Gifto (old)(GTO)

Georgetown Law professor Christopher Brummer leads an annual event on emerging financial technology in Washington that became a top forum for crypto issues in recent years. Now he's joining the sector, founding Bluprynt to help the industry with its regulatory disclosures as rules begin to emerge around the world.

The crypto industry is throwing its weight around in Washington in hopes of influencing the upcoming U.S. elections, spending an unprecedented amount of money to get crypto-friendly candidates elected and educate lawmakers – all in hopes of finally getting a friendly regulatory framework for crypto established.

The Lummis-Gillibrand stablecoin bill subordinates state regulation to federal control, giving Washington too much power as to which entities can issue these important digital assets, say Jack Solowey and Jennifer J. Schulp at the Cato Institute.

More than 160 of Changpeng “CZ” Zhao’s loved ones, friends and colleagues have written to a Washington judge ahead of the Binance founder and former CEO’s sentencing tomorrow, asking for leniency and painting a picture of Zhao as a devoted father and friend, and a “geeky” tech nerd who shuns luxury purchases despite his immense personal wealth.

Shomari Figures, a Washington insider with a lengthy progressive resume, didn't pull in the most money in direct contributions as he sought one of Alabama's seats in the U.S. House of Representatives. Still, the crypto-friendly candidate dominated the crowded field of fellow Democrats and then won this week's Democratic runoff with 61% of the vote.

Roman Sterlingov, the founder of long-running cryptocurrency mixer Bitcoin Fog, was convicted by a federal jury in Washington on Tuesday of facilitating the laundering of over 1.2 million bitcoins – worth about $860 million at today’s prices – tied to darknet marketplaces.

A leading crypto industry political operation, Fairshake, is trying to ensure that the U.S. Senate doesn't get a twin for its chief Washington antagonist Sen. Elizabeth Warren (D-Mass.) by trying to cut the legs from under U.S. Rep. Katie Porter (D-Calif.) in the 11th hour of her state's primary-election battle.

Speaking to CoinDesk TV, Lummis says she is hopeful a stablecoin bill could move forward in the first half of 2024, before elections increase political pressures in Washington.

[PRESS RELEASE – Singapore, Singapore, January 30th, 2024] Decentralized derivative trading platform BBO Exchange (BBOX) has announced the successful completion of its pre-seed funding round. Co-led by prolific early-stage venture funds Hashed and Arrington Capital, the round raised $2.7 million and attracted participation from several major ecosystem players including Consensys, CMS Holdings, Flow Traders, Manifold […]

[PRESS RELEASE – Redmond, Washington, United States, December 18th, 2023] Metagood, a blockchain technology and digital assets company, announced the successful completion of a $5 million series seed funding round aimed at advancing its Osura marketplace, focused on art within the Bitcoin ecosystem. “Osura is embarking on a groundbreaking collaboration with artists to immortalize their creations on Bitcoin, […]

I poked my head out of the Sam Bankman-Fried trial just long enough for my entire panel of House lawmakers at CoinDesk's policy event in Washington, D.C. to cancel, leading to a very impromptu session instead. Unfortunately that's not enough time to really dig into any of the things that's happened over the past month so here's a brief list of things I missed instead.

Adelle Nazarian and the American Blockchain PAC are in Washington, D.C. fighting for your right to buy and HODL cryp.

CoinDesk’s “State of Crypto” Week looks at the prospects for digital assets legislation and regulation in Washington D.C.

Coinbase and a group of crypto entrepreneurs went to Washington, D.C. to convince lawmakers to provide regulatory clarity for the industry.

The SEC claims that Binance has been uncooperative, despite agreeing to a consent order on discovery in the regulator's case against it.

The majority of the tech leaders in attendance agreed that AI needs to be regulated with Elon Musk calling the meeting a game changer for civilization.

Stronghold spokesperson Naomi Harrington supposedly said the crypto miner has already secured a permission to test the tire-derived power.

