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On Dec. 18, Fairshake, a federally registered super PAC, and its affiliated network launched their initial fundraising campaign. According to the release, the PAC is dedicated to promoting leaders who embrace the transformative potential of the American crypto community. Fairshake has garnered support from industry players such as Andreessen Horowitz, ARK, Brian Armstrong, Blockchain Capital, Wences Casares, Circle, Coinbase, and Cameron and Tyler Winklevoss. Team @Ripple is putting a stake in the ground, leading the charge with other industry leaders to support pro-innovation and pro-crypto candidates in the 2024 US election cycle. The US cannot afford to continue taking a back seat on the global stage. Regulatory overreach (esp from… https://t.co/hpkqNf7Y99 — Brad Garlinghouse (@bgarlinghouse) December 18, 2023 You might also like: Ripple vs. SEC On the same day, Ripple CEO Brad Garlinghouse voiced his concerns about regulatory overreach in the country on X. He...

The French developer of the Mutant Ape Planet NFT collection faces up to five years in prison after pleading guilty to wire fraud charges. The creator of the Mutant Ape Planet nonfungible token (NFT) collection — a knock-off of Yuga Labs’ Mutant Ape Yacht Club project — has pleaded guilty to conspiracy to commit wire fraud in a New York federal court. In a Nov. 14 statement, the U.S. Attorney’s Office for the Eastern District of New York said French national Aurelien Michel pleaded guilty to executing a “rug pull” and admitted to defrauding investors out of $3 million in connection with the fraudulent Mutant Ape Planet NFTs. Nonfungible Token (NFT) Developer Pleads Guilty to an International Scheme to Defraud NFT Purchasers Aurelien Michel Conspired to Steal From Purchasers of “Mutant Ape Planet” NFTs Through False Promises and Misrepresentations@HSINewYork @IRSCI_NY https://t.co/K3CzIb8dQD — US Attorney EDNY (@EDNYnews) November 14, 2023 According to Department of Justice (D...

According to official data available publicly, the state of Maine currently holds over $328 million in unclaimed property. A report issued by the Office of the Maine State Treasurer highlighted the U.S. state’s interest in officially managing the abandoned and recovered crypto assets. The program evaluation report of Maine uncovered the state ’s lack of preparedness when it comes to handling crypto currencies. It read: “Our office does not currently handle cryptocurrency, but programs like Unclaimed Property may need to start addressing the situation of abandoned cryptocurrency accounts.” According to official data, the state of Maine currently holds over $328 million in unclaimed property. The website requires the name, address and property ID information of claimants searching for an unclaimed property. Form for searching unclaimed property in the U.S. state of Maine. Source: maine.gov  The report also uncovered the state treasurer’s interest in implementing reforms for emerging i...

Fortress holds a Nevada Trust license for asset custody. Ripple holds more than 30 licenses across the United States. Financial technology firm Ripple is expanding its portfolio of regulatory license s in the United States with the acquisition of Fortress Trust, according to an announcement on Sep. 8.  Fortress Trust provides regulatory and technology infrastructure for blockchain organizations. The company holds a Nevada Trust license that allows it to custody financial assets. The acquisition is in addition to the more than 30 license s Ripple holds across the country as a money transmitter, along with a BitLicense in the state of New York, dedicated to virtual currencies businesses. “Licenses are a powerful enabler to build and deliver best-in-class customer experiences for enterprises,” said Monica Long, president at Ripple. According to Ripple's announcement, the technology and licensing held by Fortress Trust complements its business and product roadmap. Ripple first inves...

21Shares & Cathie Wood Launch Bitcoin ETF According to a Bloomberg report, a previously filed ETF called “ARK 21Shares Bitcoin” (ARKB) that mirrors Bitcoin’s price as determined by the S&P Bitcoin Index is being brought back to life by 21Shares. The application comes at a time when there is widespread opposition to such funds from the US regulatory community. Both of 21Shares’ applications for the product, the first one in 2021 and the second one in May of this year, were among the dozens of applications that were denied by the United States Securities and Exchange Commission. advertisement Read More: Binance Hits Snag As New China-Link Emerges; Are US Customers In Trouble? According to Hany Rashwan, the chief executive officer & co-founder of 21Shares, the distinctive selling point of their Bitcoin ETF is of the utmost importance given to “investor protection through and through.” While speaking about the new part...

