- Warren may be tested by crypto advocate Deaton
- Crypto VC deals finally see uptick
- Honduras bans institutional crypto trade
Warren may face pro-crypto challenger Deaton
Anti-crypto US Senator Elizabeth Warren may get a Republican challenge from digital assets advocate John Deaton, an attorney and ex-Marine who has been critical of Warren on social media, the Boston Globe reported.
Jim Conroy, who managed former Massachusetts Governor Charlie Baker’s campaign, told the Globe he has been consulting with Deaton, who is taking a “serious look” at the race and will decide within days whether to enter.
Warren, a Democratic senator since 2012, and more than 100 other lawmakers called on the Biden administration after the October 7 Hamas attack on Israel to clamp down on “crypto-financed terrorism,” DL News reported.
Deaton owns crypto, blogs about the subject frequently on his website Crypto Law, and has aired his views on cable news shows.
Warren would be favoured in a match-up, as she is popular in the state and had almost $4 million banked for campaigning at the start of the year, Politico said. Still, Deaton is ready to fund his campaign with an initial $500,000, should he decide to run, Conroy told the Boston Herald.
The crypto industry is girding for the November elections, as crypto-focused Super PAC Fairshake and two affiliated super PACs recently revealed in filings that they had amassed campaign war-chests totalling almost $80 million, according to Fortune.
Crypto VC funding increases for first time since early 2022
There may finally be some light at the end of the tunnel for crypto, following difficult times littered with scandals, collapses, bankruptcies, and declining values.
For the first time since Q1 of 2022, deal value increased.
A 2.3% bump over Q3 helped the final quarter of 2023 reach $1.9 billion across 326 deals, according to PitchBook’s latest Emerging Tech Research.
“After six straight quarters of decline, an uptick in funding, albeit a tiny percentage, could present welcome news for startups in the coming quarters,” Pitchbook said.
The positive sentiment was driven by imminent approval of spot Bitcoin ETFs, it said.
The value of Bitcoin has also increased, from less than $17,000 in December 2022 to more than $51,000 today.
Honduras regulator bans institutions from trading crypto
Honduras’ regulator banned the country’s financial system from trading crypto with immediate effect, it said in a resolution that cited risks of fraud and money laundering, Reuters reported.
The National Banking and Securities Commission resolution does not allow institutions under its supervision to “maintain, invest, intermediate or trade in cryptocurrencies, crypto-assets, virtual currencies, tokens, or any similar virtual assets not issued or authorised by the central bank.”
In contrast, Neighbouring El Salvador in 2021 became the first country to make Bitcoin legal tender, as well as investing in Bitcoin as part of its national treasury, DL News reported.
Crypto market movers
- Bitcoin is down 1.03% today at $51,629.50.
- Ethereum is down 1.06% today at $2,774.05.