Cryptocurrency news by Protos

Binance Australia's derivatives license has been revoked by the Australian Securities and Investments Commission as part of an ongoing "targeted review" of Binance's businesses in the country, according to a press release issued on Thursday.The command was given in response to Binance's own request to cancel the license, following a formal hearing conducted by ASIC to consider whether to revoke it. Listen to the article to learn how Binance tried to put a positive spin on the news. For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

TikTok users have viewed videos using crypto hashtags over 1.6 billion times, but a new study found that more than one-third of those videos contain misleading information.Click on the video to find out more about 'cryptok' creators and why their pushing their own products alongside misleading content. For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

The quartet of failed crypto entrepreneurs — Zhu Su, Kyle Davies, Mark Lamb, and Leslie Lamb — are already striking out on their latest venture Open Exchange (OPNX), a cryptocurrency and bankruptcy claims exchange that launched a mere two days ago. So, what’s gone wrong in this incredibly short period of time? Everything that could.Listen to the article to find out about OPNX's direr liquidity and declining token.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

New York Department of Financial Services superintendent Adrienne Harris has described the idea that last month's Signature Bank takeover was motivated by crypto as "ludicrous," reports Coindesk.Listen to this article to discover how crypto Twitter was awash theories that the bank's shutdown was related to a crackdown on banks providing services to crypto firms. For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

In an unwaveringly cringeworthy interview with Forbes, Reddit co-founder Alex Ohanian made the claim that due to the traumatic suffering his family endured during the Armenian Genocide, he’s decided to invest millions of dollars into NFTs.“Even if all this experiment produces is a mechanism that enough people believe in to be able to take some notion of ownership or value… that feels like a win,” he said, vaguely. But let’s be real, Alex, you’re buying NFTs because you like them and want to make money, not to create any genocide-related safety mechanisms.Listen to the article to find out why the Reddit co-founders NFT blitz has little to nothing to do with Armenian diaspora.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

It’s official: the last quarter for which Tether is required to legally submit to attestations of its reserves, as dictated by the Attorney General of New York, has passed. That means, at least according to the law, the company no longer has to submit any attestations, quarterly or otherwise.Listen to the article to find out how we shouldn't expect much. For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

Bob Lee, founder of cryptocurrency MobileCoin and payments service Cash App, and former chief technology officer of Square has died after being stabbed in San Francisco on Tuesday.At around 2:35 am local time, police responded to reports of an incident near the city’s Rincon Hill neighborhood.Listen to the article to find about the events that unfolded and how the internet responded. For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

Software engineer Tobi Ojuolape has published a method for making very large payments using Bitcoin’s Lightning Network that recommends Lightning nodes upgrade to support atomic multipath payments (AMPs). Ojuolape’s proposal is unexpected because the Lightning Network primarily handles small payments. Historically, research into large, Lightning payments has been neglected.Listen to this article to find out what makes Bitcoin atomicity work and the benefits it can bring to the Bitcoin lightning network. For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

Six virtual currency accounts allegedly used to launder funds for a number of crypto investment scams have been seized by the US Justice Department (DoJ) along with an estimated $112 million in virtual currency.As detailed in warrants greenlit by judges in Arizona, California, and Idaho, the scammers persuaded victims to invest in fraudulent crypto trading platforms before funneling the funds to their own wallets.Authorities investigating the case have pledged to return as much of the funds as possible to the victims.Find out more about the series of confidence scams by clicking on the video above.  For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

The Securities and Exchange Commission (SEC) is responsible for overseeing, regulating, and enforcing compliance on US securities offerings, and following its rules can be tough. Indeed, many crypto proponents would rather disregard — or abolish — the SEC altogether.Here we’ll contextualize their attempts to fight the world’s most powerful securities regulator.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

Reginald Fowler, the former principal for Crypto Capital Corp who previously plead guilty to multiple felony charges has been spending his time on bail gambling hundreds of thousands of dollars.Fowler, who was also part-owner of NFL team the Minnesota Vikings, has pleaded guilty to a raft of charges, including bank fraud, wire fraud, and operating an unlicensed money transmitter. Listen to the article to find out why the Authorities had to step in on Fowler's gambling tendencies.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

