Month: March 2023

CFTC’s tech committee gathered in DC to talk DeFi, here’s what was discussed

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The United States commodities regulator has gotten a crash course on decentralized finance (DeFi) today, with crypto executives briefing the regulator on key issues affecting the space, including exploits, decentralization and digital identities. As part of a scheduled first meeting of the CFTC’s Technology Advisory Committee (TAC) in Washington D.C., members from the crypto space gave presentations to the regular with the aim of covering key issues currently impacting DeFi. CFTC commissioner Christy Goldsmith Romero opened the meeting with prepared remarks, saying “understanding how DeFi works” is “important” as “policy…

Multichain Wallet Bitkeep Raises $30 Million From Bitget to Strengthen Links Between Defi and Cefi – Bitcoin News

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On Wednesday, the multichain wallet Bitkeep announced it raised $30 million from the crypto derivatives platform Bitget. Bitkeep now has an overall valuation of $300 million, with goals aimed at strengthening the links between decentralized finance (defi) and centralized finance (cefi). Bitget Invests $30 Million in Bitkeep; Wallet Firm Is Now Valued at $300M Crypto derivatives exchange Bitget has announced that it has invested $30 million in the multichain wallet company Bitkeep, making it the startup’s controlling stakeholder. Bitget detailed on Wednesday that the wallet will gain access to the…

US Senator Introduces Bill to Ban Direct-to-Consumer Central Bank Digital Currency – Regulation Bitcoin News

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U.S. Senator Ted Cruz has introduced “legislation to prohibit the Federal Reserve from developing a direct-to-consumer” central bank digital currency (CBDC). The lawmaker warned that it “could be used as a financial surveillance tool by the federal government.” Another senator stressed: “The American people ought to be able to spend their money how they choose without the possibility that every transaction could be tracked by the government.” Senator Ted Cruz’s CBDC Bill U.S. Senator Ted Cruz (R-TX) announced Tuesday that he has reintroduced “legislation to prohibit the Federal Reserve from…

Bitfinex CTO expects El Salvador bitcoin volcano bonds this year

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The CTO of cryptocurrency exchange Bitfinex expects the much-awaited El Salvador bitcoin volcano bonds to be on the market between June and September this year after the country’s congress voted in favor of legislation that will provide the legal framework for the issuance of the bitcoin (BTC) backed bond. Bitcoin volcano bonds set to go on the market Speaking at the Paris Blockchain Week 2023, the chief technology officer of crypto exchange Bitfinex, Paolo Ardoino, hinted that El Salvador’s bitcoin-powered bonds known as volcano bonds will launch between June and…

Anticipation Spurs IOU Markets for Arbitrum’s Native Cryptocurrency Asset – Markets and Prices Bitcoin News

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A week ago, the Ethereum layer two scaling solution Arbitrum announced the launch of its native token called ARB, and since then IOU markets have launched giving some indication of how much the token may be worth. ARB claiming begins March 23 and when people get their coins on exchanges, the token’s value may turn out to be a whole lot different. At present, ARB has been exchanging hands for $5.41 to $7.92 per unit over the past 24 hours. ARB Token Sees IOU Trade Volume but Market Value May…

Tron Founder Justin Sun Sued by U.S. SEC on Securities, Market Manipulation Charges

Sun, who was named Grenada’s ambassador to the World Trade Organization (WTO) last year, tried to artificially inflate TRX’s trading volume through the wash trading scheme, the SEC alleged, by having his own employees “engage in more than 600,000 wash trades of TRX between two crypto asset trading platform accounts he controlled.” According to the court filing, Sun’s Tron Foundation employees conducted the trades, the BitTorrent and Tron foundations controlled the accounts and Rainberry employees transferred funds for the trading. Source ChargesFounderJustinManipulationMarketSECSecuritiesSuedSunTRONU.S CryptoX Portal

‘How did this happen’ — Powell says Fed stumped over the collapse of SVB

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United States Federal Reserve chairman Jerome Powell has conceded that his regulator was blindsided by the sudden collapse of Silicon Valley Bank (SVB), despite it being under their watch. In a press conference held just after the Federal Open Market Committee meeting on March 22, Powell said he immediately knew there was a need for an internal investigation when the bank shut down on March 10, stating: “I realized right away that there was going to be a need for a review. I mean the question we were all asking…

Texas Lawmaker Launches Resolution to Protect Bitcoin Investors, Support BTC Economy – Regulation Bitcoin News

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A legislative proposal has been introduced to support the bitcoin economy in the U.S. state of Texas. “The individuals who own bitcoin should be protected” under the Texas Constitution, the proposal describes. “No citizen of Texas shall ever be deprived of their right to own bitcoin and that all bitcoin owners will be protected as they enjoy all the privileges associated with the cryptocurrency.” Resolution to Support Bitcoin Economy A legislative proposal called House Concurrent Resolution 89 (HCR89), which expresses support for the bitcoin economy in Texas, was introduced in…