The leading cryptocurrency market maker, Wintermute, has revealed plans to expand its business to the United States amid the emergence of a more favorable environment for digital assets in the country. Wintermute’s CEO Evgeny Gaevoy disclosed the company’s plans in an interview with Bloomberg at the ongoing Consensus crypto conference in Hong Kong. Gaevoy said […]
The U.S. Bitcoin mining industry has generated over 31,000 jobs and contributed more than $4.1 billion in gross product annually. According to a report by The Perryman Group, most of the industry is concentrated in twelve states, with Texas being the largest contributor. Economic and Social Benefits The study shows that Bitcoin mining in Texas generates […]
Two Estonian citizens pleaded guilty yesterday to running a massive cryptocurrency Ponzi scheme that defrauded hundreds of thousands of investors worldwide, including in the United States. The scheme involved a fraudulent crypto-mining service called HashFlare, resulting in investor losses of over $577 million. Founders Agree to Forfeit $400M in Assets According to court documents, Sergei […]
Russian national Alexander Vinnik, previously convicted for running a multi-billion-dollar money-laundering operation through his BTC-e crypto exchange, has been released in a prisoner exchange between Russia and the United States. In return, Moscow freed American schoolteacher Marc Fogel, who had been detained on drug charges. Vinnik’s Role in BTC-e and Legal Troubles Vinnik operated the […]
A new legislative proposal in Michigan seeks to create a Bitcoin reserve as part of the state’s financial strategy. On February 13, Representatives Bryan Posthumus and Ron Robinson put forward HB 4087, a bill designed to update the state’s Management and Budget Act by incorporating Bitcoin investments. With this, Michigan now joins 19 other states […]
If state-level strategic Bitcoin reserve bills are enacted, “they could drive $23 billion in buying or 247,000 BTC,” said VanEck’s dead of digital assets research, Matthew Sigel, on Feb. 12. “This sum is independent of any pension fund allocations, likely to rise if legislators move forward,” he added before stating that the $23 billion was […]
Brian Armstrong and Tyler Winklevoss have celebrated the defanging of the Consumer Financial Protection Bureau (CFPB) following recent actions taken by the agency’s new leadership. Coinbase has reportedly been the subject of more CFPB complaints than any other exchange. CFPB Chief Orders Shutdown The agency’s newly appointed chief, Russell Vought, selected by President Donald Trump, […]
On Feb. 3, President Trump announced plans to create a US sovereign wealth fund, a national investment vehicle designed to generate and distribute assets for American citizens. Trump signed the executive order at a White House event directing Treasury Secretary Scott Bessent and Secretary of Commerce Howard Lutnick, who are both pro-crypto, to “begin a […]
A New Jersey jury has convicted a man for his role in a drug trafficking and money laundering operation that used wire transfers and cryptocurrency to move illicit funds. The scheme, which prosecutors in the case say ran for six years, involved importing and distributing fentanyl-related substances. Crypto-Fueled Drug Network The federal jury found William […]
David Sacks has introduced a new perspective on non-fungible tokens (NFTs) and meme coins, describing them as a distinct class of digital assets. In an interview with Fox Business, the AI and crypto czar spoke on the growing complexity of classifying digital assets, categorizing the two as collectibles. Digital Asset Classification “When you talk about […]