Arbitrum recently released its ARB token and announced its intention to begin empowering a Decentralized Autonomous Organization (DAO) with authority over the direction of the protocol.Arbitrum claims that “ARB token holders have the ability to directly propose, vote on and effectuate on-chain AIPs.” However this initial proposal, despite being written in the future tense, was not really a proposal as the company had already begun acting on it.Despite the community voting against several ‘proposals’ roughly two to one, the proposals themselves were already being implemtented, rendering their votes meaningless. Listen to the article to find out why Arbitrum is misleading its token holders.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

In July, the US federal reserve will finally release FedNow, its very own payment system that it says might just outperform virtually all digital assets, including stablecoins and the planned digital dollar.FedNow says it will make USD settlements between financial institutions faster and cheaper while staying up and running 24/7. It also claims superior scaling, intraday finality, and vastly improved traditional interbank settlement systems like FedWire or ACH systems. Put simply, FedNow might completely replace the need for a US central bank digital currency. You can find out exactly how FedNow plans to outdo the digital dollar along with almost every other digital asset by listening to the article above.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

The multi-year legal battle led by the Securities and Exchange Commission regarding Ripple’s alleged unregistered securities offering could end in summary judgment by April. The defendants are Ripple, Chris Larsen, and Brad Garlinghouse.Ripple raised $1.3 billion through its XRP token sale. The SEC alleges various illegalities of its offerings in its civil lawsuit. The presiding US District Court Southern District of New York could rule in summary judgment within a few weeks.Find out what Ripple plans to do against the commission's crypto lawsuit winning streak by listening to the article above. For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

Zhu Su, Kyle Davies, Mark Lamb, and Leslie Lamb’s new cryptocurrency exchange OPNX, is set to open in April.The exchange, which was originally intended to simply be a trading platform for asset claims on bankrupt exchanges, hedge funds, and other broken companies, has shifted to being a spot, futures, margin, and bankruptcy claims trading platform.OPNX promises transparency, fantastic UX, and fair pricing on order books. The reality is that OPNX is opaque and run by shady people with shady pasts.Find out how the new exchange is downplaying the actions of Zhu Su and Kyle Davies by listening to the article above. For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

Local Grenadian media reported that Tron founder Justin Sun lost his ambassador status and title ‘His Excellency’ during the summer of 2022, despite keeping up the pretence on social media in the months following.Sun’s @HEJustinSun Twitter handle continued posting through October. As previously reported by Protos, the last documented video of ambassador Sun representing Grenada at the World Trade Organization is an unlisted YouTube video from his June trip to Geneva.Listen to the article to find out the growing list of troubles Justin Sun can't seem to shake.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

An anonymous ‘entity’ that has been opening connections to Bitcoin nodes and listening to transaction announcements is likely a corporation performing some kind of blockchain analysis, according to pseudonymous Bitcoin app developer 0xB10C.In a blog post published on Tuesday, 0xB10C detailed how the unknown individual or group appears to be trying to collect IP addresses of Bitcoin users and link them to their BTC addresses.Listen to the article to find out how the unkown entity is finding these IP addresses and for what ends.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

FTX founder Sam Bankman-Fried is expected to plead not guilty on Thursday to a new set of charges by the US government, which allege that the curly-haired former billionaire bribed Chinese officials to unfreeze locked funds belonging to Alameda Research, SBF's now-defunct crypto trading firm, and conspired to violate campaign finance laws.Listen to the article to find out how Sam Bankman-Fried gave $40 million to Chinese officials in order to unfreeze Alameda trading accounts containing $1 billion in cryptocurrency.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

The Senate Banking, Housing, and Urban Affairs Committee, which consists of 23 senators, including cryptocurrency advocates like Cynthia Lummis and haters like Sherrod Brown, all convened to discuss the collapse of Silicon Valley Bank (SVB).Unfortunately, instead of discussing how best to allay banking fears and concerns, hedging systemic risk, and setting up new rules and regulations, the senators used their time to yell at regulators to get a good soundbite for the next time they run for office.Listen to how what could have been a useful educational experience turn into a stereotypical display of the circus that is American politics.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

Twitter influencer Shinobi has recommended adding zero-knowledge proofs for Bitcoin in an op-ed for Bitcoin Magazine.They allow one party to prove that a statement is true without revealing the contents of the statement. It proves data is valid with zero knowledge of the data itself. For example, a ring signature is a basic ZKP.Learn more about the proposal by listening to the article above.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

