Musk has begun to discuss using blockchain technology to streamline the government’s IT systems and cut unnecessary costs, according to recent reports. To wit, Musk is the new president’s official advisor on matters pertaining to government efficiency. President Donald Trump appointed him to head the DOGE: a White House office named the Department of Government...Read More
President Donald Trump splashed the crypto waters earlier this week when he signed an executive order focused on digital assets to be potentially included in the US reserves. Although it’s not officially approved yet, the decision has sparked substantial debates within the community on which cryptocurrencies should be included or whether it should just be...Read More
Senator Elizabeth Warren, ranking member of the House Banking Committee, is asking federal agencies to investigate whether President Donald Trump’s recent launch of a meme coin violated ethical or regulatory standards. The Massachusetts lawmaker, alongside Representative Jake Auchincloss, directed the request to the heads of the U.S. Office of Government Ethics (OGE), the Treasury Department,...Read More
David Sacks has introduced a new perspective on non-fungible tokens (NFTs) and meme coins, describing them as a distinct class of digital assets. In an interview with Fox Business, the AI and crypto czar spoke on the growing complexity of classifying digital assets, categorizing the two as collectibles. Digital Asset Classification “When you talk about...Read More
Sen. Cynthia Lummis (R-WY) chairs the US Senate panel on crypto assets. She has promised some big changes in government policy for the sector. A Bitcoin sovereign wealth fund Republicans are calling a “strategic national reserve” is only one of Lummis’ promises for blockchain. But markets are thrilling with bullish activity on that prospect alone....Read More
TORN, the native token of beleaguered crypto mixer Tornado Cash, enjoyed a brief renaissance over the last two days following news that a court had overturned sanctions imposed on the platform by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC). Initially trading around the $9.50 level on January 22, the token skyrocketed 140%...Read More
Dubai-based crypto market maker CLS Global will plead guilty to charges related to wash trading on the decentralized exchange Uniswap. Federal prosecutors in Boston announced Wednesday that the company will face market manipulation and wire fraud charges after falling victim to an FBI sting operation. $428K Fine and U.S. Market Ban As part of the...Read More
Biotech entrepreneur and prominent crypto supporter Vivek Ramaswamy has reportedly stepped down from his role as co-lead of the Department of Government Efficiency (DOGE). His decision is said to stem from a desire to run for governor of Ohio next year, with the current occupant of the seat, Mike DeWine, ineligible for reelection in 2026...Read More
Wyoming Senator Cynthia Lummis has issued a formal letter to Federal Deposit Insurance Corporation (FDIC) Chair Martin Gruenberg, expressing concerns following reports from whistleblowers within the agency. According to the Republican legislator, her office was contacted by individuals alleging that the corporation was destroying documents tied to its digital asset activities. The Alleged Activities In...Read More
Blockchain developer Michael Lewellen has filed a lawsuit against the U.S. Department of Justice (DOJ), accusing the Biden administration of undermining cryptocurrency innovation by broadly interpreting money transmission laws. Lewellen, a fellow at the nonprofit advocacy group Coin Center, argues that the administration’s actions have discouraged developers from building blockchain tools and forced talent to...Read More
The U.S. Securities and Exchange Commission (SEC) has formally appealed against a 2023 ruling that found sales of Ripple’s XRP token on crypto exchanges did not break securities laws. According to the regulator, District Court Judge Analisa Torres was “factually and legally” wrong when she concluded that offers and sales of XRP to the public...Read More
Congressman Tom Emmer, a well-known advocate for the cryptocurrency industry, has been named Vice Chair of the House Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence. Committee Chairman French Hill made the announcement on January 14 as part of the House Financial Services Committee’s subcommittee assignments for the 119th Congress. Appointment Details Emmer expressed...Read More
Ripple has stepped forward to aid victims of the California wildfire tragedy, donating $100,000 in its native XRP token. The contribution, made through The Giving Block, will support on-the-ground relief efforts by nonprofit organizations World Central Kitchen (WCK) and GiveDirectly. Crypto Community Joins the Fight Against Wildfires Ripple announced the contribution in a January 14...Read More
The U.S. Supreme Court has rejected a petition from Binance and its founder, Changpeng Zhao. The two parties sought a review of a ruling that applies U.S. securities laws to the exchange despite its lack of a physical headquarters. The Supreme Court’s Ruling The January 13 ruling follows a lawsuit by investors who accused the...Read More
The U.S. Court of Appeal for the Third Circuit has ruled that the Securities and Exchange Commission (SEC) must provide a detailed explanation of why it denied a petition by Coinbase for crypto-specific regulations. This decision follows years of tension between the regulator and the crypto sector over the lack of clear guidelines. Judicial Rebuke...Read More
