Crypto trade associations in the US have slammed a complaint filed by the Federal Trade Commission that suggested a Utah-based company broke the law when it built software without a so-called kill switch. That software, a crypto bridge called Nomad, was hacked for nearly $200 million in 2022. While its developers were able to recover millions in stolen crypto, Nomad has failed to gain any traction since it was relaunched in December that year. Though the project is seemingly defunct, parent company Illu ...

Investors in Axelar are seething after stablecoin giant Circle announced it had bought the crypto bridge’s developer on Monday. The reason? The deal acquires Interop Labs, Axelar’s leading developer, but excludes the network itself and the $120 million AXL token that powers it. It comes as a major blow to investors, as many had thrown in their lot with Axelar, assuming that Interop Labs would stick around and continue developing the project. Now they feel betrayed, and dozens have taken to social media ...