Tag Archives: United States

Though the Justice Department declined to comment for the article, Bloomberg was able to report last week that the DOJ is investigating U.S. banks and the backers of popular stablecoin USDT. There is some ongoing speculation about how this might affect bitcoin’s price. What’s Supposedly Going on With Tether and the DOJ? The Justice Department is reportedly seeking to determine the extent of U.S. banks’ knowledge of Tether Limited’s business and the prolific use of its...

After weeks of prolonged consolidation and choppy sideways action in a very squeezed and narrow range, Bitcoin finally broke out. Fortunately, it was to the upside. Over the past week, BTC is up by a considerable 20%. At the time of this writing, it’s trading at around $39K, having pulled back slightly from the psychological and technical resistance at the coveted $40K level. It’s also worth noting that we saw an increased trading volume over the past week, and even though...

In an effort to drive crypto adoption in the United States, Dash, an open source cryptocurrency forked from the Bitcoin protocol, has recently launched a retail savings app dubbed DashDirect. Dash Launches DashDirect Savings App In its official announcement today, Dash revealed that the new app will allow DASH holders to spend their coins at thousands of retail stores in the U.S. Users of the app can pay with DASH for exclusive discounts on their everyday purchases at...

Tether executives are reportedly facing a probe from the US Department of Justice (DOJ), as prosecutors are looking into the company’s past activities with its banking partners. According to Bloomberg on Monday (July 26, 2021), the information came from three anonymous sources familiar with the matter. The DOJ is investigating whether banks were aware of the crypto-based transactions carried out by Tether. USDT is the largest stablecoin by market capitalization. The total...

Amazon seems determined to maintain its reputation as an innovative company and is looking to experiment with cryptocurrencies through a digital currency payment and blockchain unit. According to an announcement posted on Thursday, Amazon is looking for a blockchain specialist to lead its Digital Currency and Blockchain strategy. The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy...

Despite its recently rocky relationship with global regulators, leading cryptocurrency exchange Binance has revealed that its U.S.-based division, Binance US, is considering going public. Binance US Considers IPO Changpeng Zhao (CZ), founder and CEO of Binance, made this known at the ReDeFiNE Tomorrow 2021 blockchain virtual conference. Speaking on the future plans and the regulatory issues that his exchange has been facing, CZ hinted that Binance US is looking to go public...

Although the US Securities and Exchange Commission has failed to approve even a single BTC ETF application, the Grayscale CEO believes it’s a matter of “when, not a matter of if.” In a recent interview, Michael Sonnenshein also outlined that the current price correction has allowed long-term investors to accumulate more portions. BTC ETF: A Matter of When not if The topic of Bitcoin ETF has surged in popularity lately as Brazil and Canada already have multiple such products...

The Chairman of the Federal Reserve of the United States, Jerome Powell, said today that the country is working on a publisher’s report on digital currencies. The Fed Chair said that the incoming report would focus on digital payments “broadly.” Per his words, this also includes stablecoins, crypto-assets, and central bank digital currencies (CBDCs). We’re going to address digital payments broadly. It means stablecoins, it means crypto-assets, it means a CBDC. That whole...

Jihan Wu, the founder and former CEO of the crypto mining company Bitmain, believes regulations are necessary for the cryptocurrency industry. In fact, they could be beneficial for the space as it would isolate it from bad actors and fraudulent activities. Wu: Crypto Regulations Are Healthy The topic of implementing a legislative framework around the crypto market has become wildly discussed in the past year or so as prices blossomed to new highs. Global watchdogs have...

The American hedge fund manager Kyle Bass sounded a note of caution that the communist regime in China plans to use its new state-controlled digital yuan as an instrument to disperse its totalitarianism across the globe. He opined that it would have a devastating impact on the US, and the latter should ban it. The Chinese CBDC Will Have a “Mind of its Own” In a recent interview, the billionaire Kyle Bass argued that the Chinese digital yuan is a financial tool, which the...