\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Mt. Gox And Bitcoin Hacking<\/h2>\n\n\n\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Recently, the German Federal Criminal Police Office (BKA) began moving thousands of BTC to exchanges like Kraken, Coinbase, and Bitstamp, reducing the wallet\u2019s holdings to 9,094 BTC. Arkham Intelligence showed that the wallet address is currently worth more than $516 million.<\/p>\n\n\n\n

Mt. Gox And Bitcoin Hacking<\/h2>\n\n\n\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 3 4 5 6 7 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a>.<\/p>\n\n\n\n

Recently, the German Federal Criminal Police Office (BKA) began moving thousands of BTC to exchanges like Kraken, Coinbase, and Bitstamp, reducing the wallet\u2019s holdings to 9,094 BTC. Arkham Intelligence showed that the wallet address is currently worth more than $516 million.<\/p>\n\n\n\n

Mt. Gox And Bitcoin Hacking<\/h2>\n\n\n\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

\"The general prosecutor's office of Saxony is responsible for liquidating confiscated assets, and the sell-off is hardly surprising,\" said Dr. Lennart Ante, co-founder and CEO of German-based Blockchain Research Lab. \"Seized assets are always liquidated within a certain period. This is a routine business process, although at a larger-than-normal scale.\"<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a>.<\/p>\n\n\n\n

Recently, the German Federal Criminal Police Office (BKA) began moving thousands of BTC to exchanges like Kraken, Coinbase, and Bitstamp, reducing the wallet\u2019s holdings to 9,094 BTC. Arkham Intelligence showed that the wallet address is currently worth more than $516 million.<\/p>\n\n\n\n

Mt. Gox And Bitcoin Hacking<\/h2>\n\n\n\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

After confiscating nearly $3 billion worth of Bitcoin in January, the state of Saxony has sold over half of its initial holdings, causing market turmoil. The state, located in eastern Germany, seized 49,857 BTC<\/a> from Movie2k.to<\/a> for money laundering and other crimes. In line with standard procedure for assets seized in criminal cases, Saxony has been liquidating these holdings.<\/p>\n\n\n\n

\"The general prosecutor's office of Saxony is responsible for liquidating confiscated assets, and the sell-off is hardly surprising,\" said Dr. Lennart Ante, co-founder and CEO of German-based Blockchain Research Lab. \"Seized assets are always liquidated within a certain period. This is a routine business process, although at a larger-than-normal scale.\"<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a>.<\/p>\n\n\n\n

Recently, the German Federal Criminal Police Office (BKA) began moving thousands of BTC to exchanges like Kraken, Coinbase, and Bitstamp, reducing the wallet\u2019s holdings to 9,094 BTC. Arkham Intelligence showed that the wallet address is currently worth more than $516 million.<\/p>\n\n\n\n

Mt. Gox And Bitcoin Hacking<\/h2>\n\n\n\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Reports of Germany selling millions in Bitcoin have been widespread, but Saxony is making the sales. Despite criticism from the crypto community, Saxony has no choice but to proceed with the sale.<\/p>\n\n\n\n

After confiscating nearly $3 billion worth of Bitcoin in January, the state of Saxony has sold over half of its initial holdings, causing market turmoil. The state, located in eastern Germany, seized 49,857 BTC<\/a> from Movie2k.to<\/a> for money laundering and other crimes. In line with standard procedure for assets seized in criminal cases, Saxony has been liquidating these holdings.<\/p>\n\n\n\n

\"The general prosecutor's office of Saxony is responsible for liquidating confiscated assets, and the sell-off is hardly surprising,\" said Dr. Lennart Ante, co-founder and CEO of German-based Blockchain Research Lab. \"Seized assets are always liquidated within a certain period. This is a routine business process, although at a larger-than-normal scale.\"<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a>.<\/p>\n\n\n\n

Recently, the German Federal Criminal Police Office (BKA) began moving thousands of BTC to exchanges like Kraken, Coinbase, and Bitstamp, reducing the wallet\u2019s holdings to 9,094 BTC. Arkham Intelligence showed that the wallet address is currently worth more than $516 million.<\/p>\n\n\n\n

Mt. Gox And Bitcoin Hacking<\/h2>\n\n\n\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

At the time of writing, the price of BTC is trading at $64.5k which is a 2.5% decline from the past 2 days.<\/p>\n","post_title":"Mt. Gox Begins Repaying Creditors, Moves $2.5 Billion In BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-begins-repaying-creditors-moves-2-5-billion-in-btc","to_ping":"","pinged":"","post_modified":"2024-07-26 21:53:15","post_modified_gmt":"2024-07-26 11:53:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17973","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17796,"post_author":"15","post_date":"2024-07-15 03:08:48","post_date_gmt":"2024-07-14 17:08:48","post_content":"\n

Reports of Germany selling millions in Bitcoin have been widespread, but Saxony is making the sales. Despite criticism from the crypto community, Saxony has no choice but to proceed with the sale.<\/p>\n\n\n\n

After confiscating nearly $3 billion worth of Bitcoin in January, the state of Saxony has sold over half of its initial holdings, causing market turmoil. The state, located in eastern Germany, seized 49,857 BTC<\/a> from Movie2k.to<\/a> for money laundering and other crimes. In line with standard procedure for assets seized in criminal cases, Saxony has been liquidating these holdings.<\/p>\n\n\n\n

