Author: Max Bauer
The U.S. Attorney’s Office for the Southern District of New York (SDNY) plans to reduce its focus on cryptocurrency-related crimes following a string of high-profile convictions, including that of FTX founder Sam Bankman-Fried. This announcement comes just a day after former SEC Chairman Jay Clayton was nominated by Donald Trump to serve as the new U.S. attorney for the district. Scott Hartman, co-chief of the SDNY’s securities and commodities task force, revealed the shift in priorities at a Practising Law Institute conference in New York on Friday. He explained that while the office won’t entirely abandon cryptocurrency cases, the number…
Senator Cynthia Lummis (R-WY), a staunch ally of President-elect Donald Trump, has unveiled a plan to fund the incoming administration’s proposed strategic Bitcoin reserve by selling off a portion of the Federal Reserve’s gold holdings. The proposal aims to acquire 1 million Bitcoin, roughly 5% of the total supply, without increasing the government deficit. Lummis intends to introduce a bill in the new Congress that would authorize the purchase, estimated to cost around $90 billion at current market prices. However, this figure could rise if market anticipation of government buying drives up Bitcoin’s price. “We already have the financial assets…
Bitwise Asset Management announced today that NYSE Arca has filed to list the Bitwise 10 Crypto Index Fund (BITW) as an exchange-traded product (ETP). This marks a significant milestone in Bitwise’s efforts to convert the $1.3 billion publicly traded trust, currently quoted on the OTCQX Best Market, to an ETP structure. “Bitwise believes that ETPs are among the most efficient, convenient, and useful vehicles for providing crypto exposure,” said Hunter Horsley, CEO of Bitwise. “We remain committed to converting BITW to an ETP.” The transition to an ETP structure offers several advantages for shareholders, including improved efficiency, enhanced regulatory protections,…
Former SEC enforcement attorney John Reed Stark, previously a vocal critic of cryptocurrencies, has called for SEC Chair Gary Gensler’s resignation following Donald Trump’s presidential election victory. Stark, known for his hawkish stance on digital assets, now argues that the election results mandate a shift in the SEC’s approach to crypto regulation. In a recent statement, Stark urged the SEC staff to compile a comprehensive list of all ongoing crypto-related investigations, litigation, and rule-making initiatives, so that a new Chair can “swiftly grind them all to a screeching halt.” He asserted that “the people have spoken and their will must…
Societe Generale-Forge (SG-Forge) has announced its intention to launch its euro-backed stablecoin, EURCV, on the XRP Ledger (XRPL) in 2025. This move follows successful deployments of EURCV on Ethereum and Solana, and underscores SG-Forge’s strategy of multi-chain expansion for its MiCA-compliant stablecoin. The integration will be powered by Ripple Custody. The XRP Ledger’s speed, low transaction costs, and scalability were cited as key factors in the decision. The XRPL boasts a robust track record, having processed over 2.8 billion secured transactions since 2012 and supporting over 5 million active wallets. It has also hosted over 1,750 unique applications and exchanges.…
Tether, the leading stablecoin issuer, has launched Hadron by Tether, a groundbreaking platform designed to simplify the tokenization of a wide range of assets, from traditional financial instruments like stocks and bonds to digital assets, loyalty points, and more. The platform leverages Tether’s decade-long experience in the digital asset industry, aiming to democratize asset tokenization and open up new opportunities for individuals, businesses, and governments. Hadron by Tether offers a user-friendly interface for issuing and managing digital tokens throughout their entire lifecycle. The platform prioritizes security, reliability, and a seamless user experience, while also providing a comprehensive suite of tools…
The FBI seized the phone and electronic devices of Polymarket CEO Shayne Coplan early Wednesday morning, just a week after the prediction market platform correctly forecasted President-elect Donald Trump’s victory, a source close to the matter revealed to The Post. The 26-year-old entrepreneur was reportedly awakened at 6:00 a.m. in his Soho residence by US law enforcement officers who demanded his devices. The source described the incident as “grand political theater at its worst,” criticizing the FBI’s approach. “They could have requested these items through his lawyer,” the source stated. “Instead, they orchestrated a so-called raid, seemingly for the purpose…
President-elect Donald Trump has nominated Pete Hegseth, a Fox & Friends Weekend co-host, army veteran, and outspoken Bitcoin advocate, for the position of Secretary of Defense. The announcement, made Tuesday in a Trump-Vance transition statement, has sparked both praise and controversy. Hegseth has been a vocal supporter of the cryptocurrency industry, publicly discussing his personal investments and emphasizing Bitcoin’s value proposition as an asset free from government control. Following Coinbase’s IPO in 2021, he described it as the “tip of the iceberg” for the crypto market, highlighting Bitcoin’s finite supply as a key strength in a world of inflationary monetary…
Billionaire cryptocurrency investor Mike Novogratz has suggested that Bitcoin could reach a staggering $500,000 if the United States were to add it to its strategic reserves. He made the bold prediction during a live interview on Bloomberg, sparking renewed discussion about the future of the leading cryptocurrency. Novogratz’s comments come in the wake of a purported statement attributed to US President-elect Donald Trump, promising to make Bitcoin a reserve asset and halting government sales of the cryptocurrency. However, Novogratz himself expressed skepticism about the likelihood of such a scenario unfolding. He emphasized that for Bitcoin to reach such a price…
BlackRock, the world’s largest asset manager, is broadening its reach in the digital finance space by expanding its tokenized liquidity fund, BUIDL, to multiple prominent blockchains. Initially launched on the Ethereum network in March 2024, BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), tokenized by Securitize, will now be available on Aptos, Arbitrum, Avalanche, Optimism’s OP Mainnet, and Polygon. This expansion marks a significant step in BlackRock’s commitment to pioneering real-world asset tokenization, allowing BUIDL to integrate across diverse blockchain ecosystems. With the new blockchain support, users and applications within these ecosystems can now engage with BUIDL natively, benefiting from features…