Day: February 16, 2023

Berkshire’s Charlie Munger Says ‘Ridiculous’ Anybody Would Buy Crypto — ‘It’s an Absolute Horror’ – Featured Bitcoin News

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Warren Buffett’s right-hand man and the vice chairman of Berkshire Hathaway, Charlie Munger, says people who oppose banning cryptocurrencies are “idiots,” adding that it’s “just ridiculous” anybody would buy crypto. He also likened replacing national currencies to replacing air, stating that “It’s massively stupid.” Berkshire Vice Chair Charlie Munger Says Replacing National Currencies Is Like Replacing Air Berkshire Hathaway Vice Chairman Charlie Munger continued his insults against cryptocurrency and its supporters Wednesday during a live-streamed interview with CNBC at the Daily Journal’s annual shareholders meeting. Referencing his recent opinion piece…

SEC proposes tougher rules as part of its crypto custody crackdown

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A five-member panel of the United States Securities Exchange Commission (SEC) has voted 4-1 in favor of a proposal that may make it more difficult for cryptocurrency firms to serve as digital asset custodians in the future. The proposal, which is yet to be officially approved by the SEC, recommends amendments to the “2009 Custody Rule” will apply to custodians of “all assets” including cryptocurrencies, according to a Feb. 15 statement from SEC Chairman Gary Gensler. Gensler stated that currently, some crypto trading platforms that are offering custody services are not actual…

Bitcoin BTC Price Rockets Past $24.7K to Hit 6-Month High

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Ether enjoyed an almost equally upbeat day, blasting past $1,700 before settling slightly below this threshold. The second largest crypto in market value was recently up more than 9%. Other major turned bright green over the course of the day with YGG, the token of play-to-earn gaming guild Yield Guild Games, and NEAR, the native crypto of smart contracts platform Near Protocol, each recently rising well over 11%. The CoinDesk Market Index (CMI) a measure of the wider digital asset market’s performance, was recently up 10%. Original

Binance Bracing Itself for Fines From US Regulators to Settle ‘Past Conduct’: WSJ

Though regulatory scrutiny on Binance has intensified following its rival FTX’s collapse last November, Binance has been under investigation by the U.S. Attorney’s Office for the Western District of Washington since at least 2018, according to Reuters. The Department of Justice (DOJ) has reportedly sent at least two trading firms subpoenas in recent months, requesting records of their past dealings with Binance US. Source

Former Warner Music CEO Joins Web3 Company OneOf’s Board

“OneOf and many other companies are doing a lot more with [Web3] technology than just PFPs [profile pictures] this year. The work that we are doing with major corporations in banking, travel and entertainment are traditionally noncrypto companies,” Dai told CryptoX. “Having Steve in helping us and guiding us as well as teaching us how to navigate and have those conversations.” Source BoardCEOCompanyJoinsMusicOneOfsWarnerWeb3 CryptoX Portal

SBF won’t be able to play League of Legends under proposed bail changes

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Sam Bankman-Fried, the former CEO of crypto exchange FTX may no longer be able to play League of Legends and other video games if newly proposed changes to his bail conditions from United States prosecutors are approved. In a Feb. 15 letter to United States District Judge Lewis Kaplan, U.S. Attorney Damian Williams asked the courts to further expand restrictions surrounding Bankman-Fried’s electronic device usage. They pointed to Bankman Fried’s recent device usage as cause for concern, and agreed with the court’s intuition that it was “shortsighted” by focusing only…

SEC Chairman Proposes Amending Federal Custody Rules to Cover ‘All Crypto Assets’ – Regulation Bitcoin News

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U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has proposed amending federal custody rules to cover “all crypto assets.” The SEC chief said: “Though some crypto trading and lending platforms may claim to custody investors’ crypto, that does not mean they are qualified custodians.” Gary Gensler Proposes Including Crypto in Expanded Custody Rules The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, announced Wednesday that he has proposed changes to federal regulations “to expand and enhance the role of qualified custodians.” All asset classes, including crypto,…

Celsius chooses NovaWulf’s bid to exit from bankruptcy

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Bankrupt crypto lender Celsius Network has chosen NovaWulf Digital Management as the sponsor for its proposed Chapter 11 restructuring plan which will see the investment advisory firm take over the operations of a new company, and most customers estimated to recover up to 70% of their funds. Celsius presented the plan on Feb. 15 in a filing to the United States Bankruptcy Court for the Southern District of New York. The proposed plan has the support of the Celsius Official Committee of Unsecured Creditors (UCC) — a body representing the…