Day: June 5, 2023

Crypto lobbyists still fighting to axe ‘unlawful’ Tornado Cash sanctions

The Blockchain Association and the DeFi Education Fund have become the latest industry advocates to file their support of Coin Center’s lawsuit against the United States Treasury over its “unlawful” sanctions aga Tornado Cash. On June 2, the two cryptocurrency industry advocacy groups filed a joint amicus brief in support of Coin Center, arguing that the U.S. sanctions against the crypto mixer Tornado Cash should be dropped. 1/ Today, my colleagues and I at @BlockchainAssn and our partners at @fund_defi filed an amicus brief in support of @coincenter‘s lawsuit against…

Google searches for ‘crypto’ fall to 2020 levels as BTC sentiment neutral

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A two-month-long lull in cryptocurrency optimism has seen online search interest for “crypto” and other common cryptocurrency terms stumble down to late 2020 levels. According to data from Google Trends, the term “crypto” currently has a score of 17, which is well off its reference point of 100 in May 2021. Bitcoin (BTC) and Ethereum have followed a similar downward trajectory. However, search interest for these terms has been in a relatively consistent decline since May 2022, about a month after much of the Terra Luna ecosystem collapsed. A small spike in…

Jack Dorsey tips pro-crypto candidate Robert Kennedy to win presidency

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Twitter founder and current CEO of fintech firm Block Inc., Jack Dorsey has thrown his weight behind pro-crypto Democrat presidential candidate Robert F. Kennedy Jr.  “He can and will,” wrote Dorsey, sharing a YouTube clip from Fox News, featuring Kennedy explaining how he plans to beat popular Republican presidential candidates Ron De Santis and Donald Trump. He can and will https://t.co/zrKLc2BKhz — jack (@jack) June 4, 2023 When a user asked if he was “endorsing or just predicting?” Kennedy, Dorsey replied with “both.” Robert Kennedy is the nephew of the…

Pro-XRP lawyer tips outright SEC victory at ‘less than 3%’

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Pro-XRP lawyer John Deaton has tipped less than a 3% chance for the United States Securities and Exchange Commission to score an outright win against Ripple, as an end to the long-running lawsuit draws closer. The CryptoLaw founder has been a vocal advocate for Ripple against the SEC, which filed a lawsuit against the company in December 2020, alleging that the sale of its XRP (XRP) token represented an unregistered securities offering. In a June 3 episode of The Good Morning Crypto podcast, Deaton said he tipped a 25% chance…

Metropolitan Museum of Art to return $550K in donations from FTX

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The Metropolitan Museum of Art (Met) is set to return $550,000 in donations it received from crypto exchange FTX prior to its collapse in November. The New York-based museum confirmed its intention to repay the funds to FTX debtors in a filing to the United States Bankruptcy Court in Delaware on June 2 — the same court where FTX commenced its bankruptcy proceedings. Filing from the Metropolitan Museum of Art. Source: CourtListener The Met said the agreement came on the back of “good faith, arm’s length negotiations” with FTX’s debtors:…

Why Did Bitcoin’s BTC Price Hold Above $27K Over the Weekend? Two Analysts Expect Continued Resilience

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Connors writes that despite 2023’s focus on Bitcoin’s increased dominance and surging fees amid a challenging U.S regulatory environment, Ethereum’s post-merge performance, including an unexpected non-impact of staking ‘unlock,’ increased staking demand, and realized deflationary promise with over 250k ETH ‘burned,’ is garnering market attention. Original

FTX lawsuits see crypto firms, influencers dial back endorsement deals

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Crypto influencers are taking an extra cautious approach to endorsement deals since the collapse of crypto exchange FTX last year, which has seen several celebrities hit with a lawsuit for their alleged role in its promotion.  In March, a $1 billion class-action lawsuit was filed alleging that eight influencers promoted “FTX crypto fraud without disclosing compensation.” Influencers told Cointelegraph that it has served as a wake-up call — those that endorse crypto firms need to understand their followers can take legal action against them in the future should that company…