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6 things the US needs to stay competitive in crypto, according to execs

Coin Telegraph
6 things the US needs to stay competitive in crypto, according to execs
Banking

The US is in danger of being left behind by more progressive jurisdictions in Asia, Europe and elsewhere.

The United States blockchain industry is falling behind more progressive jurisdictions, particularly in Asia, according to crypto industry leaders.

Fiona Murray, the managing director of Ripple Asia Pacific, told Cointelegraph that a “lack of open-mindedness” in the US is driving business overseas.

And while much of the industry is unhappy with the current regulatory landscape, there are other important factors curbing US growth. 

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Cantor Fitzgerald, led by Trump's Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Cantor Fitzgerald, led by Trump’s Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Will Trump pardon SBF? 6 weird Polymarket betting pools on US politics

Coin Telegraph
Will Trump pardon SBF? 6 weird Polymarket betting pools on US politics
Betting

As the US elections approach, crypto policy betting surges on Polymarket. From traditional political predictions to quirky, unexpected wagers, users are placing bets on what’s to come.

Crypto betting platform Polymarket has received mainstream attention as betting pools on the United States presidential elections have helped the platform surpass $1 billion in volume. 

Polymarket allows individuals to anonymously create market betting pools on almost any event, with outcomes determined in a binary “yes” or “no” format. While most users focus on straightforward bets, a subset of investors gravitate toward more unorthodox wagers.

As election day approaches and crypto policies become a prominent topic in the campaign, a wide range of wagers related to politicians and crypto policies are on the rise. These bets range from conventional political predictions to humorous and bizarre speculations.

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Cantor Fitzgerald, led by Trump's Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Cantor Fitzgerald, led by Trump’s Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Investment managers eye ‘extraordinary upside’ from BTC options debut

Coin Telegraph
Investment managers eye ‘extraordinary upside’ from BTC options debut
Bitcoin

They could potentially spark an "explosively recursive” price upside for Bitcoin, according to one investment manager. 

Investment managers expect the United States debut of options on spot Bitcoin (BTC) exchange-traded funds (ETFs) to accelerate institutional adoption and potentially unlock “extraordinary upside” for spot BTC holders. 

On Sept. 20, the US Securities and Exchange Commission (SEC) greenlighted Nasdaq’s electronic securities exchange to list options on BlackRock’s iShares Bitcoin Trust ETF (IBIT). It marked the first time the regulator approved options tied to spot BTC for US trading.

Listing spot BTC options on regulated US exchanges — where the Options Clearing Corporation (OCC) safeguards traders against counterparty risk — marks a “monumental advancement” in cryptocurrency markets and creates “extremely compelling opportunities” for investors,” Jeff Park, Bitwise Invest’s head of alpha strategies, said in a Sept. 20 X post. 

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Cantor Fitzgerald, led by Trump's Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Cantor Fitzgerald, led by Trump’s Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Three-Mile Island nuclear site reopening to power AI

Coin Telegraph
Three-Mile Island nuclear site reopening to power AI
AI

The site was ground zero for a partial nuclear meltdown in 1979, which affected a separate unit and caused nearby areas to evacuate.

Microsoft has signed a deal with the Constellation Energy Corporation — the owner of the Three-Mile Island nuclear site — to reopen the Pennsylvania facility and provide the tech company with clean energy for its artificial intelligence operations.

The 20-year deal between Microsoft and Constellation will see the restoration of the Three-Mile Island Unit 1 reactor to host the "Crane Clean Energy Center" as part of the tech giant's commitment to powering its artificial intelligence business through carbon-free power.

As part of the agreement, Constellation Energy will supply 835 megawatts of power to Microsoft and spend approximately $1.6 billion to bring the facility online — a goal the energy provider hopes to accomplish by 2028.

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Cantor Fitzgerald, led by Trump's Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Cantor Fitzgerald, led by Trump’s Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Bitcoin to hit $200K by end of 2025 regardless of election — Bank exec

Coin Telegraph
Bitcoin to hit 0K by end of 2025 regardless of election — Bank exec
2024 election

The 2024 election is projected to be a tight race on the granular local level, but this shouldn’t matter for the long-term price of BTC. 

Geoff Kendrick, global head of digital assets research at Standard Chartered — a cross-border bank — believes Bitcoin (BTC) will have likely reached $200,000 by the end of 2025 regardless of who wins the 2024 United States presidential election.

According to the bank executive, three factors are poised to drive the price of Bitcoin to new all-time highs in 2025, including the likely removal of Staff Accounting Bulletin-121 (SAB-121) — a rule effectively preventing banks from holding digital assets for clients — a marginal uptick in inflation, and positive inflows into Bitcoin exchange-traded funds (ETFs).

Kendrick expects SAB-121 to be repealed by both Former President Donald Trump and Vice President Kamala Harris. Similarly, the Standard Chartered executive said that leadership changes at the Securities and Exchange Commission were likely coming — specifically noting SEC Chair Gary Gensler’s negative impact on the crypto industry and what Gensler’s potential replacement could mean for the markets.