Two Tornado Cash co-founders have been charged with conspiracy to commit money laundering and sanctions violations. On Wednesday, the United States Attorney’s Office announced in a press release the unsealing of an indictment charging Roman Storm and Roman Semenov with conspiracy to commit money laundering, sanctions violations and conspiracy to operate an unlicensed money-transmitting business. The charges against two of Tornado Cash’s co-founders arise from their alleged creation, operation, and promotion of the crypto mixer. According to the press release, Tornado Cash facilitated over $1 billion in money laundering transactions and laundered hundreds of millions from the North Korean cybercrime organization, the Lazarus Group. Strom and Semenov Knew They Were Aiding Money Laundering US Attorney Damian Williams said: “As alleged, Tornado Cash was an infamous cryptocurrency mixer that laundered more than $1 billion in criminal proceeds and violated U.S. sanctions. Roman Storm and Roman Semenov allegedly operated Tornado Cash and knowingly facilitated this money laundering. While publicly claiming to offer a technically sophisticated privacy service, Storm and Semenov in fact knew that they were helping hackers and fraudsters conceal the fruits of their crimes. Today’s indictment is a reminder that money laundering through cryptocurrency transactions violates the law, and those who engage in such laundering will face prosecution.” In the announcement, the US Attorney’s Office said Roman Storm was arrested on Wednesday in the State of Washington, but Roman Semenov remains at large. The Wall Street Journal reports, Tornado’s alleged third co-founder, Alexey Pertsev, was arrested in the Netherlands in August on money laundering charges. Pertsev is under house arrest in the Netherlands as he awaits trial. CNBC quotes Brian Klein, Roman Strom’s lawyer, who said: “We are incredibly disappointed that the prosecutors chose to charge Mr. Storm.” Klein added they believe prosecutors “did so based on a novel legal theory with dangerous implications for all software developers.” Storm’s lawyer further said: “Mr. Storm has been cooperating with the prosecutors’ investigation since last year and disputes that he engaged in any criminal conduct. There is a lot more to this story that will come out at trial.” On Wednesday, the Office of Foreign Asset Control (OFAC) also sanctioned Roman Semenov. The OFAC banned Americans from using the cryptocurrency mixer in August 2022. Wednesday’s indictment was a joint effort by the Federal Bureau of Investigation (FBI), the Justice Department and the Internal Revenue Service’s Criminal Investigation unit. Attorney General Merrick B. Garland commented: “These charges should serve as yet another warning to those who think they can turn to cryptocurrency to conceal their crimes and hide their identities, including cryptocurrency mixers: it does not matter how sophisticated your scheme is or how many attempts you have made to anonymize yourself, the Justice Department will find you and hold you accountable for your crimes.” Christopher A. Wray, Director of the FBI, said: “Today’s announcement should remind criminal organizations everywhere in the world that they are neither untraceable nor anonymous. You can’t hide from us behind a keyboard — whether you’re a hacker or facilitator. Those charged today engaged in a conspiracy to launder money for cybercriminals, including for a North Korean cybercrime organization seeking to evade sanctions. As we have with this operation, the FBI is going to keep dismantling the infrastructure used by cyber criminals to commit and profit from their crimes, and holding anyone who assists those criminals accountable.” US Court Dismisses Appeal to Lift Sanctions on Tornado US District Judge Robert Pitman dismissed an appeal filed by Tornado Cash users to lift the sanctions imposed on the crypto mixer. Judge Pitman agreed with the government and Treasury Department on all of its claims and granted a summary judgement in the case. The court filing said: “The Court finds that Tornado Cash is an association within the ordinary meaning of the term and is, therefore, an entity that may be designated per OFAC regulations.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Two Tornado Cash co-founders have been charged with conspiracy to commit money laundering and sanctions violations. On Wednesday, the United States Attorney’s Office announced in a press release the unsealing of an indictment charging Roman Storm and Roman Semenov with conspiracy to commit money laundering, sanctions violations and conspiracy to operate an unlicensed money-transmitting business. The charges against two of Tornado Cash’s co-founders arise from their alleged creation, operation, and promotion of the crypto mixer. According to the press release, Tornado Cash facilitated over $1 billion in money laundering transactions and laundered hundreds of millions from the North Korean cybercrime organization, the Lazarus Group. Strom and Semenov Knew They Were Aiding Money Laundering US Attorney Damian Williams said: “As alleged, Tornado Cash was an infamous cryptocurrency mixer that laundered more than $1 billion in criminal proceeds and violated U.S. sanctions. Roman Storm and Roman Semenov allegedly operated Tornado Cash and knowingly facilitated this money laundering. While publicly claiming to offer a technically sophisticated privacy service, Storm and Semenov in fact knew that they were helping hackers and fraudsters conceal the fruits of their crimes. Today’s indictment is a reminder that money laundering through cryptocurrency transactions violates the law, and those who engage in such laundering will face prosecution.” In the announcement, the US Attorney’s Office said Roman Storm was arrested on Wednesday in the State of Washington, but Roman Semenov remains at large. The Wall Street Journal reports, Tornado’s alleged third co-founder, Alexey Pertsev, was arrested in the Netherlands in August on money laundering charges. Pertsev is under house arrest in the Netherlands as he awaits trial. CNBC quotes Brian Klein, Roman Strom’s lawyer, who said: “We are incredibly disappointed that the prosecutors chose to charge Mr. Storm.” Klein added they believe prosecutors “did so based on a novel legal theory with dangerous implications for all software developers.” Storm’s lawyer further said: “Mr. Storm has been cooperating with the prosecutors’ investigation since last year and disputes that he engaged in any criminal conduct. There is a lot more to this story that will come out at trial.” On Wednesday, the Office of Foreign Asset Control (OFAC) also sanctioned Roman Semenov. The OFAC banned Americans from using the cryptocurrency mixer in August 2022. Wednesday’s indictment was a joint effort by the Federal Bureau of Investigation (FBI), the Justice Department and the Internal Revenue Service’s Criminal Investigation unit. Attorney General Merrick B. Garland commented: “These charges should serve as yet another warning to those who think they can turn to cryptocurrency to conceal their crimes and hide their identities, including cryptocurrency mixers: it does not matter how sophisticated your scheme is or how many attempts you have made to anonymize yourself, the Justice Department will find you and hold you accountable for your crimes.” Christopher A. Wray, Director of the FBI, said: “Today’s announcement should remind criminal organizations everywhere in the world that they are neither untraceable nor anonymous. You can’t hide from us behind a keyboard — whether you’re a hacker or facilitator. Those charged today engaged in a conspiracy to launder money for cybercriminals, including for a North Korean cybercrime organization seeking to evade sanctions. As we have with this operation, the FBI is going to keep dismantling the infrastructure used by cyber criminals to commit and profit from their crimes, and holding anyone who assists those criminals accountable.” US Court Dismisses Appeal to Lift Sanctions on Tornado US District Judge Robert Pitman dismissed an appeal filed by Tornado Cash users to lift the sanctions imposed on the crypto mixer. Judge Pitman agreed with the government and Treasury Department on all of its claims and granted a summary judgement in the case. The court filing said: “The Court finds that Tornado Cash is an association within the ordinary meaning of the term and is, therefore, an entity that may be designated per OFAC regulations.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Moonstone Bank, which was since renamed Farmington State Bank, received roughly $11.5 from FTX’s sister firm Alameda Research through its holding company in 2022.

