In the late 1960s, Wall Street faced a seemingly insignificant problem. As securities trading became increasingly popular, trading activity surged, but the infrastructure supporting it remained outdated. Brokers still settled transactions by physically exchanging stock certificates. Messengers crisscrossed Manhattan, delivering envelopes. Back-office offices were piled high with forms. The surge in trading volume was so severe that the U.S. market had to halt trading every Wednesday for six consecutive months to allow firms time to process the backlog of paperwork.
This ultimately escalated into the infamous "paperwork crisis."
Better "errand runners" and more paper documents couldn't solve the problem.
There are reports that USDT, the world's largest dollar stablecoin, may be delisted from the European Coinbase exchange. Tether plans to develop new technical solutions for the European market to comply with the EU's MiCA regulations.
WeiliangElon Musk's X has returned to Brazil after paying a $5.5 million fine and complying with court orders on hate speech moderation, ending a standoff with Justice Alexandre de Moraes over far-right accounts and misinformation. Was it compliance or the hefty fine that led to its reinstatement?
CatherineNotcoin and DOGS will burn $4 million worth of NOT and DOGS tokens on 9 October following a community vote on unclaimed airdrop tokens. The burn aims to reduce supply and potentially boost token value, highlighting the communities' role in project decisions.
KikyoHBO’s documentary "Money Electric: The Bitcoin Mystery" explores the search for Bitcoin's creator, Satoshi Nakamoto, focusing on Peter Todd as a potential candidate. While the film presents compelling arguments, many in the crypto community remain skeptical, emphasizing that the identity of Satoshi is less important now as Bitcoin has evolved beyond its creator.
AnaisRussia has blocked the instant messaging app Discord for violating its laws. In recent years, Russia has demanded that foreign platforms remove content deemed "illegal" and has imposed fines for non-compliance. Does this growing enforcement indicate a trend toward tighter control over digital communication?
CatherineCrypto.com has filed a lawsuit against the SEC, claiming the agency has overstepped its authority in regulating the cryptocurrency industry after receiving a Wells notice. This legal action reflects wider frustration within the crypto sector, as many companies seek clarity on their legal status amid growing regulatory scrutiny.
WeatherlyWith the launch of the early-access version of Off the Grid, a free-to-play battle royale with blockchain features, player are able to trade NFT-based in-game assets. Available on PlayStation 5 and the Epic Game Store, this marks a key step for crypto gaming on consoles. Has blockchain gaming come a long way?
KikyoOpenAI is opening a new office in Singapore by the end of 2024 to strengthen its presence in Asia and collaborate with local initiatives like AI Singapore. This expansion aims to support AI development across Southeast Asia while creating new job opportunities.
JoyAdobe announced a free web app launching in early 2025 that will help creators protect their work by attaching digital fingerprints called “Content Credentials.” This app aims to give creators control over how their content is used, addressing growing concerns about unauthorised use in AI training.
WeatherlyThe XRP community has launched a petition urging the SEC to drop its "baseless" appeal in the Ripple case. The petition has gained over 10,000 signatures, highlighting frustration with the four-year legal battle. Will this pressure end the lawsuit, or will it persist?
Catherine