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Democratic incumbent targeted by crypto Super PAC ads loses primary

Millions of dollars from political action committees may have contributed to challenger George Latimer’s defeat of incumbent Jamaal Bowman in a June 25 Democratic primary.

Update (June 26 at 6:07 pm UTC): An earlier version of this article incorrectly stated that Shomari Figures won a primary in the state of California. It has been corrected to a primary in Alabama.

Jamaal Bowman, a House Representative for New York’s 16th Congressional District, has lost the Democratic primary, which could have allowed him to keep his seat in 2025.

According to a June 26 projection from NBC News, Democratic challenger George Latimer will defeat Bowman by roughly 58%–42%, with 84% of the vote reporting at the time of publication. The Fairshake political action committee (PAC) spent more than $2 million on a media campaign opposing Bowman’s reelection — not attacking his record on voting against pro-crypto bills, but claims of “pushing dangerous conspiracy theories.”

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Ethereum Believers May Be Staring Down Opportunity As ETH Reaches Another Low Against Bitcoin: CryptoQuant CEO

Crypto Super PAC spends $2M on attack ad targeting NY lawmaker

Democratic Representative Jamaal Bowman in New York’s 16th Congressional District has voted against three pro-crypto bills in the last 30 days.

The Fairshake group, a political action committee (PAC) backed by crypto firms including Ripple and Coinbase, has spent more than $2 million opposing the incumbent in the Democratic primary for New York’s 16th Congressional District.

According to United States Federal Election Commission data, Fairshake spent more than $2 million on a media campaign opposing Democratic Representative Jamaal Bowman’s reelection. As of June 16, outside interest groups had contributed roughly $9 million opposing Bowman, who is facing off against Democrat George Latimer in a June 25 primary. 

The Fairshake attack ad, which does not specifically mention crypto or blockchain, claimed Rep. Bowman spent his career “pushing dangerous conspiracy theories.” In response to earlier opposition ads funded by a different Super PAC, high-profile Democratic lawmakers including Senator Bernie Sanders, Senator Elizabeth Warren and Alexandria Ocasio-Cortez backed Bowman’s reelection.

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Ethereum Believers May Be Staring Down Opportunity As ETH Reaches Another Low Against Bitcoin: CryptoQuant CEO

Cumberland Earns Bitlicense, Bolstering Institutional and OTC Crypto Services

Cumberland Earns Bitlicense, Bolstering Institutional and OTC Crypto ServicesAccording to an X post on Monday, the cryptocurrency trading division of DRW Holdings, known as Cumberland, has been granted a Bitlicense by the New York State Department of Financial Services (NYDFS). Cumberland DRW Secures Bitlicense Cumberland, a trading desk that provides institutional over-the-counter (OTC) liquidity for numerous cryptocurrencies, now holds a Bitlicense. This business […]

Ethereum Believers May Be Staring Down Opportunity As ETH Reaches Another Low Against Bitcoin: CryptoQuant CEO

New York Attorney General Reaches $50,000,000 Settlement With Crypto Exchange Gemini Over Fraud Allegations

New York Attorney General Reaches ,000,000 Settlement With Crypto Exchange Gemini Over Fraud Allegations

New York Attorney General Letitia James is settling with crypto exchange Gemini over fraud allegations for $50 million. In a new press release, James says she’s recovered $50 million worth of digital assets on behalf of 230,000 investors allegedly defrauded through Gemini’s Earn program, which had the firm partnering up with crypto lender Genesis to […]

The post New York Attorney General Reaches $50,000,000 Settlement With Crypto Exchange Gemini Over Fraud Allegations appeared first on The Daily Hodl.

Ethereum Believers May Be Staring Down Opportunity As ETH Reaches Another Low Against Bitcoin: CryptoQuant CEO

New York Attorney General Sues Two Crypto Companies for Alleged $1,000,000,000 Pyramid Scheme

New York Attorney General Sues Two Crypto Companies for Alleged ,000,000,000 Pyramid Scheme

The Attorney General of New York is suing two crypto firms for their alleged role in a $1 billion pyramid scheme. In a new press release, New York AG Letitia James announces a lawsuit against crypto exchange NovaTech and crypto mining company AWS Mining for allegedly defrauding hundreds of thousands of customers, 11,000 of which […]

The post New York Attorney General Sues Two Crypto Companies for Alleged $1,000,000,000 Pyramid Scheme appeared first on The Daily Hodl.