Vitalik Buterin, co-founder of Ethereum, provided an analytical dive into X's Community Notes tool via a post on his personal website. Notably, Buterin lauded the tool, formerly known as Twitter's Birdwatch, for aligning closely with the ethos of "crypto values" in mainstream contexts. Launched as Birdwatch in the U.S. in October 2022, Community Notes was conceptualized as a feature that would empower users to classify tweets based on their helpfulness and context. This was introduced prior to Elon Musk's acquisition of the platform. Buterin's assessment illuminated that the tool's core strength lies in its open-source algorithm, ensuring decisions about which notes are displayed are transparent and unbiased. He opined that the system is “the closest thing to an instantiation of ‘crypto values’ that we have seen in the mainstream world.” While emphasizing its merits, Buterin also touched upon certain imperfections of the algorithm, noting, "It’s not perfect, but it’s surprisingly close to satisfying the ideal of credible neutrality." Additionally, he highlighted the tool's capability in providing context to potentially misleading images used in news previews and addressing misinformation related to COVID-19. Going deeper into the mechanics, Buterin elaborated on how the algorithm avoids simplistically averaging out people's votes to gauge a comment's utility. He further noted its efficiency in detecting stark political differences in content, reinforcing its neutrality. Musk's Approach and Buterin's Observations Elon Musk's role in steering X's strategy since acquiring Twitter has been under scrutiny. Vitalik Buterin, while appreciating the algorithm's robustness, speculated that Musk might have directed the removal of certain Community Notes that could be perceived as contrary to his business alignments, specifically those critiques of the Chinese government. Despite this conjecture and comments on "highly contentious actions" post-Musk's takeover, Musk acknowledged Buterin's wrrite-up as a "great analysis". This commendation occurs amidst a backdrop of various discussions surrounding Musk's approach to free speech, exemplified by his self-proclaimed stance as a "free speech absolutist." There have been allegations, as per a Washington Post report, suggesting Musk’s potential involvement in introducing a five-second delay for links to specific news outlets, including The New York Times. In a somewhat tangential twist, Buterin's analysis was published at a time when Musk was reportedly involved in a digital altercation with Meta CEO Mark Zuckerberg, with discussions hinting at a potential mixed martial arts face-off between the two tech magnates. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.This report strives for a neutral and objective stance, drawing from the available data and insights. It is recommended to approach any speculation with caution and discernment.