\"The general prosecutor's office of Saxony is responsible for liquidating confiscated assets, and the sell-off is hardly surprising,\" said Dr. Lennart Ante, co-founder and CEO of German-based Blockchain Research Lab. \"Seized assets are always liquidated within a certain period. This is a routine business process, although at a larger-than-normal scale.\"<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a>.<\/p>\n\n\n\n

Recently, the German Federal Criminal Police Office (BKA) began moving thousands of BTC to exchanges like Kraken, Coinbase, and Bitstamp, reducing the wallet\u2019s holdings to 9,094 BTC. Arkham Intelligence showed that the wallet address is currently worth more than $516 million.<\/p>\n\n\n\n

Mt. Gox And Bitcoin Hacking<\/h2>\n\n\n\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n

Many recipients are transferring their recovered assets to self-custody wallets instead of cashing out immediately.<\/p>\n\n\n\n

At the time of writing, the price of BTC is trading at $64.5k which is a 2.5% decline from the past 2 days.<\/p>\n","post_title":"Mt. Gox Begins Repaying Creditors, Moves $2.5 Billion In BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-begins-repaying-creditors-moves-2-5-billion-in-btc","to_ping":"","pinged":"","post_modified":"2024-07-26 21:53:15","post_modified_gmt":"2024-07-26 11:53:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17973","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17796,"post_author":"15","post_date":"2024-07-15 03:08:48","post_date_gmt":"2024-07-14 17:08:48","post_content":"\n

Reports of Germany selling millions in Bitcoin have been widespread, but Saxony is making the sales. Despite criticism from the crypto community, Saxony has no choice but to proceed with the sale.<\/p>\n\n\n\n

After confiscating nearly $3 billion worth of Bitcoin in January, the state of Saxony has sold over half of its initial holdings, causing market turmoil. The state, located in eastern Germany, seized 49,857 BTC<\/a> from Movie2k.to<\/a> for money laundering and other crimes. In line with standard procedure for assets seized in criminal cases, Saxony has been liquidating these holdings.<\/p>\n\n\n\n

\"The general prosecutor's office of Saxony is responsible for liquidating confiscated assets, and the sell-off is hardly surprising,\" said Dr. Lennart Ante, co-founder and CEO of German-based Blockchain Research Lab. \"Seized assets are always liquidated within a certain period. This is a routine business process, although at a larger-than-normal scale.\"<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a>.<\/p>\n\n\n\n

Recently, the German Federal Criminal Police Office (BKA) began moving thousands of BTC to exchanges like Kraken, Coinbase, and Bitstamp, reducing the wallet\u2019s holdings to 9,094 BTC. Arkham Intelligence showed that the wallet address is currently worth more than $516 million.<\/p>\n\n\n\n

Mt. Gox And Bitcoin Hacking<\/h2>\n\n\n\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Data <\/a>from CryptoQuant shows a significant increase in Bitcoin withdrawals from Kraken, one of the exchanges managing the repayments. Over the past 24 hours, more than 5,000 BTC, worth about $329 million, has been withdrawn.<\/p>\n\n\n\n

Many recipients are transferring their recovered assets to self-custody wallets instead of cashing out immediately.<\/p>\n\n\n\n

At the time of writing, the price of BTC is trading at $64.5k which is a 2.5% decline from the past 2 days.<\/p>\n","post_title":"Mt. Gox Begins Repaying Creditors, Moves $2.5 Billion In BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-begins-repaying-creditors-moves-2-5-billion-in-btc","to_ping":"","pinged":"","post_modified":"2024-07-26 21:53:15","post_modified_gmt":"2024-07-26 11:53:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17973","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17796,"post_author":"15","post_date":"2024-07-15 03:08:48","post_date_gmt":"2024-07-14 17:08:48","post_content":"\n

Reports of Germany selling millions in Bitcoin have been widespread, but Saxony is making the sales. Despite criticism from the crypto community, Saxony has no choice but to proceed with the sale.<\/p>\n\n\n\n

After confiscating nearly $3 billion worth of Bitcoin in January, the state of Saxony has sold over half of its initial holdings, causing market turmoil. The state, located in eastern Germany, seized 49,857 BTC<\/a> from Movie2k.to<\/a> for money laundering and other crimes. In line with standard procedure for assets seized in criminal cases, Saxony has been liquidating these holdings.<\/p>\n\n\n\n

\"The general prosecutor's office of Saxony is responsible for liquidating confiscated assets, and the sell-off is hardly surprising,\" said Dr. Lennart Ante, co-founder and CEO of German-based Blockchain Research Lab. \"Seized assets are always liquidated within a certain period. This is a routine business process, although at a larger-than-normal scale.\"<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a>.<\/p>\n\n\n\n

Recently, the German Federal Criminal Police Office (BKA) began moving thousands of BTC to exchanges like Kraken, Coinbase, and Bitstamp, reducing the wallet\u2019s holdings to 9,094 BTC. Arkham Intelligence showed that the wallet address is currently worth more than $516 million.<\/p>\n\n\n\n

