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The CEO recalled massive staking-related fines by the SEC, including the Kraken’s $30 million penalty over its staking offering, which pushed many exchanges to halt staking services in the country.
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“Back in 2023, SEC Chair Gary Gensler said that most staking providers failed to provide customers with proper disclosures, such as how a company is protecting a user’s staked assets,” McLoughlin said.
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According to Uphold CEO Simon McLoughlin, the company rescinded staking in the US amid the lack of regulatory clarity and an arbitrary “regulation by enforcement” regime maintained by Gary Gensler-headed SEC.
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The Rogers and Weninger-sponsored bill focuses on investment authority for public funds to invest in crypto assets, while the Finchem-sponsored bill establishes a specialized fund for seized digital assets and appropriated funds.
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The MEXC cryptocurrency exchange has invested in synthetic dollar protocol Ethena in a broader push to promote stablecoin development and adoption.
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Another ETF holding only Bitcoin, Bitwise Bitcoin ETF (BITB), pulled nearly $240 million on its first trading day, the data showed.
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https://warpcast.com/el88thoms/0x9ba1783a
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The crypto industry must undergo a philosophical shift to achieve genuine mass adoption. Technical complexity should be a back-end consideration, not a front-end feature. Every project should ask, “Could my grandfather use this?” If the answer is no, it’s not because Grandpa lacks technical sophistication — it’s because we’ve failed in our design.
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Meta’s commitment to free speech apparently doesn’t extend to backlinks to decentralized social media networks. According to a 404 Media report, Facebook has been actively removing links to Instagram competitor Pixelfed and Mastodon, an open-source social networking service.
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The newsletter also explores Tether’s jarring lawsuit against Swan Bitcoin, the emerging role of institutional crypto and a looming TikTok ban in the United States.
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This week’s Crypto Biz explores Meta’s contradictory approach to free speech and whether Zuckerberg is sincere about getting back to his roots — or whether he’s playing a game of political chess with the incoming Trump administration.
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A spokesperson at ESMA then said that the regulator was working with market participants and other stakeholders to address stablecoin-related issues presented in MiCA.
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https://warpcast.com/jolinejones90/0x15be18f8
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She compared gold and BTC, stating that when gold price increases, production goes up, as does the rate of increase in the supply of gold — a factor that “can not happen with Bitcoin.”
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The appointment of the former CFTC commissioner could shift the scales in a long-debated jurisdictional lack of clarity over cryptocurrencies between the CFTC and the US Securities and Exchange Commission.
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Currently the head of policy at Andreessen Horowitz’s crypto division, a16z, Quintenz’s background includes overseeing key policy initiatives at the CFTC between 2017 and 2021.
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“People use Bitcoin as a speculative asset. It’s just like gold, only it’s virtual, it’s digital,” he said at the DealBook Summit in New York on Dec. 4.
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As Cointelegraph reported, Bitcoin found intense buying pressure on the day Jerome Powell, chair of the United States Federal Reserve, reiterated that he considers it a “competitor” to gold.
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“This comes just 5 minutes after Bitcoin crossed the historic $100,000 level,” The Kobeissi Letter said in an X post.
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In hitting six figures, BTC/USD now reflects the seventh-most valuable asset in the world by market cap, higher than silver and top global firms, including Meta and Saudi Aramco.
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