Scott, the top Republican on the Senate Banking Committee, will release his priorities for a bipartisan regulatory framework for cryptocurrency on Thursday, according to Politico.
CoinDesk
Why Binance Opened 90% Of Accounts Closed For An U.S. Investigation
Following the collapse of the crypto exchange FTX, most global regulators intensified their watch on crypto-related activities and platforms like Binance. As a result, some have opened investigations on most of the crypto industry’s prominent crypto exchanges and trading platforms.
Crypto exchange Bitzlato has been under investigation by the United States Department of Justice (DoJ). The watchdog has unveiled some incriminating facts regarding money laundering activities on the platform. Subsequently, the US DoJ charged the crypto exchange’s founder and majority owner for unlicensed money transfers.
According to a recent report from FinCEN, the leading crypto exchange Binance is noted as the most significant Bitcoin counterparty for Bitzlato.
First Bitcoin Mining Powered By Nuclear Energy To Open In The U.S. In Q1 This Year
Positioning bitcoin mining with carbon-free sources, like nuclear energy, offers enormous benefits to the cryptocurrency industry as digital assets grow in popularity, acceptability, and engagement with the broader economy.
World Nuclear News reports that Cumulus Data, a subsidiary of independent power producer Talen Energy and a maker of zero-carbon data centers, has finished installation on the first building of its nuclear-powered Susquehanna data center site in Pennsylvania.
Cumulus Data says that the 1,200-acre complex will be the first of its type in the United States when it begins hosting bitcoin mining and cloud computing services in the first quarter of 2023.
U.S. Department Of Justice Shuts Down Crypto Exchange Bitzlato, CEO Arrested
The DOJ has charged the exchange with facilitating more than $ 700 million in illicit transactions tied to Russia, money laundering and criminal activity.
The U.S. Department of Justice (DOJ) has announced the closure of the Bitzlato cryptocurrency exchange, along with the FBI’s arrest of the exchange’s owner, Anatoly Legkodymov. In a live stream hosted on January 18, representatives from the law enforcement bureau revealed that the Hong Kong-based exchange was allegedly a part of a large illicit cryptocurrency network designed to circumvent sanctions, launder money and conceal crimes.
FTX: U.S. Authorities Seize Nearly $700 Million Of Sam Bankman-Fried’s Assets
The FTX brouhaha continues and this time, unsurprisingly, millions of dollars in cash and assets belonging to the crypto exchange’s former big boss has been confiscated by United States authorities.
Federal authorities have seized $ 150 million in assets related to FTX co-founder and former CEO Sam Bankman-Fried, a large chunk of which comes in the form of Robinhood stock, a court filing revealed Friday.
Stocks, cash, and other assets totaling almost $ 700 million have now been seized by U.S. officials in connection with the ongoing probe.
Crypto Conglomerate DCG Under Investigation By U.S. Authorities
Digital Currency Group, better known as DCG, is currently under investigation by U.S. authorities.
According to a report by Bloomberg, U.S. prosecutors in New York – specifically, the city of Brooklyn – are assessing the internal transfers between the multibillion-dollar crypto conglomerate and its crypto lending arm, Genesis Global Capital.
The crypto lending company has been in the spotlight for a long time following its heavy losses last year.
Based on anonymous sources that are close to the investigation, the federal prosecutors are already conducting interviews with certain personnel and requesting office documents.
U.S. Investigators Subpoena Hedge Funds in Binance Money-Laundering Probe: Report
Authorities have not yet brought charges against the company, which has faced intense scrutiny following competitor FTX’s collapse in November.
CoinDesk
U.S. Adds Better Than Expected 223K Jobs in December, Unemployment Rate Falls to 3.5%
The jobs market remained strong/began to show signs of weakening to close out 2022.
CoinDesk
U.S. Bitcoin Miner Increased Its Annual BTC Production By 200% In 2022
Cleanspark’s December 2022 mining update examines the company’s year at large as well as the operations of the previous month.
Cleanspark, a publicly traded bitcoin miner based in Las Vegas, Nevada, has announced their December 2022 bitcoin mining update, in addition to comments from the CEO reflecting on 2022.
“Among our many accomplishments this year, I’m most proud of increasing our annual bitcoin production by over 200% as we expanded our fleet and the number of mining campuses we own and operate throughout Georgia,” said Zach Bradford, CEO, in the release. “Even in this down market, we are committed to the promise of bitcoin and are proud to be part of the global network that keeps it secure for millions of users across the world.”
For The U.S., Bitcoin Is A National Security Opportunity, Not A Threat
Recognizing the importance of digital currency in its recent National Security Strategy, the White House should consider embracing a bitcoin standard.
This is an opinion editorial by Matt Smith, an operations officer for the United States Air Force and an assistant professor of aerospace studies at the University of Nebraska-Lincoln.
As the country’s most adversarial competitors actively pursue ways to de-dollarize the world while simultaneously publicly announcing, “the economy of imaginary wealth is being inevitably replaced by the economy of real valuables and hard assets,” the race for bitcoin accumulation, the hardest and scarcest asset in the world, is not too far off in the not so distant future.
Inaccurate U.S. Senate Testimony Misleads Lawmakers, Public About Bitcoin
In testimony before the U.S. Senate Banking Committee, actor Ben McKenzie and professor Hillary Allen offered inaccuracies about Bitcoin.
This is an opinion editorial by Level39, a researcher focused on Bitcoin, technology, history, ethics and energy.
