Robinhood’s Chief Legal Officer Daniel Gallagher criticized the US Securities and Exchange Commission’s (SEC) approach to crypto regulation in written testimony submitted for a Sept. 18 hearing before the House Financial Services Subcommittee on Digital Assets. Gallagher detailed Robinhood’s efforts to comply with SEC regulations, citing over a dozen meetings and calls over 18 months….
Crypto investment products experienced a sharp turnaround last week, with inflows reaching $436 million to partly reverse weeks of previous outflows totaling $1.2 billion, according to CoinShares‘ latest weekly report, Despite the influx, ETF trading volumes remained flat at $8 billion, significantly lower than the yearly average of $14.2 billion. What triggered the inflows? James…
GS Partners, a European-based entity involved in multiple cryptocurrency investment schemes, has agreed to refund all funds to investors in a settlement with five U.S. states. The agreement will see the firm pay back 100% of investor deposits in exchange for the dismissal of all civil claims and ongoing investigations. Investors Will Get Full Refunds…
The U.S. and Nigeria will host a pan-African Artificial Intelligence (AI) conference in Lagos from September 10-11. The conference will bring together government officials, tech leaders, and civil society to discuss the opportunities and challenges of AI development and use. Participants will work to identify and harmonize tech governance strategies to ensure AI is adopted…
Fintech start-up and trading app Robinhood has signed a $3.9 million settlement with the state of California. Indeed, all this settlement relates to numerous complaints regarding the platform’s activities, including odd manipulations with users’ accounts and cryptocurrency transactions. The main problem was associated with the limitation of any cryptocurrency withdrawals and other restrictions preventing users…
OpenSea CEO Devin Finzer announced that the firm received a Wells Notice from the US Securities and Exchange Commission (SEC) because the regulator considers the NFTs on its platform securities. In an Aug. 28 statement on X, Finzer expressed surprise at the SEC’s broad action against creators and artists. He stated: “We’re shocked the SEC…
OpenSea has received a Wells Notice from the SEC as the commission believes NFTs to be securities The platform’s head has claimed that it would oppose this claim and has pledged millions to cover artists legal costs OpeanSea, a leading NFT marketplace, seems to have drawn the attention of the US Securities and Exchanges Commission…
Coinbase has expressed the belief that young, pro-crypto voters might influence the 2024 US presidential elections and potentially could become the deciding factor on who wins. In a report released on August 19, the exchange states that Gen Z and Millennials—who now represent 40% of the electorate—are increasingly supporting candidates who advocate for crypto and…
Binance plans to hire 1,000 new employees this year, with a substantial focus on compliance roles. A large portion of these hires is specifically aimed at expanding the company’s compliance team from its current 500 members to 700 by the end of 2024. CEO Richard Teng, who is currently in the US for discussions with…
The funding for the U.S. Presidential Election 2024 from the crypto market has surged significantly- report. Over $200M in donations are piled from crypto companies, and Ripple and Coinbase lead the donation list. Donald Trump, a prominent contender for the presidential election 2024, has recently disclosed his crypto holdings. For the past few years, cryptocurrencies…
The Bernstein Research states that US miners have easier access to capital. The report states that US BTC miners will dominate the crypto-mining market. It also declared that combining Bitcoin mining with AI data centers is challenging. The Bitcoin miners based in the U.S. are well-positioned compared to unlisted miners. U.S.-based BTC miners have more…