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Standard Chartered’s head of digital asset research, Geoff Kendrick, has predicted a significant rise in bitcoin’s price, potentially surpassing its previous all-time high of $73,798 by this weekend. His optimistic outlook is fueled by the anticipated approval of spot ether exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC), which he believes will … Read more
David Solomon, CEO of Goldman Sachs, expressed doubts about the Federal Reserve cutting interest rates this year due to the resilient economy, bolstered by government spending and investments in AI infrastructure. Despite these factors, Solomon highlighted the impact of rising prices on consumer behavior, referencing recent reports from McDonald’s and Autozone indicating reduced spending. He … Read more
Crypto Freedom Alliance of Texas and Blockchain Association filed a motion on May 17 to vacate the U.S. Securities and Exchange Commission (SEC)’s new Dealer Rule. The plaintiffs’ counsel argues that the SEC’s expanded definition of “dealer” exceeds its statutory authority under the Securities Exchange Act, particularly affecting the digital asset industry. The brief asserts … Read more
Former U.S. President and presidential candidate Donald Trump’s campaign now accepts cryptocurrency donations through Coinbase Commerce. The new fundraising page enables federally permissible donors to contribute using any cryptocurrency supported by Coinbase Commerce. President Trump has championed reduced regulations and innovation in financial technology, contrasting with Democrats like Joe Biden and Senator Elizabeth Warren, who … Read more
New York Attorney General Letitia James has secured a $2 billion settlement with bankrupt cryptocurrency firms Genesis Global Capital, Genesis Asia Pacific, and Genesis Global Holdco. The settlement, which requires bankruptcy court approval, will establish a victims’ fund to compensate over 29,000 New Yorkers who invested more than $1.1 billion through the Gemini Earn program. … Read more
Hong Kong police have arrested three men at a currency exchange shop in Tsim Sha Tsui, a major tourist area, for allegedly presenting “hell money” to a customer, leading the customer to transfer approximately HK$1 million ($128,206) worth of cryptocurrency in exchange for cash. The suspects, aged between 31 and 34, were detained on suspicion … Read more
Professor Massimiliano Sala, a professor of Mathematics at the University of Trento, warns that quantum computing poses significant threats to blockchain security. He highlights that quantum computers could solve problems foundational to digital signatures, compromising user assets on blockchain platforms. To mitigate these risks, Sala emphasizes the need to transition to quantum-resistant cryptographic systems. He … Read more
Crypto startup funding rose to $2.4 billion in the first quarter of 2024, driven by expectations of lower interest rates and the launch of the first U.S. bitcoin spot exchange-traded funds (ETFs), according to Pitchbook data. This funding, spread across 518 deals, marked a 40.3% increase from the previous quarter, even as global venture capital … Read more
Crypto asset manager Grayscale Investments has appointed Peter Mintzberg as CEO, effective August 15, 2024. Mintzberg, currently Global Head of Strategy for Asset and Wealth Management at Goldman Sachs, will also join Grayscale’s Board of Directors. He succeeds Michael Sonnenshein, who steps down to pursue other interests. CFO Edward McGee will serve as interim principal … Read more
The latest Coinbase Weekly Market Commentary, dated May 17, highlights the crucial influence of regulatory developments on U.S. cryptocurrency markets. Coinbase stated: “Macro continues to be a key driver for crypto performance, though we think upcoming major catalysts may be regulatory driven.” Upcoming regulatory events include the Securities and Exchange Commission (SEC)’s decisions on spot … Read more