Ethereum Believers May Be Staring Down Opportunity As ETH Reaches Another Low Against Bitcoin: CryptoQuant CEO

New York Cracks Down on Crypto Pyramid Schemes Targeting Immigrants

New York Cracks Down on Crypto Pyramid Schemes Targeting ImmigrantsNew York Attorney General Letitia James has sued Novatechfx, AWS Mining, and their founders for orchestrating crypto pyramid schemes that defrauded over 11,000 New Yorkers out of more than a billion dollars in cryptocurrency. These companies targeted vulnerable immigrant communities, particularly Haitians, with false promises of high returns. NYAG Letitia James Takes Action Against Crypto […]

Ethereum Believers May Be Staring Down Opportunity As ETH Reaches Another Low Against Bitcoin: CryptoQuant CEO

New York Tightens Customer Service Regulations for Crypto Companies

New York Tightens Customer Service Regulations for Crypto CompaniesThe New York State Department of Financial Services (DFS) has introduced new guidance mandating regulated cryptocurrency entities to implement customer service policies and procedures. Crypto entities must collect data to ensure timely and fair resolution of issues, maintain records for regulatory review, and provide quarterly analyses. New York Regulator Requires Crypto Firms to Adopt New […]

Ethereum Believers May Be Staring Down Opportunity As ETH Reaches Another Low Against Bitcoin: CryptoQuant CEO

US Presidential Candidate Courting Crypto Community’s Vote Found Guilty on 34 Felony Charges

US Presidential Candidate Courting Crypto Community’s Vote Found Guilty on 34 Felony Charges

Crypto supporter and US Presidential candidate Donald Trump has been found guilty on 34 felony counts by a jury in Manhattan. According to widespread reports and a press release from Manhattan District Attorney (DA) Alvin Bragg, the former president was found guilty yesterday on all counts of “falsifying New York business records in order to […]

The post US Presidential Candidate Courting Crypto Community’s Vote Found Guilty on 34 Felony Charges appeared first on The Daily Hodl.

Ethereum Believers May Be Staring Down Opportunity As ETH Reaches Another Low Against Bitcoin: CryptoQuant CEO

Top US Crypto Exchange Coinbase Reestablishes Support for XRP Trading in New York

Top US Crypto Exchange Coinbase Reestablishes Support for XRP Trading in New York

Coinbase has reestablished trading support for XRP in the state of New York. The top US crypto exchange by trading volume first suspended XRP trading across the country shortly after the U.S. Securities and Exchange Commission (SEC) kicked off its lawsuit against Ripple in late 2020. The SEC alleged Ripple sold XRP as an unregistered […]

The post Top US Crypto Exchange Coinbase Reestablishes Support for XRP Trading in New York appeared first on The Daily Hodl.

Ethereum Believers May Be Staring Down Opportunity As ETH Reaches Another Low Against Bitcoin: CryptoQuant CEO

Coinbase reopens XRP trading in New York

Paul Grewal, Coinbase’s chief legal officer, announced that New York users of the exchange can once again trade XRP.

On May 23, Coinbase’s chief legal officer, Paul Grewal, announced that customers in the state of New York could once again trade XRP on the crypto exchange after a nine-month hiatus.

In a brief social media post, Grewal provided an update: “XRP trading on Coinbase is available again in NY. We heard you and put in the work in strong partnership with the State. And now the word can be put out— we are back up.”

Following the United States Securities and Exchange Commission’s (SEC) lawsuit against Ripple in 2020, XRP remained an embattled asset, facing scrutiny from government regulators and centralized exchanges alike.

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Ethereum Believers May Be Staring Down Opportunity As ETH Reaches Another Low Against Bitcoin: CryptoQuant CEO