Kaplan sentenced Ryan Salame, the former CEO of FTX Digital Markets, to more than seven years in prison earlier this year. Like Ellison, Salame pled guilty to criminal charges, but unlike her, he did not testify or provide the same cooperation. He also faced different charges, but his sentence suggests the extreme upper bound for Ellison, if she does go to prison, will be a few years. Source
We don’t have a stocks tax on our agenda. It was discussed previously and fell from our agenda, Vice President Cevdet Yilmaz told Bloomberg, talking about plans that also affect crypto. Source
“Under Chair Gensler, the SEC has become a rogue agency,” McHenry said. He lamented aggressive SEC crypto enforcement even as the House approved a widely bipartisan bill, the Financial Innovation and Technology for the 21st Century Act (FIT21), that showed that most of Congress disagreed with the agency’s approach to digital assets. Source
The launch of U.S. bitcoin exchange-traded funds on Jan. 11, 2024, has become one of the year’s most significant financial events. These ETFs, including the BlackRock iShares Bitcoin Trust (IBIT), have collectively attracted $17.7 billion in net inflows since their debut, according to Farside data. IBIT, to some, has emerged as a competitor to MicroStrategy (MSTR), a company renowned for its substantial bitcoin holdings and dual business model. Led by Executive Chairman Michael Saylor, MicroStrategy currently holds 252,220 bitcoins, valued at approximately $16 billion. Year-to-date, MicroStrategy’s stock has risen 119%…
Each vault runs the strategy for 27 days, beginning every Wednesday at 1:00 UTC, simplifying the investment process. For issuers, however, that means their USDC is locked into the vault for 27 days, keeping them from accessing their funds. The liquidity barrier limits users’ ability to react to changing market conditions and meet financial needs. Source
The Harris campaign has since released its platform, which has emphasis on entrepreneurs, small businesses, and American innovators. While crypto and other technologies are not mentioned by name, the rhetoric and tone used in the platform differs significantly from that of the Biden administration. Since the DNC, both of us have continued to meet with policymakers and candidates from across the political spectrum, and what is remarkable is how similar most conversations are, whether with Democrats or Republicans down the ballot. Source
Several “Satoshi era” bitcoin have been active in the past few years. In July 2023, a wallet dormant for 11 years transferred $30 million worth of the asset to other wallets, while in August, another wallet transferred 1,005 BTC to a new address. Then, in December last year, over 1,000 BTC were sent to crypto exchanges – where they were likely sold off – marking one of the largest amounts from the Satoshi era moved to exchanges. Source
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…
In a published note, Lynn Song, Chief Economist for Greater China at ING, wrote that today’s policy package is expected to weaken the yuan slightly, with the USD-CNY exchange rate rising in response to the PBoC’s easing measures. However, medium-term factors like interest rate spreads suggest a gradual appreciation trend for the CNY. Source
“Their understanding of what the industry and crypto investors alike need from a Harris administration, should one come to pass, is growing in sophistication and depth,” Grewal said, though the actual policy choices may not be seen for a while. “Sometimes things just take a little bit longer than any of us might like,” he said. Source