Tag Archives: United States

The shares of First Republic Bank have declined to a record low after the lender announced that depositors withdrew over $100 billion in the first quarter. It has been under massive pressure since a series of bank failures in the United States sparked fears of a wider crisis. The private-sector initiatives are being led by the First Republic Bank’s advisers but are yet to reach an agreement. US officials have now stepped in to coordinate urgent talks to rescue the commercial...

The American politician serving as the junior United States Senator for Texas – Ted Cruz – thinks bitcoin could be a lifeboat amid the inflationary environment supposedly created by Washington’s irrational decisions.  He revealed holding slightly more than 2 BTC and having a standing order to buy more of the primary cryptocurrency every Monday morning, regardless of its price.  BTC: A Hedge Against Inflation and So Much More In a recent appearance at The Bitcoin Policy...

Jeremy Allaire – CEO of Circle Internet Financial Ltd. – argued that US investors could soon relocate due to the lack of proper regulations and the growing banking crisis. The collapse of Silicon Valley Bank (SVB) in March caused severe issues for the stablecoin issuer. USDC de-pegged from its $1 fixed valuation to as low as $0.87 after Circle revealed a massive $3.3 billion exposure to the financial institution. However, it coped with the problem, assuring that investors...

The United States Department of Treasury sanctioned three individuals who helped the notorious hackers Lazarus Group to process the conversion of stolen cryptocurrency to fiat, allegedly for the funding of the Democratic People’s Republic of Korea’s (DPRK) illicit weapons of mass destruction (WMD) and ballistic missile programs. An earlier report by Chainalysis claimed that Lazarus Group was responsible for crypto theft worth about $1.7 billion in 2022. 3 China-based OTC...

Host of the popular podcast “All In” and seasoned venture capitalist Chamath Palihapitiya has been a long-time believer in fledgling companies and causes. During his career, Palihapitiya has invested in successful companies such as Slack and Yammer. For the past few years, Palihapitiya has championed Bitcoin and its march to 200k to the world of venture capitalists. He has also been a senior executive at Facebook in its early days, a far cry from his teenage years spent...

Last September, the SEC took the Hydrogen Technology Corporation and its CEO, Michael Ross Kane, to court for the alleged price manipulation of the firm’s proprietary token, HYDRO. Proven Manipulation Of Market Value According to the charges, Kane used services offered by Moonwalkers Trading Ltd, a South African company, without a clear legitimate business purpose in order to conduct bogus trades using the HYDRO token. We announced charges against The Hydrogen Technology...

Damian Williams, the US attorney for the Southern District of New York, has requested a seven-year sentence for Reginald Fowler, the alleged executive in a crypto shadow banking business that operated in 2018. According to an April 18 filing, Fowler’s court case has dragged on for five years, and he is scheduled to be sentenced on April 20. US Attorney Seeks Seven-Year Sentence for Defendant In a letter of request written to US District Judge Andrew Carter, Williams explained...

The New York State Department of Financial Services (NYDFS) said it will start billing cryptocurrency entities registered in the state in exchange for annual examination and supervision.  Superintendent Adrienne Harris explained the fees will be different for each organization, depending on their size and complexity. Bringing Crypto Closer to Banks The NYDFS stated the new rule will apply to those entities which have already obtained the so-called Bitlicense. The financial...

On April 21, the Texas House of Representatives approved a bill requiring cryptocurrency exchanges to maintain sufficient reserves to fulfill their clients’ payment obligations. According to the announcement by the Texas House of Representatives, the “HB 166” bill filed by State Rep. Giovanni Capriglione was passed by a majority of 150 members, aiming to “rebuild trust in the market by requiring Proof of Reserves for digital asset exchanges.” Texas Aims to Protect Citizens...

The US-based cryptocurrency exchange – Gemini – announced plans to establish a new engineering hub in Gurgaon, India. This will be the company’s second Asian location, as previously it opened an office in Singapore. The expansion outside the US coincides with the regulatory uncertainty in the States. The CEO of Coinbase – Brian Armstrong – recently opined that many American crypto firms could relocate if the watchdogs continue their scrutiny over the industry. Setting Eyes on...