Category: crypto

Ripple CEO Brad Garlinghouse is urging US lawmakers to establish a regulatory framework for stablecoins to maintain the country’s competitive edge. The failure to advance the GENIUS Act, a bill for stablecoin regulation, has drawn criticism from Treasury Secretary Scott Bessent. Stablecoin adoption is on the rise, with transaction volumes hitting record highs. Traditional financial…

German law enforcement shut down the crypto exchange eXch and seized over $38 million in digital assets due to failure to comply with anti-money laundering regulations. Bitcoin, Ethereum, Litecoin, and Dash were among the assets confiscated. The platform is accused of facilitating illegal activities, including ties to the $1.5 billion Bybit theft. Despite announcing closure,…

Bitcoin surpassed $100,000, reaching $104,000 on May 8, correlating with the global M2 money supply lagged by 90 days. This correlation has been a focus of trading forums and analysts, with some predicting Bitcoin’s continued rise. However, the correlation is elastic and influenced by external factors, making it a useful but not definitive tool for…

SEC Commissioner Caroline Crenshaw strongly opposes the recent settlement between the SEC and Ripple Labs, arguing that it weakens regulatory oversight and fails to protect investors. She believes the deal undermines the court’s and SEC’s authority and sets a troubling precedent for future enforcement. Crenshaw warns that the agreement reflects a broader retreat from effective…

The Senate rejected cloture on the GENIUS Act bill, aiming to regulate stablecoins. Democrats accused of filibustering, causing a one-vote difference. Treasury Secretary Bessent emphasized the need for American leadership in crypto. Senator Lummis expressed disappointment. Galaxy Digital and Digital Chamber officials hope for a revised bill. Variant Fund and Solana Policy Institute foresee bipartisan…

Standard Chartered’s head of digital assets research, Geoffrey Kendrick, predicts Bitcoin will reach new record highs sooner than expected due to institutional inflows and a global shift in asset allocation. He initially projected a $120,000 price target for Q2 but now believes it may be too low. Bitcoin was trading at $101,751.

Former Celsius CEO Alex Mashinsky was sentenced to 12 years in prison for defrauding customers by misrepresenting investment risks and manipulating the company’s token price. He profited $42 million from the scheme and misled investors about Celsius’s financial stability. Mashinsky pleaded guilty to fraud and market manipulation charges, accepting a sentencing guideline of up to…

Hester Peirce, head of the SEC Crypto Task Force, criticized the slow approval process for spot Bitcoin ETFs and urged patience from crypto market participants. She emphasized ongoing regulatory delays due to litigation and internal deliberations. Peirce, known as “Crypto Mom,” warned that ETF approval does not indicate asset legitimacy, and investors must make decisions…

The SEC filed a proposed settlement agreement with Ripple, CEO Brad Garlinghouse, and Executive Chairman Chris Larsen to resolve a civil enforcement action. The agreement includes a $50 million civil penalty and the release of a $125 million escrow. The settlement does not imply guilt, but aims to conclude the four-year legal battle.

Zerebro founder Jeffy Yu was found alive at his parents’ house in San Francisco, confirming suspicions that his “suicide” was staged. The hoax involved a fake obituary, a memecoin launch, and suspicious wallet activity. Yu claimed he staged his death to escape harassment and threats. Law enforcement has not commented on the matter.