24/7 Cryptocurrency News
John Deaton Calls Out Elizabeth Warren And Gary Gensler
Pro-XRP lawyer John Deaton has once again called out Senator Elizabeth Warren and Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC). Senator Warren and Gary Gensler are arguably the biggest public officials that John Deaton takes on the most for several reasons. He is always blaming the duo for the unfair regulatory war waged on crypto. However, the lawyer foresees freedom for the indutry moving on.
John Deaton and the Change In American Crypto Landscape
One of the first engagements of Deaton in the industry hinges on representing XRP holders’ in the US SEC versus Ripple lawsuit. However, his advocacy role has shifted considerably in the past few weeks. In the last election, He lost the Massachusetts Senatorial seat to Elizabeth Warren, despite Donald Trump’s victory.
Moving on from the loss, John Deaton has spotted the biggest beneficiary of the elections – the American crypto investors. He claimed that one thing the industry has clamored for since is regulatory clarity. Rather, Elizabeth Warren and Gary Gensler gave the industry the opposite.
The crypto lawyer said that for 5 years, he has heard many American enterpreneurs claim they cannot offer crypto products to Americans. Many who attempt to do this risked getting flagged in expensive lawsuit by the markets regulator. At least over the past year, the regulator has issued Wells Notices to firms like OpenSea, Uniswap and Robinhood.
This regulation by enforcement action has pushed many businesses overseas. Notably, with Donald Trump set to officially take over in January, John Deaton believes all this will end.
Bitcoin Rally And American Economic Boom
It is worth noting that the comment from John Deaton came as a response to a post from Gemini co-founder Tyler Winklevoss. With Bitcoin price soaring above $85,000, the Gemini CEO said the market is now getting a glimpse of how toxic Gary Gensler and Elizabeth Warren’s behaviors were to the industry.
The one thing this industry needed most was regulatory clarity. Instead, @ewarren & @GaryGensler gave us the opposite. For 5 years I’ve heard entrepreneurs say we just won’t offer it to American investors, forcing everything overseas. That now ends. https://t.co/BRwMWUuinf
— John E Deaton (@JohnEDeaton1) November 11, 2024
He noted that with the incoming administration, the broader market should prepare for a “supersonic American economic boom.”
While many agree with the position that the economy will grow, critics like Peter Schiff has watered down Bitcoin Reserve conversations in the market. He believes this plan will not materialize as it can ruin the US dollar. As of writing, Bitcoin price was changing hands for $86,743.43, up 6.52% in 24 hours.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
Pakistan is taking concrete steps towards regulating cryptocurrencies, with the Crypto Council drafting a new framework for digital assets. While cryptocurrency still remains illegal in the country, the Crypto Council aims to build a secure and transparent crypto ecosystem. Significantly, this crypto regulation move follows the country’s recent decision to establish a Strategic Bitcoin Reserve.
Pakistan Crypto Regulation: New Policies Take Shape
The Pakistan Crypto Council (PCC) convened a high-level meeting in Islamabad, taking significant steps towards creating a solid crypto regulatory framework for the country. The council aims to build a robust crypto framework that balances innovation with security, transparency, investor protection, and financial inclusion.
Notably, the Pakistan crypto regulation aims to promote blockchain growth, protect investors, and drive financial inclusion. As part of its crypto regulation plans, the country has established the Pakistan Digital Assets Authority (PDAA).
The meeting was led by Finance and Revenue Minister Senator Muhammad Aurangzeb. Other members included the SBP Governor, the SECP Chairperson, and law and IT ministry officials. A technical committee comprising representatives from the State Bank of Pakistan, Securities and Exchange Commission of Pakistan, and other relevant government agencies will be formed to further develop these initiatives.
“Participants also discussed various options around the establishment of an autonomous regulatory authority to oversee and regulate the digital finance and crypto ecosystem in the country,” added the ministry. The finance division posited,
It was agreed to constitute a technical committee comprising representatives from SBP (State Bank of Pakistan), SECP (Securities and Exchange Commission of Pakistan), Law Division, and IT & Telecom Division. The committee will review the draft laws and propose a robust framework and governance structure to be reviewed by the Pakistan Crypto Council in its next meeting.
Regulatory Clarity Paves the Way for Pakistan’s Bitcoin Reserve
At the Bitcoin Conference, Crypto Council Head Bilal Bin Saqib announced Pakistan’s potential plans to embrace a Bitcoin reserve. However, the plan is expected to face scrutiny from the International Monetary Fund (IMF), which could complicate its implementation. This development was covered by CoinGape and later confirmed by local news outlet Samaa.
Significantly, the establishment of clear crypto regulations could play a crucial role in aiding the country’s Bitcoin reserve plans. A well-defined framework would protect investors and ensure the initiative’s long-term sustainability. It could also help address IMF concerns and reduce potential complications.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
Ark 21Shares Bitcoin ETF (ARKB) will undergo a 3-for-1 share split, effective from June 16, in order to make funds more accessible to investors, announced 21Shares, one of the world’s largest issuers of crypto exchange traded funds (ETFs).
In a statement released on Monday, 21Shares, a fin-tech giant, claimed that their recent step to split their stocks 3-for-1 will invite a “broader base of investors thereby enhancing trading efficiency. 21Shares clarified that their decision to spit their share 3-for-1, effective June 16, will not change their total net asset value (NAV) and the shares will continue trading under the ticker symbol ARKB.
According to a report in Reuters, ARKB has gained almost 12% so far this year and nearly 27% quarter-to-date. It closed trading at $104.25 on Monday. 21Shares holds the largest suite of crypto ETPs and is one the leading provider of ETFs.
