Crypto News

The SEC’s new SAB 122 policy allows banks to custody Bitcoin and crypto-assets

3 hours ago 1 min read

The SEC has introduced Staff Accounting Bulletin (SAB) No. 122, which replaces the previous SAB 121 policy. This change allows banks and financial institutions to offer cryptocurrency services more easily. Under SAB 121, banks had to list customer crypto-assets as both assets and liabilities, creating compliance challenges. SAB 122 allows banks to treat risks like theft or fraud as contingent liabilities, simplifying compliance and reducing capital requirements. SEC Commissioner Hester

David Sacks calls for NFTs and meme coins to be classified as collectibles

3 hours ago 2 mins read

David Sacks, a White House advisor on crypto, is advocating for clearer regulations regarding non-fungible tokens (NFTs) and meme coins. He believes these digital assets should be classified as collectibles, similar to physical items like stamps or baseball cards, rather than as securities or commodities. In a Fox interview on January 24, Sacks highlighted the sentimental value of these assets, using the example of a Trump-themed meme coin, which people

Grayscale and CoinShares file for Litecoin, Solana, and XRP ETFs

January 25, 2025 1 min read

Grayscale Investments and CoinShares are expanding their offerings by filing for multiple crypto exchange-traded funds (ETFs). They are focusing on assets like Litecoin, Solana, and XRP to provide more regulated investment options. Grayscale has applied for ETFs that will track Litecoin and Solana. The Litecoin ETF will follow the price of LTC without requiring direct ownership, building on Grayscale’s existing Litecoin Trust. Additionally, Grayscale has sought to convert its Grayscale

Ledger co-founder was rescued after being kidnapped in France

January 24, 2025 2 mins read

David Balland, a co-founder of Ledger, a cryptocurrency company, was recently freed after being kidnapped in central France. He and his wife were taken from their home in the Cher region early Tuesday morning. The kidnappers demanded a large ransom in cryptocurrency from another Ledger co-founder. French national police and the elite GIGN unit negotiated with the assailants. Eventually, authorities located Balland and arrested several suspects. His wife was found

Vitalik Buterin warns against TRUMP and political meme coins

January 24, 2025 1 min read

Vitalik Buterin, co-founder of Ethereum, has raised concerns about political meme coins like TRUMP, highlighting their potential for scams and political corruption in the crypto space. In a recent social media post, he warned that these coins have evolved from mere entertainment to tools for political bribery and manipulation. Buterin noted that the rise of institutional acceptance in crypto has allowed malicious actors to exploit the system. He specifically criticized

Elizabeth Warren urges federal scrutiny of TRUMP and MELANIA coins

January 24, 2025 1 min read

Senator Elizabeth Warren and Representative Jake Auchincloss are urging U.S. regulators to investigate the TRUMP and MELANIA meme coins created by Donald and Melania Trump. They expressed concerns about foreign influence, market manipulation, and risks for investors associated with these digital currencies. The TRUMP coin experienced significant price fluctuations, rising from under $10 to $75 before dropping to $32.44. The MELANIA coin also showed extreme volatility, making it a risky

Ethereum’s Etherealize aims to connect blockchain with traditional finance

January 24, 2025 2 mins read

Ethereum has introduced a new initiative called Etherealize, led by Vivek Raman, to integrate traditional financial institutions into the blockchain world. This program aims to create tools that make it easier for banks and financial firms to adopt Ethereum, which is the second-largest blockchain. The initiative has the support of Ethereum co-founder Vitalik Buterin and the Ethereum Foundation. Etherealize serves as a link between traditional finance (TradFi) and blockchain technology.

Donald Trump faces scrutiny as US Rep. Connolly calls for an ethics probe into his crypto tie

January 24, 2025 2 mins read

Donald Trump’s activities in the cryptocurrency sector have raised concerns, prompting US Representative Gerald Connolly to call for an ethics investigation. The focus is on potential conflicts of interest and transparency issues linked to Trump’s financial connections, particularly with the crypto project World Liberty Financial (WLF) and the “TRUMP” meme coin. Connolly has reached out to the House Oversight and Government Reform Committee, asking for an inquiry into whether Trump’s

Crypto leaders celebrate regulatory shifts

January 23, 2025 2 mins read

The recent Crypto Inaugural Ball in Washington, D.C., marked a positive shift in the crypto industry’s sentiment. Industry leaders have faced challenges over the past four years due to unclear regulations and a lack of collaboration from the previous administration. With new pro-crypto appointments, such as David Sacks as the “crypto czar,” there is renewed optimism. The focus now is on establishing clear and lasting legislation to prevent crypto from

Virtune debuts Finland’s first crypto ETPs on Nasdaq Helsinki

January 23, 2025 2 mins read

Virtune, a Swedish-regulated crypto asset manager, has launched Finland’s first crypto exchange-traded products (ETPs) on Nasdaq Helsinki. This milestone allows Finnish investors to securely invest in cryptocurrency, denominated in euros, enhancing the region’s financial market. The introduction of crypto into Finland’s €20.5 billion ETP market is a significant development. The ETPs are fully collateralized and physically backed, with liquidity support from Flow Traders to ensure stable trading volumes and narrow

Utah introduces a bill allowing public fund investments in crypto

January 23, 2025 2 mins read

Utah has proposed a new bill, the Blockchain and Digital Innovation Amendments (H.B. 230), which could allow the state treasurer to invest public funds in digital assets such as cryptocurrencies, stablecoins, and NFTs. Introduced by State Representative Jordan Teuscher, the bill aims to create a clear framework for these investments while ensuring regulatory oversight and financial responsibility. The proposal allows for up to 10% of public funds to be invested

UAE firm CLS Global admits to wash trading on Uniswap

January 23, 2025 2 mins read

CLS Global, a financial services firm in the crypto industry, has confessed to fraudulent market manipulation through wash trading on Uniswap. The company used automated self-dealing to create fake trading volumes, misleading investors about market activity. Based in the United Arab Emirates, CLS Global will pay $428,059 in fines and asset seizures, plead guilty to market manipulation charges, and exit the U.S. crypto markets permanently. The U.S. Attorney’s Office in