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Cantor Fitzgerald, led by Trump's Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Cantor Fitzgerald, led by Trump’s Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Silvergate Capital files for Chapter 11 bankruptcy in Delaware

Coin Telegraph
Silvergate Capital files for Chapter 11 bankruptcy in Delaware
Bankruptcy

The parent company of Silvergate Bank has listed assets ranging from $100 million to $500 million and liabilities between $10 million and $50 million.

Silvergate Capital Corporation, the parent company of Silvergate Bank, filed for Chapter 11 bankruptcy in the US Bankruptcy Court for the District of Delaware. 

According to a filing on Sept. 17, the company has listed assets between $100 million and $500 million and liabilities ranging from $10 million to $50 million. The bankruptcy petition includes Silvergate’s two affiliates, Silvergate Liquidation Corporation and Spring Valley Lots, LLC.

Silvergate’s reorganization plan, filed as part of its Chapter 11 bankruptcy, proposes fully paying several types of debts, including administrative fees, taxes, and other high-priority claims like secured loans and professional fees. 

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Cantor Fitzgerald, led by Trump's Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Cantor Fitzgerald, led by Trump’s Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Ex-SEC officials to speak at hearing on ‘politicized approach’ to crypto

Coin Telegraph
Ex-SEC officials to speak at hearing on ‘politicized approach’ to crypto
Coin Telegraph

US House lawmakers will hear from a former SEC commissioner and crypto industry leaders at their “Dazed and Confused” digital assets hearing on Sept. 18.

Two former staff members from the United States Securities and Exchange Commission (SEC) will testify at a Sept. 18 hearing on the politicization of crypto regulation.

In a Sept. 13 notice, the US House Subcommittee on Digital Assets, Financial Technology and Inclusion said they would hold a hearing titled “Dazed and Confused: Breaking Down the SEC’s Politicized Approach to Digital Assets.” The witnesses at the Sept. 18 hearing will include former SEC commissioner Dan Gallagher and Michael Liftik, who worked as an attorney, senior adviser, or acting enforcement chief during his roughly ten years at the commission. 

The subcommittee leadership claimed that SEC Gary Gensler had “prioritized and pursued an enforcement and regulatory agenda to the detriment of the digital asset ecosystem” during his time at the commission. They cited inconsistencies with Gensler’s position on digital assets as securities under the Howey test and disagreements among commissioners.

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Cantor Fitzgerald, led by Trump's Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Cantor Fitzgerald, led by Trump’s Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Crypto may swing election in battleground states — law professor

Coin Telegraph
Crypto may swing election in battleground states — law professor
2024 elections

According to a 2024 analysis by the Federal Reserve, 7% of adults in the United States currently hold or have used crypto in the past.

As the 2024 election season commences in the United States, the crypto industry and broader community have mobilized to support perceived pro-crypto candidates. Dr. Tonya M. Evans—a tenured law professor at Pennsylvania State University—sat down with Cointelegraph to explain the impact of crypto on the upcoming elections.

According to Dr. Evans, the upcoming presidential race, in particular, will be decided by razor-thin margins—where many issues can potentially swing the vote, including crypto.

However, the law professor also noted: “If you’re a multi-issue voter who happens to also be pro-crypto, you’re far less likely to be swayed by either candidate on this point alone.”

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Cantor Fitzgerald, led by Trump's Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Cantor Fitzgerald, led by Trump’s Commerce secretary nominee, struck deal to acquire 5% stake in Tether

North Carolina resists the CBDC tide with new payments ban

Coin Telegraph
North Carolina resists the CBDC tide with new payments ban
CBDC

A new law in North Carolina seeks to ban CBDCs in the state, but there are questions about whether the new legislation is even legal. 

Privacy and sovereignty concerns over central bank digital currencies (CBDCs) mean that a digital dollar won’t be coming to the US state of North Carolina anytime soon.

On Sept. 9, the state’s Senate overrode the governor’s veto and passed into law a bill that forbids the state from accepting CBDCs as a form of payment.

The bill also prohibits the United States Federal Reserve from conducting any “testing” of a digital dollar in North Carolina.

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Cantor Fitzgerald, led by Trump's Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Cantor Fitzgerald, led by Trump’s Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Digital Chamber calls for Congress to address SEC actions against NFTs

Coin Telegraph
Digital Chamber calls for Congress to address SEC actions against NFTs
Coin Telegraph

The CEO of OpenSea reported receiving a Wells notice from the SEC in August, suggesting that the commission could be taking a new regulatory approach to NFTs.

The crypto and blockchain advocacy organization Digital Chamber is calling on the United States Congress to enact legislation “to clearly define certain NFTs [non-fungible tokens] as consumer products and exempt them from federal securities laws” in response to potential enforcement actions against the OpenSea platform.

In a Sept. 10 notice, Digital Chamber described the US Securities and Exchange Commission (SEC) Wells notice against OpenSea as an “overreach into the digital asset industry.” Though the regulator had not filed a lawsuit against the NFT platform at the time of publication, a Wells notice suggested that the SEC was considering an enforcement action.

Source: Digital Chamber

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Cantor Fitzgerald, led by Trump's Commerce secretary nominee, struck deal to acquire 5% stake in Tether

Cantor Fitzgerald, led by Trump’s Commerce secretary nominee, struck deal to acquire 5% stake in Tether

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