The Block

Quick Take Sens. Elizabeth Warren and Sherrod Brown raised concerns over crypto’s possible use in illicit finance and scams during a Senate Banking Committee hearing on Thursday.

Quick Take Proof of Play’s crypto game “Pirate Nation” secured a token listing on Coinbase shortly after its launch on Thursday. Last September, a16z crypto, Anchorage Digital and Naval Ravikant participated in a $33 million seed round for Proof of Play.

Quick Take Genesis, which is a subsidiary of the Digital Currency Group, agreed to pay $21 million to the SEC, according to a filing in the U.S. Bankruptcy Court in the Southern District of New York.

Quick Take “Tether is mostly at risk given its lack of regulatory compliance and transparency,” JPMorgan analysts said. Tether rival Circle appears to be proactively preparing for the upcoming stablecoin regulations, according to the analysts.

Quick Take Polygon Labs CEO Marc Boiron announced in a post to X that the organization is laying off 19% of staff, saying the “team’s rapid growth in the last bull market diluted” the company’s ability to pursue its mission. The company also laid off 20% of its staff about a year ago.

Superstate has introduced its first product — an Ethereum-based short-duration U.S. government securities fund called USTB.

Quick Take Derivatives trading protocol Aevo will release its native token. The token contract was deployed, with plans to reward traders and early adopters.

Quick Take Cube.Exchange has raised $12 million in a Series A funding round. The round brings Cube’s valuation to $100 million, a source told The Block.

DEX aggregator Jupiter recorded nearly $1.4 billion in trading volume over the last 24 hours amid the launch of its native token.

Quick Take Kensuke Amo, most recently served as Coincheck’s managing executive officer, has joined Animoca to lead the Japanese market.