Senator Elizabeth Warren highlights ‘anti-crypto army’ push re-election campaign
US Democratic Senator Elizabeth Warren has highlighted her ‘anti-crypto army’ push in her re-election campaign.
Warren has devoted much of her activity on the Senate Banking Committee to tightening restrictions on the digital asset space.
She recently introduced Digital Asset Anti-Money Laundering Act, which is geared to “help close crypto money laundering loopholes.”
NOW READ: Gensler tells lawmakers crypto exchanges taunt SEC saying ‘catch us if you can’
I’m in this fight to put our government on the side of working families. Join our re-election campaign today: https://t.co/KuZwvrwkqT pic.twitter.com/fCUcqE9PZM
— Elizabeth Warren (@ewarren) March 29, 2023
US Conservative groups bash senator for drafting crypto rules with Democrats
US Conservative groups are grilling senator Roger Marshall for work on crypto legislation with Democratic crypto-cynics Warren and Chris Van Hollen.
The groups — consisting of Club for Growth, Americans for Tax Reform, and FreedomWorks — drafted a letter to Marshall expressing disappointment in his bipartisan work with two Democrats.
The letter also echoes sentiment expressed by other Republicans that tighter regulations may send crypto companies overseas.
NOW READ: We compared the ‘unbridgeable chasm’ between Europe and US crypto laws
Sam Bankman-Fried pleads not guilty to Chinese bribery charges
FTX founder Sam Bankman-Fried pleaded not guilty Thursday to US bribery and campaign finance charges.
The disgraced former CEO faces 13 charges, including fraud, theft and conspiracy related to dealings leading up to FTX’s November crash.
Bankman-Fried’s lawyer will challenge the new charges on grounds they were laid after his extradition from the Bahamas, where FTX was based.
Bankman-Fried potentially faces decades in prison if convicted.
His trial is slated to begin October 2.
NOW READ: US requests extradition of Do Kwon from Montenegro
Former Binance.US CEO lawyers up ahead of CFTC lawsuit
Catherine Coley — former CEO of Binance.US — has recruited an ex-CFTC watchdog and federal prosecutor to defend her amidst a growing US investigation into the company.
Coley served as CEO of Binance.US between its launch in 2019 until she abruptly and mysteriously quit in 2021.
She has made no public statements since leaving her post two years ago, but enlisted current defense counsel James McDonald once before in 2022 for a separate litigation involving Binance.US.
The company’s global associate firm, Binance, is currently facing a CFTC lawsuit accusing it of breaking securities and terrorist financing laws.
NOW READ: Binance’s CFTC suit a sign ‘other regulators follow’ in crackdown on crypto giants
3AC co-founder ordered to respond to bankruptcy subpoena
A US bankruptcy court ordered Three Arrows Capital co-founder Kyle Davies to respond to a subpoena within two weeks on Thursday.
Davies and fellow 3AC co-founder Su Zhu — who remain abroad following the collapse of their hedge fund in 2022 — were initially subpoenaed by the court in February via twitter, though neither responded publicly.
The 3AC collapse is alleged to be the result of highly leveraged trades that went sour, which in turn may have caused the failures of Celsius Network, Voyager Digital, and others.
NOW READ: Traders brace for Bitcoin ‘fireworks’ as $4b in options set to expire
"If you think about why people are angry, it has nothing to do with me actually. People are angry because the market went down."
— Tim Copeland (@Timccopeland) March 24, 2023
- 3AC co-founder Kyle Davies
Proposed Bitcoin ETF dares to register with SEC
Another proposed Bitcoin ETF is taking a stab at SEC approval, though commentators believe its prospects are slim.
The 2X Bitcoin Strategy ETF was proposed Wednesday by issuer Volatility Shares, and as the name suggests, would seek to double the potential upside of a standard Bitcoin ETF.
Though the SEC has invited crypto companies to register to avoid enforcement, the agency has turned down many crypto ETFs so far.
NOW READ: Traders brace for Bitcoin ‘fireworks’ as $4b in options set to expire
Aave headed for launch on Polygon’s zkEVM network
DeFi protocol Aave will launch on Polygon’s new zkEVM layer 2 network, provided it passes an upcoming on-chain vote.
The expansion to Polygon’s new layer 2 is not necessarily a surprise, as Aave has existed on Polygon’s testnet for six months of preparation, but a recent positive Aave community poll means full steam ahead for the final governance vote.
Polygon launched its zkEVM beta on March 27, marking one of the first — and largest — so-called “zero knowledge proof” layer 2 scaling solutions to come to the Ethereum network.
Zero knowledge proofs have been touted as a serious competitor to existing “optimistic” scaling technology, such as the kind used by leading layer twos Arbitrum and Optimism.
More web3 news from around the web...
Governance tokens might come with legal liability, US judge says – The Defiant
Magic Eden’s new Bitcoin NFT marketplace dominates Ordinals market – Decrypt
Banks warier of serving crypto clients after blowups, scrutiny – Bloomberg
