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Garlinghouse: SEC Official Received ‘Millions’ From Vested Interests, Tradfi Heavyweight Crypto Exchange EDX Launches, Peter Schiff on USD Decline — Week in Review
25.6.2023
Ripple CEO Brad Garlinghouse recently asserted that former SEC Division of Corporation Finance Director William Hinman “received millions of dollars of payments from his law firm” which had a vested interest in a well-known 2018 speech given by the then SEC official. In other news, crypto exchange...
What is De-Dollarization? Exploring the Shift Away From the US Dollar’s Global Dominance
25.6.2023
From the latter half of 2022 and continuing into 2023, the concept of de-dollarization has gained significant traction, making its mark on the mainstream media. This surge in attention can be attributed to the concerted efforts of BRICS countries such as Brazil, China, and Russia, who...
Brazil to Push De-Dollarization Agenda at BRICS Meeting
24.6.2023
Brazilian President Luiz Inácio Lula da Silva has revealed his intention to raise the issue of de-dollarization at the next BRICS meeting. “Why Brazil and Argentina would trade in dollars. Why don’t we do it in our own currencies? Why can’t Brazil and China trade in their currencies?...
Binance US Restores USD Withdrawals, Suggests Users Withdraw or Spend Their Dollars
23.6.2023
The U.S. subsidiary of the world’s largest crypto exchange, Binance, announced it has resolved the issues with U.S. dollar (USD) withdrawals. The trading platform, which recently averted an asset freeze sought by the United States Securities and Exchange Commission (SEC), informed customers...
Bitcoin ‘Permabull’ Max Keiser: ‘El Salvador Will Be Debt Free by 2030 With Bitcoin’
20.6.2023
Max Keiser, international journalist and chairman of mining company Volcano Energy, has pondered on the importance bitcoin adoption will have for El Salvador in the future. According to Keiser, thanks to bitcoin, El Salvador will be debt free by 2030, as the bitcoin price comes close to one million...
TUSD Supply Skyrockets With 1 Billion Injection Amidst Decline in Stablecoins
20.6.2023
Despite the decline in stablecoins due to substantial redemptions, particularly from projects like USDC, DAI, and BUSD, the project TUSD has experienced a notable surge in its supply. TUSD has added more than a billion dollars’ worth of tokens to its existing supply. As of the present moment...
Ripple CEO Brad Garlinghouse: Former SEC Official William Hinman Received ‘Millions of Dollars’ From Law Firms With a ‘Vested Interest’ in His Speech
19.6.2023
Ripple CEO Brad Garlinghouse has blasted the enforcement approach of the U.S. Securities and Exchange Commission (SEC) after the release of the Hinman docs, which contain internal discussions that the institution had before the now famous 2018 speech offered by former SEC Division of Corporation...
MakerDAO Weighs Ditching $390M of Gemini Dollars from DAI Reserve
14.6.2023
The result could have a significant impact on Gemini and its stablecoin as MakerDAO’s reserve holds roughly 88% of total GUSD supply
U.S. Treasury Examining How Using Digital Dollars Could Be Kept Private
13.6.2023
As the Treasury Department studies a possible central bank digital currency, senior official Graham Steele says the effort is looking at privacy, but is also wary of CBDC run risks
Binance US Halts USD Deposits, Withdrawals — Asks Users to Withdraw Dollars by June 13
10.6.2023
Binance US has informed its users that U.S. dollar deposits have been suspended and USD withdrawals will no longer be processed. The crypto exchange has asked customers to withdraw dollars by June 13 as it transitions into a crypto-only trading platform. The move followed a lawsuit against...
Chinese State-Owned Banks Cut Dollar Deposit Rates — Dismiss Government Influence Claims
9.6.2023
Major Chinese state-owned banks have lowered interest rates on U.S. dollar deposits. However, they reportedly dismissed claims that the moves were influenced by the Chinese government, stating that the rate cuts were market-driven. Chinese Banks Reduce Dollar Deposit Rates Major Chinese state-owned...
Do Kwon Moved $29 Million Worth of Coins Since Arrest, Prosecutor Says
8.6.2023
Founder of Terraform Labs, Do Kwon, has withdrawn millions of dollars in crypto from an entity linked to his failed blockchain firm, investigators claim. South Korean authorities are now trying to locate the digital assets that have been allegedly transferred since his arrest in Montenegro...
Regulators Uncover Binance's Billions of Dollars Transactions Through U.S. Banks
8.6.2023
A new filing from the U.S. Securities and Exchange Commission suggests that Binance moved billions of dollars in customer funds through Signature Bank and Silvergate Bank – both crypto-friendly U.S. firms that failed in March. ...
Read More: Regulators Uncover Binance's Billions of Dollars...
Regulators Uncover Binance's Billions of Dollars Transactions Through U.S. Banks
8.6.2023
A new filing from the U.S. Securities and Exchange Commission suggests that Binance moved billions of dollars in customer funds through Signature Bank and Silvergate Bank – both crypto-friendly U.S. firms that failed in March. ...
Read More: Regulators Uncover Binance's Billions of Dollars...
JPMorgan CEO Jamie Dimon Urges Against Challenging US Dollar’s Reserve Currency Status
8.6.2023
JPMorgan Chase CEO Jamie Dimon has urged against challenging the U.S. dollar’s reserve currency status amid the ongoing de-dollarization trend globally. “The United States is the fundamental foundation of the global economy. The U.S. dollar is the fundamental reserve currency,” Dimon said...
Russian Investigator Took Over 1,000 BTC in Bribe Money From Hackers, Report
7.6.2023
An investigator working in Moscow has been caught with a record-breaking bribe paid by a hacking group in cryptocurrency. According to a Russian press report, the corrupt official accepted millions of dollars’ worth of bitcoin and saved the digital money for his retirement years....
If Crypto Wants Institutional Dollars, It Needs an ESG Game Plan: Consensus 2023 Attendees
6.6.2023
Attendees at Consensus 2023 argue that the crypto industry should embrace ESG and not hide from it in an excerpt from CoinDesk’s first-ever Consensus @ Consensus Report
Bankers Shopping FTX's 'Hundreds of Millions of Dollars' Stake in AI Startup: Report
6.6.2023
At the time of its bankruptcy last November, FTX may have owned as much as $500 million worth of stock in Anthropic, the creator of ChatGPT rival Claude
Blackrock CEO Larry Fink Says US Is Jeopardizing Dollar’s Reserve Currency Status
5.6.2023
The CEO of the world’s largest asset manager, Blackrock, has warned that the United States is jeopardizing the U.S. dollar’s reserve currency status. He noted that the debt ceiling debate, risk of national default, and possible credit rating downgrades are “destabilizing” factors...
US Debt Ceiling Dramas Diminish Dollar’s Credibility and Reputation as Safety Asset, Warns Devere CEO
5.6.2023
The CEO of investment management firm Devere Group has warned that the U.S. debt ceiling dramas have weakened the U.S. dollar’s “global reserve currency’s credibility and reputation as a ‘safety asset.’” He cautioned that Congress’ debt ceiling deal “does not solve the underlying political...