A crypto-skeptical commissioner at the US Securities and Exchange Commission has blasted her agency over its settlement letter that could finally end the Ripple legal saga. The SEC and Ripple filed a joint settlement letter in a New York court asking for the August 2024 injunction against Ripple to be dissolved and $75 million of…
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The US Office of the Comptroller of the Currency (OCC) has confirmed banks under its jurisdiction can trade crypto on behalf of customers and outsource some crypto activities to third parties. Acting comptroller Rodney Hood said in a May 7 letter that banks and federal savings associations can buy and sell crypto they hold in…
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Nasdaq-listed Bitcoin mining firm Core Scientific Inc. posted a net profit of $580 million with its first quarter results, but missed analyst revenue estimates after a drop in its mining profits. Core Scientific’s Q1 2025 results, shared on May 7, saw it more than double its $210 million net income from the year-ago quarter, while…
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US Democrat lawmakers have launched a multi-angle attack on President Donald Trump’s crypto ventures with two bills and a subcommittee inquiry aimed at cutting his ability to profit from the initiatives. The Modern Emoluments and Malfeasance Enforcement Act, or the MEME Act, aims to prevent federal officials from using their position to profit from memecoins,…
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Alex Mashinsky, the founder and former CEO of bankrupt crypto lending platform Celsius, has blasted the government’s 20-year “venom-laced” sentence request, declaring it a “death-in-prison sentence.” The US Department of Justice requested Mashinsky receive at least 20 years behind bars in the May 8 sentencing for his role in misleading Celsius users and profiting from…
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Crypto losses spiked by 1,163% over April, with the lion’s share of lost crypto coming from a single heist of an elderly US individual’s wallet, says blockchain security firm CertiK. CertiK said in an April 30 X post that a total of $364 million was lost to exploits, hacks and scams in April, jumping from…
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Australia’s financial intelligence agency has told inactive registered crypto exchanges to withdraw their registrations or risk having them canceled over fears that the dormant firms could be used for scams. There are currently 427 crypto exchanges registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC), but the agency said on April 29 that it…
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Coinbase has urged the US Office of Government Ethics to remove a rule banning Securities and Exchange Commission staff from holding crypto. SEC staff need to use crypto to better understand how it works and the best way to regulate it, Coinbase chief legal officer Paul Grewal argued in open letters sent to OGE acting…
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Russia’s finance ministry and central bank are reportedly planning to launch a crypto exchange for qualified investors under an experimental legal regime. The platform will be aimed at “super-qualified investors,” Finance Minister Anton Siluanov said during a ministry meeting, according to April 23 reports from Russian media group RBC and Russian news agency Interfax. “Together…
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Brandon Lutnick, chair of investment banking firm Cantor Fitzgerald, is reportedly partnering with SoftBank, Tether and Bitfinex to create a $3 billion crypto acquisition company. Lutnick and the consortium hope to create a publicly listed crypto acquisition company to capitalize on the market under crypto-friendly US President Donald Trump, and replicate Michael Saylor’s company Strategy,…
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