The US House on Thursday approved a bill that prohibits the Federal Reserve from issuing a digital dollar, or central bank digital currency (CBDC), without explicit authorization from Congress. This legislation, known as the CBDC Anti-Surveillance State Act (HR 5403), passed with a vote of 216 to 192. Republicans voiced worries that a US CBDC...
A U.S. district court has found crypto influencer Ian Balina guilty of violating U.S. securities laws. According to recent court filings, Judge David Alan Ezra ruled that Balina was guilty promoting and selling SPRK tokens without proper disclosure. the judge ruled that SPRK tokens met the criteria of the Howey Test, making them securities. Unlawful...
Cryptocurrency derivatives trading platform Bitget has appointed Gracy Chen as its new CEO taking over from Sandra Lou, who is moving on to pursue other business goals. Before being promoted to CEO, Chen held the position of managing director of Bitget, where she oversaw its market expansion, business strategy, and corporate development. Under her leadership,...
Kansas-based now-failed Heartland Tri-State Bank’s former head has pled guilty on Thursday for embezzling $47.1 million for a series of “personal crypto purchases.” This led to the bank’s failure in July 2023, at a complete loss of equity for investors, the U.S. Attorney’s Office for the District of Kansas noted. Shan Hanes, 52, who served...
Federal Reserve officials expressed growing concern about inflation during their most recent meeting, with many members hesitant to move forward with interest rate reductions. Since the FOMC decided to keep the short-term borrowing rate in the 5.25%-5.5% range, a 23-year high, it has significant implications for the economy, as well as the Bitcoin price prediction....
Sam Bankman-Fried’s (SBF) FTX Group allegedly paid over $25 million in hush money to seven whistleblowers prior to the doomed crypto exchange collapse in November 2022, a bombshell independent examinator’s Thursday report found. FTX Whistleblowers Agreed To Settlement Deals Prior To Collapse Robert Cleary, the independent examiner tasked with conducting the report, discovered the now-settled...
Investment firm Metaplanet has experienced a remarkable surge in its shares, skyrocketing 158% over the past week and emerging as the highest gainer among all Japanese stocks. The company’s share price currently stands at 93 Japanese yen, experiencing a staggering 127% increase in just two days. The rapid growth even triggered the Tokyo Stock Exchange...
Traditional banks may still dominate the financial industry in terms of assets held, but credit unions are becoming an increasingly popular option for Americans who qualify. Recent data shows that there are roughly 4,600 credit unions in the United States. A September 2023 report from The National Credit Union Administration (NCUA) further notes that nearly...
Bitcoin (BTC) is currently navigating resistance around $70,000. Starting the week bullish, BTC peaked at $71,957, gaining 13% over the past seven days. The rise was driven by inflows into Bitcoin spot ETFs and optimism for Ethereum spot ETF approval by the SEC. BlackRock’s IBIT Leads Bitcoin ETF Inflows and Institutional Demand U.S. bitcoin spot...
The Abu Dhabi Agriculture and Food Safety Authority of UAE issued a new advisory on Thursday prohibiting the use of farms for cryptocurrency mining. Farmers caught engaging in such activities face fines of up to 10,000 UAE dirhams (approximately $2,722). The Abu Dhabi Agriculture and Food Safety Authority advisory explicitly stated that farms cannot be...