Crypto News Today: Bitcoin’s Rally Toward $30K, PayPal’s Stablecoin Fakes, and More
As Bitcoin retakes $30K and major players like PayPal delve into the crypto realm, the intersection of traditional finance and crypto becomes more pronounced.Source
Private Equity Giant David Rubenstein Makes the Case for Bitcoin
Billionaire private equity titan David Rubenstein believes Bitcoin (BTC) is here to stay thanks to growing institutional interest as evidenced by BlackRock’s application for a spot bitcoin ETF as well as general global demand for a form of money that can’t be controlled by governments.Source
Fed Starts New Program to Oversee Crypto Activity in U.S. Banks
The U.S. Federal Reserve is starting a new program for overseeing banks’ crypto activity, and it further clarified its requirement that the lenders under its authority get approval before engaging in digital assets activities.Source
Venture-Backed Saddle Finance Proposes Wind-Down, Dissolution
The Ethereum-based crypto trading protocol will shut down and distribute its treasury to investors.Source
Former FTX Exec Ryan Salame Talking to Prosecutors About Plea Deal: Bloomberg
It was not known whether Salame would cooperate with prosecutors and testify against FTX co-founder and CEO Sam Bankman-Fried.Source
Bavaria’s Data Regulator Had Not Concluded Assessment of Worldcoin When the Project Launched
The Sam Altman co-founded project has been shut down in Kenya over privacy concerns.Source
Solana-Based Cypher Protocol Experiences Exploit, Freezes Smart Contract
The protocol’s contracts are now frozen as contributors attempt to make contact with hackers to negotiate a return of funds.Source
Crypto Exchange Mango’s Legal Bills Swell, a Year After Alleged $116M Heist
First the blockchain-based exchange was allegedly victimized by a market manipulator, and now it’s having to spend big on lawyers to pursue suits and other remedies.Source
PayPal’s Regulated Stablecoin Is a ‘Watershed Moment’ in Crypto Space, Says Partner Paxos
“The difference is significant because we have a prudential regulator,” said Paxos head of strategy Walter Hessert.Source