The former US president and Republican candidate for president this year, Donald Trump, has once again shown his support for cryptocurrency. His ambitions to back crypto startups were disclosed in a post the former president made on Truth Social, his social media platform. For some time now, people have seen
In the past 24 hours, the crypto market has witnessed a dip in market cap by 3.19%. Bitcoin has struggled to maintain its prices above the $66K resistance. While the leading altcoin ETH prices have dropped 3.54% in the past 24 hours. However, over the week the crypto market exhibits
According to the most recent annual household survey conducted by the Federal Reserve, the number of individuals in the United States who reported owning or using cryptocurrency fell to around 18 million in 2023. Following drops of 10% in 2022 and 12% in 2021, the Federal Reserve’s Survey of Household
In a historic move, the United States House of Representatives approved H.R.4763, known as the Financial Innovation and Technology for the 21st Century (FIT21) Act, on May 22. The bill, aimed at providing regulatory clarity for digital assets, passed with a significant majority in a 279 to 136 vote. This
Concerned that FIT 21 does not adequately safeguard investors, the White House has opposed the bill. Despite the bill’s potential to impact future crypto market laws, this step is still being made. Additionally, the statement highlights the administration’s readiness to collaborate with Congress to improve the digital assets’ legal framework.
Ethereum co-founder Vitalik Buterin has recently made a significant transfer of 80 ETH, approximately valued at $300K, to the privacy protocol Railgun. This transfer is part of his routine; he transferred small amounts of ETH to Railgun monthly over the past six months, and this reflects his commitment to transaction
In a statement issued on Wednesday, U.S. Securities and Exchange Commission Chair (SEC) Gary Gensler openly voiced his opposition to the FIT21 Act, also known as the Financial Innovation and Technology for the 21st Century Act. Gensler stated: “[FIT21] would create new regulatory gaps and undermine decades of precedent regarding
The House of Representatives will vote on a bill this week that would define the responsibilities of financial regulators with regard to digital assets, according to Republican members of the US House Financial Services Committee. House Republicans said in a X post on May 20 that the FIT21 Act, an
A $2 billion settlement has been reached between the New York State Attorney General’s office and Genesis Global Holdco. Prolonged discussions stemming from allegations of misrepresenting Genesis-related financial activities led to this conclusion. Genesis is now in the bankruptcy process, therefore the deal must be accepted by a bankruptcy court.
With his resignation, Michael Sonnenshein, CEO of Grayscale Investments, has ended his ten-year tenure with the firm. Peter Mintzberg, who is now Goldman Sachs’ Global Head of Strategy, will succeed Michael Sonnenshein, according to the Wall Street Journal (WSJ). Michael Sonnenshein’s legacies are still plainly visible to everyone. As a
