Latest News
By Federal Newswire | Sep 27, 2023
FTX, the cryptocurrency exchange that filed for bankruptcy last fall, has filed a lawsuit against the parents of its founder and former CEO, Sam Bankman-Fried. The complaint accuses Joseph Bankman and Barbara Fried of taking advantage of their relationship with FTX to make themselves wealthier at the expense of FTX customers.
By Federal Newswire | Sep 26, 2023
A group of bipartisan lawmakers sent a letter to SEC Chair Gary Gensler urging him to approve applications for spot bitcoin exchange traded products (ETP). The Congressmen argued that regulated spot bitcoin ETPs would enhance investor protection through increased transparency. The letter, signed by Republican Congressmen Mike Flood and Tom Emmer, and Democrat Congressmen Wiley Nickel and Ritchie Torres, specifically asked Gensler to "ensure" that the SEC stops discriminating against spot bitcoin ETPs. The lawmakers criticized the SEC's denial of Grayscale's application to...
By Federal Newswire | Sep 26, 2023
Majority Whip Tom Emmer's (MN-6) CBDC Anti-Surveillance State Act has advanced out of the House Financial Services Committee. The legislation would bar the Federal Reserve from issuing a central bank digital currency (CBDC) to individuals either directly or through intermediaries and would prohibit the Fed from using CBDC in monetary policy.
By Federal Newswire | Sep 26, 2023
On Thursday, September 21, 2023, Binance Holdings and its CEO, Changpeng Zhao (CZ), submitted a motion to dismiss the lawsuit initiated by the U.S. Securities and Exchange Commission (SEC). The filing, made to the U.S. District Court for the District of Columbia, contends that the SEC had overstepped its jurisdiction in the case. The filing argues that the regulatory agency didn't offer clear cryptocurrency sector guidelines, making their legal action unwarranted.
By Federal Newswire | Sep 26, 2023
In a recent interview, Richard Teng, the head of regional markets at Binance, dismissed comparisons between Binance and FTX, the crypto exchange that collapsed and filed for bankruptcy last year. Teng emphasized that Binance is financially secure and that any association between the two exchanges is unfounded.
By Federal Newswire | Sep 20, 2023
In a recent development, the U.S. Securities and Exchange Commission (SEC) has been denied its request to inspect Binance.US's software. This decision came from federal judge Zia Faruqui, further escalating the legal battle between the regulator and the U.S. affiliate of the world's largest cryptocurrency exchange.
By Federal Newswire | Sep 20, 2023
Ripple, the blockchain-based digital payment network, has announced that it will be hiring the majority of its new employees from jurisdictions with more regulatory clarity for cryptocurrencies than the United States. This decision comes after Ripple faced regulatory scrutiny in the U.S., though it won a court victory earlier this year when a judge ruled that its token XRP is not a security.
By Federal Newswire Report | Sep 13, 2023
Majority Whip Tom Emmer has announced a plan to sponsor an appropriations amendment to restrict the U.S. Securities and Exchange Commission's (SEC) use of funds for enforcement actions related to digital assets until a comprehensive regulatory framework is in place for the digital asset industry. The SEC has accused numerous cryptocurrency exchanges of violating securities laws this year, while members of the crypto industry argue that digital assets are not covered by existing regulations.
By Federal Newswire Report | Sep 7, 2023
A new report from Nasdaq highlights speed and accountability as two of the reasons that more philanthropic organizations are utilizing cryptocurrency and blockchain technology to make their efforts more efficient. The report said that when charitable organizations partner with crypto companies, the charities can amplify their reach and impact.
By Federal Newswire Report | Sep 5, 2023
In the realm of finance's future, a unique column by Fortune Magazine, titled "Future of Finance," engages prominent figures within major companies, delving into their roles, their company's integration within the crypto ecosystem and the implications of this evolution on the usage of currency.
By Federal Newswire Report | Sep 4, 2023
Bitcoin (BTC) embarked on a robust rally Aug. 29 in response to a U.S. court's verdict that the U.S. Securities and Exchange Commission erred in rejecting crypto asset manager Grayscale's bid to transform its bitcoin trust into an exchange-traded fund (ETF), with the court deeming the decision as "arbitrary and capricious."
By Federal Newswire Report | Aug 31, 2023
On Aug. 29, a federal court issued a ruling that increases the likelihood that the SEC will grant approval for various applications for bitcoin spot exchange-traded funds (ETFs).
By Federal Newswire reports | Aug 30, 2023
Binance Labs, the venture capital arm of the largest crypto exchange in the world, has announced an investment in Pendle Finance, a tokenized yield protocol. Yi He, the head of Binance Labs, and Yibo Ling, the chief business officer of Binance Labs, have said that Binance Labs invests prudently in projects that support Binance's vision of the future of decentralized finance.
By Federal Newswire Report | Aug 30, 2023
The U.S. Securities and Exchange Commission (SEC) announced on Aug. 28 that it had settled its first enforcement action related to non-fungible tokens (NFTs). SEC Commissioners Hester Peirce and Mark Uyeda dissented, saying that they disagreed with the SEC's application of the Howey test.
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By Federal Newswire reports | Aug 28, 2023
Binance, the largest cryptocurrency exchange in the world, is considering a full withdrawal from Russia. The announcement comes days after the crypto giant removed sanctioned Russian banks from its peer-to-peer service.
By Federal Newswire Report | Aug 28, 2023
Erin Fracolli, the Global Head of Intelligence and Investigations at Binance, the largest cryptocurrency exchange in the world, and Erin West, a deputy district attorney in Santa Clara County, spoke on a recent episode of the Crossing the Chain podcast about the importance of collaboration between law enforcement and crypto companies. Fracolli and West said that collaboration is key both in assisting victims of scams and in proactively identifying and disrupting criminal networks.
By Federal Newswire Report | Aug 25, 2023
Bitcoin's value has experienced a significant crash, attributed to a broader apprehension within the financial markets, with the leading cryptocurrency witnessing a decline of more than 7%.
By Federal Newswire Report | Aug 24, 2023
A Chinese government official was sentenced to life in prison Aug. 22, due to his involvement in illegitimate business operations associated with a 2.4 billion Chinese yuan Bitcoin mining venture, alongside unrelated corruption.
By Federal Newswire Report | Aug 24, 2023
Amidst what was initially perceived as the imminent approval of a spot-based Bitcoin exchange-traded fund (ETF), optimism has started to fade, evidenced by $42 million worth of outflows from BTC alone during the week, as of Aug. 21.
By BD | Aug 23, 2023
Cryptocurrency exchange Gemini is seeking to dismiss a complaint filed against it in January by the U.S. Securities and Exchange Commission (SEC) over an alleged unregistered securities offering. A memo filed on Aug. 18 in support of Gemini's motion to dismiss asserts that the SEC has failed to identify both the security and the supposed sale or offering of the security.
