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U.S. Presidential contender Robert F. Kennedy Jr. has voiced his shock and concern over the U.S. government’s decision to withdraw six charges against Sam Bankman-Fried, the embattled founder of crypto exchange FTX. Presidential hopeful Kennedy Jr. took to X to share his views on the development, highlighting that charges against Bankman-Fried for allegedly donating $100 million in stolen customer funds to various politicians have been dropped. He emphasized the lack of public surprise at this decision as indicative of a deeper problem of normalized corruption within the U.S. government. No one is even surprised. THAT is a bigger problem than the fraud itself. It shows how normalized corruption has become. https://t.co/g9QrScuCJx — Robert F. Kennedy Jr (@RobertKennedyJr) December 31, 2023 Earlier last year, crypto.news reported on the U.S. government’s campaign finance charges against Bankman-Fried, alleging that he directed two former FTX executives to chan...

Some believe that hybrid blockchains with both private and public aspects can solve AI’s black-box problem. Artificial intelligence (AI) and blockchain are emerging digital technologies that have captured the public imagination but also raised serious concerns. So it bears asking: Can AI and blockchain be integrated in a way that benefits humanity? There are reasons to think so. As far back as 2016, Vitalik Buterin wrote that both the crypto economics and AI safety communities were “trying to tackle what is fundamentally the same problem” of how to regulate complex and smart systems with “unpredictable emergent properties.” Both rely for control on essentially “dumb” systems “whose properties once created are inflexible,” after all. Once a smart contract is implemented, it can’t be changed, for instance. The two communities “should listen to each other more,” he concluded. In the past year, with the emergence of ChatGPT and other generative AI tools, worries are growing that AI may be...

Custodia Bank’s launch of Bitcoin custody follows a series of regulatory challenges the firm faced earlier this year. Custodia Bank, a cryptocurrency-friendly bank founded by Bitcoin (BTC) advocate Caitlin Long, has launch ed its Bitcoin custody platform . The firm took to X (formerly Twitter) on Nov. 7 to announce the launch of Custodia Bank’s Bitcoin custody service targeting businesses like fiduciaries, investment advisers, fund managers and corporate treasurers. The launch comes soon after Custodia Bank earned approval from the Wyoming Division of Banking to go live with its Bitcoin custody service, the announcement notes. Announcing the news, Custodia Bank emphasized that the platform is a non-lending bank built by Bitcoiners and offers segregated custody accounts on its “custom-built Bitcoin custody platform .” The statement said that Custodia Bank offers integrated Bitcoin custody and U.S. dollar services on one platform, which is designed to simplify user operations and re...

Eleanor Terrett, a Fox Business journalist, shared a post on X reminding the public that the U.S. Securities and Exchange Commission (SEC) has until midnight to appeal the Grayscale bid for a spot Bitcoin ETF. If they don’t, then in one week, the case will be closed, and Grayscale can move forward in the approval process. Getting the ball rolling Today, Oct. 13, is the day the SEC must make a decision in response to the D.C. Circuit Court of Appeals’ ruling. Either the regulatory body must file an appeal with the United States Supreme Court, formally petitioning the Appeals Court to reconsider its judgment, or abiding by the court’s directive issued in August. This directive stipulates a comprehensive assessment of Grayscale’s request to transform its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin exchange-traded fund (ETF). NEW: The @SECGov has until midnight tonight to appeal the @Grayscale decision. If they don’t, then in seven days from now the case will be c...

Bitcoin briefly heads back down to $27,000 thanks to unexpected non-farm payrolls numbers, with BTC price staging a strong recovery. Bitcoin (BTC) saw a snap retest of $27,000 around the Oct. 6 Wall Street open as wildcard United States employment data rattled markets. BTC/USD 1-hour chart. Source: TradingView Analysis: Jobs data "not what Fed wanted to see" Data from Cointelegraph Markets Pro and TradingView followed BTC price action as the largest cryptocurrency lost 2.1% in a single hourly candle. A subsequent rebound saw bulls recover those losses, with $27,700 — the area of interest from before the data release — now back in focus. The volatility came thanks to U.S. non-farm payrolls (NFP) jumping to almost double the number expected for September — 336,000 versus 170,000, respectively. Demonstrating the labor market’s ongoing resilience to the Federal Reserve's counterinflation measures in the form of interest rate hikes, the implications of the September result w...

