ChainCatcher news, according to The Block, the cryptocurrency trading platform Uphold is launching dollar interest accounts with an annual interest rate of up to 5%.The company's CEO Simon McLoughlin stated that this move aims to attract new customers and incentivize users to hold more capital on the platform. Uphold mentioned that by partnering with Atomic Brokerage, the interest accounts can offer an annual interest rate of up to 5%.

ChainCatcher news, according to The Block, Uphold CEO Simon McLoughlin stated in a recent interview with The Block that he is optimistic about the long-term prospects of cryptocurrency but is frustrated by the "fraudulent nature" of certain parts.He pointed out that 7,000 new memecoins are created every day, which is frustrating. Nevertheless, Uphold offers a product called "Meme Basket" that allows customers to invest in a selection of popular memecoins through its app, including tokens like DOGE, FLOKI, PEPE, and BONK.

ChainCatcher message, the global government affairs team of platform X issued a statement in response to "the Brazilian Supreme Court will suspend X's operations in the country before August 29":"Shortly, we expect Judge Alexandre de Moraes to order the shutdown of X in Brazil—simply because we will not comply with his illegal orders to censor his political opponents. These opponents include a formally elected senator and a 16-year-old girl, among others. When we tried to defend ourselves in court, Judge de Moraes threatened to imprison our Brazilian legal representative. Even after she resigned, he froze all her bank accounts. Our challenges to his obviously illegal actions have either been dismissed or ignored. The fundamental issue is that Judge de Moraes is asking us to violate Brazil's own laws.In the coming days, for the sake of transparency, we will publish all of Judge de Moraes's illegal demands as well as all relevant court documents. Unlike other social media and tech platforms, we will not secretly comply with illegal orders. For users in Brazil and around the world, X remains committed to protecting your freedom of speech."

ChainCatcher news, the AI project GM.ai announced the launch of the GM Foundation, stating that the foundation's sole mission is to reliably develop, integrate, and scale gmAI models in consumer applications. With the launch of the GM token, the official team looks forward to being the first to build Solana-native AI applications and empower the community with ownership and governance.The future goals of the foundation include more gmAI-based applications, multi-chain expansion, GM Airdrop Season 3, and accelerating gmINFRA. The official team stated that the next round of airdrop activities will embody the spirit of Label to Earn, providing users with new opportunities to interact with the platform and earn rewards.

ChainCatcher news, according to Crypto Briefing, the New York cryptocurrency exchange Uphold announced that due to the upcoming implementation of the Markets in Crypto-Assets (MiCA) regulation in the European Economic Area (EEA) on June 30, the platform will stop supporting multiple stablecoins starting July 1.The affected stablecoins reportedly include Tether (USDT), Dai (DAI), Frax Protocol (FRAX), Gemini Dollar (GUSD), Pax Dollar (USDP), and TrueUSD (TUSD). Uphold advises users to convert their relevant stablecoins before June 27 to avoid automatic conversion to USDC on June 28.

ChainCatcher news, according to Cointelegraph, former U.S. Commodity Futures Trading Commission (CFTC) Chairman J. Christian Giancarlo emphasized the necessity of CBDCs and stablecoins ensuring privacy and censorship resistance in his keynote speech at the FT Live Cryptocurrency and Digital Assets Summit.He stressed that by encoding personal economic privacy into their very architecture, CBDCs and stablecoins should become ideal tools for people around the world who yearn for financial autonomy and inclusivity, aligning with fundamental human rights and civic values.

ChainCatcher news, Uphold's new self-service wallet Vault initially supported XRP tokens and has now added support for Bitcoin.

ChainCatcher news, according to Reuters, the Spanish High Court announced on Monday that it upheld the temporary injunction against the iris scanning business project of Tools for Humanity, rejecting the appeal from the owner of Worldcoin.The court stated in a declaration that "protecting the public interest" must take precedence, and if the final ruling favors lifting the injunction, Tools for Humanity will be compensated for any lost revenue, thereby rejecting the appellant's claim of "irreparable harm."

ChainCatcher news, according to CoinDesk, Terraform Labs co-founder Do Kwon has once again appealed the decision of the Montenegrin High Court to uphold the extradition requests from the United States and South Korea.

ChainCatcher message, Ripple's Chief Legal Officer Stuart Alderoty has reservations about the series of legal failures the SEC has faced during Gary Gensler's tenure. Stuart stated, "Another court found that the SEC acted arbitrarily and capriciously once again," expressing concern over the SEC's repeated arbitrary and capricious actions in court cases.Previously, the SEC lost its lawsuit against Ripple regarding XRP in the Fifth Circuit Court in July 2023.

ChainCatcher news, according to Fortune magazine, FTX founder SBF has been criticizing the law firm Sullivan & Cromwell in court documents and on social media over the past few months, suggesting that the firm has betrayed its duty to uphold the best interests of its clients.

According to ChainCatcher, the U.S. District Court for the Western District of Texas, the decentralized community Bancor DAO, which oversees the Bancor DEX, is facing a class-action lawsuit. The lawsuit claims that Bancor DAO deceived investors regarding the impermanent loss protection (ILP) mechanism for liquidity providers and that its investment products are unregistered securities.According to the lawsuit, Bancor's v2.1 investment product was launched in October 2020 and was the second investment product featuring ILP. The operating deficit was known to the defendants, who attempted to make up for it by launching a new product, v3, which promised "competitive returns... without any risk to users." However, on June 19, 2022, Bancor experienced a surge in withdrawals, leading to a "pause" in ILP. Investors were still able to withdraw assets but incurred losses that ILP was designed to prevent, ultimately resulting in tens of millions of dollars in losses for U.S. retail investors. (Cointelegraph)

ChainCatcher news, according to Cointelegraph, the cryptocurrency exchange Uphold filed a motion during a court hearing on January 11 to dismiss all allegations in the lawsuit brought against the company by the Cred liquidation trustee last June. The Cred liquidation trustee claims in the lawsuit that Uphold collaborated with Cred co-founders to promote the financial product CredEarn, alleging that Uphold owes CredEarn $783.9 million, and accuses Uphold of "aiding and abetting Cred co-founders Daniel Schatt and Lu Hua, as well as other executives associated with the CredEarn project, in breaching their fiduciary duties."In the motion to dismiss the case, Uphold stated that the allegations of the Cred trust are "incoherent, conclusory, and conspiratorial," urging the Delaware bankruptcy court to dismiss these claims. "Furthermore, Uphold denies the allegations of knowledge of Cred's risks, stating that Cred is fully independently owned and operated."It is reported that Cred is a cryptocurrency lending company that filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code in November 2020. In June 2022, Cred's liquidation trust filed a lawsuit against Uphold and two affiliated companies. (Cointelegraph)