hedy2637

@hedy2637

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Accelerating stablecoin adoption is particularly bullish for decentralized finance (DeFi), as “stablecoins are the on-ramp to decentralized finance,” Citi said.

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Federal Bureau of Investigation officials arrested Council in Alabama on Oct. 17. He has pleaded not guilty to one count of conspiracy to commit aggravated identity theft and access device fraud.

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In his order, Nicholas said he was “satisfied that Bit Trade’s contraventions were serious and motivated by a desire to maximize revenue.”

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“This is a significant outcome,” Longo said. “It is ASIC’s first penalty against an entity for failing to have a TMD and a reminder for digital assets firms to consider their regulatory compliance obligations.”

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Longo added that over 1,100 Australians used the product, were charged over $7 million in fees and interest, and lost over $5 million, “including one investor who lost almost US$4 million.”

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Bitcoin-stacking firms BlackRock and MARA Holdings bought a combined 9,173 Bitcoin while an unknown whale scooped up 600 Bitcoin as the cryptocurrency’s price fell to $92,957 on Dec. 5.

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“The Bitcoin reserve is good, but it does not solve the problem,” Roy said, “You still have to actually do the budgetary reforms to get us out of this $2 trillion a year of federal deficits.”

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Avik Roy, president of the think tank the Foundation for Research on Equal Opportunity, said at a crypto summit last month that it is “an overselling of what Bitcoin could do.”

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Lummis’s Bitcoin reserve push is centered around addressing the country’s $36 trillion national debt.

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Summers served as treasury secretary between 1999 and 2001 under the Clinton administration and, in 2016, had a stint as an adviser to the crypto conglomerate Digital Currency Group (DCG).

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“I think we need to support financial innovation wherever it may go, and there are probably respects in which crypto has been over-regulated by overzealous regulators,” he said.

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Some Trump-aligned Republicans, most prominently Wyoming Senator Cynthia Lummis, want to push through a bill that would have the government buy 1 million BTC — about 5% of its total supply — and hold it for at least 20 years.

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“I understand why we need a national oil reserve. I understand why a century ago, we accumulated gold in Fort Knox,” he said. “Of all the prices to support, why would the government choose to support, by accumulating a sterile inventory, a bunch of Bitcoin?”

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“Some of what is being said, this idea that we should have some kind of national Bitcoin reserve, is crazy,” Summers told Bloomberg TV on Dec. 6.

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Former United States treasury secretary Lawrence Summers dismissed President-elect Donald Trump’s plan for a strategic Bitcoin reserve as “crazy” and a means to pander to his crypto campaign donors.

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A warm Farcaster welcome to @jonesruby5339!

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A warm Farcaster welcome to @c37513757!

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A warm Farcaster welcome to @hedy18933!

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A warm Farcaster welcome to @smith6572emily!

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A warm Farcaster welcome to @b43458640!

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