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Policy
Former FTX CTO Gary Wang Requests Leniency in Sentencing
Gary Wang, the former Chief Technology Officer at FTX and once a member of Sam Bankman-Fried's inner circle, has asked the court to consider a sentence with no jail time for his involvement in the cryptocurrency exchange's collapse in 2022. Wang will be the fourth FTX employee to be sentenced, having pleaded guilty to four counts of fraud and conspiracy in December 2022. Although the charges carr…
Nov. 7, 2024, 3:16 p.m.
Policy
UK Peers Voice Support for Proposed Digital Assets Legislation
On Wednesday, members of the UK Parliament's upper house expressed support for the country's proposed digital assets property bill during its second reading. The Lords Grand committee generally agreed that the bill would provide greater clarity on the legal treatment of cryptocurrency and represent a significant step forward for the UK, which has been actively promoting the use of crypto. Introdu…
Nov. 7, 2024, 3:09 p.m.
Policy
SEC Moves to Strike Down Key Defenses in Kraken Lawsuit
The United States Securities and Exchange Commission has submitted a request to the Northern District Court of California to dismiss three key defenses presented by Kraken in response to allegations of unlawful conduct. In a motion filed on November 5, the regulatory body rejected Kraken's arguments regarding the lack of clarity surrounding securities laws and their application to virtual assets,…
Nov. 7, 2024, 11:41 a.m.
Policy
Scholz Seeks Early Polls as German Coalition Fails
Chancellor Olaf Scholz has initiated a move for a snap election after his coalition government collapsed, as reported by Bloomberg on Wednesday. Scholz proposed a confidence vote to take place by January, with the goal of rescheduling the federal parliamentary election from September to March in the EU's largest economy. This development occurred after Scholz, of the Social Democratic Party, dism…
Nov. 7, 2024, 11:11 a.m.
Policy
Trump Administration's Support for Bitcoin Act Could Prove Highly Beneficial for Crypto: CoinShares
The potential adoption of the Bitcoin Act under Donald Trump's administration is expected to create a favorable environment for cryptocurrencies, according to a research blog by CoinShares. The proposed legislation, introduced by U.S. Sen. Cynthia Lummis, aims to establish a strategic bitcoin reserve to reduce national debt by acquiring 1 million BTC over five years. If implemented, this could le…
Nov. 7, 2024, 9:48 a.m.
Policy
Trump's Victory Expected to Bring Crypto-Friendly SEC and Senate Banking Committee: Bernstein Report
Following Donald Trump's presidential win and the Republican party's control of the Senate, the U.S. election outcome is expected to bring about clearer regulations for digital assets. Bernstein, a broker, stated in a research report that the Securities and Exchange Commission (SEC) and Senate Banking Committee are likely to become more supportive of cryptocurrencies. The broker predicted a 'new …
Nov. 6, 2024, 1 p.m.
Policy
Trump's Victory to Bring Relief to Crypto Industry: Regulatory Hurdles Expected to Ease
Following a successful campaign that included outreach to the crypto industry, former US President Donald Trump is set to reclaim the White House, having garnered sufficient electoral college votes to defeat Vice President Kamala Harris. This development is anticipated to usher in a more permissive regulatory climate for crypto in the world's largest economy. Although crypto was not a central iss…
Nov. 6, 2024, 8:21 a.m.
Policy
Live Updates: Trump Wins 2024 US Presidential Election
The 2024 US presidential election has seen Donald Trump emerge victorious, with potential implications for the crypto industry. The Republican Party has also retaken the US Senate, raising hopes for comprehensive crypto legislation in the next Congress. Fairshake-backed candidates have won several key races, including Republican Dave McCormick's victory over incumbent Pennsylvania Democrat Bob Ca…
Nov. 5, 2024, 9 p.m.
Policy
Binance and CZ's Lawyers File Motion to Dismiss Revised SEC Complaint
Attorneys for Binance and its former CEO, Changpeng 'CZ' Zhao, have submitted a new motion to dismiss the amended complaint filed by the Securities and Exchange Commission (SEC) in its ongoing lawsuit against them. The motion, filed on Monday, argues that the SEC's revised complaint does not adequately address the distinction between crypto assets and securities, despite a previous court ruling t…
Nov. 5, 2024, 7:35 a.m.
Policy
Andreessen Horowitz Injects $23M into Crypto Super PAC Fairshake Ahead of 2026 Elections
As the 2024 U.S. presidential election draws to a close, crypto-focused companies are shifting their focus towards fundraising for the 2026 midterm elections. Venture capital firm Andreessen Horowitz, also known as a16z, has made an additional donation of $23 million to the pro-crypto super PAC Fairshake, according to a blog post by Chris Dixon, a partner at a16z and the founder of its crypto div…
Nov. 4, 2024, 3:18 p.m.