From accusing the SEC of suppressing Bitcoin to suggesting alternatives, the community showed varied responses to Grayscale’s legal challenge against the SEC. As Grayscale’s application to convert the Grayscale Bitcoin Trust (GBTC) into a Bitcoin (BTC) exchange-traded fund (ETF) got denied, the firm launched a legal challenge against the United States Securities and Exchanges Commission (SEC). Following these events, the community responded with various reactions, from accusing the SEC of price manipulation to suggesting different solutions.  ThatsMRcurmudgeon2u, a Redditor who introduced himself as a securities lawyer also weighed in on the matter. According to the Reddit user, many anticipated the lawsuit as SEC chair Gary Gensler as they made it clear that they want exchanges to register with the SEC. The Redditor also accused the SEC of “holding GBTC hostage.” Lawyer Jake Chervinsky tweeted that the ETF denial is "deeply disappointing," and it defies federal law and co...

Also Read: SOL Price Prediction: Bulls Poised For New Rally, Solana Strengthens Technical Outlook advertisement Earlier, CoinGape reported that JP Morgan analysts believe the U.S. Securities and Exchange Commission (SEC) will be compelled to approve the motion for approving the Grayscale Bitcoin ETF into a spot ETF. However, it remains to be seen which company among the likes of Blackrock, Ark Invest, Fidelity Bitwise will grab the filing for the ETF. Fresh Wave Of Bitcoin Investment Crypto community insiders believe that an ETF approval could bring in a fresh wave of funds into the digital assets market. Lark Davis, a Bitcoin investor, said it is estimated that anywhere between $20 to $30 billion in cash could be invested in Bitcoin, as and when the ETF is approved. For a perspective, this amount could be worth about 50% of all the BTC existing in the crypto exchanges currently. “Estimates are that a spot Bitcoin ETF would bring 20-30 billion of fresh cas...

Also Read: XRP Lawsuit: Vitalik Involved In Process Of Hinman’s Infamous ETH Speech; Reveals Docs advertisement In this context, it will be interesting to see how Judge Analisa Torres, who is overseeing the Ripple Vs SEC lawsuit, will react to the Hinman documents. The part about Ethereum not being a security may be closely looked at. Ripple CEO: SEC May Have Bluffed All Through Considering the SEC’s enforcement actions on crypto businesses despite lack of regulatory clarity, the agency, according to Ripple CEO Brad Garlinghouse might have bluffed about its calls to come and register all through. He said the agency’s open invitations to come forward and register crypto tokens may have been a lie. “Seeing the depth to which the SEC has essentially weaponized the lack of regulatory clarity through enforcement actions since this speech was given – it’s no surprise that we can call bluff on their claims to “just come...

Also Read: Terra Luna Classic Validator To Fund USTC Repeg Team As Community Rejects Proposal advertisement What Is Solana Pay? Solana Pay is a decentralized payments protocol built by Solana Labs. With this, millions of businesses will have it as an approved app integration on Shopify. The app is built for instant transactions and near-zero gas fees. This partnership enables real time payments through blockchain without any costs for millions of merchants. With the blockchain based payments, the merchants would have the advantage of having ability to handle token based rewards and seamless across countries. How Much Cost Will Shopify Users Save Patrick Hansen, the Director of European Union’s Strategy and Policy at Circle, said users would be able to save a great deal in average cost per transaction if done using Solana Pay and USDC. He revealed that the USDC transactions would cost a meagre $0.00025 per order, as against the 1.5-2.5% in credit car...

Also Read: Gemini Cofounder Slams Gary Gensler: “America Deserves Better” advertisement While Shiba Inu (SHIB) is nearing the upcoming Shibarium launch, Dogecoin (DOGE) price has been on the rise recently after Elon Musk broke silence over the speculation of an X coin for payments on the social media platform. Earlier, CoinGape reported that crypto exchange Binance announced plans to launch Dogecoin weekly options in Tether (USDT) pair. Bitcoin Decoupling: What Next According to Santiment data, Dogecoin, Shiba Inu, ApeCoin and PEPE have temporarily decoupled from not just Bitcoin but also the altcoin category, earlier on Saturday, August 12, 2023. While the price rallies in these cryptocurrencies could be independent from each other, there could slow and steady repercussions on Bitcoin trading as this could be a sign of deviation to the popular altcoins. “There have been notable price ascensions from popular memecoins. $DOGE, $SHIB, $...

Also Read: Microsoft Partners With Aptos Labs For AI And Web3 Fusion, APT Token Spikes 18% advertisement US SEC’s Appeal May Fall Short: Attorney Analyzing the Summary Judgment by Judge Torres in the historic July 13, 2023 ruling, Deaton said there was no evidence to support the Third Howey Test, which states that “a person invests his money in a common enterprise and is led to expect profits.” He added that the US SEC would still face a hurdle when it comes to satisfying the common enterprise part. Attorney Deaton said he even offered to bet that the verdict will not be overturned. “I’m willing to bet a significant sum that she (Judge Analisa Torres) won’t be overturned.” Concerns of a possible appeal by the SEC grew when the agency’s lawyers said they intend to seek a review of the XRP ruling after Kwon cited Judge Torres’ ruling as a precedent. Recommended Articles ...