Author: James Wilson
The United States Senate will vote this week on a resolution seeking to overturn the Internal Revenue Service’s crypto reporting rule, which industry players argue threatens the decentralized finance sector. Reports that U.S. senators were looking to overturn the IRS rule emerged at the end of February. In addition to the IRS crypto rule, lawmakers are also targeting the Consumer Financial Protection Bureau rule, which focuses on digital payment applications, for removal. Senator Ted Cruz recently introduced the resolution against the IRS rule under the Congressional Review Act, while Senator Pete Ricketts introduced a separate resolution to challenge the CFPB…
The U.S. SEC has agreed to dismiss its lawsuit against cryptocurrency exchange Kraken. Kraken announced that the U.S. Securities and Exchange Commission plans to dismiss the case with prejudice, meaning the agency cannot bring the same claims again. As a result, the lawsuit will be dropped without any admission of wrongdoing, penalties, or modifications to Kraken’s business operations. “The SEC’s lawsuit, which mischaracterized our consistent business model, was always without merit,” wrote Kraken. “This dismissal confirms what we’ve said all along: Regulatory actions must be based on facts, not political agendas.” Background on the lawsuit The SEC sued Kraken in November…
Australia’s government has ruled out creating a crypto reserve, focusing instead on regulation. Australia will not follow the United States in creating a strategic crypto reserve, despite President Donald Trump‘s efforts to make the U.S. the “Crypto Capital of the World.” While a spokesperson for Assistant Treasurer and Financial Services Minister Stephen Jones did not explicitly rule out a crypto reserve, he confirmed in an interview with Sky News Australia that the government is prioritizing the regulation of digital and crypto asset platforms over creating a strategic reserve. “The Albanese government has consulted on our proposed framework to build a…
Coinbase has filed a Freedom of Information Act request to uncover the U.S. Securities and Exchange Commission’s spending on non-fraud crypto investigations and enforcement actions under former Chair Gary Gensler. The request, covering April 2021 to January 2025, seeks to shed light on the costs associated with the SEC’s regulatory actions against the crypto industry. According to Paul Grewal, Coinbase’s chief legal officer, the exchange is requesting transparency on investigation details, employee hours, pay, and budget allocations. Grewal emphasized the need for accountability, particularly as the SEC transitions to new leadership. Coinbase’s push for government transparency Grewal outlined Coinbase’s objectives…
An Amazon CEO and the third richest man in the world, Jeff Bezos, who bought the third biggest newspaper in the U.S., The Washington Post, in 2013, announced restrictions on the policy of the opinion segment of the newspaper. The opinion editor David Shipley quit his job after learning about the changes. What are the new restrictions, and why do multiple crypto influencers support the change? On Feb. 26, 2025, in the X post, Bezos shared the note that he sent to the Washington Post employees earlier that day. In the note, Bezos announces that The Post is going to…
Solana has maintained its lead in decentralized exchange trading volumes for five consecutive months, according to DefiLlama data. Solana (SOL) has maintained its lead in DEX trading volumes for five consecutive months, according to DefiLlama data. In Feb., the Solana blockchain recorded a DEX trading volume of $105.85 billion, far ahead of BNB Chain (BNB), which ranked second with a trading volume of $84.25 billion during the same period. Source: DefiLama This comes amid a significant slowdown in the Solana meme coin market, most notably activity on Pump.fun. Pump.fun, one of the largest drivers of Solana’s revenue in 2024, has…
President Donald Trump has announced the creation of a “Crypto Strategic Reserve” that will include five digital assets. This announcement builds on various promises made by Trump’s campaign, including establishing the United States as the “crypto capital of the world” and strengthening the country’s financial infrastructure. The suggested crypto included Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA). Andrew O’Neill, Digital Assets Managing Director at S&P Global Ratings, provided insights on Trump’s latest announcement. O’Neill noted that Bitcoin stands out as an alternative monetary asset and can stand as a hedge against long-term currency debasement and supporting…
Core Scientific names former Morgan Stanley banker as new CFO after bankruptcy exit. Bitcoin (BTC) mining giant Core Scientific has appointed former investment banker Jim Nygaard as its new chief financial officer following the company’s emergence from Chapter 11 bankruptcy. Nygaard replaces Denise Sterling, who played a key role in leading the company through bankruptcy and helped raise over $1 billion, according to a Feb. 3 press release. With nearly 30 years of experience in investment banking, focusing on mergers and acquisitions, corporate finance, and capital raising, Nygaard has been a managing director at XMS Capital Partners since 2008. Before…
Tether has hired a chief financial officer to address lingering audit concerns. Tether, operator of the largest stablecoin token (USDT), announced that Simon McWilliams will take on the role, aiming to drive the company toward a full financial audit. The move could address ongoing scrutiny over Tether’s operations, particularly regarding the absence of a comprehensive audit. Following the 2022 crypto market collapse, users and institutional investors sought greater transparency. Exchanges responded by publishing proof-of-reserves reports to confirm they held matching deposits, ideally with a surplus of assets. Tether followed suit, introducing quarterly attestations conducted by BDO Italy, an independent consulting…
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. As Chainlink prepares for a breakout, XYZVerse’s $9 million presale is gaining traction, sparking excitement in the altcoin market. As the cryptocurrency market shows signs of renewed activity, significant movements are emerging among altcoins. Chainlink appears poised for a crucial price surge, attracting attention from investors. At the same time, XYZVerse’s impressive $9 million presale is gathering momentum. These developments raise questions about the future of alternative cryptocurrencies and what opportunities may lie ahead. XYZ’s knockout journey XYZVerse isn’t…