FTX Reaches $45M Deal to Sell Interest in Sequoia to Abu Dhabi’s Investment Arm
The agreement requires approval from a Delaware bankruptcy court as failed exchange seeks to raise funds for creditors.
Regulations
Biden Budget Plan Would Close Crypto Tax Loss Harvesting Loophole
U.S. President Joe Biden’s proposed budget will include a provision to close tax loss harvesting on crypto transactions.
Voyager Bankruptcy Judge Expresses Skepticism Over U.S. SEC Objection to Binance US Deal
Judge Michael Wiles of the Southern District of New York questioned a U.S. Securities and Exchange Commission attorney over the agency’s concerns that Binance US may be operating an unregistered securities exchange.
Bankman-Fried Should Have Only Flip Phone, Website Whitelist, DOJ Says
Sam Bankman-Fried’s bail conditions should restrict his use of the internet, including the use of a non-internet connected flip phone, an attorney to the U.S. Department of Justice has proposed in court filings made late Friday.
Silvergate Closes SEN Platform Institutions Used to Move Money to Crypto Exchanges
Silvergate Bank announced Friday it was suspending its “Silvergate Exchange Network” (SEN) “effective immediately.”
Binance.US Is Operating ‘Unregistered Securities Exchange,’ SEC Official Says
The official spoke during a Voyager Digital bankruptcy hearing.
Stablecoin Issuer Tether Used Bank Accounts Opened With Falsified Documents in Past: WSJ
Tether, the company behind the world’s largest stablecoin, accessed bank accounts by way of falsified documents and intermediaries, a new report says.
U.S. Lawmakers Reintroduce Bill to Force Crypto Miners to Disclose Emissions
U.S. Senator Edward Markey (D-Mass.) and Rep. Jared Huffman (D-Calif.) reintroduced a bill that would have crypto miners disclose their emissions and see the Environmental Protection Agency analyze the effect mining has.
Was Silvergate on Borrowed Time as Regulators Backed Banks Away From Crypto?
Silvergate Bank is being hollowed out as its customers retreat following the disclosure that it has to reassess its financials and may not be a “going concern” within a year. The prominent California-based crypto bank’s future gets increasingly murky.
U.S. Lawmakers Argue SEC Accounting Policy Undermines Safe Crypto Custody
Rep. Patrick McHenry, chairman of the House Financial Services Committee, and Sen. Cynthia Lummis teamed up on a letter questioning regulators about crypto accounting policy.