sponsored The cryptocurrency industry has faced significant regulatory challenges in recent years, with the SEC and CFTC taking action against various projects, including sending Wells notices to Coinbase. Amidst this regulatory landscape, the concept of sovereignty and international law has become increasingly important for crypto investors and innovators. The idea is that a new state
A crypto user who purchased a luxury car with Bitcoin (BTC) faces 18 months in prison and a $3.7 million fine in Morocco, which still considers the use of crypto as an illegal act. A recent report by Euronews stated the Casablanca Court of Appeal had upheld the conviction of Thomas Clausi, a 21-year-old French
Jeffrey Katzenberg has vowed to deliver “all the resources” Joe Biden needs for his 2024 re-election campaign as the Hollywood studio executive and prominent Democratic donor shrugged off concerns about the president’s political prospects. In a relentlessly upbeat interview, the co-chair of Biden’s campaign, who plays an important role in the fundraising effort, said he
Next weekend’s G7 summit in Hiroshima is, in part, a dealmaking retreat for leaders of different status. Each participant’s standing derives from some combination of their country’s size, GDP and military might, plus the leader’s charisma and electoral prospects. The biggest beast at the summit is always the American president. Lowly pack members like Giorgia
The South African minister of international relations, Naledi Pandor, has urged Brazil, Russia, India, China and South Africa (BRICS) countries to be wary of making a hurried decision when they meet in August to discuss launching a common currency. Pandor said her country will “not shy away from discussions” that relate to her country’s national
Bitcoin (BTC) struggled to recover from fresh losses on May 11 as a false alarm over United States government sales spooked markets. Analysts deny U.S. government BTC sales Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $27,400 at the time of writing. The pair had seen a flash sell-off the day prior, briefly
The International Monetary Fund has urged Zimbabwean authorities to weigh the benefits versus risks of issuing a gold-backed digital currency. Instead of using gold-backed digital currency to limit the demand for the greenback, the global lender said monetary authorities should consider liberalizing the foreign exchange market. Risks to Macroeconomic and Financial Stability The International Monetary
European stocks rose at the open on Thursday, buoyed by an overnight rally on Wall Street, as traders awaited an expected interest rate rise from the Bank of England. Europe’s region-wide Stoxx 600 gained 0.6 per cent, recovering from two consecutive days of losses, while France’s Cac index rose 0.9 per cent. Indices were tracking
Robert Reich, former secretary of labor in the U.S., has called for the government to bypass Congress in order to raise the debt ceiling unilaterally. Reich states that the constitution of the U.S. gives President Biden the faculty of ignoring this debt limit, declaring it unconstitutional — explaining its existence is less significant than the
Jamie Dimon, CEO of JPMorgan, stated that he favored abolishing the debt limit, giving the government the faculties to extend its debt without congressional action. Dimon also stated that even the drama surrounding the build-up to extending or not extending the debt limit could cause panic, as the U.S. economy is foundational for the world.
Donald Trump urged Republican lawmakers to let the US default on its debts unless Democrats capitulate to demands for “massive” spending cuts, a significant intervention by the former president as Washington contends with a looming fiscal crisis. Trump made the comments on Wednesday in a hotly anticipated primetime televised town hall from New Hampshire, the
Vodafone has announced plans to deepen its ties with United Arab Emirates telecoms group e&, which has amassed an almost 15 per cent stake in the UK operator and will now have a seat on its board. Under a plan set out on Thursday, Hatem Dowidar, chief executive of e&, will join Vodafone’s board as
Bitcoin (BTC) miner Marathon Digital has disclosed that it received another subpoena from the United States Securities and Exchange Commission (SEC) relating to its 100-megawatt data center in Hardin, Montana. According to Marathon’s quarterly report filed May 10, it received the subpoena on April 10 “relating to, among other things, transactions with related parties” that
According to a local report, South Korean prosecutors have been given the green light by the Criminal Division of the Seoul Southern District Court to seize assets owned by Do Kwon, the co-founder and former CEO of Terraform Labs. The report discloses that a total of 233.3 billion won ($176 million) worth of assets have
The Bitcoin mempool, otherwise known as the network’s transaction backlog, is still clogged with over 390,000 transactions waiting to be processed by miners. To clear the mempool, more than 190 blocks need to be mined. As the scaling issues continue to plague the network, a conversation between former Bitcoin developer Gavin Andresen and the network’s
In today’s newsletter US prosecutors prod Icahn Enterprises China cracks down on due diligence Big Law’s Gen-Z dilemma Can Wall Street’s most feared bruiser take a punch? When short seller Hindenburg Research released its report on Icahn Enterprises last week, we wrote in DD that most of Wall Street would be watching. It turns out
A good deal of scoffing has been blowing its way across the Atlantic towards Britain in recent days. For some Americans, the pomp and pageantry of King Charles III’s coronation seemed to all be a bit grandiose and nostalgic for a 21st-century democracy. “Hard to take this seriously,” tweeted a prominent American political scientist during
More than three months after short seller Hindenburg Research accused Indian tycoon Gautam Adani’s conglomerate of engaging in stock price manipulation and accounting fraud, the company argues that its profits are proof of the strength of its business. “It’s unfortunate we had to go through this politicised, malicious report,” said Adani Group chief financial officer
An email sent out to Coinbase customers describing memecoin Pepe (PEPE) as a “hate symbol” co-opted by alt-right groups has drawn significant ire from the memecoin community. Prominent crypto influencer Borovik.eth shared a screenshot of the email newsletter from May 10 to his 96,000 followers, which cites a 2016 decision from the Anti-Defamation League to
The BRICS nations are set to discuss the feasibility of a common currency at the upcoming leaders’ summit. “It’s a matter we must discuss and discuss properly,” a South African minister stressed, noting that a growing number of countries are saying: “Why can’t we trade in our own currencies? Why are we committed to trading
Investment analyst Jon Wolfenbarger has warned that a successful BRICS currency could hurt U.S. living standards and “lead to less power for the U.S. government, similar to the weakening of the UK after World War II.” He stressed: “Due to the Russia-Ukraine war and China’s continued economic growth, the BRICS are accelerating plans to take