Crypto

Daily activity has dropped from 10.8 million transactions to 6.2 million since mid-September even as Robinhood keeps paying network fees on customer swaps. The slowdown on Robinhood’s blockchain has spread from fees to trading itself, with daily transactions down 42% from mid-September even as the brokerage keeps paying the network fees on token swaps worth more than 50 cents that customers make through its Robinhood Wallet app. The network averaged.

Crypto

Researchers demonstrated how a payment could create spendable XRP without the sender funding it, prompting an emergency software release. A flaw in the XRP Ledger’s payment system could have let an attacker create large amounts of new XRP without paying for it, breaking the token’s fixed-supply rule, according to a security report published Friday. The bug, believed to date to 2015, was found by researcher Cayden Liao and Veria AI.

Crypto

Visa’s survey of 14,250 people found interest in stablecoin payments is growing, though only 6% of respondents correctly understood how they work. There is growing consumer interest in the Asia-Pacific (APAC) region in using stablecoins for everyday spending, travel and cross-border transfers, according to a new survey conducted by Visa (V). The payments giant said it found that nearly half of APAC’s 2.5 billion consumers are open to start using.

Crypto

The derivatives regulator is proposing a formal rule to include certain contracts traded on platforms like Kalshi's as swaps that require the agency's oversight. The U.S. Commodity Futures Trading Commission is making its pursuit of exclusive prediction markets authority a formal effort, putting a new definition in place on Friday and proposing other changes that collectively seek to secure the legal footing of events contracts as "swaps" — a transaction.

Crypto

A recently updated version of the paid-for transaction-ordering technology “Time Boost” will be available on Arbitrum, Robinhood Chain’s infrastructure provider. Robinhood Chain, the popular Layer-2 blockchain tailor-made for tokenized real-world financial assets, is evaluating a transaction-ordering system that would allow users to pay a fee to prioritize certain trades, according to a person familiar with the matter. The technology is being developed by Arbitrum, which provides the infrastructure behind Robinhood.

Crypto

Alex Mashinsky, already serving 12 years for fraud, settled New York’s civil case over claims he misled Celsius customers about the failed crypto lender’s safety. New York Attorney General Letitia James said Friday she secured up to $35 million from former Celsius CEO Alex Mashinsky and a permanent ban preventing him from working in the securities, commodities or cryptocurrency industries. James sued Mashinsky in 2023 according to a press release,.