Author: Max Bauer
President Donald Trump is expected to pardon Ross Ulbricht, the founder of the now-defunct dark web marketplace Silk Road, according to sources close to the White House. This pardon would vacate Ulbricht’s current life sentence. The Post has learned from a White House source that the pardon is “incoming” and expected soon. This information is corroborated by Ulbricht’s clemency lawyer, Brandon Sample, who stated in an email on Tuesday, “We do expect President Trump to grant clemency.” Ulbricht, now 40, was arrested in San Francisco in October 2013. He was accused of operating Silk Road, a website notorious for facilitating…
The Securities and Exchange Commission (SEC) today announced the formation of a new task force dedicated to developing a comprehensive and clear regulatory framework for crypto assets. The announcement, made by SEC Acting Chairman Mark T. Uyeda, signals a potential shift in the agency’s approach to cryptocurrency regulation. The task force will be led by Commissioner Hester Peirce, a known advocate for regulatory clarity in the crypto space. Richard Gabbert, Senior Advisor to the Acting Chairman, will serve as Chief of Staff, and Taylor Asher, Senior Policy Advisor to the Acting Chairman, will act as Chief Policy Advisor. The task…
MicroStrategy shareholders have voted to increase the number of authorized Class A common stock and preferred stock, paving the way for the company to continue its aggressive bitcoin acquisition strategy. The move, approved on Monday, comes on the heels of the company’s announcement earlier this week of yet another substantial bitcoin purchase. The decision reinforces MicroStrategy’s commitment to its ambitious “21/21 plan,” unveiled last October. This plan outlines the company’s intention to raise $42 billion – $21 billion in equity and $21 billion in fixed-income securities – to bolster its bitcoin treasury reserve. As of January 20th, approximately $5.42 billion…
Melania Trump, the wife of the new President of the United States, Donald Trump, appears to have launched a memecoin of her own. In posts on X and Truth Social, Melania Trump announced the launch of a memecoin called MELANIA on the Solana network. At first it was thought that Melania Trump’s social media accounts had been hacked, but the post was retweeted by Donald Trump’s official X account. You can see the price action below. This is a developing story…
Coinbase, the largest cryptocurrency exchange in the United States, has publicly endorsed the creation of a US strategic bitcoin reserve. This endorsement came Friday in a blog post by CEO Brian Armstrong focused on “economic freedom,” shared exclusively with Axios ahead of its release. The timing is notable, coming just before President Trump’s second inauguration and Armstrong’s attendance at the World Economic Forum. Armstrong, who has become a prominent voice for the crypto industry in Washington, has taken a more assertive stance with regulators than many of his counterparts. This marks the first time Coinbase has explicitly supported the concept…
The U.S. Securities and Exchange Commission (SEC) has charged Digital Currency Group (DCG) and its subsidiary, Genesis Global Capital, along with former Genesis CEO Michael Moro, for misleading investors about Genesis’s financial health following the collapse of Three Arrows Capital in 2022. DCG has agreed to pay a $38 million penalty, while Moro will pay $500,000. According to the SEC’s order, the charges stem from the aftermath of Three Arrows Capital’s default on a margin call in June 2022. This default resulted in approximately a $1 billion loss for Genesis, significantly impacting its financial stability. However, the SEC alleges that…
Bitcoin is on a tear, rallying towards its largest weekly gain since the US election week in November, driven by anticipation surrounding pro-crypto President Donald Trump’s second inauguration. The world’s leading cryptocurrency has surged approximately 11% since Sunday, reaching $104,512 on Thursday, a 4.96% increase for the day. This impressive climb follows a period of fluctuating performance, with Bitcoin experiencing declines in three of the previous four weeks, after hitting an all-time high of $108,315 in December. The renewed optimism in the crypto market is largely attributed to Trump’s anticipated pro-crypto stance during his second term. “The market is now…
Bitcoin’s price has rebounded to $96,000 after a week-long dip to $90,000, fueled by reports that incoming US President Donald Trump plans to implement pro-crypto policies immediately upon his January 20th inauguration. Sources cited by the Washington Post suggest Trump will issue executive orders addressing alleged “debanking” and reversing the controversial SAB 121 policy, which restricts banks from servicing crypto firms. This move was anticipated by crypto billionaire Mike Novogratz, who identified SAB 121 as a Joe Biden-era policy likely to be repealed under a Trump administration. According to the Washington Post, Trump’s early embrace of a crypto legislative strategy…
In a recent interview, SEC Chair Gary Gensler defended the agency’s approach to regulating the cryptocurrency market, emphasizing the need for investor protection and compliance with existing securities laws. He reiterated his stance that while Bitcoin itself is not a security, many of the thousands of other crypto tokens are, and the market has been rife with non-compliance. Gensler addressed criticisms that the SEC has focused more on enforcement actions than establishing clear regulations, stating, “We have laws. Congress has passed those laws…But a sector of this field, crypto, the investing public is investing based on projects…without prejudging any one…
Amidst market volatility and concerns about inflation, Fundstrat Capital CIO and Head of Research, Tom Lee, remains bullish on Bitcoin, predicting it will be one of the best-performing assets of the year. In a recent CNBC interview, Lee discussed his market outlook, emphasizing the potential for a market turning point this week, driven by positive earnings and easing inflation data. Lee acknowledged recent market corrections, linking them to investor nervousness surrounding rising yields. However, he downplayed the significance of the Federal Reserve’s interest rate decisions, stating his market analysis isn’t based on rate cut predictions. He believes the market has…