Jay Clayton – former Chairman of the US Securities and Exchange Commission (SEC) – thinks the regulator will sooner or later approve the launch of a spot Bitcoin exchange-traded fund (ETF). The agency recently decided to delay the applications of BlackRock and numerous other finance giants who displayed ambitions to introduce such a product. Clayton...Read More
According to Bloomberg Intelligence, the highly-anticipated launch of a spot Bitcoin exchange-traded fund (ETF) in the United States could occur right before Labor Day (September 4). The entity said that the US Securities and Exchange Commission (SEC) is expected to respond to several applications from BlackRock, Bitwise, WisdomTree, VanEck, and Invesco in the following days....Read More
US Representative Warren Davidson continues to push for Gary Gensler’s removal as the chairman of the Securities and Exchange Commission (SEC) following Grayscale’s recent win in court against the agency. Industry stakeholders and the broader crypto community believe Gensler and the SEC’s regulation by enforcement approach towards the crypto industry caused more harm than good...Read More
Miami’s mayor – Francis Suarez – announced his withdrawal from the US Presidential race without providing an exact reason for his decision. He is known as an outspoken proponent of bitcoin who has invested some of his wealth in the primary digital asset. Suarez also became the first American politician to receive his salary in...Read More
Two Bloomberg exchange-traded fund (ETF) analysts, Eric Balchunas and James Seyffart, predicted that there is a 75% chance the United States will have a spot Bitcoin ETF by the end of 2023, following Grayscale’s win against the US Securities and Exchange Commission (SEC). While the SEC has approved future-based Bitcoin ETFs, the Commission is yet...Read More
The prominent American actor Dwayne Johnson (better known as The Rock) and the talk show host Oprah Winfrey launched an initiative focused on helping those displaced by the devastating wildfires in Maui, Hawaii. The so-called People’s Fund of Maui is available for contributors from all over the globe and accepts donations in cryptocurrencies. Crypto to...Read More
One of the leading cryptocurrency mining companies – Stronghold Digital Mining – is reportedly planning to use tire-derived fuel (made of shredded vehicle tires) in its operations in the state of Pennsylvania. Burning such items is a toxic process that contaminates the nearby air, water, and soil. As such, it is no surprise that some...Read More
The US Federal Bureau of Investigation (FBI) discovered that the North Korean hacking collective – the Lazarus Group – has drained cryptocurrencies worth millions of dollars through several attacks in the past few years. The security agency believes the wrongdoers could soon cash out 1,580 BTC (worth almost $41 million at current prices). Stay Focused...Read More
The leading cryptocurrency exchange – Bitstamp – will reportedly disallow US customers to stake cryptocurrencies from September 25. The decision comes as a result of the “current regulatory dynamics” in the world’s largest economy, Chief Executive Officer Bobby Zagotta said. US Citizens Affected Once Again The world’s longest-running crypto exchange – Bitstamp – will become...Read More
GOP presidential candidate and current mayor of Miami, Francis Suarez, has said he would be willing to accept Bitcoin (BTC) as part of his salary if elected president. Suarez made the statement in a podcast interview, where he confirmed that he was already taking part of his mayoral salary in Bitcoin and would continue if...Read More
The founder of FTX – Sam Bankman-Fried (SBF) – has reportedly pleaded not guilty in a Manhattan federal court to seven criminal charges in a new indictment. This was his first appearance since his bond was revoked earlier this month, leading to his imprisonment. SBF is expected to spend the days until his trial in...Read More
The Federal Bureau of Investigation (FBI) announced confiscating approximately $1.7 million worth of crypto assets from March to May in the United States in a bid to combat illicit activities. The seizures were carried out as a result of numerous breaches in federal regulations. The law enforcement agency took control of $147,000 in Bitcoin (BTC),...Read More
Bitcoin’s price has basically been on pause since mid-June, as the asset trades range-bound since then. The exchange rate of BTC to USD remained above $29,000, with resistance at $30,000. It’s as if markets are waiting on the SEC’s spot Bitcoin ETF approvals. In fact, one metric of bitcoin’s price stability touched five-year historic lows...Read More
Tornado Cash, the most well-known crypto mixing service, was sanctioned by the U.S. Office of Foreign Assets Control (OFAC) last August. The decision was the result of a long-lasting spat between the regulator and the crypto mixer dating back to at least 2018 when two persons of special interest to the U.S. government were found...Read More
Dante Disparte, the chief strategy officer and head of global policy of the second-largest stablecoin issuer Circle, has blasted crypto firms that create counterfeits of the U.S. dollar. According to a Bloomberg report, Disparte called for relevant federal legislation around stablecoins to protect consumers and prevent investors from companies with fake USD. Circle CSO Criticizes...Read More