The Securities and Exchange Commission has filed a lawsuit against Beaxy, affiliated entities, and executives for operating an unlicensed securities exchange.The lawsuit alleges that they engaged in the sale of an unregistered security with exchange token BXY, and also operated Beaxy as an unregistered securities exchange, failing to register as a broker or a clearing agency.Find out what the rest of the allegations entail and the details behind a $900,000 misappropriation of funds by listening to the article above. For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

A judge for the United States District Court in the Southern District of California has ruled that DAO token holders can, as members of a general partnership, be held liable in a class action lawsuit for a hack suffered by bZx DAO. The lawsuit relates to a hack the bZx protocol experienced in November 2021 when one of the developers was phished and it was compromised for approximately $55 million worth of tokens.After the hack, the 'DAO' voted to approve a plan that would eventually provide replacement DAO and debt tokens that would be repurchased. The plaintiffs in this lawsuit allege that this repayment would take "thousands of years."Listen to the article to find out what this decision could mean for those holding any tokens with governance rights. For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

Silvergate Bank announced its voluntary liquidation and said that it would soon be closing as a bank -- so why is it still trading on the New York Stock Exchange and worth approximately $2 a share? Listen to the article to find out why.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

Elusive Three Arrows Capital founders Kyle Davies and Su Zhu face being found in contempt of court if they fail to respond to an order summoning them to court in the British Virgin Islands.The pair have been ordered to attend court on May 22 to aid in the collapsed firm’s liquidation proceedings. Listen to why authorities shouldn't hold their breath waiting for Davies and Zhu to get in touch by clicking the video above.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

Terraform Labs founder and former fugitive Do Kwon is currently in a Montenegro jail awaiting likely indictment for alleged document forgery. Protos spoke to a criminal defense lawyer in the country to learn what daily life is now like for Kwon — and it’s a world away from the luxury of the private jet he attempted to board before his arrest.Listen to the article above to find out the type of prison Kwon might be finding himself in and just how lengthy his sentence could be.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

Coinbase wants to create more stablecoins to diversify away from its longtime favorite, the beleaguered USDC. The $16 billion crypto exchange has published its intent to develop a suite of experimental, inflation-adjusting stablecoins. These so-called ‘flatcoins’ will denominate trading pairs on Base, its proprietary Ethereum Layer 2 network.You can find out everything you need to know about Coinbase's new 'flatcoins' by listening to the article above. For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

On Monday, March 13, the year’s largest crypto hack so far occurred. Almost $200 million was stolen from decentralized lending protocol Euler Finance. The attack was devastating to the Ethereum-based platform, whose total value locked dropped by over 95%, as well as other DeFi projects which had funds tied up in Euler, such as Angle and Balancer.Thanks to on-chain messages, we see how negotiations with the hacker took place. Listen to the article to find out what was exchanged between the two parties and what we now know about the hacker. For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

A new superseding indictment has been filed against Sam Bankman-Fried, the former FTX and Alameda Research chief. The indictment adds a new conspiracy charge related to a bribery scheme that allegedly saw SBF direct more than $40 million in cryptocurrency to Chinese officials.Listen to why SBF has been hit with these latest charges that add to an already growing list of crimes.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

The US Federal Reserve rejected Custodia Bank’s application for a master account on January 27. Last week, it released a document explaining its reasoning for the rejection.Like Kraken founder Jesse Powell, many fans of Custodia (formerly Avanti) praised its fully backed, non-fractional reserve banking application. However, almost no one spoke about Custodia’s shadowy plan to mint its own stablecoin with “implicit backing” from the Fed that would, according to regulators, add “a new, meaningful, volatile source of demand for Federal Reserve liabilities.”Aside from Custodia’s founder Caitlin Long, the bank had no bigger cheerleader than Powell. Indeed, he tweeted his support for Custodia regularly. Listen to the article learn, unsurprisingly, he has a long history of supporting other shadowy stablecoins, especially Tether.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

The Commodity Futures Trading Commission has filed a lawsuit against Binance chief Changpeng Zhao, Binance, and it’s chief compliance officer, Samuel Lin.It alleges serious compliance breaches, including a failure to register, allowing US persons to trade products they shouldn’t, and numerous KYC and AML failures.Listen to the article to find a full breakdown of the allegations and Binance’s response to the lawsuit.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

