Today in Crypto: Citadel & Fidelity-Backed EDX Launches Trading, Core Scientific Files Chapter 11 Bankruptcy Plan, Canadian Securities Administrators Warns About Fraudulent Crypto Companies

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of todays crypto news.

Exchange news

• EDX Markets, a new crypto exchange backed by Citadel Securities, Fidelity Investments, and Charles Schwab, launched trading for bitcoin (BTC), ether (ETH), litecoin (LTC), and bitcoin cash (BCH). The 'non-custodial' exchange also announced new investors that include Miami International Holdings, DV Crypto, GTS, GSR Markets LTD, and HRT Technology. Later this year, EDX will launch EDX Clearing to settle trades matched on EDX Markets, it added.

Regulation news

• Bitcoin miner Core Scientific filed its Chapter 11 bankruptcy plan on Tuesday in the United States Bankruptcy Court for the Southern District of Texas Houston Division. The plan was negotiated with key stakeholders, while the company is “seeking to build as much consensus as possible” in regard to the company's new look after the bankruptcy proceedings. It said that the holders of allowed debtor-in-possession (DIP) claims would receive full satisfaction of their claims on the effective date of the bankruptcy plan.

Security news

• The Canadian Securities Administrators (CSA) warned Canadians to “be vigilant about purported crypto trading service providers that are claiming to be authorized or affiliated with fictitious regulatory or dispute resolution organizations,” according to a press release published on Tuesday. In addition, anyone considering investing in cryptoassets should consult the list of crypto trading platforms that are registered with the CSA and learn the fundamentals of cryptoassets, it said.

• A scam 'Trezor' app has been removed from Apple's App Store after Rafael Yakobi, a managing partner at US-based The Crypto Lawyers, warned users about it. As reported, he noticed that the first search result for the popular crypto wallet was “a malicious application that will request your seed phrase, allowing its operators to steal all of your crypto.” The app, 'Trezor Wallet Suite', can't be found in the App Store at the time of writing.

AI news

• A bipartisan group of United States lawmakers introduced on Tuesday a bill to establish a commission to study the countrys approach to artificial intelligence (AI). The 'National AI Commission Act' proposes that the National AI Commission be comprised of 20 commissioners, to review the Federal Government's approach to AI oversight and regulation, make related recommendations, and conduct its work to ensure the US is mitigating the risks and possible harms of AI, protecting the country's leadership in AI innovation, and ensuring that the US takes a leading role in establishing necessary, long-term guardrails to ensure that AI is aligned with values shared by all Americans, it said.

Gaming news

• Hong Kong-based blockchain gaming and Web3 investor Animoca Brands joined Celo, a carbon-negative, EVM-compatible blockchain ecosystem. Per the press release, participation in the Celo ecosystem will allow Animoca Brands to scale up Web3 gaming on Celos mobile-first infrastructure. Animoca Brands will join Celos Alliance for Prosperity and will become a validator on the Celo network. In addition, Animoca Brands and the Celo Foundation are in discussion to partner on strategic initiatives and explore new deployments and integrations geared towards social impact and climate action, they said.

DeFi news

• NUVO, a chain-agnostic platform for onboarding users and companies to Web3, and Nebulai, a Decentralized Solutions & Talent Marketplace (DSTM) platform, announced a strategic alliance that aims to “revolutionize talent marketplaces, merging blockchain technology with user-centric data control to deliver an unparalleled solution for businesses and individuals alike,” said the press release. Nuvo brings its Nuvosphere platform to the partnership, it added, while Nebulai brings its DSTM.

Stablecoin news

• Tether, the issuer of the popular USDT stablecoin, today announced that it will launch USDT on layer-1 blockchain Kava. The stablecoin is now live on several networks, including Ethereum, Solana, Algorand, EOS, Liquid Network, Omni, and Tron, it said.