Mt. Gox And Bitcoin Hacking<\/h2>\n\n\n\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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CryptoQuant Data And Bitcoin Withdrawals<\/h2>\n\n\n\n

Data <\/a>from CryptoQuant shows a significant increase in Bitcoin withdrawals from Kraken, one of the exchanges managing the repayments. Over the past 24 hours, more than 5,000 BTC, worth about $329 million, has been withdrawn.<\/p>\n\n\n\n

Many recipients are transferring their recovered assets to self-custody wallets instead of cashing out immediately.<\/p>\n\n\n\n

At the time of writing, the price of BTC is trading at $64.5k which is a 2.5% decline from the past 2 days.<\/p>\n","post_title":"Mt. Gox Begins Repaying Creditors, Moves $2.5 Billion In BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-begins-repaying-creditors-moves-2-5-billion-in-btc","to_ping":"","pinged":"","post_modified":"2024-07-26 21:53:15","post_modified_gmt":"2024-07-26 11:53:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17973","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17796,"post_author":"15","post_date":"2024-07-15 03:08:48","post_date_gmt":"2024-07-14 17:08:48","post_content":"\n

Reports of Germany selling millions in Bitcoin have been widespread, but Saxony is making the sales. Despite criticism from the crypto community, Saxony has no choice but to proceed with the sale.<\/p>\n\n\n\n

After confiscating nearly $3 billion worth of Bitcoin in January, the state of Saxony has sold over half of its initial holdings, causing market turmoil. The state, located in eastern Germany, seized 49,857 BTC<\/a> from Movie2k.to<\/a> for money laundering and other crimes. In line with standard procedure for assets seized in criminal cases, Saxony has been liquidating these holdings.<\/p>\n\n\n\n

\"The general prosecutor's office of Saxony is responsible for liquidating confiscated assets, and the sell-off is hardly surprising,\" said Dr. Lennart Ante, co-founder and CEO of German-based Blockchain Research Lab. \"Seized assets are always liquidated within a certain period. This is a routine business process, although at a larger-than-normal scale.\"<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a>.<\/p>\n\n\n\n

Recently, the German Federal Criminal Police Office (BKA) began moving thousands of BTC to exchanges like Kraken, Coinbase, and Bitstamp, reducing the wallet\u2019s holdings to 9,094 BTC. Arkham Intelligence showed that the wallet address is currently worth more than $516 million.<\/p>\n\n\n\n

Mt. Gox And Bitcoin Hacking<\/h2>\n\n\n\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a><\/p>\n\n\n\n

CryptoQuant Data And Bitcoin Withdrawals<\/h2>\n\n\n\n

Data <\/a>from CryptoQuant shows a significant increase in Bitcoin withdrawals from Kraken, one of the exchanges managing the repayments. Over the past 24 hours, more than 5,000 BTC, worth about $329 million, has been withdrawn.<\/p>\n\n\n\n

Many recipients are transferring their recovered assets to self-custody wallets instead of cashing out immediately.<\/p>\n\n\n\n

At the time of writing, the price of BTC is trading at $64.5k which is a 2.5% decline from the past 2 days.<\/p>\n","post_title":"Mt. Gox Begins Repaying Creditors, Moves $2.5 Billion In BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-begins-repaying-creditors-moves-2-5-billion-in-btc","to_ping":"","pinged":"","post_modified":"2024-07-26 21:53:15","post_modified_gmt":"2024-07-26 11:53:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17973","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17796,"post_author":"15","post_date":"2024-07-15 03:08:48","post_date_gmt":"2024-07-14 17:08:48","post_content":"\n

Reports of Germany selling millions in Bitcoin have been widespread, but Saxony is making the sales. Despite criticism from the crypto community, Saxony has no choice but to proceed with the sale.<\/p>\n\n\n\n

After confiscating nearly $3 billion worth of Bitcoin in January, the state of Saxony has sold over half of its initial holdings, causing market turmoil. The state, located in eastern Germany, seized 49,857 BTC<\/a> from Movie2k.to<\/a> for money laundering and other crimes. In line with standard procedure for assets seized in criminal cases, Saxony has been liquidating these holdings.<\/p>\n\n\n\n

\"The general prosecutor's office of Saxony is responsible for liquidating confiscated assets, and the sell-off is hardly surprising,\" said Dr. Lennart Ante, co-founder and CEO of German-based Blockchain Research Lab. \"Seized assets are always liquidated within a certain period. This is a routine business process, although at a larger-than-normal scale.\"<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a>.<\/p>\n\n\n\n

Recently, the German Federal Criminal Police Office (BKA) began moving thousands of BTC to exchanges like Kraken, Coinbase, and Bitstamp, reducing the wallet\u2019s holdings to 9,094 BTC. Arkham Intelligence showed that the wallet address is currently worth more than $516 million.<\/p>\n\n\n\n

Mt. Gox And Bitcoin Hacking<\/h2>\n\n\n\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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In early July, the defunct exchange began repaying creditors affected by the 2014 hack. Over $9 billion worth of BTC and $73 million of Bitcoin Cash (BCH) will be distributed to traders in the coming months.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a><\/p>\n\n\n\n

