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After raising concerns over Coinbase’s lending product, US SEC Chairman Gary Gensler has once again reiterated that cryptocurrency exchanges should register with the commission. (Read More)
The US SEC is investigating the world’s largest decentralized finance exchange, Uniswap. The move is part of the regulator’s wider efforts to monitor and regulate DeFi projects. (Read More)
Read Friday's breaking news in the daily digest!
Ripple, a cryptocurrency and remittance services company, expects to start offering its services to U.S.-based businesses after the recent ruling that determines the XRP token is not “necessarily a security” on its face. Stuart Alderoty, Ripple’s CLO, stated the company hopes to start talking with possible customers this quarter. Ripple Hopeful About U.S. Business [...]
The post Ripple Expects Business to Pick Up in the US After Landmark Ruling appeared first on Crypto Breaking News.
U.S. Rep. Ritchie Torres has called for an investigation into the special purpose broker-dealer (SPBD) license given by the U.S. Securities and Exchange Commission (SEC) to Prometheum, a cryptocurrency exchange platform. In two letters sent to U.S. Comptroller General Gene Dodaro and SEC Inspector General Deborah Jeffries, Torres calls for investigation of the “backroom deals” [...]
The post US Representative Ritchie Torres Calls for Investigation of SEC Over Prometheum’s License appeared first on Crypto Breaking News.
Democratic Party members of the U.S. House Committee on Financial Services were handed a memo instructing them to back the party’s position on crypto regulation moments before the commencement of the hearings on May 10. According to the party’s leaked memo, Democrats on the committee were expected to point to the Republican Party’s lack of
The post Leaked Memo Suggests Democrats on US House Committee Were Told to Support Party Position on Crypto Regulation appeared first on BTC Ethereum Crypto Currency Blog.
As the United States approaches its presidential election on Tuesday, November 5, 2024, the Bitcoin market is bracing for significant volatility. In the lead-up to the election, Bitcoin surged to a high of $73,620 on Tuesday, likely reflecting investor optimism over a potential victory for former President Donald Trump. However, by Friday, the BTC price experienced a correction, dipping to $68,830 amid a more cautious, risk-off sentiment as the election looms. How To Trade Bitcoin During US Election Alex Krüger, an Argentine economist and renowned crypto analyst, shared his strategic framework on how to trade Bitcoin during the US election period via his X account. Krüger outlined scenarios based on possible election outcomes, highlighting that a Trump victory could propel Bitcoin to $90,000 by year-end with a 55% probability, while a win for Vice President Kamala Harris might see Bitcoin settle around $65,000 with a 45% probability. He emphasized that timing will matter: Expect the move to be fast if Trump wins. Markets rarely waits for laggards on binary events not largely front-run. Krüger also noted that the current Bitcoin price, which he anticipated to be in the $65k-68k range leading up to election night, had “overshot” in alignment with the probabilities favoring a Trump victory. He pointed out the uncertainty surrounding the election results, primarily hinging on the Pennsylvania vote count, which could delay the announcement of a clear winner. Related Reading: Bitcoin Set To Gain If Trump Wins, JPMorgan Cites Debasement Trade As Key Factor It largely depends on the Pennsylvania count, if it is lopsided or not. It could be as early as Tuesday evening EST, or days later if the count is very tight. The sooner we get clarity, the easier it gets,” Krüger stated. Regarding market sentiment, Krüger expressed a bullish outlook on equities regardless of the election outcome, unless there is an unexpected “Blue sweep” where Democrats secure both the presidency and congressional majorities. He explained that “equities drag Bitcoin around. In his personal investment strategy, Krüger revealed that he is positioned with long spots in Bitcoin and Nvidia, and plans to go long on Solana (SOL) if Trump wins. With this, Krüger is likely betting on a spot Solana Exchange Traded Fund (ETF) approval in the United States. Krügers analysis suggests that the market has partially priced in a Trump victory, anticipating that a Trump administration could bolster the Bitcoin price. Markets have partially priced a Trump victory in. We (the market, in aggregate) expect Trump