Elon Musk, the CTO and chairman of X, recently took to social media to make some shocking claims about the European Commission. According to Musk, the EC allegedly offered X an “illegal secret deal” to censor speech in order to avoid being fined in the EU. Musk made these claims in response to the EC’s
The recent closure of the SEC investigation into Hiro and the Stacks blockchain marks a significant milestone in the history of the Bitcoin Layer-2 network. After more than three years of scrutiny, the team is celebrating the conclusion of the investigation without any enforcement action recommended. This outcome is a testament to Hiro’s commitment to
In a recent court hearing, Judge Katherine Polk Failla expressed doubt regarding Coinbase’s efforts to subpoena SEC Chair Gary Gensler in the ongoing legal dispute between the cryptocurrency exchange and the Securities and Exchange Commission. The hearing shed light on Coinbase’s persistent attempts to acquire Gensler’s communications, including statements made before he assumed the role
Born and raised in Edo State, Nigeria, I have always been surrounded by a strong support system that has molded me into the person I am today. My family, consisting of my parents and three siblings, has been the pillar of strength in my life. Their unwavering support and guidance have been instrumental in shaping
The UK Law Commission recently published a scoping paper discussing the legal characterization of Decentralized Autonomous Organizations (DAOs) in the country. DAOs are blockchain-based communities that work towards a common goal, such as investing in startups or acquiring historical artifacts. However, the Commission highlighted the difficulties in defining DAOs, as there is a lack of
The recent decision by the US Securities and Exchange Commission (SEC) regarding exceptions for certain institutions impacted by Staff Accounting Bulletin No. 121 (SAB 121) has sparked debate within the financial industry. This move is seen as a significant development in the realm of crypto accounting compliance and has the potential to shape the future
During a recent hearing, Judge Katherine Polk Failla expressed criticism towards Coinbase for its attempts to subpoena SEC Chair Gary Gensler in the ongoing case against the firm. Failla highlighted that Coinbase’s request included Gensler’s statements prior to taking office as SEC chair in 2021. The company’s lawyer defended this request by explaining that they
The recent vote in the US House of Representatives regarding HJ Res. 109 to rescind SEC Staff Accounting Bulletin (SAB) 121 ended in a disappointing outcome. While 228 House members voted in favor of ending SAB 121, 184 voted against the resolution and 21 abstained. This majority support was still insufficient to overturn the bulletin,
In a recent development, the US Securities and Exchange Commission (SEC) has officially closed its investigation into stablecoin issuer Paxos. This decision comes after over a year of uncertainty surrounding Paxos and its role in the issuance of the Binance USD (BUSD) stablecoin. On July 11, Paxos made an announcement revealing that they had received
Recent data has revealed a significant shift in the relationship between Bitcoin and US stocks. The flagship cryptocurrency has completely detached from the Nasdaq 100 and S&P 500, with a correlation of -0.78 and -0.83, respectively. This strong negative correlation indicates that Bitcoin and these assets are now moving in opposite directions. The decline in