In his first interview after FTX crashed in November, Binance chief Changpeng Zhao (CZ) insisted that Binance is a clean exchange — that it matches trades but doesn’t trade futures or act like a trading shop.However, yesterday’s complaint filed by the US Commodity Futures Trading Commission against Binance, CZ, and chief compliance officer, Samuel Lim, suggests that the firm most definitely is a trading shop. According to the suit filed in Chicago federal court, Binance has its own unregistered trading operation through its “quant desk.” Listen to the article to find out why this detail could be the end of Binance.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

The former Chinese billionaire behind the ill-fated Himalaya exchange and stablecoin reportedly pulled the strings at right-wing media outlet Gettr, using the platform to promote cryptocurrencies and conservative propaganda, according to former Gettr employees who spoke to The Washington Post.Guo Wengui was a known Gettr investor but, as of last Sunday, it’s now apparent how big a role he had to play in financing, hiring, and making content decisions for the platform.Find out how Guo allegedly took control of the Gettr app and what he did with the power by listening to the article above. For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.

Terraform Labs founder Do Kwon registered a consultancy company in Serbia just three weeks after Interpol issued an international warrant for his arrest, according to business registry officials speaking to DL News.Official records obtained by the outlet show a company called Codokoj22 was registered in the old town of Belgrade by Kwon and his business associate Han Chang-joon. The pair were arrested together in Montenegro for document forgery and traveling on a fake passport, after attempting to board a private jet to Dubai last week. Both deny the charges.Find out the different connections the pair have to the company by listening to the article above.For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.

Political consultant and cryptocurrency advocate Samuel Armes announced last week that he is planning “a war-gaming session in Miami” to coincide with the Bitcoin 2023 conference. Armes was questioned last year by the House select committee for his alleged connections to the Proud Boy conspiracy and the January 6 insurrection.Listen to the article to find out what he means by "a war-gaming session" and the reasons behind such a meeting.For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.

The serial entrepreneur, tech bigwig, and singer Jeffrey Huang, better known in the crypto world as Machi Big Brother, has suffered realized losses of up to 2,400 ETH ($4.2 million) thanks to his attempts to farm tokens from the Blur NFT exchange.Traders on Blur have been involved in so-called ‘farming wars,’ buying up and selling large amounts of NFTs to collect Blur tokens awarded against the user’s activity on the exchange.But some traders like Huang have taken this farming to a very serious level, buying and selling mainly blue-chip NFTs such as Bored Ape Yacht Club and CryptoPunks in very large volumes.Listen to this article to find out the ins and outs behind Huang's farming war. For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.

Two years ago, billionaire entrepreneur Peter Thiel suggested that, during a cryptography conference 23 years ago, he met the person or group calling themselves Satoshi Nakamoto. He even came close to admitting he knew Satoshi’s precise identity. Now, following Thiel’s colleague Balaji Srinivasan predicting that bitcoin will be worth $1 million, these rumours have come to the surface again.It’s possible that Thiel did know Satoshi as he did run in the same circles as them — from being a member of the PayPal Mafia to befriending Srinivasan and the founder of the first Bitcoin magazine, Vitalik Buterin.But how deep do these ties go? And how likely is it that Thiel knows who Satoshi really is? Listen to the full article in the video above.For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.

A report by CNBC claims to have revealed how Binance employees and volunteers are helping Binance users to avoid KYC checks.CNBC translated a Chinese language Binance Discord server and Telegram group and found that Binance staff are showing customers how to bypass Binance KYC checks.Listen to the article to find out all the different KYC workarounds being suggested by the Binance staff.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

It’s been an extraordinarily difficult week for crypto companies and scammers, from a Wells Notice for Coinbase and crypto getting slammed by the White House, to Do Kwon getting apprehended with fake identification documents in Montenegro, there seems to be no escaping the long arm of the law.But the strangest behavior from anyone currently being eviscerated by law enforcement has to be that of Justin Sun, founder of the Tron blockchain and owner of several cryptocurrency exchanges.Listen to the article to find out about the big boiling pot of water Justin Sun has seemingly found himself in.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

Interpol has confirmed that Terraform Labs founder Do Kwon has been arrested in Montenegro’s capital city airport attempting to board a plane to Dubai with falsified Costa Rican and Belgium passports. The United States has subsequently filed eight counts of criminal charges against Kwon.Find out the details behind his arrest and why everyone wants a slice of Kwon by listening to this article.For more informed news, follow us on Twitter, Instagram, and Google News or visit our website at Protos.com Hosted on Acast. See acast.com/privacy for more information.

