Author: John Smith
A Riot Platforms exec accuses Ripple of lobbying against the Strategic Bitcoin Reserve to protect its XRP narrative and promote state-controlled digital currencies. Pierre Rochard, a vice president at Riot Platforms, has accused Ripple of leading a major lobbying effort to derail the Strategic Bitcoin Reserve, claiming the company is still throwing millions of dollars at politicians “desperately trying to derail it.” The biggest obstacle for the Strategic Bitcoin Reserve is not the Fed, Treasury, banks, or Elizabeth Warren. It’s Ripple/XRP. They are aggressively lobbying against the SBR by throwing around $millions at politicians, desperately trying to derail it. They…
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Senator Elizabeth Warren and Rep. Jake Auchincloss demand U.S. regulators investigate President Trump’s TRUMP and MELANIA meme coins. In a letter addressed to multiple federal agencies, including the US Office of Government Ethics, the SEC, the Treasury and the CFTC, Warren and Auchincloss outlined several concerns regarding the Trump family’s line of meme coins. One of the main concerns raised in the document is the potential ethics violation that comes with the mass token launch, as basically anyone in the world could purchase TRUMP (TRUMP) and boost the President’s net worth, including “secretive foreign buyers seeking to curry influence with…
Video game giant Atari has unveiled 500 limited-edition physically redeemable NFTs through DYLI, a blockchain-powered collectibles marketplace. Through a Jan. 23 announcement, the New York-headquartered gaming firm announced the launch of limited edition collectible patches themed around its gaming legacy. We’re dropping 500 packs of collectible patches with DYLI, a new platform for collectors.Each pack may include rare items like stickers, gift cards, and one special item signed by Atari founder Nolan Bushnell. 👀Packs drop next week and will be $15!Sign up so you don’t miss… pic.twitter.com/8uDUJYP3nR— Atari (@atari) January 23, 2025 Each of the packs will be priced at…
On Jan. 24, THORChain announced via X that it had paused its network due to excessive debt and leverage issues impacting its ecosystem. The platform owes nearly $200 million in ecosystem debt. In DeFi, ecosystem debt occurs when a blockchain owes more tokens than it holds, as seen with THORChain’s current situation. This often results from overambitious promises or mismanagement, leading to financial imbalances. On the other hand, leverage risk comes when users are using their crypto assets as collateral to borrow against to improve their positions. Leverage risks can magnify profits but also come with massive losses if the market…
Vitalik Buterin has cautioned against abandoning Ethereum’s chosen path in favor of profit-driven models like those seen in Solana. Ethereum (ETH) co-founder Vitalik Buterin warns that profit-driven models, like those in Solana (SOL), could mess with Ethereum’s principles, stressing how important it is to keep the network decentralized and socially grounded, calling it a contrast to what he calls the “Wall Street greed-is-good mentality.” In a blog post on Jan. 23, Buterin highlighted Ethereum’s decade-long mission to create a “global, censorship-resistant permissionless blockchain” and how it’s rooted in open-source values, much like projects like Linux and Mozilla. “The goal of…
Inflows into spot Bitcoin ETFs in the U.S. remained sluggish on Jan. 23 as President Donald Trump’s efforts to form a working group on digital assets under an executive order failed to meet market expectations. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded $188.65 million in net inflows on Thursday, marking their fourth consecutive day of declining inflows since the beginning of the week, when they recorded over $1 billion in inflows. BlackRock’s IBIT attracted the lion’s share of inflows, totaling $154.6 million, leading Bitcoin ETFs in inflows for the fifth consecutive day while Bitwise’s BITB followed…
After being pardoned by President Trump, Ross Ulbricht tweeted for the first time in over 11 years, expressing gratitude for second chances and support, while his associated cryptocurrency token experienced a price drop following a three-month surge. On Jan. 24, Ross Ulbricht made his appearance on X for the first time after 11 years in prison. Ross Ulbricht took to X to thank President Donald Trump, who fully pardoned his sentencing of life without parole and called the sentencing ‘Ridiculous.’ In the X post, Ulbricht emphasized the importance of ‘second chances’ and thanked all his supporters, saying “it is a victory,…
The Securities and Exchange Commission (SEC) has repealed a controversial rule requiring financial firms holding cryptocurrency for customers to report those assets as liabilities on their balance sheets. In a bulletin issued on Jan. 23, the SEC announced that Staff Accounting Bulletin (SAB) 122 officially rescinds SAB 121, a policy introduced in March 2022 that faced significant pushback from the crypto industry. SAB 121 had drawn criticism for its cumbersome reporting requirements, with industry leaders arguing it made custody of digital assets unnecessarily complicated. The rule’s removal was met with relief, as highlighted by SEC Commissioner Hester Peirce’s celebratory Jan.…
Fathom Holdings, a technology-driven real estate services platform, has announced the inclusion of Bitcoin in its treasury management program. The Board of Directors approved the allocation of up to 50% of Fathom’s excess cash — approximately $500,000 — to Bitcoin (BTC) purchases over the next two weeks, according to a company release. The company hopes to streamline real estate transactions through its digital platform, intelliAgent. The platform integrates residential brokerage, mortgage, and title functions to reduce transaction costs and inefficiencies. The initiative diversifies Fathom’s treasury holdings, which previously consisted solely of U.S. dollars, and aligns with the company’s broader strategy…