Month: September 2023

Digital assets will be a ‘sleeper issue’ for 2024 elections

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Tom Emmer, majority whip of the United States House of Representatives and crypto proponent, says that digital assets have become a “sleeper issue” in U.S. politics, both at the state and federal levels. Speaking to Cointelegraph at the Permissionless II conference in Austin, Texas on Sept. 11, Emmer said certain candidates running for office in 2024 may underestimate the impact of issues surrounding crypto and blockchain. He pointed to financial privacy concerns, specifically mentioning government oversight of central bank digital currencies, or CBDCs. “It’s politically potent regardless of your political…

SEC accuses Binance of noncooperation, court unseals case documents: Law Decoded

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The legal struggle between crypto exchange Binance and the United States Securities Exchange Commission (SEC) continues. The SEC has accused Binance.US of noncooperation in the ongoing investigation. The agency points out that Binance.US’s holding company, BAM, has produced only 220 documents during the discovery process. Many of those materials “consist of unintelligible screenshots and documents without dates or signatures,” the SEC said. The regulator added that BAM has refused to produce essential witnesses for deposition, instead agreeing only to four depositions of witnesses it has unilaterally deemed appropriate.  Meanwhile, Magistrate…

Bitcoin Open Interest Rises By $1.8 Billion As BTC Breaks $27,000

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Data shows the Bitcoin Open Interest has shot up by $1.8 billion as the cryptocurrency’s price has broken the $27,000 level. Bitcoin Open Interest Has Exploded During The Past Day The “Open Interest” indicator keeps track of the total amount of Bitcoin futures contracts currently open on all derivative exchange platforms. When the value of this metric rises, it means that the investors are opening up new positions on the market right now. Generally, the cryptocurrency becomes more likely to display volatility when this happens, as new contracts usually imply…

Citi Token Services will provide payments, liquidity to institutional customers

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Citigroup has introduced Citi Token Services, a private, permissioned blockchain that offers cross-border payments, liquidity and automated trade finance solutions to institutional clients. The new services “will integrate tokenized deposits and smart contracts into Citi’s global network,” according to a statement.   Citi Treasury and Trade Solutions (TTS), which has banking licenses in over 90 countries, has completed two pilots of the service. It worked with Danish shipping company Maersk and an unnamed canal authority on a program that made instant payments to service providers via smart contracts, reducing transaction…

Hearing in Washington DC over BAM motion to compel starts now

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Binance CEO Changpeng Zhao played it cool in the hours leading up to the hearing in the District Court for the District of Columbia on Sept. 18, posting a picture of branded merchandise with a cheery message about the company’s interns.  He is likely to pay close attention to the court proceedings, however, as the disagreement between the United States Securities and Exchange Commission (SEC) and Binance.US is at a high pitch after a week of adversarial filings. Magistrate Judge Zia Faruqui is holding a hearing on the SEC’s motion…

Blockchain Capital secures $580m funding for defi and crypto gaming ventures

Blockchain Capital secures a record $580 million in new funding to invest in emerging and later-stage crypto initiatives, focusing on decentralized finance, gaming, and blockchain infrastructure. The freshly obtained investment will be channeled towards budding and innovative startups specializing in diverse crypto sectors. This includes the trending decentralized finance (DeFi), crypto gaming, and the foundational infrastructure of these domains. We’re thrilled to share the closing of 2 new funds – our 6th early stage fund and 1st opportunity fund. Together, they total $580 million and serve to reinforce our commitment…

What I Learned Managing Arca’s Crypto Fund for Five years

But what are the best attributes and qualifications for a research analyst in crypto? What makes the best Trade Ops person? Who is best suited to handle investor relations? These are still not easy questions to answer in crypto. During the first few years of our fund, we took what we could get – which is to say, whoever wanted a job. The pay sucked, the hours were long, and the future was very uncertain. Anyone who wanted a job in this industry in 2018 shared a true passion for…

Bitbuy enters strategic partnership with Canadian crypto ATM firm Localcoin

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Canadian fintech corporation WonderFi, a firm backed by billionaire Kevin O’Leary, recently announced a strategic partnership between Bitbuy and cryptocurrency ATM provider Localcoin ATM. The partnership, announced on Sept. 18, will shore up Localcoin’s crypto ATM offerings throughout Canada with Bitbuy’s exchange platform and the “deep liquidity” that comes with it, according to a press release from WonderFi. PRESS RELEASE: Bitbuy Partners with Localcoin, Canada’s Largest Bitcoin ATM Provider Bitbuy’s digital asset offering now powers nearly 50% of Canada’s Bitcoin ATMs MORE DETAILS: https://t.co/rqBDoHev1O — WonderFi (@WonderFi) September 18, 2023…