Also Read: Biden Administration Under Pressure To Implement Crypto Rules: WSJ advertisement Several asset managers including Blackrock, Citadel, Valkyrie and Fidelity are vying for the first ever spot Bitcoin approval while Grayscale is fighting it out in the court against the SEC for conversion of Grayscale Bitcoin Trust (GBTC) into a spot ETF. This makes it interesting as to which application would first be given the nod. Blackrock Favorite To Get ETF Approval First? The analysts cited the recent comment by SEC Chair on the significance of collective decision of all the agency commissioners as a reason for increased optimism on ETF approval. Other reasons include the SEC’s nod to trading of Bitcoin but not altcoins and the Blackrock filing. Meanwhile, John Deaton, the lawyer representing XRP token holders in the Ripple Vs SEC lawsuit, agreed with the analyst prediction that a Grayscale win in the GBTC case was coming. “Fairly applying the...

The Heartland Tri-State Bank is bankrupt but the Federal Deposit Insurance Corporation (FDIC) has already stepped in to protect customer interests, reports on July 29 show.  This bankruptcy marks another bank failure in weeks following the collapse of First Republic in early May. You might also like: FDIC chair takes responsibility for Signature Bank’s collapse, also cites crypto According to reports, the FDIC has taken on the responsibility of protecting customer deposits by assuming all liabilities of Heartland Tri-State Bank.  A purchase and assumption agreement was also made between the FDIC and Dream First Bank of Syracuse, Kansas, to ensure a seamless transition. As a result, all four Heartland Tri-State Bank branches will reopen on Monday under the Dream First Bank name. The turbulence in the banking sector, including the closures of renowned institutions like First Republic, Silicon Valley Bank, and Signature Bank early this year, has spurred lawmakers into a...

the GAO highlighted blockchain’s ability to streamline and improve annual reporting, facilitating safe loans and monitoring business development progress among others. The United States Government Accountability Office (GAO) found that blockchain technology can help facilitate oversight of various programs run by the Small Business Administration (SBA). The GAO explored the potential use of blockchain in SBA programs , which provides support to entrepreneurs and small business es. In its report, the GAO highlighted blockchain ’s ability to streamline and improve annual reporting, facilitating safe loans and monitoring business development progress among others. Small Business Administration: Exploring Potential Use of Blockchain https://t.co/rJ4e8OTsc8 — U.S. GAO (@USGAO) July 11, 2023 While the SBA has not considered using blockchain, experts cited in GAO’s study believe that blockchain can help the federal agency overcome numerous challenges it faces today: “These include ...

Also Read: Biggest BLUR Airdrop Whale Starts Selling, Potential Dump Ahead? advertisement Musk had already disrupted the electric cars space with Tesla and on path to make similar impact in other industries like space and social media. Yet, he had been a pure business leader all through and never a political figure. However, he would face a major hurdle when it comes to running for President, but there is a solution to it, according to Balaji Srinivasan, the former CTO of crypto exchange Coinbase. What Could Stand In Way Of Elon Musk Running For President Musk’s place of birth is not the United States and the existing laws do not allow naturalized immigrants to become president. Hence, Srinivasan suggests that Musk should run for President while bringing in a constitutional amendment to allow naturalized immigrants to become president. Given the massive popularity he enjoys across the country, the amendment could gain significant support. Overall, El...

Also Read: Terra Classic Biggest v2.1.1 Parity Upgrade Goes Live, LUNC Price Rally 8% advertisement Bitcoin Price Reaction To Fed Decision The Bitcoin price maintained sideways momentum in its initial reaction to the rate hike pause. However, the hints of possible rate hikes later in the year may result in a pump and dump scenario for Bitcoin . Earlier, CoinGape reported that traders will be keenly looking at the Fed’s message around possibility of rate hikes in the next meeting in FOMC. It was said that the market price movements could be decided by how the US central bank forecasts about its upcoming decisions. However, a majority of the US Fed officials see possibility of rate cuts in 2024. Meanwhile, the S&P 500 Index took a sharp fall of 0.45% following the FOMC decision, whereas the Nasdaq Composite Index fell 0.52%. Also Read: Binance Looks To Deregister As Crypto Service Provider In Cyprus Recommended Articles ...