to drive crypto prices higher due to increased regulatory clarity and implementation of pro-crypto policies, the analyst wrote. Related Reading: Can Bitcoin Hit $200,000 Only If The Dollar Falls? Bitwise CIO Answers Additionally, he expects that Trump’s focus on increased government spending would stimulate short-term economic growth, positively impacting equitiesa sector closely linked to Bitcoin’s performance. Conversely, a Harris victory would likely represent a continuation of existing policies, barring a significant Democratic sweep. Krüger concluded: Based on betting markets and various election forecasting models, Trump’s probabilities are in the 50% to 63% range. Ergo, it’s “safe” to assume a GOP victory is far from being fully priced in. Such a contested setup is common going into elections. That is why I do not expect sell the news. At press time, BTC traded at $70,402. Featured image created with DALL.E, chart from TradingView.com
John Reed Stark, founder and former chief of the Office of Internet Enforcement of the U.S. Securities and Exchange Commission (SEC), has warned about a new regulatory “siege” against crypto platforms. Reed Stark believes that “crypto trading platforms are high-risk, perilous, and inherently unsafe” and recommends investors exit all crypto exchanges. Former SEC Enforcement Chief
The post Founder of SEC Office of Internet Enforcement Warns of Upcoming Regulatory Siege: ‘Get Out of Crypto Platforms Now’ appeared first on BTC Ethereum Crypto Currency Blog.
Brad Garlinghouse, the CEO of Ripple, has criticized the crypto “pro-innovation” stance of the U.S. Securities and Exchange Commission (SEC) and its recent lawsuits against significant exchanges like Coinbase and Binance. Garlinghouse stated that the SEC was “throwing lawsuits at the wall” to distract attention from the debacle of bankrupted exchange FTX. Ripple CEO Brad
The post Ripple CEO Brad Garlinghouse: ‘The SEC Is Throwing Lawsuits at the Wall’ appeared first on BTC Ethereum Crypto Currency Blog.
A central bank digital currency (CBDC) may turn out to be the “single largest assault to financial privacy since the creation of the Bank Secrecy Act,” a policy analysis document released by CATO Institute has said. To stop the U.S. Federal Reserve and Treasury from threatening the financial system with the CBDC, the document said [...]
The post CATO Institute: CBDC the ‘Single Largest Assault to Financial Privacy Since Creation of Bank Secrecy Act’ appeared first on Crypto Breaking News.
Wyoming U.S. Senator Cynthia Lummis has heavily criticized the recent legal action of the Securities and Exchange Commission (SEC) against Coinbase, stating that it might push the cryptocurrency industry and its innovation offshore. Lummis also remarked that the SEC has failed to streamline a path for cryptocurrency companies like Coinbase to regularize their operations. U.S. [...]
The post US Senator Cynthia Lummis Blasts SEC Actions Against Coinbase, Explains Crypto Industry Is Being Pushed Offshore appeared first on Crypto Breaking News.
The United States’ attempts to “assassinate crypto” are illegal and unlikely to succeed because “crypto is global,” Steven Boykey Sidley, a South African professor and author, has argued. According to Sidley, many formerly U.S.-based companies and innovators have fled the country and have set up bases in countries with more “comfortable” regulatory environments. The United [...]
The post South African Professor Accuses US Regulators of Attempting to ‘Assassinate Crypto’ appeared first on Crypto Breaking News.
The Defi Education Fund, an organization dedicated to expanding the decentralized finance environment, has submitted a Freedom of Information Act (FOIA) request to the U.S. Securities and Exchange Commission (SEC). The documents requested are linked to the SEC’s non-answer to whether syndicated term loan notes constitute securities. Defi Education Fund Issues FOIA Request for SEC [...]
The post Defi Education Fund Submits FOIA Request for SEC’s Docs appeared first on Crypto Breaking News.
Stuart Alderoty, CLO of Ripple, prepared a skit explaining the definition of securities according to the company, supported by the recent ruling in the SEC v. Ripple case. The segment, titled “After Hours,” parodies U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s “Office Hours” series of videos, where he briefly explains investment subjects. [...]
The post Ripple CLO Stuart Alderoty Explains Securities in ‘After Hours’ Parody Skit appeared first on Crypto Breaking News.
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