosystem DAO, aimed at improving on-chain funds deployment and treasury management for vital initiatives within the Tezos ecosystem. The decentralized autonomous organization (DAO) enables community members to submit funding requests for Tezos-related initiatives which are then subjected to curation, voting, and the distribution of XTZ. Ensuring transparency and accountability, all DAO activities will be publicly visible. Initially, the DAO will be governed by a three-out-of-five multi-sig setup, with organizations such as Trilitech, the Tezos Foundation, and the Tezos India Foundation holding the keys. Despite these major advancements, the XTZ prices remain under pressure. As of June 26, XTZ is trading at $0.80, up 13% from the lows of June 2023. The current bearish trend, down 45% from February highs, persists even as the overall cryptocurrency market appears to be bottoming up. Looking Ahead The Nairobi upgrade marks a significant milestone in Tezos' journey, highlighting the blockchain platform's commitment to continuous improvement and innovation. By boosting transaction throughput, improving terminology, and launching the Tezos Ecosystem DAO, Tezos has not only improved its network's performance but also streamlined user experience. Despite the current XTZ price trends, these advancements pave the way for a promising future for the Tezos network. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

[Press Release – San Francisco, CA, June 22nd, 2023] Cutting-edge blockchain company, Radius, which is pioneering the trustless shared sequencing layer, has announced that it has raised a pre-seed investment of $1.7M. The funding round was led by Hashed, with participation from Superscrypt, Lambdaclass (Ergodic Fund), and Crypto.com. As rollups become more popular choices for […]

[PRESS RELEASE – DUBAI, United Arab Emirates, May 11th, 2023] Bybit, the world’s third most visited crypto exchange, is proud to announce its official sponsorship of the Safehouse Racegraph Lamborghini team for Super Trofeo in Asia. This partnership is a thrilling new step for Bybit, as it continues to accelerate toward the future of finance. […]