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USDC Issuer Circle Moves $8.7B to Repo Agreements to Protect Reserves From U.S. Government Default
17.5.2023
Circle’s reserve fund has ditched Treasury bills that mature beyond May 31, rotating assets to cash and overnight repurchase agreements instead, a company spokesperson said
Crypto retail trading should be regulated as gambling: UK lawmakers
17.5.2023
The volatility and purported lack of intrinsic value of most crypto assets make it particularly risky for consumers, the politicians claimed
UK Lawmaker Group Clashes With Treasury Over Treating Unbacked Crypto as Gambling
17.5.2023
The U.K. Treasury Committee seemingly opposed the government’s proposal to recognize crypto as regulated financial activities
Today in Crypto: Samsung Reportedly Partners with Bank of Korea on Offline CBDC Payments, G7 Discussing Crypto, China to Train 500,000 Blockchain Professionals
15.5.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: Samsung Reportedly Partners with Bank of Korea on Offline CBDC Payments, G7 Discussing Crypto, China...
'Significant risk' of US Treasury running 'out of funds' soon: Report
14.5.2023
The United States Congressional Budget Office (CBO) has predicted that the U.S government's annual deficits will “nearly double over the next decade.”
US Government Faces ‘Significant Risk’ of Default in June, Congressional Budget Office Warns
14.5.2023
The Congressional Budget Office (CBO) has stressed that “there is a significant risk that the Treasury will run out of funds at some point in the first two weeks of June” if the debt ceiling is not raised or suspended. The CBO’s projection is in line with the estimate by the Treasury Department...
G7 Nations Discuss Countering China’s ‘Economic Coercion’
14.5.2023
The Group of Seven (G7) countries are discussing ways to counter China’s “economic coercion” against other nations, U.S. Treasury Secretary Janet Yellen has shared. Noting that Canada, France, Germany, Italy, Japan, the U.K., and the European Union share similar concerns,...
US Treasury Secretary Janet Yellen Urges Congress to Act Quickly on Debt Limit, States Defaulting Would Be ‘Unthinkable’
12.5.2023
U.S. Treasury Secretary Janet Yellen has warned again about the consequences of the U.S. defaulting on its debt. During a press conference in Niigata, Japan, Yellen stated that this would be a self-inflicted crisis, and urged Congress to act quickly on the matter, stating that defaulting would...
SEC Chair Warns US Default Would Have ‘Significant’ and ‘Lasting Effects’ on Investors, Markets
12.5.2023
Securities and Exchange Commission (SEC) Chairman Gary Gensler has warned that the U.S. Treasury defaulting on its debt obligations “would have very significant, hard to predict, and likely lasting effects on investors, issuers, and markets alike.” Gensler stressed: “We’ve already seen an effect...
Goldman Sachs, Yellen Warn of US Default’s ‘Catastrophic Consequences’ — ‘There Is Real Risk to US Dollar’
12.5.2023
A Goldman Sachs executive who also serves as the chair of a Treasury advisory committee has warned that a U.S. default poses “real risk to the U.S. dollar.” She stressed: “Anything that moves us away from being viewed as the world’s reserve currency, of being the safest most liquid...
Aragon Cancels Planned Community Control of $200M Treasury Amid Battle With Activist Investors
9.5.2023
The Swiss organization alleged investors including Arca were mounting a 51% attack
Elon Musk Shares ‘Massive Incentive to Move Money out of Bank Accounts’
9.5.2023
Tesla and Twitter CEO Elon Musk has shared a “massive incentive” to move money out of bank accounts, citing a significant interest rate gap created by the U.S. Treasury and the Federal Reserve. “As more people & companies realize this, bank depositor flight will accelerate...
Billionaire Bill Ackman on US Banking Crisis: We Are Running Out of Time to Fix This Problem
7.5.2023
Billionaire Bill Ackman has warned that “We are running out of time” to fix the problem that led to the collapses of regional banks. “How many more unnecessary bank failures do we need to watch before the FDIC, U.S. Treasury, and our government wake up?” he stressed, adding that “We need...
3% Tax on Crypto Transfers Part of Kenya's Proposed Budget: Bloomberg
5.5.2023
Kenya's Finance Ministry, the National Treasury, has proposed a 3% tax on the transfer of digital assets for the coming budget year
Biden Aides Explore Minting $1 Trillion Platinum Coin as Solution to Impending Debt Default
4.5.2023
As the United States stares down the barrel of a potential debt default come June, a curious and intriguing solution has emerged: crafting a single $1 trillion platinum coin. This unusual tactic exploits a legal loophole that allows the Treasury Department to mint platinum coins of any value....
North Carolina House Passes Bill Banning State Agencies From Accepting CBDCs
4.5.2023
The North Carolina House of Representatives passed a bill that would ban state agencies from accepting payments in central bank digital currencies.
Lawmakers passed that bill 118-0 on Wednesday.
The bill would encompass “any institution, bureau, board, commission, officer, or political...
‘WallStreetBets’ Themed Tokens Plummets 90% as Insider Dumps Treasury Holdings
4.5.2023
WSB prices fell sharply as the apparent token sale by insiders led to token holders dumping holdings en masse
Aragon Bans at Least 6 DAO Members During Treasury Discussion, Alleging ‘Coordinated’ Assault
3.5.2023
Their banishment from Aragon’s Discord for asking “probing questions” and using “inappropriate language” highlights the disconnect between the censorship-resistant ideals of crypto governance and the reality that insiders hold considerable sway
Legal Twist Let South Korean Treasury Make $3.7m from Seized Crypto
3.5.2023
A legal twist allowed the South Korean Treasury to make a large profit on crypto seized by law enforcers in 2018 – and liquidated while Bitcoin (BTC) was trading for just under $40,000.
Recently published legal documentation shows that the Busan District Prosecutor’s Office seized coins “worth...
Russia Monitoring US Economy Amid Possible Default, Says Official
3.5.2023
Russia is closely monitoring the U.S. economy amid discussions of the U.S. government defaulting on its debt obligations. Treasury Secretary Janet Yellen said the Treasury will be unable to pay the government’s bills if Congress does not act by June 1. Russia Monitoring US Economy in Case of Debt...