Category: CryptoX News

Senate majority leader Schumer pushes for crypto regulation by year-end

Senate majority leader Chuck Schumer has set himself the goal of passing comprehensive crypto legislation by the end of 2024. Schumer made the statement at a virtual town hall meeting hosted by Crypto4Harris, a newly-formed initiative to push pro-crypto talking points for Democratic presidential candidate Kamala Harris. During the proceedings, attended by Senators Kirsten Gillibrand and Debbie Stabenow, as well as Colorado Governor Jared Polis and investor Mark Cuban, the New York senator declared his intention to pass a bipartisan crypto bill out of the Senate and into law by…

Pro-Crypto Fairshake PAC Funds Democrats in Key Senate Races

A pro-cryptocurrency political group, Fairshake PAC, has invested millions in supporting Democratic Senate candidates in Michigan and Arizona against former President Donald Trump-endorsed Republicans, causing tension within the GOP. Fairshake PAC, along with its affiliated super PACs, committed about $3 million each to Democrats Ruben Gallego in Arizona and Elisa Slotkin in Michigan. Both candidates […] Source CryptoX Portal

China-Russia International Trade Payments Situation Worsens: Crypto and Barter Rise as Alternatives

Chinese regional banks, which were once used as bridges to process payments from Russia to China, have begun rejecting these payments for fear of secondary sanctions. To facilitate these transactions, cryptocurrency and even barter schemes have emerged as options to continue trading outside the dollar-dominated financial system. Crypto Considered for Settling Trade Transactions Between China […] Source CryptoX Portal

Why are Norwegian and Swiss banks buying MicroStrategy shares?

Central banks in Europe have acquired shares of pro-Bitcoin software firm MicroStrategy, potentially making an indirect bet on the trendy cryptocurrency. The Norwegian and Swiss central banks bought 1.1 million and 466,000 MicroStrategy shares, respectively, according to MSTR shareholder data provided by the Nasdaq’s official website. Why apex banks from two of the largest European economies by gross domestic product invested in MicroStrategy is unknown, but two reasons stand out. Are banks betting on Bitcoin through MSTR? One working theory suggests that sovereign financial institutions are bullish on Bitcoin (BTC).…

Eigenlayer Introduces Permissionless Token Support, Expanding Crypto Economic Security Options

Eigen Labs has announced an upcoming update to the Eigenlayer protocol, introducing Permissionless Token Support. This feature aims to broaden the range of ERC20 tokens that can be utilized as restakable assets, enhancing the crypto economic security of decentralized networks. Permissionless Token Support Is Coming to Eigenlayer Eigen Labs revealed it is set to release […] Source CryptoX Portal

Dydx Introduces Major Chain Upgrade With New Features

Decentralized exchange Dydx has announced a significant upgrade to its chain, introducing new features designed to enhance market liquidity and security. The update, set for release this autumn, marks the largest change to the Dydx Chain since its launch. Dydx Introduces Permissionless Market Listings and Megavault in Upcoming Chain Overhaul According to the announcement, the […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Tether Invests $3 Million in Kem App to Boost USDT Usage in the Middle East

Stablecoin issuer Tether has announced a $3 million strategic investment in the Kem app, a platform for money transfers and financial management. This collaboration aims to introduce USDT on Kem’s platform, promoting widespread adoption in the Middle East and enhancing financial inclusion. The investment is expected to improve economic conditions in countries like Kuwait, Bahrain, […] Source CryptoX Portal

Bitfarms Reveals Leadership Changes Amid Ongoing Conflict With Riot Platforms

Bitfarms Ltd. has announced significant changes to its board of directors and executive team as the company continues to navigate a takeover bid and governance dispute with Riot Platforms Inc. The latest leadership updates include the appointment of CEO Ben Gagnon to the board and the resignation of co-founder and chairman Nicolas Bonta. Bitfarms Restructures […] Source CryptoX Portal

Wisconsin adds 447k shares to BlackRock Bitcoin ETF holdings

The State of Wisconsin Investment Board has increased its holdings in BlackRock’s iShares Bitcoin Trust, as revealed in a recent SEC filing.  A U.S. SEC filing on August 14 shows that the State of Wisconsin now holds almost 2.9 million shares of BlackRock’s iShares Bitcoin (BTC) Trust worth approximately $99.1 million. SWIB’s IBIT holdings rose by 447,651 shares, bringing the total to 2,898,051, meaning the board spent approximately $14 million to acquire more shares. This move marks a shift in SWIB’s investment strategy, as the board has fully exited its…