As part of a Biden Administration Executive Order aimed at assessing cryptos, the Whitehouse has just issued a new report, titled “CLIMATE AND ENERGY IMPLICATIONS OF CRYPTO-ASSETS IN THE UNITED STATES.” Crypto watchers were quick to read tea leaves concerning some of the cryptos mentioned in the document. But the deeper takeaway is that the...
The Federal Reserve is using the Cypherium blockchain to power its FedNow Service for digital payments. And as of mid-September, the system is now being made available to financial institutions for beta testing. According to The Federal Reserve, the new instant payment service will allow financial institutions of all sizes to offer secure and effective...
FDIC TELLS FTX AND OTHER CRYPTO EXCHANGES TO CUT THE FALSE CLAIMS FTX and several other crypto exchanges have been playing loose with facts regarding whether client held assets are FDIC insured. The FDIC responded this past week with a cease-and-desist letter to the exchanges involved, demanding that they take down the deceptive messaging, which...
Right now, web3 decentralization either hasn’t made it past the drawing board, or is very partial, to say the least. Yes, Bitcoin paved the way as a permissionless, truly decentralized blockchain ledger network. But many other “decentralized” apps and services have legacy web chokepoints. Serge Var and his team at Point Network are working to...
ETHEREUM DOMINANCE BECOMING A DONE DEAL If the upcoming Ethereum “merge” to a proof-of-stake consensus method comes off without any hitches, it’s likely to further cement the crypto network’s dominance—and that spells trouble for “Ethereum killer” rivals. So says Blockchain.com co-founder and CEO Peter Smith. “The challenge for all of those blockchains is that you...
Last week we reported on the chances of Congress enacting regulations that would require crypto stablecoins to have reserves of dollars as backing. Investor Kevin O’Leary, among others, believe that such regulations would go a long way toward preserving the dollar as the world’s reserve currency. But as we’ve also previously reported on and predicted,...
Under the guise of preventing sanctions evasions and money laundering, the Federal government is setting the stage for tracking virtually every transaction of Americans—including anyone who uses cryptos and the likely forthcoming “digital dollar.” How did we end up in this financial surveillance state? Partly based on the fast evolving capabilities of technology. And partly...
REGULATORS RUNNING WILD? SENATE STAFFER SAYS SEC INVESTIGATING EVERY U.S. CRYPTO EXCHANGE The Securities and Exchange Commission (SEC) has been bogged down for years in a head-numbing lawsuit against Ripple Networks and XRP, technology which could bring the SWIFT system out of the stone age. But the latest SEC news promises even more misguided absurdity....
Blackrock, one of the world’s largest asset management firms, is partnering with Coinbase to provide investors with crypto investing capabilities. Through connectivity with Coinbase Prime, institutional clients of Aladdin, BlackRock’s end-to-end investment management platform, will have direct access to cryptocurrencies, starting with bitcoin. Coinbase announced the partnership on 4 August, and shares of Coinbase stock...
Many believe the dollar’s current strength is more a result of the relative weakness of alternatives on the world stage, rather than the soundness of the U.S. economy and financial system itself. But there is a path to the dollar fending off attacks from rivals, and maintaining its place as the world’s reserve currency. Or...
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