Category: Policy

Chia Network Lays Off Third of Its Staff as Loss of Banker Delayed Going Public

October 2, 2023CryptoLeave a Comment

Chia Network cut a third of its workforce today as the blockchain platform sought to reestablish a lost banking relationship, the company told CoinDesk, further delaying what Chia had hoped would be a rapid path to listing as a public company.

FTX Founder Sam Bankman-Fried Cannot Blame Lawyers in Opening Statement, but Can Raise Defense Later: Judge

October 1, 2023CryptoLeave a Comment

In his ruling, the judge said the phrasing of the various filings raise questions about “what would constitute ‘undue’ focus on attorney involvement,” “what could suggest inappropriately that attorneys had ‘blessed’ a particular course of conduct” and what legal theory would allow evidence that met the first two questions.

FTX Customers, Investors Will Testify Against Sam Bankman-Fried, DOJ Says

September 30, 2023CryptoLeave a Comment

“To obtain likely less than 30 minutes of testimony from overseas FTX customer witnesses, however, requires, for at least some countries, coordinating with local authorities, arranging multi-day travel itineraries to accommodate varying time changes and travel delays, and incurring significant costs associated with such arrangements. Notwithstanding those hurdles, the Government is in the process of […]

DOJ's Proposed Jury Questions 'Risks Tainting' Bankman-Fried's Panel, Defense Says

September 29, 2023CryptoLeave a Comment

Sam Bankman-Fried’s attorneys objected to some of the U.S. Department of Justice’s proposed voir dire questions in a late Friday filing, saying they may miss potential juror bias or otherwise lead to jurors making assumptions about the case.

Crypto Lender BlockFi Says It’s Taken Major Step Toward Emerging From Bankruptcy

September 29, 2023CryptoLeave a Comment

The beleaguered crypto lender was among a rash of digital asset companies that froze their customers’ accounts and eventually collapsed after FTX blew up last fall. The restructuring plan, which more than 90% of creditors approved, will enable BlockFi to recover the assets it lost to crypto exchange FTX and failed hedge fund Three Arrows […]

SEC’s Gensler Throws Crypto Punches, Dodges Bitcoin ETF Query in Congressional Hearing

September 27, 2023CryptoLeave a Comment

Much of the hearing focused on non-crypto issues, including a looming shutdown of the federal government and whether the SEC is focusing too much on climate or other issues. As in previous hearings, Wednesday’s meeting saw an acute partisan divide, with influential Democrats praising Gensler and Republicans alleging he was harming consumers or small businesses.

U.S. Government Shutdown, Assuming It Doesn’t Run Long, Will Slow, Not Cripple Crypto Efforts

September 25, 2023CryptoLeave a Comment

“If the government shuts down, forward progress on bills will be stalled,” said Sheila Warren, CEO of the Crypto Council for Innovation, an industry advocacy organization, who says she’s concerned about lawmakers losing the focus that’s been a challenge for the industry to build. “In the aftermath of a shutdown, it is unclear what issues […]

Binance, U.S. Affiliate, Changpeng ‘CZ’ Zhao File to Dismiss SEC Lawsuit

September 21, 2023CryptoLeave a Comment

“Indeed, since 2019, Congress has considered more than a dozen proposals that would provide a coherent and workable framework for crypto assets and their trading platforms,” the filing said. “Critically, none of those proposals would confer sole regulatory jurisdiction over the crypto industry to the SEC. Despite this, the SEC now seeks to expand its […]

Vivek Ramaswamy Is Drafting a ‘Crypto Policy Framework’

September 20, 2023CryptoLeave a Comment

Following an appearance from Anthony Scaramucci – the financier famous for his brief stint as Donald Trump’s communications director – Ramaswamy’s remarks speak to crypto’s growing prominence in the U.S. political landscape. As Selkis noted as he welcomed Ramaswamy to the stage, “If you told me a couple of years ago that we’d have a […]

Appeal Court Punts on Bankman-Fried’s Bid to Secure Release from Jail

September 19, 2023CryptoLeave a Comment

The delay is the latest in a string of disappointments for Bankman-Fried, who has failed to secure the end of his pre-trial detention since landing in prison in early August. His lawyers have argued their client can’t properly prepare his defense from jail. On the other hand, prosecutors argue he poses a threat to witnesses […]