Gary Gensler, chairman of the United States Securities and Exchange Commission, told the House Financial Services Committee hearing on Sept. 27 that he enjoys testifying before the committee. He had well over four hours of that pleasure that day, much of which was devoted to criticism of his agency’s policies and actions. Among the long
Global businesses are confronting significant headwinds as cross-border payment volumes have rebounded to pre-pandemic levels while grappling with the looming challenges of escalating interest rates. Amidst these complexities, Ripple Labs’ latest insights into the shifting economic landscape reveal their crypto-enabled payment solutions as a countermeasure. Major Pain Points In The Economic Landscape In their recent
United States Representative Tom Emmer spoke out against Securities and Exchange Commission Chair Gary Gensler during a hearing at the House Financial Services Committee on Sept. 27. According to the lawmaker, Gensler has been loyal to Wall Street “at the clear expense of innovation, competition, and everyday Americans.” Over four minutes of questioning, Emmer hinted
Ripple Labs, a prominent blockchain technology firm, has recently appointed Lauren Belive, a former US White House staff member, as Head of US Public Policy and Government. This appointment comes at a crucial juncture as Ripple executives have publicly voiced their concerns and criticisms regarding the US government’s recent position on cryptocurrencies. In response, Ripple
On Sept. 20, the Federal Reserve delivered a message that reverberated through financial markets: interest rates are expected to remain at their highest level in over two decades, and possibly for longer than most market participants’ expectations. This attitude comes against the backdrop of stubbornly high inflation, with the core inflation rate hovering at 4.2%,
In this week’s newsletter, check out Glassnode data that shows nonfungible token (NFT) protocol Bitcoin Ordinals may not be clogging the network. Read about British politicians using the metaverse to discuss opportunities and challenges in Web3, and find out why Rolling Stone says NFTs are “finally totally worthless.” And don’t forget this week’s Nifty News,
Legal frameworks ensuring user privacy and the freedom to choose between central bank digital currencies (CBDCs) and other forms of money will be key in driving CBDC adoption, according to the head of the Bank of International Settlements. Speaking at the BIS Innovation Hub conference in Switzerland on Sept. 27, BIS general manager Agustín Carstens
Bitcoin (BTC) managed to stay above the $26,000 level even as the S&P 500 tumbled to a three-month low and the US dollar index (DXY) rose to a new year-to-date high. This is a mildly positive sign as it shows a lack of aggressive selling at lower levels. Bitcoin remains stuck inside a range and
IBM Quantum and Microsoft have formed a coalition to tackle post-quantum cryptography alongside not-for-profit research tank MITRE, U.K.-based cryptography firm PQShield, Google sibling company SandboxAQ, and the University of Waterloo. We’re proud to be a part of a new community of cybersecurity organizations to accelerate adoption of post-quantum cryptography in commercial & open-source technologies. Learn
The U.S. state of Texas accounts for over 28% of all Bitcoin (BTC) hashing power in the United States, according to the latest Hashrate Map by crypto mining service provider Foundry USA. The newly updated map shows Texas with 28.5% of all Bitcoin hash rate in the country, followed by the states of Georgia claiming
A federal judge has granted a motion from the legal team for Sam Bankman-Fried (SBF) allowing the former FTX CEO to wear business attire during his first criminal trial. In a Sept. 27 order filed in United States District Court for the Southern District of New York, Judge Lewis Kaplan said the United States Marshals
Rep. Patrick McHenry, who chairs the United States House Financial Services Committee, has suggested that he may try to subpoena the Securities and Exchange Commission (SEC) over documents related to former FTX CEO Sam Bankman-Fried, or SBF. In a Sept. 27 hearing on oversight of the commission, McHenry claimed chair SEC Gary Gensler had made
Steven Nerayoff, an active participant in Ethereum’s (ETH) Initial Coin Offering (ICO), who is believed to know where the “bodies are buried,” has made further revelations in the ongoing ETH Gate saga, which boils on whether or not the US Securities and Exchange Commission (SEC) gave Ethereum a ‘regulatory free pass.’ Lubin’s Piece Of Paper
Cryptocurrency exchange Binance has claimed that it will fully quit Russia by selling its local business to a completely new exchange known as CommEx. While promising its customers a “smooth” migration, Binance hasn’t provided much information about its successor in Russia. At the time of the announcement, little is known about CommEx’s founders or background. The
Brian Armstrong, CEO of major United States-based cryptocurrency exchange Coinbase, has condemned the decision of JPMorgan’s subsidiary Chase UK to restrict crypto-related transactions. Brian Armstrong took to X (formerly Twitter) on Sept. 26 to slam Chase Bank for its “totally inappropriate” move to ban its customers in the United Kingdom from making any debit card
It’s been more than a decade since 850,000 BTC went missing from Mt. Gox, yet the collapse of the former exchange remains one of the most infamous black swan events of the cryptocurrency ecosystem. While creditors of the defunct exchange are edging closer to some form of restitution, Mt. Gox’s demise ended up playing an
The Secretary for Security of Hong Kong, Chris Tang Ping-keung, has vowed to bring justice to people who fell victim to the JPEX crypto exchange fraud, local media has reported. On Wednesday, Sept. 27, the security chief’s office said police are actively looking for the key operators behind the JPEX crypto exchange that orchestrated the
Bitcoin (BTC) broke higher into the Sep. 27 Wall Street open as one analyst predicted a return to $30,000 in October. BTC/USD 1-hour chart. Source: TradingView BTC price reaches for $27,000 in fresh uptick Data from Cointelegraph Markets Pro and TradingView followed BTC price action as bulls gathered steam to reach $26,823 on Bitstamp. The
After losing its euro banking partner, Paysafe, Binance France has proposed that its customers immediately convert all the fiat money they hold on the exchange into crypto, according to comments from an executive to local media. The partnership between Binance France and Paysafe expired on Sept. 25. The latter supported Binance’s French subsidiary with infrastructure
The historic Merge upgrade from Sept. 2022 — which marked Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS) — resulted in the overall decline in compliance with standards laid down by the Office of Foreign Assets Control (OFAC). Ethereum blocks adhering to OFAC compliance censor certain transactions, which has a negative impact on the neutrality