News

US Treasury Secretary Scott Bessent pushes for lower interest rates

March 5, 2025 1 min read

Scott Bessent, the U.S. Treasury Secretary, wants to lower interest rates to help the American public, especially those with lower incomes. He believes that cutting rates would reduce costs for loans and boost economic growth, which has been hurt by high rates. However, he faces strong opposition from Jerome Powell, the Federal Reserve Chair, who controls interest rates. Powell is cautious about making sharp cuts and prefers a gradual approach.

Lazarus Group successfully launders $1.5B in stolen Bybit funds using THORChain

March 5, 2025 2 mins read

The Lazarus Group has successfully laundered $1.5 billion in stolen Ethereum (ETH) from the Bybit hack, converting it into Bitcoin (BTC) using the decentralized exchange (DEX) THORChain. This has sparked concerns in the crypto community, with many criticizing THORChain for allowing these transactions. In response, THORChain defended itself, stating that its decentralized and open-source nature means it does not act like a law enforcement agency to monitor transactions. Arkham Intelligence,

U.S. Congress to Ban TRUMP and MELANIA Crypto Tokens, Traders Switch to More Reliable Coins Like Web3Bay

March 5, 2025 5 mins read

The U.S. Congress is moving swiftly to introduce legislation that will ban politically affiliated cryptocurrencies, marking a decisive stance against digital assets linked to public figures. This legislation, spearheaded by Sam Liccardo, aims to prevent elected officials and their families from launching or endorsing cryptocurrencies, addressing concerns over potential conflicts of interest and market manipulation. The bill has already secured a dozen Democratic sponsors and is expected to gain bipartisan

Vietnam’s Prime Minister urges a proposal for a legal framework on digital currencies

March 5, 2025 2 mins read

Vietnam’s Prime Minister, Pham Minh Chinh, has asked for a proposal to create a legal framework for digital currencies by March. The Ministry of Finance (MOF) and the State Bank of Vietnam (SBV) will work on this proposal to manage digital assets and crypto. This step is part of a larger plan to boost national growth and economic stability. Vietnam is currently 7th in the world for cryptocurrency ownership, according

VeChain’s ICO Created Wealth—Now Qubetics ($TICS) Is Offering a Second Chance in Top Crypto Assets

March 5, 2025 5 mins read

Imagine looking back at 2017 and realizing that just a small investment in VeChain’s ICO could have multiplied exponentially. The regret of missing out on such a promising blockchain project still lingers for many early crypto enthusiasts. VeChain’s ICO, held between August 18 and August 31, 2017, allowed early adopters to buy in at a fraction of today’s value. Initially priced at just $0.0009 per token, VeChain went on to

The SEC reviews Bitwise’s Dogecoin ETF filing

March 4, 2025 1 min read

The SEC is currently reviewing Bitwise’s filing for a Dogecoin ETF. NYSE Arca submitted a 19b-4 form to seek approval for this exchange-traded fund. This follows Bitwise’s earlier S-1 submission. Coinbase Custody will manage the Dogecoin assets, while the Bank of New York Mellon will handle cash assets and administration. The proposed ETF will primarily hold Dogecoin. Its Net Asset Value (NAV) will be calculated daily using the CF Dogecoin-Dollar

The SEC introduces its Crypto Task Force

March 4, 2025 2 mins read

The US Securities and Exchange Commission (SEC) has formed a new Crypto Task Force to address regulatory challenges in the digital asset space. Commissioner Hester Peirce leads this initiative, which aims to clarify and improve crypto regulations. The task force consists of a leadership team and several Senior Advisors with expertise in legal, policy, and operational matters related to crypto. Key leaders include Richard Gabbert as Chief of Staff, Michael

Tether (USDT) appoints Simon McWilliams as its new CFO

March 4, 2025 1 min read

Tether, a major stablecoin issuer, has appointed Simon McWilliams as its new Chief Financial Officer. This move is seen as a significant step towards achieving a full audit of the company. McWilliams has over 20 years of experience in finance and auditing at large investment firms. His role will focus on enhancing Tether’s transparency and preparing for regulatory requirements. Tether stated that McWilliams’ appointment shows their commitment to completing a

Aave deploys its lending markets on the Sonic blockchain

March 4, 2025 1 min read

Aave has launched its lending markets on Sonic, a new high-performance blockchain that evolved from Fantom. This marks Aave’s first Layer 1 expansion in 2023. The decision to deploy Aave version 3 on Sonic came after a governance vote by the Aave Chan Initiative. Sonic rebranded from Fantom and launched its mainnet in December 2024. The network has a total value locked of over $700 million. It also offers a

Cardano co-founder says XRP deserves its place in the US crypto reserve

March 4, 2025 1 min read

Charles Hoskinson, co-founder of Cardano, supports President Trump’s decision to include XRP in the US crypto reserve. He believes that XRP’s utility makes it deserving of this role. Hoskinson responded to Peter Schiff, who questioned the need for an XRP reserve. Trump announced that the reserve would also include Bitcoin, Ethereum, Solana, Cardano, and other valuable cryptocurrencies. Schiff, a long-time critic of Bitcoin, expressed skepticism about the idea of a

The SEC agrees to dismiss its lawsuit against Kraken without penalties

March 4, 2025 1 min read

Kraken announced on Monday that the US SEC has agreed to dismiss its lawsuit against the crypto exchange. This dismissal is with prejudice, meaning the case is permanently closed. There are no penalties, no required changes to Kraken’s business, and no admission of wrongdoing. The SEC filed the lawsuit in November 2023. They claimed that Kraken exchange had been operating as an unregistered securities exchange for years. The SEC also

The SEC closes its investigation into Yuga Labs

March 4, 2025 1 min read

The SEC has finished its investigation into Yuga Labs. This investigation looked into whether the company’s Bored Ape Yacht Club (BAYC) NFTs and ApeCoin broke federal securities laws. The probe began in October 2022. It aimed to find out if Yuga Labs’ NFTs and ApeCoin should be considered securities under U.S. law. The SEC used the Howey Test for this. The Howey Test comes from a Supreme Court case from