Vitalik Buterin, co-founder of Ethereum, provided an analytical dive into X's Community Notes tool via a post on his personal website. Notably, Buterin lauded the tool, formerly known as Twitter's Birdwatch, for aligning closely with the ethos of "crypto values" in mainstream contexts. Launched as Birdwatch in the U.S. in October 2022, Community Notes was conceptualized as a feature that would empower users to classify tweets based on their helpfulness and context. This was introduced prior to Elon Musk's acquisition of the platform. Buterin's assessment illuminated that the tool's core strength lies in its open-source algorithm, ensuring decisions about which notes are displayed are transparent and unbiased. He opined that the system is “the closest thing to an instantiation of ‘crypto values’ that we have seen in the mainstream world.” While emphasizing its merits, Buterin also touched upon certain imperfections of the algorithm, noting, "It’s not perfect, but it’s surprisingly close to satisfying the ideal of credible neutrality." Additionally, he highlighted the tool's capability in providing context to potentially misleading images used in news previews and addressing misinformation related to COVID-19. Going deeper into the mechanics, Buterin elaborated on how the algorithm avoids simplistically averaging out people's votes to gauge a comment's utility. He further noted its efficiency in detecting stark political differences in content, reinforcing its neutrality. Musk's Approach and Buterin's Observations Elon Musk's role in steering X's strategy since acquiring Twitter has been under scrutiny. Vitalik Buterin, while appreciating the algorithm's robustness, speculated that Musk might have directed the removal of certain Community Notes that could be perceived as contrary to his business alignments, specifically those critiques of the Chinese government. Despite this conjecture and comments on "highly contentious actions" post-Musk's takeover, Musk acknowledged Buterin's wrrite-up as a "great analysis". This commendation occurs amidst a backdrop of various discussions surrounding Musk's approach to free speech, exemplified by his self-proclaimed stance as a "free speech absolutist." There have been allegations, as per a Washington Post report, suggesting Musk’s potential involvement in introducing a five-second delay for links to specific news outlets, including The New York Times. In a somewhat tangential twist, Buterin's analysis was published at a time when Musk was reportedly involved in a digital altercation with Meta CEO Mark Zuckerberg, with discussions hinting at a potential mixed martial arts face-off between the two tech magnates. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.This report strives for a neutral and objective stance, drawing from the available data and insights. It is recommended to approach any speculation with caution and discernment.

The crypto mining industry is getting a dedicated lobby group aimed at opening up discussions with lawmakers in Washington D.C.

Support for crypto among United States politicians and voters appears to be crossing party lines with bipartisanship agreements.