On Jan. 22, Lisa Kruse, commissioner of the North Dakota Department of Financial Institution Group, told members of the House Committee on Industry, Commerce and Labor that the state's residents filed 103 complaints of cryptocurrency scams with the FBI, resulting in a total of $6.50 million in losses in 2023. The FBI reported in September that Americans lost $5.60 billion to cryptocurrency fraud in 2023 and recorded 5,500 cases involving cryptocurrency ATMs with losses exceeding $189 million.
The North Dakota State Law Agency in the United States has introduced Resolution 3001, recommending that a portion of state funds be invested in digital assets and precious metals to counter the impact of inflation. This proposal was co-sponsored by multiple state legislators and aims to protect the state finances through asset diversification. If the resolution is passed, the North Dakota State Legislative Assembly will direct the state Treasury and Investment Committee to set aside a portion o...
According to foreign media reports, Trump chose North Dakota Governor Doug Burgum to lead the Interior Department, a move that put Trump's one-time main rival at the helm of the Interior Department. North Dakota Governor Burgum became a self-made billionaire after selling a software company, a factor that helped him build a relationship with Trump, who once saw Burgum as a potential 2024 rival. If approved by the Senate, Burgum will manage more than 500 million acres of federal...
U.S. Senator John Thune of South Dakota, who was elected majority leader of the U.S. Senate and will lead the Senate Republican caucus in the next term, won a three-way race in a closed-door vote on Wednesday to succeed Minority Leader Mitch McConnell. In the Senate, given the Republican majority of 53 seats, Thune will have some room to maneuver in the Senate. Thune, 63, has not yet committed to the caucus leader position...
Gregory Daco, chief economist at Ernest & Young, said the Fed was cutting rates "reactive" rather than forward-looking, noting that "Powell acknowledged that if the Fed had seen the July jobs data first,...
Dakota, a crypto bank founded on Wednesday by a group of former executives from Airbnb, Anchorage and Coinbase Custody, aims to provide financial management, lending and payment services to businesses. CEO Ryan Bozarth said their model was different from earlier centralized cryptocurrency lenders, with the company at the center of the process: receiving deposits, lending deposits and collecting fees from interest payments.
Founded by a group of former executives from Airbnb, Anchorage and Coinbase Custody, Dakota, a cryptocurrency bank, provides financial management, lending and payment services to businesses that pay a monthly fee and can use a platform that allows them to lend out their deposited cryptocurrency to DeFi protocols. The company is at the center of the process: receiving deposits, lending deposits and collecting fees from interest payments.