Vice President Kamala Harris has reaffirmed her administration’s commitment to ensuring that the United States becomes the world leader in emerging technologies such as blockchain, artificial intelligence (AI), and quantum computing. Speaking at The Economic Club of Pittsburgh on Sept. 25, Harris emphasized the importance of maintaining American dominance in these fields to remain competitive...
Swedish authorities have intensified their scrutiny of cryptocurrency exchanges, labeling some as “professional money launderers (PML)” due to their involvement in facilitating organized crime. According to a recent report by the Swedish Police Authority and the Financial Intelligence Unit (FIU), unlicensed and illegal cryptocurrency exchanges are being used systematically to launder money across multiple criminal...
U.S. Congressmen Tom Emmer and Patrick McHenry have voiced strong opposition to the Securities and Exchange Commission’s (SEC) approach to regulating blockchain technology, particularly its stance on digital asset airdrops. In a letter addressed to SEC Chair Gary Gensler, the lawmakers questioned the rationale behind the SEC’s classification of airdrops as securities, arguing that the...
Bitcoin ATMs, once viewed as a convenient way to buy or sell cryptocurrency, are increasingly becoming prime targets for cybercriminals. The machines, often placed in gas stations and convenience stores across the United States, are susceptible to both digital and physical attacks, according to cybersecurity experts. A recent report from the Federal Trade Commission (FTC)...
In a stark reversal from previous weeks of inflows, US-listed spot Bitcoin exchange-traded funds (ETFs) experienced a substantial outflow of $287 million on September 3, leading to a price drop with Bitcoin trading around the $56,000 mark. This trend mirrors the recent performance of Ethereum-linked ETFs, which also saw consecutive days of outflows, with ETH...
While crypto investors faced significant losses during the wave of bankruptcies in 2022, law firms have profited substantially, earning a collective $751 million in fees from the Chapter 11 cases. As of August 2024, four major law firms—Sullivan & Cromwell, Kirkland & Ellis, White & Case, and Cleary Gottlieb—dominated the earnings, taking home $484 million,...
Representative Mike Collins, who serves Georgia’s 10th Congressional District in the U.S. House of Representatives, has disclosed investments in three altcoins during his time in office. According to financial disclosure reports filed between July and August 2024, Collins revealed purchasing up to $15,000 in Velodrome (VELO), up to $15,000 in The Graph (GRT), and up...
Tether, the issuer behind the world’s largest stablecoin, USDT, has decided against launching its own blockchain, citing market saturation and strategic concerns. Paolo Ardoino, Tether’s CEO, shared in an interview with Bloomberg News that the company’s decision stems from an analysis of the current blockchain landscape, where numerous platforms already offer similar functionalities. Ardoino explained...
Tether has minted an additional 1 billion USDT tokens on the Tron network, raising the total number of USDT tokens created in the past year to 33 billion. According to blockchain data, the minting occurred on August 20, with the tokens sent to Tether’s treasury wallet. This recent activity is part of a broader trend,...
Liquidators of the defunct cryptocurrency hedge fund Three Arrows Capital (3AC) are seeking $1.3 billion in damages from Terraform Labs, alleging that misleading information led to significant losses following the collapse of the Terra ecosystem in May 2022. The claim was filed in a Delaware federal court on August 9, according to Law360. The 3AC...