On December 14, the U.S. Senate Committee on Banking, Housing & Urban Affairs received inaccurate testimony regarding Bitcoin from actor Ben McKenzie and Professor Hillary J. Allen. The hearing, entitled “Crypto Crash: Why the FTX Bubble Burst and Harm to Consumers,” had all the markings of political theater and provided a stage to misinform senators and the public. It coincided with Elizabeth Warren’s new financial surveillance bill, which is a disaster for privacy and civil liberties. On December 18, the Senate Banking Committee Chair Senator Sherrod Brown divulged on “Meet The Press” that the hearing was intended to “educate the public” on the dangers of cryptocurrencies and floated the idea of banning them altogether.
U.S. Stocks Likely To Retrace And Push Bitcoin Down Before Christmas
Bitcoin and the crypto market suffer from tightening conditions in the nascent sector and could see more losses coming into 2023. The poor performance in the U.S. stock market might contribute to this possibility.
Market participants were expecting a Santa Rally ahead of the holidays. There is less trading volume in the market which often leads to spikes in volatility. This year, volatility might side with the bears.
A Decline In Liquidity Across Global Markets Impacts Bitcoin
Director for Macro for investment firm Fidelity, Jurrien Timmer, has been warning about the current market conditions. In early November, the market enjoyed a short-lived rally following expectations of better conditions.
Major Publicly Traded U.S. Bitcoin Miner Files For Chapter 11 – Impact On The Market?
What many suspected after the news broke in late October has now become a reality. One of the largest publicly traded Bitcoin mining companies in the U.S., Core Scientific Inc. (CORZ), has filed for Chapter 11 bankruptcy, CNBC reported today. The network cites an anonymous source.
Whether the Bitcoin mining company will survive the crypto winter, however, remains to be seen. CORZ is still generating cash flow, but it is not enough to pay off the financing debt from the machine lease.
U.S. Justice Department Split Over Decision To Charge Binance In Criminal Investigation
Justice officials are reportedly deciding whether they have sufficient evidence to bring charges against the world’s largest cryptocurrency exchange.
- A Reuters report stated that several sources close to the investigation claim there is deliberation on whether to not to file charges against individual Binance executives including CEO Changpeng Zhao.
- Others within the investigating entities, which include the Money Laundering and Asset Recovery Section (MLARS), have argued in favor of reviewing more evidence.
- The investigation, which was launched nearly two years ago, comes at a precarious time for the industry as it reels from the collapse of FTX.
Aid For Ukraine Denies Transferring Funds With FTX To U.S. Democratic Party
The second crypto exchange in the world, FTX, collapsed taking down several companies in the fallout. The contagion negatively impacts companies, projects, and hedge funds and could have consequences for political actors in the U.S. and abroad.
Across social media, there are rumors about FTX and its founder and former CEO, Sam Bankman-Fried, using the platform to funnel money to politicians in the United States. This scheme and rumors tarnish efforts to help Ukraine in the war against Russia.
U.S. Department of Justice Seized Over $3.36 Billion In Bitcoin Tied To Silk Road
James Zhong stole over $ 3 billion BTC from Silk Road by committing wire fraud and possibly faces over 20 years in prison in the latest U.S. seizure.
The U.S. Department of Justice seized over $ 3.36 billion in BTC related to Silk Road that has been missing since 2012, per a release from the Justice Department.
James Zhong, an exploiter who stole 51,680.32473733 BTC from Silk Road, has pleaded guilty to committing wire fraud in order to steal bitcoin from the dark web marketplace.
The U.S. Will Weaponize The Dollar By Backing It With Bitcoin
The United States government is likely to back the dollar with bitcoin in order to protect its status as issuer of the global reserve currency.
This is an opinion editorial by Luke Mikic, a writer, podcast host and macro analyst.
This is the second part in a two-part series about the Dollar Milkshake Theory and the natural progression of this to the “Bitcoin Milkshake.” In this piece, we’ll explore where bitcoin fits into a global sovereign debt crisis.
The Bitcoin Milkshake Theory
Most people believe the monetization of bitcoin will most hurt the United States as it’s the country with the current global reserve currency. I disagree.
Why This Metaverse Casino Was Ordered By 4 U.S. States To Halt Operations
The Metaverse, while it has tremendous potential to provide legitimate business opportunities, can also serve as a window for scams that target unsuspecting individuals.
That’s the justification given by Texas State Securities Board Director Joe Rotunda in light of the decision he made together with his counterparts in Kentucky, New Jersey and Alabama to immediately stop Slotie’s sale of non-fungible tokens or NFTs.
Slotie is a virtual casino that leverages emerging technologies such as the Metaverse – a digital world where interaction between participants are enabled to facilitate transactions such as purchase, gaming and now, even gambling.
Bitcoin’s Lightning Capacity Soars, Why The U.S. Plays A Big Role
One of the largest Bitcoin Lightning Network (LN) node operators, River Financial, recently posted a report on this second-layer payment solution. Previously conceived as an experiment used by savvy BTC holders, the LN is quickly becoming a key component in this blockchain’s ecosystem and its potential ticket into the mainstream.
The report defines the LN as a second-layer Bitcoin solution that enables users to send and receive transactions off-chain, “without needing to wait for on-chain settlement”. This solution was created to improve BTC’s payment scalability by allowing entities to quickly transact in small amounts of the cryptocurrency without relying on block settlement.
Why This U.S. Senator Urged SEC To Issue Crypto Regulation
Disclaimer: The following op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.
U.S. Senator John Hickenlooper sent a letter to the U.S. Securities and Exchange Commission (SEC) and its Chairman regarding crypto regulation. A controversial topic in this country, the majority of government officials seem to believe in digital assets and Hickenlooper is no different.
In his letter, the government official reminds the regulator about his duty to “protect” investors, promote “responsible” innovation, and a clear framework. In that sense, he claims crypto and digital assets are being misused by people in the United States.
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