irracig2

@irracig2

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Went hiking this morning. The mountain was misty at first, but halfway up, the fog gradually lifted.

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Other US firms have also begun ramping up AI expansion. Microsoft said in September that it was establishing two AI centers in Abu Dhabi, which was among the significant AI investments throughout 2024.

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The Central American country’s latest purchase takes its total Bitcoin stash to 6,088 Bitcoin, worth $560.7 million at current prices.

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A new audited proof-of-reserve report will be published very soon to show Bybit’s client assets are back at a 1:1 ratio through a Merkle tree, Zhou said in a Feb. 24 X post.

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Bitcoin’s price action is raising concerns of possible market manipulation as the cryptocurrency continues trading in a tight range despite billions of dollars in institutional inflows.

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Today in crypto, Bitcoin’s price action is raising concerns of possible market manipulation, according to Samson Mow, the US Senate has confirmed Howard Lutnick as commerce secretary, and FTX initiated its first round of creditor repayments and set May 30 as the next payment date, with an April 11 deadline for claim verification.

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At the time, the Treasury Department said that Binance would have to ensure significant compliance undertakings, including “Binance’s complete exit from the United States.”

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In November 2023, Binance was charged with violating Anti-Money Laundering laws and settled to pay one of the most significant criminal fines in history worth $4.3 billion.

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The SEC sued Kraken in November 2023, claiming the crypto exchange illegally operated as a securities exchange without first registering.

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“The SEC would have to show that any ordinary entity in Kraken’s position would understand that the Howey test, as applied to the secondary market transactions on Kraken’s platform, establishes that those transactions are investment contracts,” he said.

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Judge Orrick ruled that the “fair notice” defense is still in play, as Kraken had “plausibly alleged” that the SEC didn’t give the exchange fair notice that it violated the law — which also could violate due process.

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“Cryptocurrency is a growing financial instrument, but it has not risen to a level of economic import that is reasonably comparable to the American energy market, or billions of dollars of outstanding student loan debt,” he added.

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In his order, Judge Orrick said cases implicating the major questions doctrine “have the potential to impose massive influence over the American economy.”

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The major questions doctrine says that government agencies can’t use powers that Congress hasn’t specifically delegated to them. Other crypto companies sued by the SEC, including Coinbase, Ripple and Binance, have cited the doctrine to argue that Congress hasn’t given the regulator authority over crypto.

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Judge Orrick said that the SEC wasn’t asserting a “highly consequential power beyond what Congress could reasonably be understood to have granted it.”

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Judge William Orrick said in a Jan. 24 order that he axed Kraken’s “major questions doctrine defense,” one of the three defenses the SEC petitioned to have thrown out in its case against the exchange, which accuses it of offering unregistered securities.

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The US Securities and Exchange Commission has partially won its bid to throw out Kraken’s defenses, with a California federal judge nixing the exchange’s argument that Congress hadn’t given the regulator power over crypto.

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Bitpanda is the second CASP to secure BaFin’s MiCA license after Boerse Stuttgart Digital Custody, which received the license on Jan. 17. Boerse Stuttgart Digital Custody is a subsidiary of Boerse Stuttgart Group, one of the largest exchange groups in Europe.

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@irracig2 Warren has asked that Bessent be prepared to discuss these questions at his confirmation hearing on Jan. 16.

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Under current regulations, US crypto exchanges, wallet providers and other service providers must comply with certain BSA requirements if they are engaged in activities like trading, transferring, or storing digital assets.

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