Republican Senator Ted Cruz has introduced a bill to block the United States Federal Reserve from launching a “direct-to-consumer” central bank digital currency (CBDC). In a March 21 statement, Cruz said he introduced the bill to prevent the Fed from developing a retail CBDC “which could be used as a financial surveillance tool by the…
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United States federal prosecutors have charged a former executive of the fraudulent cryptocurrency scheme OneCoin for her role in the operation. Irina Dilkinska now faces up to 40 years in prison after being extradited from Bulgaria. On March 21, the Department of Justice charged Dilkinska — OneCoin’s former head of legal and compliance — with one…
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Crypto executives have expressed irritation over the latest White House economic report — which notably features an entire chapter dedicated to casting doubts on the merit of digital assets. The Economic Report of the President, released March 20, marks the first time the White House has included a section on digital assets since it first…
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If the United States government really is implementing “Operation Choke Point 2.0” it will hurt financial stability and may have contributed to the collapse of Silicon Valley Bank (SVB) according to Donald Trump’s former Acting White House Chief of Staff, Mick Mulvaney. “I don’t want to think that the government would actually do that,” Mulvaney…
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The value proposition of Bitcoin (BTC) is on full display amid the current banking crisis, which will only “attract more institutions” to the BTC market over time, ARK Invest CEO Cathie Wood believes. Wood shared her thoughts on BTC’s recent price surge in a March 21 Bloomberg interview, stating its price behavior through the crisis…
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Nonfungible token (NFT) marketplace Magic Eden has launched its own “fully audited” marketplace for Bitcoin Ordinals, leveraging the surging interest in “Bitcoin NFTs.” The newly launched marketplace allows Bitcoin (BTC) NFT traders to buy and sell Bitcoin Ordinal collections, giving users a similar experience it offers for Polygon, Ethereum, and Solana-based NFTs. Extremely excited to…
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A bankruptcy judge overseeing the bankruptcy case for crypto lending platform Celsius Network has approved a settlement plan allowing custody account holders to get back 72.5% of their crypto holdings. In a March 21 hearing, United States Bankruptcy Judge Martin Glenn signed off on an agreement allowing Celsius custody account holders the right to receive…
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Sushi DAO proposed the creation of a legal defense fund March 21 in response to the “recent” subpoena of Sushi head Jared Grey and the decentralized autonomous organization (DAO) itself by the United States Securities and Exchange Commission (SEC). The DAO’s proposal did not provide details about the SEC subpoena. It stated that it was…
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Cody Harris, a member of the Texas House of Representatives, has introduced a resolution aiming to have the legislature say the “Bitcoin economy is welcome” in the state. In a resolution released on March 21, Harris encourages Texas lawmakers to “express support for protecting individuals who code or develop on the Bitcoin network” as well as…
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Bitcoin’s (BTC) price broke above the February 2023 highs of $25,200 after U.S. inflation data was in consensus with the market expectation. The potential fallout of the global banking system further promoted Bitcoin investment as a non-correlated global hedging instrument similar to gold in March. The correlation between gold and BTC has been rising since…
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