Category: Law of the Chain

OpenAI denies involvement in Robinhood’s tokenized equity campaign, stating no partnership or approval. Elon Musk criticizes the initiative, calling the equity fake. Robinhood shares surged despite the controversy.

KBC Bank in Belgium will allow retail clients to trade Bitcoin and Ether via its Bolero platform, marking the first major Belgian bank to enter the crypto market, pending MiCA regulatory approval.

The Senate passed a controversial budget bill with tax cuts but excluded crypto tax relief, leaving miners in uncertainty. The bill faces challenges in the House amid GOP divisions.

OpenAI clarified that Robinhood-distributed tokens in the EU do not represent company equity, emphasizing no approval was given. Robinhood defends the move as providing indirect private market exposure.

Robinhood’s tokenized stock giveaways for OpenAI and SpaceX sparked controversy as OpenAI denied involvement, stating the tokens are not real equity and lack approval. Elon Musk and DeFi community members also criticized the move.

Ripple Labs applies for a US banking license with the OCC, seeking federal oversight for its stablecoin RLUSD. The move follows Circle’s similar application as crypto firms pursue regulatory legitimacy amid new stablecoin regulations.

Ripple applies for a US national banking license to federally regulate its RLUSD stablecoin, aiming to expand crypto services under dual state and federal oversight.

Sean ‘Diddy’ Combs, former cellmate of Sam Bankman-Fried, was acquitted of racketeering and sex trafficking charges but found guilty of prostitution-related offenses in a Manhattan federal court.