CryptoQuant Data And Bitcoin Withdrawals<\/h2>\n\n\n\n

Data <\/a>from CryptoQuant shows a significant increase in Bitcoin withdrawals from Kraken, one of the exchanges managing the repayments. Over the past 24 hours, more than 5,000 BTC, worth about $329 million, has been withdrawn.<\/p>\n\n\n\n

Many recipients are transferring their recovered assets to self-custody wallets instead of cashing out immediately.<\/p>\n\n\n\n

At the time of writing, the price of BTC is trading at $64.5k which is a 2.5% decline from the past 2 days.<\/p>\n","post_title":"Mt. Gox Begins Repaying Creditors, Moves $2.5 Billion In BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-begins-repaying-creditors-moves-2-5-billion-in-btc","to_ping":"","pinged":"","post_modified":"2024-07-26 21:53:15","post_modified_gmt":"2024-07-26 11:53:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17973","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17796,"post_author":"15","post_date":"2024-07-15 03:08:48","post_date_gmt":"2024-07-14 17:08:48","post_content":"\n

Reports of Germany selling millions in Bitcoin have been widespread, but Saxony is making the sales. Despite criticism from the crypto community, Saxony has no choice but to proceed with the sale.<\/p>\n\n\n\n

After confiscating nearly $3 billion worth of Bitcoin in January, the state of Saxony has sold over half of its initial holdings, causing market turmoil. The state, located in eastern Germany, seized 49,857 BTC<\/a> from Movie2k.to<\/a> for money laundering and other crimes. In line with standard procedure for assets seized in criminal cases, Saxony has been liquidating these holdings.<\/p>\n\n\n\n

\"The general prosecutor's office of Saxony is responsible for liquidating confiscated assets, and the sell-off is hardly surprising,\" said Dr. Lennart Ante, co-founder and CEO of German-based Blockchain Research Lab. \"Seized assets are always liquidated within a certain period. This is a routine business process, although at a larger-than-normal scale.\"<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a>.<\/p>\n\n\n\n

Recently, the German Federal Criminal Police Office (BKA) began moving thousands of BTC to exchanges like Kraken, Coinbase, and Bitstamp, reducing the wallet\u2019s holdings to 9,094 BTC. Arkham Intelligence showed that the wallet address is currently worth more than $516 million.<\/p>\n\n\n\n

Mt. Gox And Bitcoin Hacking<\/h2>\n\n\n\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\"\"
Mt. Gox currently holds $6 billion in BTC, down from $9 billion on July 10. BTC prices haven't moved much during this period.<\/figcaption><\/figure>\n\n\n\n

In early July, the defunct exchange began repaying creditors affected by the 2014 hack. Over $9 billion worth of BTC and $73 million of Bitcoin Cash (BCH) will be distributed to traders in the coming months.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a><\/p>\n\n\n\n

CryptoQuant Data And Bitcoin Withdrawals<\/h2>\n\n\n\n

Data <\/a>from CryptoQuant shows a significant increase in Bitcoin withdrawals from Kraken, one of the exchanges managing the repayments. Over the past 24 hours, more than 5,000 BTC, worth about $329 million, has been withdrawn.<\/p>\n\n\n\n

Many recipients are transferring their recovered assets to self-custody wallets instead of cashing out immediately.<\/p>\n\n\n\n

At the time of writing, the price of BTC is trading at $64.5k which is a 2.5% decline from the past 2 days.<\/p>\n","post_title":"Mt. Gox Begins Repaying Creditors, Moves $2.5 Billion In BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-begins-repaying-creditors-moves-2-5-billion-in-btc","to_ping":"","pinged":"","post_modified":"2024-07-26 21:53:15","post_modified_gmt":"2024-07-26 11:53:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17973","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17796,"post_author":"15","post_date":"2024-07-15 03:08:48","post_date_gmt":"2024-07-14 17:08:48","post_content":"\n

Reports of Germany selling millions in Bitcoin have been widespread, but Saxony is making the sales. Despite criticism from the crypto community, Saxony has no choice but to proceed with the sale.<\/p>\n\n\n\n

After confiscating nearly $3 billion worth of Bitcoin in January, the state of Saxony has sold over half of its initial holdings, causing market turmoil. The state, located in eastern Germany, seized 49,857 BTC<\/a> from Movie2k.to<\/a> for money laundering and other crimes. In line with standard procedure for assets seized in criminal cases, Saxony has been liquidating these holdings.<\/p>\n\n\n\n

\"The general prosecutor's office of Saxony is responsible for liquidating confiscated assets, and the sell-off is hardly surprising,\" said Dr. Lennart Ante, co-founder and CEO of German-based Blockchain Research Lab. \"Seized assets are always liquidated within a certain period. This is a routine business process, although at a larger-than-normal scale.\"<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a>.<\/p>\n\n\n\n

Recently, the German Federal Criminal Police Office (BKA) began moving thousands of BTC to exchanges like Kraken, Coinbase, and Bitstamp, reducing the wallet\u2019s holdings to 9,094 BTC. Arkham Intelligence showed that the wallet address is currently worth more than $516 million.<\/p>\n\n\n\n

Mt. Gox And Bitcoin Hacking<\/h2>\n\n\n\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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According to Arkham data,<\/a> Mt. Gox moved 37,400 BTC worth $2.5 billion from its main wallet to a new one labeled \"12Gws9E,\" and an additional $300 million to an existing cold wallet. Another $300 million was moved to wallet \"1MzhW,\" with $130 million transferred to the crypto exchange Bitstamp.<\/p>\n\n\n\n

\"\"
Mt. Gox currently holds $6 billion in BTC, down from $9 billion on July 10. BTC prices haven't moved much during this period.<\/figcaption><\/figure>\n\n\n\n

In early July, the defunct exchange began repaying creditors affected by the 2014 hack. Over $9 billion worth of BTC and $73 million of Bitcoin Cash (BCH) will be distributed to traders in the coming months.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a><\/p>\n\n\n\n

CryptoQuant Data And Bitcoin Withdrawals<\/h2>\n\n\n\n

Data <\/a>from CryptoQuant shows a significant increase in Bitcoin withdrawals from Kraken, one of the exchanges managing the repayments. Over the past 24 hours, more than 5,000 BTC, worth about $329 million, has been withdrawn.<\/p>\n\n\n\n

Many recipients are transferring their recovered assets to self-custody wallets instead of cashing out immediately.<\/p>\n\n\n\n

At the time of writing, the price of BTC is trading at $64.5k which is a 2.5% decline from the past 2 days.<\/p>\n","post_title":"Mt. Gox Begins Repaying Creditors, Moves $2.5 Billion In BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-begins-repaying-creditors-moves-2-5-billion-in-btc","to_ping":"","pinged":"","post_modified":"2024-07-26 21:53:15","post_modified_gmt":"2024-07-26 11:53:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17973","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17796,"post_author":"15","post_date":"2024-07-15 03:08:48","post_date_gmt":"2024-07-14 17:08:48","post_content":"\n

Reports of Germany selling millions in Bitcoin have been widespread, but Saxony is making the sales. Despite criticism from the crypto community, Saxony has no choice but to proceed with the sale.<\/p>\n\n\n\n

After confiscating nearly $3 billion worth of Bitcoin in January, the state of Saxony has sold over half of its initial holdings, causing market turmoil. The state, located in eastern Germany, seized 49,857 BTC<\/a> from Movie2k.to<\/a> for money laundering and other crimes. In line with standard procedure for assets seized in criminal cases, Saxony has been liquidating these holdings.<\/p>\n\n\n\n

\"The general prosecutor's office of Saxony is responsible for liquidating confiscated assets, and the sell-off is hardly surprising,\" said Dr. Lennart Ante, co-founder and CEO of German-based Blockchain Research Lab. \"Seized assets are always liquidated within a certain period. This is a routine business process, although at a larger-than-normal scale.\"<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a>.<\/p>\n\n\n\n

Recently, the German Federal Criminal Police Office (BKA) began moving thousands of BTC to exchanges like Kraken, Coinbase, and Bitstamp, reducing the wallet\u2019s holdings to 9,094 BTC. Arkham Intelligence showed that the wallet address is currently worth more than $516 million.<\/p>\n\n\n\n

Mt. Gox And Bitcoin Hacking<\/h2>\n\n\n\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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The defunct crypto exchange Mt. Gox transferred Bitcoin to different wallets on Wednesday.<\/p>\n\n\n\n

According to Arkham data,<\/a> Mt. Gox moved 37,400 BTC worth $2.5 billion from its main wallet to a new one labeled \"12Gws9E,\" and an additional $300 million to an existing cold wallet. Another $300 million was moved to wallet \"1MzhW,\" with $130 million transferred to the crypto exchange Bitstamp.<\/p>\n\n\n\n

\"\"
Mt. Gox currently holds $6 billion in BTC, down from $9 billion on July 10. BTC prices haven't moved much during this period.<\/figcaption><\/figure>\n\n\n\n

In early July, the defunct exchange began repaying creditors affected by the 2014 hack. Over $9 billion worth of BTC and $73 million of Bitcoin Cash (BCH) will be distributed to traders in the coming months.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a><\/p>\n\n\n\n

CryptoQuant Data And Bitcoin Withdrawals<\/h2>\n\n\n\n

Data <\/a>from CryptoQuant shows a significant increase in Bitcoin withdrawals from Kraken, one of the exchanges managing the repayments. Over the past 24 hours, more than 5,000 BTC, worth about $329 million, has been withdrawn.<\/p>\n\n\n\n

Many recipients are transferring their recovered assets to self-custody wallets instead of cashing out immediately.<\/p>\n\n\n\n

At the time of writing, the price of BTC is trading at $64.5k which is a 2.5% decline from the past 2 days.<\/p>\n","post_title":"Mt. Gox Begins Repaying Creditors, Moves $2.5 Billion In BTC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-begins-repaying-creditors-moves-2-5-billion-in-btc","to_ping":"","pinged":"","post_modified":"2024-07-26 21:53:15","post_modified_gmt":"2024-07-26 11:53:15","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17973","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17796,"post_author":"15","post_date":"2024-07-15 03:08:48","post_date_gmt":"2024-07-14 17:08:48","post_content":"\n

Reports of Germany selling millions in Bitcoin have been widespread, but Saxony is making the sales. Despite criticism from the crypto community, Saxony has no choice but to proceed with the sale.<\/p>\n\n\n\n

After confiscating nearly $3 billion worth of Bitcoin in January, the state of Saxony has sold over half of its initial holdings, causing market turmoil. The state, located in eastern Germany, seized 49,857 BTC<\/a> from Movie2k.to<\/a> for money laundering and other crimes. In line with standard procedure for assets seized in criminal cases, Saxony has been liquidating these holdings.<\/p>\n\n\n\n

\"The general prosecutor's office of Saxony is responsible for liquidating confiscated assets, and the sell-off is hardly surprising,\" said Dr. Lennart Ante, co-founder and CEO of German-based Blockchain Research Lab. \"Seized assets are always liquidated within a certain period. This is a routine business process, although at a larger-than-normal scale.\"<\/p>\n\n\n\n

See Related: <\/em><\/strong>Mt. Gox Starts Paying Back Creditors In Bitcoin After 10-Year Wait<\/a>.<\/p>\n\n\n\n

Recently, the German Federal Criminal Police Office (BKA) began moving thousands of BTC to exchanges like Kraken, Coinbase, and Bitstamp, reducing the wallet\u2019s holdings to 9,094 BTC. Arkham Intelligence showed that the wallet address is currently worth more than $516 million.<\/p>\n\n\n\n

Mt. Gox And Bitcoin Hacking<\/h2>\n\n\n\n

Mt. Gox was one of the largest cryptocurrency exchanges, based in Japan, which collapsed in 2014<\/a>. The exchange lost approximately 850,000 Bitcoins (BTC) to hacking and mismanagement. At its peak, it handled around 70% of all Bitcoin transactions worldwide.<\/p>\n\n\n\n

The exchange currently holds around 142,000 BTC and other assets recovered from the collapse. The distribution of these assets<\/a> is expected to start in the second half of 2024. This large-scale distribution could significantly affect Bitcoin's price by increasing market supply.<\/p>\n","post_title":"Not Germany, But Saxony: The State Behind The Massive Bitcoin Liquidation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"not-germany-but-saxony-the-state-behind-the-massive-bitcoin-liquidation","to_ping":"","pinged":"","post_modified":"2024-07-15 03:08:52","post_modified_gmt":"2024-07-14 17:08:52","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17796","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17736,"post_author":"15","post_date":"2024-07-09 21:59:22","post_date_gmt":"2024-07-09 11:59:22","post_content":"\n

The President of the Central Bank of the Republic of China shared <\/a>that developing a central bank digital currency (CBDC) is not a race. Instead, the central bank should prioritize steady progress over speed.<\/p>\n\n\n\n

President Yang Jinlong highlighted that being the first to launch a CBDC does not guarantee success, as countries that have already issued or tested CBDCs have not achieved the expected outcomes.<\/p>\n\n\n\n

Yang stated that the central bank is experimenting with three scenarios to boost domestic payment efficiency and innovation. There is no set timeline for issuing a CBDC but efforts to enhance and innovativate are ongoing.<\/p>\n\n\n\n

One notable development is the CBDC prototype platform designed for retail payments. Yang mentioned that this platform could handle the cash flow operation of digital coupons, with transaction speeds reaching 20,000 transactions per second.<\/p>\n\n\n\n

See Related: <\/em><\/strong>The FTX Bankruptcy Crisis: Solana Volatility Is Back But Remains Under Loads Of Doubts Over Its Long-Term Future<\/a><\/p>\n\n\n\n

Yang reiterated that Taiwan\u2019s cautious approach to issuing a CBDC is meant to meet public digital payment needs and align with government digital policy goals, ensuring significant benefits.<\/p>\n\n\n\n

In March, the Financial Supervisory Commission announced plans to propose new digital asset regulations for Taiwan by September 2024, aiming to create more effective regulations for digital asset markets and ensure investor safety.<\/p>\n\n\n\n

North Carolina Vetoed The CBDC Ban Bill<\/h2>\n\n\n\n

North Carolina Governor Roy Cooper has rejected <\/a>a bill banning the state from using a US Federal Reserve-issued CBDC. The bill had strong support from the state\u2019s House of Representatives and Senate with a vote of 109-4 and 39-5 respectively.<\/p>\n\n\n\n

Governor Cooper is criticized for deciding without putting \u201cpartisan politics aside\u201d. The bill is said to benefit all North Carolina residents, but the Governor believes that the bill was too \u201cpremature, vague, and reactionary\u201d to be signed into law.<\/p>\n\n\n\n

Since the vote was more than three-fifths majority in both chambers, the North Carolina legislators could override Governor Cooper's veto. <\/p>\n","post_title":"Taiwan's Central Bank Focuses On Slow And Steady Development Of CBDC","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"taiwans-central-bank-focuses-on-slow-and-steady-development-of-cbdc","to_ping":"","pinged":"","post_modified":"2024-07-09 21:59:28","post_modified_gmt":"2024-07-09 11:59:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17736","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17517,"post_author":"15","post_date":"2024-06-24 01:43:03","post_date_gmt":"2024-06-23 15:43:03","post_content":"\n

The billionaire Winklevoss twins were refunded after their Bitcoin donations to Donald Trump's presidential campaign. The donations were said to exceed the maximum legal amount.<\/p>\n\n\n\n

A Bloomberg report <\/a>indicated that the excess donations were refunded, citing an anonymous campaign official.<\/p>\n\n\n\n

The twins had individually announced<\/a> donations totaling $2 million in Bitcoin on social media. It surpasses the $844,600 per person legal limit that the Trump committee can accept.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/tyler\/status\/1803872859938549920\n<\/div><\/figure>\n\n\n\n

It is unclear if the Trump 47 Committee, which usually handles larger contributions, returned the excess amount in Bitcoin or converted it to cash.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Pledges To Accept Cryptocurrency For Campaign Donations<\/a><\/p>\n\n\n\n

The report states that the donations are distributed among Trump\u2019s campaign, a political action committee covering his legal expenses, the Republican National Committee, and 42 GOP state party committees.<\/p>\n\n\n\n

Donald Trump Accepts Crypto Donations<\/h2>\n\n\n\n

On May 21, Donald J. Trump's presidential campaign began accepting crypto donations. On the website<\/a>, you can choose between Coinbase, Gemini, or Anedot. Crypto that was accepted includes BTC, ETH, SOL, USDC, XRP, DOGE, ZRX, and SHIB.<\/p>\n\n\n\n

Donald Trump\u2019s embrace of cryptocurrency donations for his presidential campaign marks a significant shift in his approach to digital assets. This acceptance aligns with a broader trend among political candidates seeking to attract support from the growing crypto industry.<\/p>\n","post_title":"Winklevoss Twins Refunded After Bitcoin Donations Exceed Legal Limits For Trump Campaign","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"winklevoss-twins-refunded-after-bitcoin-donations-exceed-legal-limits-for-trump-campaign","to_ping":"","pinged":"","post_modified":"2024-06-24 01:43:07","post_modified_gmt":"2024-06-23 15:43:07","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17517","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17454,"post_author":"15","post_date":"2024-06-20 22:17:31","post_date_gmt":"2024-06-20 12:17:31","post_content":"\n

Consensys announced <\/a>that the US Securities and Exchange Commission (SEC) has officially ended its investigation into the blockchain ecosystem. Consensys is a blockchain technology company focused on building decentralized applications (dApps) and tools primarily for the Ethereum blockchain.<\/p>\n\n\n\n

\"Today we\u2019re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,\u201d the company posted.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Consensys\/status\/1803230653120659641\n<\/div><\/figure>\n\n\n\n

\"This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.\"<\/em><\/p>\n\n\n\n

See Related:<\/em><\/strong> MetaMask Hit With Cyberattack; 7000 User's Emails Threatened<\/a><\/p>\n\n\n\n

Consensys filed a lawsuit against the SEC in April. The company complained that the SEC was attempting \"to regulate ETH as a security, even though ETH bears none of the attributes of a security\u2014and even though the SEC has previously told the world that ETH is not a security, and not within the SEC\u2019s statutory jurisdiction.\"<\/p>\n\n\n\n

The lawsuit revealed that Consensys had received a Wells notice from the SEC, indicating the agency's intent to sue. Consensys, which owns popular web3 infrastructure like the crypto wallet MetaMask and API provider Infura, was founded by Ethereum co-founder Joe Lubin.<\/p>\n\n\n\n

The Reason Behind The Move<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) approved the first Ethereum (ETH) spot ETFs on May 23, 2024. This means that the SEC is considering that Ethereum is not a security. <\/p>\n\n\n\n

On June 7, Consensys sent a letter asking the SEC to confirm that the ETH ETF approval in May has classified ETH as a commodity. Which then suggests that the agency would close its investigation on Ethereum 2.0. <\/p>\n","post_title":"Consensys Announces Major Win As SEC Ends Ethereum 2.0 Investigation","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"consensys-announces-major-win-as-sec-ends-ethereum-2-0-investigation","to_ping":"","pinged":"","post_modified":"2024-06-20 22:17:36","post_modified_gmt":"2024-06-20 12:17:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17454","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17393,"post_author":"15","post_date":"2024-06-19 23:29:33","post_date_gmt":"2024-06-19 13:29:33","post_content":"\n

MicroStrategy announced that the company planned to issue $500 million worth of unsecured senior convertible notes. The funds will be used for purchasing Bitcoin and for general corporate purposes. <\/p>\n\n\n\n

Later this week, the company stated it could potentially raise up to $786 million from the offering if initial purchasers opt to buy additional notes. Before this announcement, MicroStrategy has a total holdings of 214,400 BTC. The company now owns over 1% of Bitcoin's total supply, which is capped at 21 million BTC.<\/p>\n\n\n\n

The notes will bear an annual interest rate of 2.25%, payable semi-annually on June 15 and December 15, beginning this December. They will mature in June 2032, unless previously repurchased, redeemed, or converted.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings<\/a><\/p>\n\n\n\n

Semler Scientific Announcement<\/h2>\n\n\n\n

Semler Scientific, a healthcare tech firm, announced last week that it purchased 247 BTC for $17 million. They also said that the company plans to raise $150 million using debt securities and common stocks to raise its bitcoin holdings.<\/p>\n\n\n\n

