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A year after FTX founder SBF was convicted of fraud, U.S. prosecutors filed a lawsuit in a New York court on Tuesday seeking to confiscate SBF's cryptocurrency. Its cryptocurrency, held in an account containing Solana and Ripple, was valued at $8.60 million as of December 12, 2023. It has appreciated to $18.50 million in the past 11 months, mainly due to the sharp increase in the price of Solana.
Paolo Ardoino, chief executive of Tether, said at DC Fintech Week on Tuesday that the US was expected to catch up on cryptocurrency regulation. "Nowhere can compare to the US," he said. "I think it's very, very important to have sensible cryptocurrency regulations and stablecoin regulations in place to protect end users." He predicted that would happen in the US. Ardoino said: "We are buying a lot of US debt, and the most important job of a stablecoin issuer is to be able to liquidate the reserv...
US banking mergers are set to face tougher regulatory scrutiny under new guidance voted on Tuesday by the Federal Deposit Insurance Corporation. The plan is the latest step in the Biden administration's campaign to severely restrict mergers among financial firms and will increase scrutiny to more directly consider the impact on financial stability, competition, communities and customers. For a deal to be approved, the FDIC hopes that the combined company will be better able to meet the demands o...
On September 10th, crypto trading platform Gemini said in its "Global State of Crypto 2024" report on Tuesday that despite facing some significant headwinds, crypto adoption rates in the United States and the United Kingdom have remained stable in recent years, and the retail market now looks ready to rebound. The report, based on a survey of 6,000 people in the United States, the United Kingdom, France, Singapore, and Turkey, was conducted online from May 23 to June 28 this year. The report sta...
Paul Grewal, Coinbase's chief legal officer, said in an interview with Bloomberg on Tuesday: "Regardless of the outcome of individual races and of course the outcome of the presidential race, we are going to see a pro-cryptocurrency Congress emerge at a time when bipartisan support for crypto-friendly legislation is growing on Capitol Hill."
On July 16th, ETF analyst Eric Balchunas: I heard that the SEC finally replied to the issuers today, asking them to return the final Spot Ethereum ETF S-1 application documents on Wednesday, and request to take effect after the close of the market next Monday, in order to issue on Tuesday, July 23rd. Of course, provided that there are no unforeseen "last minute issues" before then.
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