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 Bitcoin Policy Institute announced the launch of the Peer-to-Peer Rights Fund, a new initiative aimed at protecting Bitcoin’s decentralized nature from regulatory overreach. The fund’s inaugural objective is to defend the founders of Samourai Wallet, Keonne Rodriguez, and William Lonergan Hill. They face charges of conspiracy to commit money
A substantial positive inflow of $305.7 million was seen in Spot Bitcoin ETF flows on Tuesday, May 21. It was BlackRock’s iShares Bitcoin Trust (IBIT) that spearheaded this massive influx of capital. When it came to the most recent trading session’s inflow, the IBIT ETF stood head and shoulders above
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
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
The minutes from last week’s Federal Reserve meeting and Nvidia’s massive earnings release will be the economic highlights. Markets might be somewhat swayed by news on consumer inflation predictions and global manufacturing and services indices. A first occurred last week when the DJIA, the U.S. stock market index, surpassed the
Bitcoin dominates the crypto market and is often considered digital gold. It seems primarily to be a digital store of value and is trying new dimensions to transform its functionality and appeal. After the halving and approval of ETFs, what will further lead to the value of BTC is the
The average weekly number of new Bitcoin addresses approached its greatest levels since its all-time high in December 2017, six months ago, due to enthusiasm over spot Bitcoin ETFs, innovations in the Bitcoin ecosystem like Ordinals, and the imminent halving. The enthusiasm around new Bitcoin projects has waned, and the
Bitcoin bulls made a comeback this week, surprising many investors after facing downward movements since the start of the month. Yesterday, BTC hit a five-week high of $67,700. In the past week, it surged 10.33%, and on a monthly timeline, it increased by 4%. The trading volume is up by
The Venezuelan government has stated its intention to detach cryptocurrency mining farms from the power grid in order to control the country’s excessive energy consumption and guarantee a steady supply of electricity to its residents. In an effort to combat corruption, the government recently confiscated 2,000 crypto mining devices, prompting
