DYdX Surges 30% as Trump Names David Sacks as ‘AI and Crypto Czar’
The “PayPal Mafia” alum will work to ensure the crypto industry has the legal framework and clarity it has been asking for, Trump said in a TruthSocial post.
Policy
Circle Claims Bragging Rights of USDC Becoming First Regulated Stablecoin in Canada
Pressure mounts on crypto exchanges operating in the country to comply with tighter rules to list stablecoins by the end of this year.
Vitalik Buterin Donated $1M in Ether to Coin Center Hours After Tornado Cash Victory
Vitalik Buterin donated 30 ETH, worth just over $1 million, to Coin Center on Tuesday night.
The donation came hours after a Coinbase-backed suit challenging U.S. sanctions against Tornado Cash won an appeals court victory.
Coin Center is pursuing its own lawsuit against the Treasury Department’s sanctions in a different appeals court.
Ripple Drops Another $25M Into Crypto PAC to Sway 2026 Congressional Races
Fairshake will have a whopping $103 million to spend on the next U.S. congressional election — so far — thanks to another $25 million just promised from Ripple Labs.
This latest contribution puts the political action committee in a powerful position to repeat its successes from this year’s elections, in which dozens of its favored pro-crypto candidates won their races.
Tornado Cash Sanctions Overturned by U.S. Appeals Court; TORN Soars Over 500%
A U.S. federal appeals court has delivered a major legal victory to the crypto sector by throwing out the U.S. Treasury Department’s earlier effort to directly sanction crypto mixing service Tornado Cash.
The court found that the government didn’t have the proper tools to include the actual technology underpinning the service as a sanctioned entity.
Tornado Cash’s native token, TORN, rocketed up by over 500% in the hours following the ruling.
Crypto Gains Let Poor People Buy Houses, U.S. Research Finds, But Risks May Lurk
The U.S. Treasury Department’s researchers were watching out for crypto risks, but they found digital assets enthusiasts with otherwise low incomes were buying homes in recent years at a high rate.
The high-crypto, poor areas have apparently used crypto gains to obtain mortgages and car loans, the Office of Financial Research found, but the delinquency rates on the debt have been low.
This cohort of the population is still worth watching for emerging risks if the markets take a turn, the paper noted.
Morocco Drafts Regulations for Crypto, Central Bank Governor Says
Morocco has drafted regulations for the crypto sector, its central bank’s head said.
The country will also continue to explore whether or not central bank digital currencies can contribute to the country’s policy objectives.
U.K. Financial Regulator Aims for Crypto Regime by 2026
The U.K. Financial Conduct Authority (FCA) said it wants to implement a crypto regime by 2026.
Ownership of crypto assets grew by 4% in the past two years, to include some 7 million adults out of the country’s roughly 68 million population.