The past few days have seen bitcoin (BTC) briefly trade below the $90,000 range, and analysts say the cryptocurrency faces the risk of more volatility in the short term. Although the narrative paints BTC as resilient, macroeconomic pressures could drag the digital asset to levels not seen in months. A Bitfinex Alpha report has cited...Read More
President-elect Donald Trump’s choice for Treasury Secretary, Scott Bessent, has disclosed ownership of spot Bitcoin Exchange-Traded Fund (ETF) holdings worth as much as $500,000. If confirmed for the position, the investor who co-founded Key Square Group says he will resign from the company and divest his investments. Bitcoin Exposure Through IBIT A document released on...Read More
American investor and former pharmaceutical executive Martin Shkreli has asked a Brooklyn federal court to dismiss claims against him by the NFT collective PleasrDAO over the ownership of a rare recording by the legendary hip-hop group Wu-Tang Clan. The move is the latest episode in a saga that began in June 2024, when PleasrDAO sued...Read More
A recent survey by Bitwise has revealed a rise in cryptocurrency interest among U.S.-based financial consultants following Donald Trump’s return to the White House. The findings indicate that 56% of respondents are now more inclined to invest in crypto due to the results of the 2024 U.S. election. Surge in Crypto Allocation and Interest The...Read More
The U.S. Senate Banking Committee, led by Chairman Tim Scott, is reportedly planning to establish its first subcommittee dedicated to cryptocurrency. This initiative marks an important milestone in the Senate’s approach to regulating the digital assets industry. Cynthia Lummis Selected as Chair Fox Business reporter Eleanor Terret shared the development in a January 10 post...Read More
Gary Gensler has described the cryptocurrency market as “rife with bad actors.” The top financial cop made the remarks in a January 8 interview with Bloomberg TV, in which he discussed the enforcement actions under his leadership and addressed persistent compliance issues in the crypto space. A Tenure Marked by Crypto Scrutiny In the sit-down...Read More
Before winning the 2024 presidential election in a landmark victory for the cryptocurrency sector, former president Donald Trump promised to establish a national Bitcoin reserve. As a result, crypto markets have been making big bets on Bitcoin’s price increasing throughout 2025. But Trump hasn’t yet committed the federal government to making any new Bitcoin purchases....Read More
Rising Treasury yields as a result of falling bond prices Tuesday knocked tech stocks in the Nasdaq Composite down nearly 2%. Aside from BTC, Ethereum fell nearly 8%, Ripple dropped by 6%, and Solana slumped by nearly 10% in the 24-hour window. BTC Price Retraces Jan 6 Bump on New Congress Going into the work...Read More
U.S. prosecutors pursuing criminal charges against Terraform Labs co-founder Do Kwon have estimated that the collapse of the TerraUSD and Luna cryptocurrencies may have affected more than one million individuals and entities. The estimate was revealed in a filing submitted on January 6 by acting U.S. Attorney Daniel Gitner to the U.S. District Court for...Read More
U.S. Federal Reserve Vice-Chair for Supervision Michael Barr has announced his resignation from the position ahead of President-elect Donald Trump’s return to the White House. His departure has sparked reactions from lawmakers and crypto industry leaders, who pointed out his controversial role in shaping U.S. banking policies concerning digital assets. A Polarizing Figure in Banking...Read More
Crypto markets held on to gains made late last week over the weekend, and momentum could continue into the following days. There has been a small ‘Santa rally’ for stocks and crypto markets over the first few days of the year, with around $280 billion entering digital asset markets. This week will see the release...Read More
Not without some controversy and tense moments, the 119th US Congress was officially sworn in, with Republicans dominating both chambers for the first time in six years. Trump-backed Mike Johnson was re-elected as the US House Speaker on the first ballot in a 218-215 vote on Friday. Many in the cryptocurrency community were quick to...Read More
Do Kwon, the co-founder of Terraform Labs, has pleaded not guilty to United States fraud charges related to the $40 billion Terra LUNA crash in 2022. Only two days ago, the Montenegro authorities extradited him to the U.S. According to a Bloomberg report, the troubled co-founder faces nine financial-related charges, including money laundering conspiracy, commodities...Read More
The CEO of Metaplanet says the US is touching off an international race for BTC reserves. Crypto analysts have dubbed the Japanese venture capital fund the “MicroStrategy of Japan” for its voracious Bitcoin purchases. In an interview at Michael Saylor’s New Year’s Eve Party in Miami on Tuesday, Gerovich said Japan would be sure to...Read More
The incoming second Donald Trump administration has extensive plans to cement US leadership in developing blockchain cryptocurrencies and delivering their products to markets. Meanwhile, Russia is using Bitcoin to conduct commerce outside the traditional finance channels in the face of international sanctions. While these developments certainly bear strategic adversarial overtones, the way Bitcoin changes the...Read More