Bittrex reached a $24 million settlement with the US Securities and Exchange Commission (SEC). Under this arrangement, Bittrex and Bittrex Global have settled with the federal regulator, agreeing to make payments totaling $14.4 million for disgorgement (repayment of unjust profits), $4 million for prejudgment interest, and $5.6 million in civil penalties to resolve the legal...Read More
The now-defunct cryptocurrency lending company Celsius Network reportedly received permission from US Judge Martin Glenn to send a restructured bankruptcy plan to creditors, seeking their approval. If accepted, affected customers could retrieve up to 67% of their funds through a return of liquid digital currencies such as bitcoin. Plan Into Motion? According to a recent...Read More
Prime Trust – a once-leading cryptocurrency custodian – filed for Chapter 11 bankruptcy protection in Delaware approximately two months after the Nevada Financial Institutions Division claimed it operates in an “unsafe and unsound manner.” The company was among the leaders in its field a few years ago, holding funds on behalf of other fallen behemoths...Read More
The cryptocurrency exchange Coinbase announced it has officially launched operations in Canada. As part of the initiative, the company introduced Coinbase One to local users – a 30-day trial offering zero trading fees and priority support. The firm has been coping with severe regulatory issues in its homeland, with most problems coming from the US...Read More
Jan Hatzius and David Mericle – economists at the banking giant Goldman Sachs – predicted that the US Federal Reserve will start lowering interest rates from the second quarter of 2024. Many experts have previously suggested that such a pivot could boost investor interest in risk-on assets, including stocks, commodities, and cryptocurrencies. Still Uncertain About...Read More
The once-prominent cryptocurrency exchange Bittrex has reportedly agreed to pay $24 million in penalties to resolve its quarrel with the United States Securities and Exchange Commission (SEC). The agency has previously accused the platform of offering services to American clients without obtaining the necessary registration. The exchange shuttered its US operations and filed for bankruptcy...Read More
A group of customers of the once-prominent cryptocurrency exchange FTX has reportedly filed a lawsuit against the law firm Fenwick & West, insisting that it contributed to the alleged scam orchestrated by Sam Bankman-Fried (SBF) and the subsequent multi-billion losses it brought. The former leader of the exchange has pleaded not guilty to the fraud...Read More
The popular podcaster and commentator – Joe Rogan – and the famous musician – Austin Richard Post (better known by his stage name Post Malone) – appear to be against the probable launch of a digital dollar. The former went even further, suggesting that such a financial product would cause a “game over” scenario. The...Read More
The leading financial technology company – Revolut – reportedly plans to increase its global cryptocurrency team by hiring up to 20% more employees by the end of 2023. The move comes somewhat unexpectedly since the firm recently disclosed that it will suspend digital asset services to US-based customers from September. As revealed by Financial News, Revolut...Read More
Global payments giant PayPal has deepened its footsteps into the crypto industry by launching a dollar-backed stablecoin dubbed PayPal USD (PYUSD). The move makes PayPal one of the first large U.S. financial companies to launch its own stablecoin despite regulatory uncertainty around crypto assets in the country. As a USD-pegged stablecoin, PayPal USD maintains a...Read More
A resident of Eden Prairie, Minnesota, whose name was undisclosed, has reportedly parted with $9.2 million after falling prey in a typical cryptocurrency romance fraud. The local police said it has never investigated a crypto-related scam where individuals have lost such a substantial sum. The Multi-Million Scheme As reported by Star Tribune, the man started chatting with...Read More
The approaching presidential vote in the United States in 2024 promises to be intriguing and contested as more and more well-known candidates announce their participation in the election. Both the Democratic and the Republican parties have amassed serious figures who put the economic welfare of Americans, the improvement of the domestic health sector, the US...Read More
Revolut – a leading financial technology company that enables customers to buy and sell a variety of cryptocurrencies – will cease such options for its US users from September this year. It said the main reason behind the terminated service is the regulatory uncertainty in the world’s largest economy. As reported by Reuters, Revolut will stop...Read More
Bankrupt cryptocurrency exchange FTX has filed a motion to remove its Dubai unit from the ongoing bankruptcy proceedings in the United States. According to a document submitted to the U.S. Bankruptcy Court for the District of Delaware, FTX Dubai did not conduct any business activities in the United Arab Emirates (UAE) before the global entity...Read More
Records show one of United States President Joe Biden’s Senate closest allies placed a substantial financial wager against the country’s economy last month. The latest development comes amidst mounting regulatory pressures on the cryptocurrency industry by the US regulatory watchdogs that have argued that the asset class poses a serious threat to the economy. Shorting...Read More
