December 2023 - CryptoCurrencyWire

FridayDec 29, 2023 9:45 am

SEC Chair Issues Cryptocurrency Warning Amid Rising Anticipation of Approval of Spot BTC ETFs

U.S. Securities and Exchange Commission (SEC) chair Gary Gensler sounded a cautionary note about the state of the cryptocurrency landscape on the social media platform X last week. Gensler expressed concern over the widespread lack of compliance in the crypto space, emphasizing the detrimental impact it has on investor confidence. He highlighted the unfortunate situation where numerous individuals have suffered losses and find themselves queuing up in bankruptcy courts with limited recourse. Accompanying his X post was a video clip from a recent CNBC appearance where Gensler discussed the prevailing issue of noncompliance in the crypto industry, specifically in relation…

WednesdayDec 27, 2023 9:45 am

2023 Top Stories in Crypto Industry

The year 2023 proved to be a challenging period for the cryptocurrency sector, witnessing the reckoning of bad actors that had flourished during the 2021 boom. As Bitcoin regained strength and overall market conditions improved, the stage has been set for digital assets to potentially redefine headlines in 2024. The resilience and adaptability of the cryptocurrency ecosystem will undoubtedly be put to the test in the evolving dynamics of 2024. But before delving into the prospects of the future, here are 10 key events that unfolded in 2023. XRP not a security In a pivotal ruling, the court determined that…

FridayDec 22, 2023 10:30 am

Can Crypto Mixers Evolve to Sidestep Prosecution by U.S. Authorities?

Tornado Cash made headlines in August 2022 when the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned it, raising questions about the role of cryptocurrency mixers in ensuring financial privacy. This debate intensified as Sinbad.io, another major player, faced OFAC sanctions for facilitating illicit transactions, particularly those involving the Lazarus hacking group. While mixers offer a legitimate service by enhancing the privacy of cryptocurrency transactions, concerns arise when criminals exploit them to launder large sums, potentially jeopardizing the services' legitimate use by individuals seeking financial privacy. Contrary to the misconception that cryptocurrencies guarantee complete anonymity,…

WednesdayDec 20, 2023 10:30 am

JPMorgan Expects Ethereum to Outshine Bitcoin in 2024

Despite being apprehensive about the cryptocurrency markets in the upcoming year, JPMorgan anticipates that Ethereum will surpass Bitcoin and other digital currencies in 2024. According to JPMorgan analysts, ether is poised for a resurgence and a recapture of market share within the crypto ecosphere. The primary driving force behind the growth is the anticipated Proto-danksharding, or EIP-4844 upgrade, which is scheduled for the first half of next year. The analysts believe that Proto-danksharding will play a substantial role in improving ether’s network activity, positioning it for superior performance. Proto-danksharding is the first step toward the implementation of Danksharding, a more…

MondayDec 18, 2023 9:18 am

Blockchain Life 2024 will Gather a Record 8000 Attendees in Dubai

On April 15-16, Blockchain Life 2024 is going to prove its status as one of the main crypto events of the year bringing together over 8,000 crypto enthusiasts and thousands of international companies in the globally recognized crypto capital of Dubai. Learn more and buy a ticket: https://blockchain-life.com/asia/en/ The event unites top crypto players from Web3, Cryptocurrencies and mining industries from 120 countries. What to expect: Premium community of crypto whales and industry leaders More than 160 experts having a speech and analyzing the market from the stage More than 150 key industry companies featured at the exhibition and promising…

MondayDec 18, 2023 9:00 am

BlackRock Opens Door to Institutions to Invest in Its Bitcoin ETF

BlackRock’s proposed Bitcoin (BTC) spot ETF is undergoing a key adjustment in its mechanics, opening up possibilities for Wall Street financial institutions to play a significant role. The recent modification allows authorized participants, essential players in the ETF ecosphere, to generate new fund shares using cash, a departure from the previous restriction to crypto-only creation. This alteration holds particular significance for highly regulated American banks, which, due to current restrictions, cannot directly hold BTC. This adjustment creates an opportunity for institutions such as Goldman Sachs and JPMorgan, boasting some of the world’s largest balance sheets, to step in as APs…

FridayDec 15, 2023 10:30 am

Elizabeth Warren Reveals Crypto Bill Now Has More Senate Cosponsors

Senator Elizabeth Warren of Massachusetts, known for her vocal opposition to digital assets within the U.S. government, recently shared news that five additional senators have endorsed her legislation aimed at combating money laundering. Warren revealed on Dec. 11, 2023, that several senators, including Ben Ray Luján, Raphael Warnock, Laphonza Butler, John Hickenlooper and Chris V. Hollen, have thrown their support behind the Digital Asset Anti-Money Laundering Act, a bill she refiled in July. This further builds upon the backing received from 14 other senators. Warren stated that the legislation specifically addresses the illicit use of crypto assets for money laundering…

WednesdayDec 13, 2023 10:30 am

Why Bitcoin Is Surging Despite Crypto Industry Woes

In the backdrop of recent upheavals and debates surrounding the cryptocurrency sector, Bitcoin, the largest digital currency, is experiencing a resurgence. Its value has surged to nearly $42,000, marking a significant milestone as it crossed the $40,000 threshold for the first time in 19 months. This resurgence comes amid the sector’s uncertainties, notably since the dramatic downfall of the FTX crypto exchange last year, culminating in the conviction of its founder, Sam Bankman-Fried, on seven counts of fraud in November. Additionally, Binance, the world’s largest crypto exchange, agreed to a $4.3 billion settlement last month, acknowledging its breach of U.S.…

MondayDec 11, 2023 6:39 pm

5AM Global Kicks off International-Level Soiree, Live at Worre Studios

LAS VEGAS, NV - Today, 5AM Global unveils its upcoming event, Interstellar Soiree, as a groundbreaking in-person and virtual world tour that showcases the ongoing evolution of AI and robotics, set to transform the tech world live at Worre Studios on January 10, 2024. The upcoming Interstellar Soiree emerges as a one-day celebration, offering tech brands and pioneers access to live funding pitch sessions, tech awards, and interactive discussions, marking a pivotal moment in the evolution of AI and robotics. Hosted by SophiaVerse and sisters of the iconic Sophia the Robot: Grace and Desi, the event continues the esteemed “Future of…”…

MondayDec 11, 2023 12:00 pm

Spending on Crypto Industry Lobbying Could Reach Record Levels

The cryptocurrency sector appears poised to record a new high in federal lobbying expenditures, as crypto companies look to mend their image and promote supportive legislation, according to statistics disclosed to Reuters by the nonprofit research entity OpenSecrets. In the initial three quarters of 2023, cryptocurrency companies allocated $18.96 million toward lobbying efforts, contrasting with the $16 million expended during the corresponding period last year. This expenditure continued despite the notable collapse of the biggest cryptocurrency exchange at the time, FTX, which was among the top 10 spenders the year before. Last year organizations such as FTX spent about $22…