Navigating the Future of International Technology
United States Congressman Tom Emmer slammed SEC Chair Gary Gensler during a congressional hearing, calling him the most “destructive” and “lawless” Chair in the regulator’s 90-year history. “You’ve made up the term crypto asset security. This term is nowhere to be found in statute, you made it up [and] you never provided any interpretive guidance…
Crypto wallet provider Exodus has announced a sizeable donation to the Stand With Crypto Alliance in an effort to garner more political support for the industry from American voters. On Sept. 24, Exodus, the firm founded in 2015 behind the popular crypto wallet,announcedits $1.3 million donation to the Stand with Crypto political action committee (PAC)…
Bitcoin has been mislabelled as a “risk-on” asset, according to BlackRock’s head of digital assets, Robbie Mitchnick. “What’s happened a little bit in the crypto industry is a bit of an own goal,” said Mitchnick in aninterviewwith Bloomberg on Sept. 24. “Some of the crypto research type publications and daily commentaries have taken the fact…
The Bank of New York Mellon (BNY) is moving toward providing custody services for its exchange-traded fund (ETF) clients’ Bitcoin and Ether after the United States Securities and Exchange Commission (SEC) gave it a pass on observing controversial crypto accounting guidelines. The SEC’s Office of the Chief Accountant conducted a review earlier this year and…
Decentralized finance (DeFi) pioneer Sky, formerly Maker, is reconsidering its plan to offboard Wrapped Bitcoin (WBTC) as collateral for its lending protocol after receiving a new recommendation from one of its key advisers, BA Labs. On Sept. 24, BA Labs recommended pausing the WBTC offboarding plan following a lengthyconversationwith BitGo co-founder Mike Belshe on Sky’s…
Despite the growing popularity of cryptocurrencies and blockchain, the complexity of the technology might be making it hard for average users to understand, adding a barrier to more people entering the space. Accordingto an August survey conducted by Australian crypto exchange Swyftx, 43% of 2,229 respondents said they hadn’t used the tech because they were…
Ethereum co-founder Vitalik Buterin stated on Sept. 12 that he will no longer consider a network a “layer 2” if it has not reached “Stage 1” by the end of the year. “The era of rollups being glorified multisigs is coming to an end,”he stated, adding that “the era of cryptographic trust is upon us.”…
The United States Department of Justice (DOJ) has filed an antitrust suit against payments giant Visa for allegedly operating a debit payments monopoly. A complaintfiledin a federal court in New York on Sept. 24 alleged that Visa uses exclusivity agreements and the threat of penalties against vendors to prevent competition from infringing on the company’s…
Financial services firm MoneyGram has admitted its multiday outage is due to a “cybersecurity issue,” and it is working to restore its services with some success. “MoneyGram recently identified a cybersecurity issue affecting certain of our systems,” the company said in a Sept. 23 Xpost. It comes days after users reported that its services were…
Crypto betting platform Polymarket has received mainstream attention as betting pools on the United States presidential elections have helped the platformsurpass $1 billion in volume. Polymarket allows individuals to anonymously create market betting pools on almost any event, with outcomes determined in a binary “yes” or “no” format. While most users focus on straightforward bets,…