ARKB is a physically backed Bitcoin ETF offering direct exposure to Bitcoin to customers without actually holding the token.
The recent decision by 21Shares to split their ARKB stocks 3-for-1 might lure retail investors with a psychological attraction of purchasing the stocks at a lower price, however, the decision is not going to impact the net asset value held by individual share holders. According to 21Shares, lower price of their stocks would also increase trading volume on a day-to-day basis and thereby increase liquidity through retail inflows.
Another possible implication of 21Shares announcing 3-for-1 stock split is to increase the retail inflow in the Bitcoin ETF, especially after $358 million outflow was recorded in U.S. Spot Bitcoin ETFs on May 30, according to a report by JP Morgan.
How does the 3-for-1 ARKB stock split work?
21Shares has clarified that their decision to split stocks 3-for-1 will not impact their net asset value and post June 16, the price per share will be a third of its pre-split value. As ARKB closed at $104.25 on Monday, the same stock price would now drop to roughly $34.50 per share and the stockholder would now get 3 shares despite any change in total asset value and underlying Bitcoin exposure.
Vaibhav Jha
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
Robinhood has bought Bitstamp, a top crypto exchange which launched in 2011. By taking this action, the company demonstrates its desire to be a major player in the global crypto market.
Robinhood’s Bitstamp Acquisition Will Expand Its Global Reach
With offices in Luxembourg, the UK, Slovenia, Singapore and the U.S., Bitstamp is active in many countries. Due to these licenses, Robinhood can enter the EU, UK and Asian crypto markets more smoothly.
Bitstamp has a reputation for being very reliable. Traders like the platform for its stable trade orders, extensive order books and well-built systems. As a result of acquiring Bitstamp, Robinhood will be working with more institutional clients.
Until now, Robinhood focused mostly on U.S. retail customers. This acquisition allows the firm to grow globally and serve more serious crypto players.
Bitstamp’s Trusted Infrastructure and Values Will Enhance Robinhood’s Crypto Offerings
Robinhood’s General Manager of Crypto, Johann Kerbrat, said Bitstamp’s long-standing reputation and safety-first approach were key reasons behind the deal.
Kerbrat emphasized that the acquisition wasn’t just about reach. It also brings trusted infrastructure, experience, and a solid brand into Robinhood’s ecosystem. Bitstamp’s services like crypto-as-a-service, lending, and staking will now be part of Robinhood’s offerings.
JB Graftieaux, CEO of Bitstamp, believes the deal will enhance user experience without losing sight of transparency or security. He said Bitstamp’s values of compliance and customer care will remain a priority within Robinhood.
A Strategic Leap Towards Global Crypto Dominance
Both companies have assured users that service quality and reliability will stay intact. Bitstamp’s team will now collaborate with the new owners, sharing knowledge and tools.
This acquisition comes as crypto adoption rises again in multiple regions and as Bitcoin rises amid FED Chair Jerome Powell‘s comments on the economic outlook. By acquiring a proven name like Bitstamp, Robinhood is not starting from scratch, it’s stepping into the arena with a tested and respected partner.
In the end, this isn’t just another crypto merger. It signals Robinhood’s serious intent to become a global crypto force, not just a U.S. trading app.
This is especially true as specially as Satoshi’s Bitcoin wealth is projected to surpass tech and finance giants. With their new partners on board, that goal now feels more real.
Paul
Paul Adedoyin is an experienced crypto journalist who provides timely news, in-depth research, and insightful content to inform and empower his audience. He can be reached via [email protected]
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
Dems Say They’re Blocked From Info on Verge of Crypto Market Structure Bill Hearings
Dow gains 214 points, markets end higher as strong labor data eases tariff concerns
Ethereum Price Headed For Crash To $2,000 With Current Price Action
Tokenized funds hit $5.7B, scaling fast — Moody’s
Authorities Warn of Phony Text Messages Phishing for Sensitive Information, Telling Victims Their Bank Account Is at Risk
Tether invests in Chilean crypto exchange Orionx
MARA Hits Record-High Bitcoin Production in May
Retail investors no longer FOMO into BTC, altcoins
AVAX Rises 3.8% on Strong Volume, Breaking Key Resistance Levels
K33 begins Bitcoin buying with 10 BTC purchase for treasury strategy
Why $107,500 And $103,500 Are The Levels To Watch
Pakistan Proposes New Crypto Regulations
Japanese Bitcoin Hoarder Metplanet Adds $115,600,000 Worth of BTC As Stock Surpasses 263% Gains on the Year
Bitcoin traders anticipate decline, watch $100K
Ethereum Foundation Restructures R&D Division, Plans ‘Rethink’ on Design and Development
24/7 Cryptocurrency News7 months agoArthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025
Markets3 months agoPi Network coin to $10? 4 catalysts that may make it possible
Ripple Price3 months ago3 Voting Polls Show Why Ripple’s XRP Price Could Hit $10 Soon
Bitcoin5 months agoExpert Sees Bitcoin Dipping To $50K While Bullish Signs Persist
24/7 Cryptocurrency News5 months agoAptos Leverages Chainlink To Enhance Scalability and Data Access
Bitcoin7 months agoBitcoin Could Rally to $80,000 on the Eve of US Elections
Opinion7 months agoCrypto’s Big Trump Gamble Is Risky
Bitcoin4 months agoThe Future of Bitcoin: Scaling, Institutional Adoption, and Strategic Reserves with Rich Rines
✓ Share: