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Galaxy Digital CEO Mike Novogratz believes Binance has satisfied regulators and users after its $4.3 billion settlement with United States authorities. Binance’s $4.3 billion settlement  with the United States Department of Justice (DOJ) is being hailed as a positive move for the company and the wider cryptocurrency industry , according to Galaxy Digital’s Mike Novogratz. In an interview with Bloomberg on Nov. 29, the CEO of the cryptocurrency investment firm expressed his belief that the high-profile settlement should assuage concerned investors and users of the global exchange: “I think they’re de-risked in lots of ways. People were worried about dealing with Binance. There’s a lot less to worry about now.” Novogratz also weighed in on the considerations for major investment firms dealing with exchanges, as well as traditional finance (TradFi) players, with regulatory oversight continuing to take center stage in the United States. Binance didn’t steal money The Galaxy Digital CEO ...

Swan co-founder Yan Pritzker said the firm is pro-privacy and doesn’t oppose customers’ use of such services, but to work, it has to follow FinCEN regulations. Bitcoin services platform Swan Bitcoin warned its customers that it would be forced to terminate accounts found interacting with crypto-mixing due to the regulatory obligations of its partner banks.  Customers were informed about the policy in a letter suggesting the changes are due to the Financial Crimes Enforcement Network (FinCEN) proposed rule establishing new responsibilities on firms processing transactions from mixing services . On Nov. 12, the co-founder of the firm, Yan Pritzker, took to X (formerly Twitter) to explain that although the firm is not against the use of privacy mixing tools and services, it has to adhere to the obligations of its partner banking institutions. Pritzker said that the proposed FinCEN rule is poorly written and covers a huge amount of Bitcoin-related activities, such as using BTC addresses ...

According to some experts, miners will always be essential to the Bitcoin ecosystem, even after mining the last coins. Satoshi Nakamoto mined the genesis block on Jan. 3, 2009, minting the first 50 Bitcoin (BTC) in history and kicking off what would become a billion-dollar industry centered around mining crypto. However, with a cap on Bitcoin supply, the fate of miners after the last coins are issued is unclear.  Bitcoin is created through mining, a process involving computer hardware to solve complex mathematical problems and verify transactions on the blockchain network. For their efforts, miners are rewarded with a predeter mined amount of BTC for each block of transactions. According to the Blockchain Council, more than 19 million BTC has been awarded to miners in block rewards, and according to Nakamoto’s white paper, only 21 million are available. Once this cap is reached, miners will no longer receive rewards for verifying transactions. Speaking to Cointelegraph, Nick Hansen,...

RFK Jr. said he will use Bitcoin to stabilize the U.S. dollar as well as make Bitcoin profits exempt from capital gains tax. Democratic presidential candidate Robert F. Kennedy Jr. has promised to progressively back the United States dollar with Bitcoin (BTC) if he is elected president.  Speaking at a July 19 Heal-the-Divide PAC event, Kennedy claimed that backing the U.S. dollar with what he called "hard currency," including gold, silver, platinum or Bitcoin, could help to re-stabilize the American economy. "Backing dollars and U.S. debt obligations with hard assets could help restore strength back to the dollar, rein in inflation and usher in a new era of American financial stability, peace and prosperity.” Kennedy explained the process would be gradual and depending on the plan’s success he’d adjust the amount of backing for the dollar. “My plan would be to start very, very small, perhaps 1% of issued T-bills would be backed by hard currency, by gold, silver platinu...

Investment managers WisdomTree and Invesco have filed for spot Bitcoin ETFs, hot on the heels of BlackRock. At least two investment firms have made new filing s for spot Bitcoin exchange-traded funds (ETF) following investment colossus BlackRock’s move to lodge a similar application for its own spot Bitcoin ETF on June 15.  New York-based asset management fund WisdomTree is the most recent investment firm to lodge a new filing for a spot Bitcoin ETF. According to a June 21 filing to the United States Securities and Exchange Commission (SEC), WisdomTree requested that the SEC allow it to list its “WisdomTree Bitcoin Trust” on the Cboe BZX Exchange under the ticker “BTCW.” WisdomTree has filed for spot bitcoin ETF h/t @NateGeraci pic.twitter.com/JwXj8rTs2X — Eric Balchunas (@EricBalchunas) June 20, 2023 WisdomTree has applied for a spot Bitcoin ETF twice before. Its first application was rejected by the SEC in December 2021. It's second application was rejected once again in Oct...