Gary Gensler, chairman of the United States Securities and Exchange Commission, told the House Financial Services Committee hearing on Sept. 27 that he enjoys testifying before the committee. He had well over four hours of that pleasure that day, much of which was devoted to criticism of his agency’s policies and actions. Among the long…
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On Sept. 20, the Federal Reserve delivered a message that reverberated through financial markets: interest rates are expected to remain at their highest level in over two decades, and possibly for longer than most market participants’ expectations. This attitude comes against the backdrop of stubbornly high inflation, with the core inflation rate hovering at 4.2%,…
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United States Rep. Tom Emmer has spoken out against Securities and Exchange Commission chairman Gary Gensler during a hearing at the House Financial Services Committee on Sept. 27. According to the lawmaker, Gensler has been loyal to Wall Street “at the clear expense of innovation, competition, and everyday Americans.” Over the course of a 4-minute…
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In this week’s newsletter, check out Glassnode data that shows nonfungible token (NFT) protocol Bitcoin Ordinals may not be clogging the network. Read about British politicians using the metaverse to discuss opportunities and challenges in Web3, and find out why Rolling Stone says NFTs are “finally totally worthless.” And don’t forget this week’s Nifty News,…
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IBM Quantum and Microsoft have formed a coalition to tackle post-quantum cryptography alongside not-for-profit research tank MITRE, U.K.-based cryptography firm PQShield, Google sibling company SandboxAQ, and the University of Waterloo. We’re proud to be a part of a new community of cybersecurity organizations to accelerate adoption of post-quantum cryptography in commercial & open-source technologies. Learn…
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The U.S. state of Texas accounts for over 28% of all Bitcoin (BTC) hashing power in the United States, according to the latest Hashrate Map by crypto mining service provider Foundry USA. The newly updated map shows Texas with 28.5% of all Bitcoin hash rate in the country, followed by the states of Georgia claiming…
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A federal judge has granted a motion from the legal team for Sam Bankman-Fried (SBF) allowing the former FTX CEO to wear business attire during his first criminal trial. In a Sept. 27 order filed in United States District Court for the Southern District of New York, Judge Lewis Kaplan said the United States Marshals…
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Rep. Patrick McHenry, who chairs the United States House Financial Services Committee, has suggested that he may try to subpoena the Securities and Exchange Commission (SEC) over documents related to former FTX CEO Sam Bankman-Fried, or SBF. In a Sept. 27 hearing on oversight of the commission, McHenry claimed chair SEC Gary Gensler had made…
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Cryptocurrency exchange Binance has claimed that it will fully quit Russia by selling its local business to a completely new exchange known as CommEx. While promising its customers a “smooth” migration, Binance hasn’t provided much information about its successor in Russia. At the time of the announcement, little is known about CommEx’s founders or background. The…
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Legal frameworks ensuring user privacy and the freedom to choose between central bank digital currencies (CBDCs) and other forms of money will be key in driving CBDC adoption, according to the head of the Bank of International Settlements. Speaking at the BIS Innovation Hub conference in Switzerland on Sept. 27, BIS general manager Agustín Carstens…
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