More Freedom of Information Act requests seeking information on recently closed crypto-friendly banks have been submitted by cryptocurrency advocacy group the Blockchain Association to two regulators. On April 14, the association said that it had filed Freedom of Information Law requests to the Federal Housing Finance Agency and the New York Department of Financial Services,
Month: April 2023
Securities and Exchange Commission (SEC) chair Gary Gensler could be facing unemployment after United States Representative Warren Davidson declared he would introduce legislation to fire the SEC boss. In an April 15 tweet responding to Coinbase’s legal chief, Paul Grewal, the crypto-friendly Representative announced his intention to have Gensler removed from his role after the
Recent turmoil in the banking sector has shown that Bitcoin (BTC) and Ether (ETH) can withstand a shaky economy, outperform other asset classes and function like gold, says ARK Invest chief executive Cathie Wood — though one long-time investor still isn’t sold. Wood explained in an April 15 interview that Bitcoin’s resilience throughout the most
Brazil’s President Luiz Inacio Lula da Silva’s chief adviser on foreign policy, Celso Amorim, says China and Brazil “are coming closer together” and they could play important roles in building a less centralized world with no hegemony. Commenting on de-dollarization, he stressed: “I think it’s very important that we are free from the dominance of
A new draft bill providing a framework for stablecoins in the United States was published on the House of Representatives’ document repository, a few days before a hearing on the topic on April 19. The draft puts the Federal Reserve in charge of non-bank stablecoin issuers, such as crypto firms Tether and Circle, respectively issuers
During the weekend, discussions about central bank digital currencies, or CBDCs, trended on social media as many people believe the idea will result in increased financial surveillance and a totalitarian monetary system. In a recent interview, Lynette Zang, the chief market analyst at ITM Trading, warned that CBDCs will “take the world into a full
The United States House Committee on Financial Services a.k.a the Financial Services Committee will hold a hearing on April 19 to discuss stablecoins’ position as a means of payment and whether or not the ecosystem needs supporting legislation. The Financial Services Committee issued a memorandum to announce an upcoming hearing titled “Understanding Stablecoins’ Role in
Digital art auction house Sotheby’s has altered its latest art sale significantly after receiving community feedback regarding a lack of diversity, meanwhile a novice player in Illivium: Beyond has made a staggering profit of 140,525% by finding the most elusive character in the game yet. Sotheby’s reboot Glitch Digital Art Sale after addressing diversity concerns
Nigerian economic experts have said the country’s five-year-old currency swap agreement with China has not eased the pressure against the Nigerian currency. According to one expert, implementation of the swap arrangement is being held back by the size of the trade imbalance between Nigeria and China Easing Pressure on the Naira According to experts on
The law firm representing victims affected by the FTX collapse have publicly appealed to NBA superstar Shaquille O’Neal to show “courtesy and honor” by actually accepting their legal complaint after several unsuccessful attempts. In an April 14 tweet, The Moskowitz Law Firm revealed its team have been standing outside O’Neal’s TNT studios in Atlanta “all
Bitrue cryptocurrency exchange has suffered a hot wallet exploit, allowing attackers to withdraw various crypto assets worth nearly $23 million. Announcing the news on April 14, Bitrue said that it had to temporarily suspend all withdrawals due to a “brief exploit” of its hot wallet. The firm expects to reopen withdrawals on April 18, 2023,
The email addresses of some MetaMask users may have been exposed to a malicious party due to a recently discovered cyber-security incident. According to parent company ConsenSys, the incident affected users who submitted a customer support ticket to MetaMask between August 1, 2021 and February 10, 2023. According to the April 14 blog post, unauthorized actors
Jeffrey Tucker says we are at the turning point for the U.S. dollar, citing a growing de-dollarization trend. “The dollar’s just not going to be king,” he warned, adding that history will record recent events “as the turning point for the dollar.” Jeffrey Tucker on De-Dollarization, USD’s Turning Point Jeffrey Tucker, an author and publisher
Top Stories This Week Ethereum’s Shapella hard fork executed on mainnet The Ethereum blockchain’s mainnet, also referred to as the Beacon Chain, implemented the Shapella hard fork on April 12. The upgrade made fund withdrawals possible for those who have staked the network’s Ether (ETH) asset. Within the first hour of the hard fork, a
Bitcoin (BTC) consolidated into the weekend as market participants stayed optimistic about further gains. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Most still sitting on the sidelines” with Bitcoin Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $30,500 on April 15. The pair had finished the Wall Street trading week on a
Despite the unprecedented regulatory pressure that crypto has been facing recently in the United States, the fight between the American government and the crypto industry has just started, believes ShapeShift CEO Erik Voorhees. According to the entrepreneur, U.S. authorities still don’t see crypto as an existential threat to the fiat system, and their recent crackdown
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