We have already discussed the losses to investors following prior instances in which SEC funding was reduced. But such a focus may still undercount the losses. When securities enforcement is constrained, the impact may not be discovered until much later. For example, Bernie Madoff went undiscovered for decades, and Enron, WorldCom, and others played games with accounting that were not…
The recent market turmoil might have given gold the bragging rights of being the “store of value” while “digital gold” struggles, at least for now. Gold futures for April delivery have surpassed $3,000 an ounce for the first time ever, marking a historic milestone for the precious metal. Spot gold is consolidating just below $3,000 an ounce, up 15% year-to-date,…
Representative Byron Donalds will introduce legislation on Friday to codify an executive order that President Donald Trump signed earlier this month that establishes a strategic Bitcoin reserve and US digital asset stockpile. Passing the bill would ensure that the reserve and stockpile could not be eliminated by executive action from a future president, protecting the crypto-friendly policy that Trump embraced…
Representatives of President Trump’s family have held talks to take a financial stake in the U.S. arm of crypto exchange Binance, according to people familiar with the matter, a move that would put Trump in business with the firm that pleaded guilty in 2023 to violating anti-money-laundering requirements. At the same time, Binance’s billionaire founder, Changpeng Zhao—who served four months…
The U.S. Senate Banking Committee has advanced the crypto industry’s stablecoin regulation bill, a first major step toward getting the effort to President Donald Trump’s desk to be signed into law. With its first committee approval, the bill that would regulate U.S. stablecoin issuers at the federal level now needs passage by the overall Senate, and a similar version also…
We are constantly hearing about crypto funds being stolen from exchanges, so we’ll start with stolen funds. Last year saw $2.2bn of crypto pilfered, with state-sponsored North Korean hackers taking over 60 per cent of the total. Around half of North Korea’s hacks typically involve worker-related theft by North Korean IT workers who’ve infiltrated crypto and web3 companies. Frankly, we…