Following “constructive negotiations,” Sam Bankman-Fried’s bankrupt FTX has inked a deal to pull back more than $460 million in assets from Modulo Capital, the Bahamas-based hedge fund that received $475 million from Alameda Research back in 2022.You can find out more about what was said in the court filings by listening to the article.For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.

While the vitriol and mocking of public-facing venture capitalists like Jason Calacanis, David Ackman, and David Sacks is always welcome, what needs to be rendered clear is that there’s a deeper hypocrisy poisoning the well of venture capital: VCs refusing to acknowledge that they’re a community of like-minded individuals, who helped Silicon Valley Bank -- their bank of choice -- fail.Let’s go back to the beginning.For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.

The Securities and Exchange Commission has filed a lawsuit against Justin Sun, affiliated firms, and celebrity promoters, alleging market manipulation and sales of unregistered securities.Listen to the article to learn the allegations the commission is making against Sun and his TRX and BTT tokens.For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.

The bitcoin mining industry has suffered a bear market lasting over a year. Miners lost the vast majority of their market capitalizations, resulting in companies seeking alternative sources of income, like taking subsidies for modulating municipal power grids, monetizing flared gas, or wholesaling stranded energy contracts.Nonetheless, this year’s 64% rally in bitcoin has certainly buoyed mining stocks. The bull is back. Listen to this article to find out why. For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.

Singaporean crypto exchange OkCoin has suspended trading for NYCCoin and MiamiCoin, the respective cities' foray into cryptocurrencies, citing low liquidity.According to a March 9 statement, token holders can withdraw their funds or keep them in their wallets -- but buying, selling, and trading isn't possible. However, OkCoin says it hopes to reopen these features soon.For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.

Coinbase execs have dumped nearly nine times more shares in the company than they’ve bought since the start of the year, according to data from insider trading tracker, Dataroma.The most recent figures show that since late December, company insiders have sold more than half a million shares at a total value of just over $26 million. By contrast, only 57,000 shares, worth just under $2.6 million, have been bought.For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.

The US government is concerned about the unlikely yet destabilizing possibility of nationwide bank runs. The Federal Reserve and Treasury already bailed out two banks last week, including the second-largest bank failure in the country’s history: Silicon Valley Bank. Now, the US Treasury is considering a backstop of all bank deposits nationwide.For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.

Fully compliant crypto companies should be placed on a ‘white list’ to help banks to determine which ones are safe to expose to their clients, says CryptoUK, the UK’s leading crypto trade organization.In a letter to regulators, CryptoUK says that circulating a list of safe firms is just one of a number of measures the government can take to prevent exchanges from being cut adrift from the financial system.Listen to the article to hear why CryptoUK wants a 'white list.'For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.

The Treasury Department and Internal Revenue Service are looking for guidance on whether to treat non-fungible tokens as a collectible under tax law.In it’s own research, the IRA are struggling to determine if different renditions of an NFT should be consider a collectible, from owning an NFT gem, to an NFT of a plot virtual land.Listen to the article to find out exactly what the IRA wants to know from owners of NFTs.For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.

David Sacks, the VC famous for co-founding PayPal, his tech investments, and for buying and dumping $1 billion worth of Solana, raised the alarm during Silicon Valley Bank’s bank run.In his panicky tweets, Sacks argued that if SVB wasn’t saved, regional and small banks would also experience bank runs, causing financial chaos.Yet, it seems that a number of the PayPal Mafia -- a group of investors who founded the firm -- pulled their money out of the bank before asking the authorities to step in. Listen to the article find out why the venture capitalist's flawed views are so at odds with his position on other policy issues.For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.

The market cap of TrueUSD has more than doubled in the last month to over $2 billion. TrustToken Incorporated, one of the companies behind the True family of tokens advertises them as “maximally transparent,” but the reality is somewhat different.Listen to the article to discover who runs this token, the on-chain behavior of its tokens, and the history of its attestations and reserves.For more informed news, follow us on Twitter, Instagram, and Google News or subscribe to our YouTube channel. Hosted on Acast. See acast.com/privacy for more information.