Latest News
By Federal Newswire | Mar 20, 2024
Binance, the world's leading cryptocurrency exchange, has ceased its operations involving the Nigerian naira. Two Binance executives, including an American citizen, were invited to Nigeria for discussions with government officials about the relationship between cryptocurrency and the Nigerian economy. However, these executives were detained in Abuja in late February and are currently under house arrest.
By Federal Newswire News Reports | Mar 20, 2024
Nicholas Anthony, a policy analyst in the Cato Institute’s Center for Monetary and Financial Alternatives, says the Nigerian government, not cryptocurrency, is to blame for devaluation of the naira.
By Federal Newswire | Mar 15, 2024
Professor Yuliya Guseva, director of the Fintech and Blockchain Research Program at the Rutgers Center for Corporate Law and Governance, recently highlighted the need for more comprehensive regulation in the digital asset industry. Speaking to Federal Newswire, she noted that while the cases involving cryptocurrency exchanges Binance and FTX differ, they both underscore this necessity. Guseva said the need for regulations will become more pronounced if crypto adoption continues to grow.
By Federal Newswire | Mar 15, 2024
Professor Steve H. Hanke, an applied economics scholar at The Johns Hopkins University, suggested in a conversation with the Federal Newswire that Nigeria's economic crisis could be mitigated by controlling the growth of the nation's money supply. This advice comes as the Nigerian government attributes the devaluation of its currency, the naira, to the burgeoning cryptocurrency industry.
By Federal Newswire | Mar 14, 2024
Steve H. Hanke, a professor of applied economics at The Johns Hopkins University, has countered the Nigerian government's claim that cryptocurrency is causing harm to the value of the naira. Speaking to the Federal Newswire, Hanke asserted that it is in fact the growth of the naira's money supply that has led to its devaluation.
By Federal Newswire | Mar 14, 2024
As the sentencing of Sam Bankman-Fried, founder and former CEO of FTX, looms, Yuliya Guseva, director of the Fintech and Blockchain Research Program at the Rutgers Center for Corporate Law and Governance, has drawn parallels between Bankman-Fried's fraud and the actions of Bernie Madoff. Madoff was a former Nasdaq chair who orchestrated a colossal Ponzi scheme. Guseva suggested to Federal Newswire that Madoff's sentencing could provide a guideline for an appropriate sentence for Bankman-Fried.
By Federal Newswire | Mar 8, 2024
Rostin Behnam, the chairman of the U.S. Commodity Futures Trading Commission (CFTC), has urged Congress to introduce comprehensive regulations for the cryptocurrency industry. This appeal was made during his recent testimony to the House Agriculture Committee.
By Federal Newswire | Mar 8, 2024
Christian Catalini, the founder of the Massachusetts Institute of Technology (MIT) Cryptoeconomics Lab, recently highlighted the potential of blockchain technology to become a significant part of U.S. national security in the future. In an interview with Federal Newswire, Catalini expressed concern that the current lack of regulatory certainty in the U.S. crypto industry is driving private sector talent towards other countries.
By Federal Newswire | Mar 8, 2024
Christian Catalini, founder of the MIT Cryptoeconomics Lab, has stated to Federal Newswire that blockchain analytics companies are playing a crucial role in supporting government efforts to tackle illicit fund movements. He pointed out that the transparent nature of blockchain offers increased visibility into crypto transactions, which can be harnessed to address unlawful activities.
By Federal Newswire | Mar 7, 2024
Two representatives from Binance, the world's largest cryptocurrency exchange, including an American citizen, have been detained in Nigeria. This development follows their journey to the country for discussions with government officials. As the Nigerian government grapples with an economic crisis, Binance has suspended its services related to the Nigerian naira (NGN).
By Federal Newswire | Mar 2, 2024
Two former employees of FTX and Alameda Research have launched a new cryptocurrency exchange, Backpack. Following a series A funding round, the company has been valued at $120 million. Founded in October 2023, this development comes 11 months after the bankruptcy and collapse of cryptocurrency exchange FTX.
By Federal Newswire | Mar 2, 2024
The Nigerian Government is seeking billions of dollars from the cryptocurrency exchange, Binance, amidst a foreign exchange crisis. The government alleges that Binance has established an unofficial exchange rate in the country and has contributed to the ongoing economic disruption in Nigeria.
By Federal Newswire | Feb 29, 2024
Tom Emmer, the House Majority Whip and Republican representative from Minnesota, has accused the Office of Management and Budget (OMB) of abusing its emergency powers to fast-track a request from the Energy Information Agency (EIA). The request is aimed at making Bitcoin miners subject to a mandatory survey. Emmer has raised multiple questions about this "emergency survey" in a letter addressed to OMB Director Shalanda Young.
By Federal Newswire | Feb 29, 2024
Cryptocurrency firm Gemini has been directed to refund $1.1 billion to its customers, following a settlement reached with the New York Department of Financial Services (NYDFS). In addition to customer reimbursement, the company has also been instructed to pay a $37 million fine for 'significant failures.'
By Federal Newswire | Feb 28, 2024
Jack Solowey, a policy analyst at the Center for Monetary and Financial Alternatives of the Cato Institute, recently addressed the issue of illicit activity in cryptocurrency compared to that in the traditional financial system. In an interview with Federal Newswire, Solowey highlighted that transactions conducted on blockchains are openly recorded, unlike those in the traditional financial system which remain closed.
By Federal Newswire | Feb 28, 2024
Jack Solowey, a policy analyst at the Cato Institute's Center for Monetary and Financial Alternatives, has proposed that the U.S. government could bolster national security through the implementation of blockchain solutions in collaboration with the private sector. Speaking to Federal Newswire, Solowey highlighted that law enforcement agencies can leverage the transparent and immutable characteristics of blockchains to disrupt illicit activity involving cryptocurrencies.
By Federal Newswire | Feb 28, 2024
Jack Solowey, a policy analyst at the Cato Institute's Center for Monetary and Financial Alternatives, recently highlighted the potential of blockchain technology in strengthening U.S. national security. Speaking to Federal Newswire, Solowey stated that blockchain technology can serve various purposes beyond its known payments-related functions. He emphasized that blockchains can protect sensitive information from authoritarian regimes, including recordings of pro-democracy statements from Hong Kong and testimonies of Holocaust survivors.
By Federal Newswire | Feb 28, 2024
Bitcoin Exchange-Traded Funds (ETFs) have set a new record in trading volume, with over $2 billion sold in a single day. On February 26, the spot bitcoin ETF marked a record-breaking volume of $2.4 billion, followed by $2 billion the following day.
By Federal Newswire | Feb 28, 2024
MicroStrategy, a business intelligence firm, has recently augmented its bitcoin holdings by an additional $155 million. This latest investment elevates the company's total stake in cryptocurrency to over $11 billion.
By Federal Newswire | Feb 24, 2024
A federal judge has approved the $4.3 billion plea deal that Binance, a prominent cryptocurrency exchange, has negotiated with the United States Department of Justice. Binance will plead guilty to violations of sanctions and anti-money laundering laws.