Metaplanet, a Japanese investment firm, shared that<\/a> the company now held 141 BTC since April. The strategic move is said to hedge against Japan's debt. The company plans to acquire more bitcoin by issuing long-dated yen liabilities when the opportunity arises.<\/p>\n\n\n\n

Both companies are consistently buying Bitcoin and trying to leverage debts to acquire more BTC.<\/p>\n","post_title":"MicroStrategy Aims For $786 Million In Bitcoin Investment With Convertible Notes","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"microstrategy-aims-for-786-million-in-bitcoin-investment-with-convertible-notes","to_ping":"","pinged":"","post_modified":"2024-06-19 23:29:36","post_modified_gmt":"2024-06-19 13:29:36","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17393","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17274,"post_author":"15","post_date":"2024-06-10 03:38:09","post_date_gmt":"2024-06-09 17:38:09","post_content":"\n

Nasdaq-listed healthcare tech firm Semler Scientific announced <\/a>on Thursday its purchase of 247 bitcoins for $17 million in cash. The company plans to raise $150 million to further increase its bitcoin holdings.<\/p>\n\n\n\n

Currently, Semler Scientific has a total of 828 BTC. The average price when acquired was $57 million and is now valued at nearly $59 million at bitcoin's current price.<\/p>\n\n\n\n

\"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,\" said Semler Scientific's chief executive officer, in a release. \"The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.\"<\/em><\/p>\n\n\n\n

\"We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability,\" <\/em>the filing stated, adding that the company does not plan to buy other cryptocurrencies.<\/p>\n\n\n\n

The company acknowledged bitcoin's volatility in the filing, noting that future price fluctuations might result in converting bitcoin purchased with the raise's proceeds into cash worth significantly less than the initial proceeds.<\/p>\n\n\n\n

See Related: <\/em><\/strong>FTX Settles European Expansion Dispute For $33M<\/a><\/p>\n\n\n\n

MicroStrategy Bitcoin Expansion<\/h2>\n\n\n\n

In February 2024, MicroStrategy expanded its bitcoin holdings by acquiring an additional 3,000 BTC, bringing its total to 193,000 BTC. This purchase underscores the company's robust commitment to Bitcoin as a strategic asset.<\/p>\n\n\n\n

Shortly after that, on March 13, 2024, MicroStrategy announced a $500 million convertible debt offering. The funds raised are intended to further increase its bitcoin reserves.<\/p>\n","post_title":"Semler Scientific Announces $150 Million Fundraising To Boost Bitcoin Holdings","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"semler-scientific-announces-150-million-fundraising-to-boost-bitcoin-holdings","to_ping":"","pinged":"","post_modified":"2024-06-10 03:38:12","post_modified_gmt":"2024-06-09 17:38:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17164,"post_author":"15","post_date":"2024-06-07 01:58:38","post_date_gmt":"2024-06-06 15:58:38","post_content":"\n

A new survey from Grayscale indicates that a significant influx of money could enter Bitcoin and other cryptocurrencies once U.S. government regulations are clarified. According to the poll results<\/a> published on Tuesday, 44% of U.S. voters who don't currently own crypto are waiting for additional policies and regulations before investing.<\/p>\n\n\n\n

Grayscale noted in its report that there have been notable shifts in interest and perception regarding cryptocurrency ownership. The voters are considering crypto's role in the political landscape, especially as the 2024 U.S. election approaches.<\/p>\n\n\n\n

The survey revealed that 65% of respondents view having Bitcoin in their portfolio as \"an investment in the future of blockchain technology,\" 53% see it as \"a way to pay for things digitally,\" 43% consider it a \"speculative investment,\" and 36% regard Bitcoin as \"a digital form of gold or a hedge against inflation.\"<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/Grayscale\/status\/1795545634692624857\n<\/div><\/figure>\n\n\n\n

The Harris Poll surveyed for Grayscale between April 30 and May 2, gathering insights from 1,768 adult online respondents who plan to vote in the upcoming 2024 U.S. Presidential election.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected<\/a><\/p>\n\n\n\n

Grayscale's findings show that 47% of respondents expect to include crypto in their portfolios in the future, up from 40% in November. Interest in Bitcoin and other cryptocurrencies has risen to 41%, driven by geopolitical tensions, inflation, and a weakening U.S. dollar, compared to 34% six months ago.<\/p>\n\n\n\n

Millennial and Gen Z voters show strong interest, with 62% agreeing that crypto is the \"future of finance.\" This interest is partly due to the successful launch of U.S. spot Bitcoin ETFs in January, which have attracted $13.7 billion in net flows since their introduction. Nearly one-third of voters reported increased interest in crypto following the ETFs' regulatory approval.<\/p>\n\n\n\n

Crypto regulation status in the U.S.<\/h2>\n\n\n\n

Recent bipartisan support for pro-crypto legislation in the House and Senate underscores the growing acceptance of crypto's legitimacy. Ex-President Donald Trump has also shifted to a pro-crypto stance, pledging to protect citizens' rights to own Bitcoin against crypto-hostile opponents.<\/p>\n\n\n\n

On July 20, 2023, several U.S. Representatives, including Chairman Glenn \"GT\" Thompson and others, introduced H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (FIT21). Chairman Patrick McHenry also supports this bill. FIT21 aims to create clear federal rules for digital asset markets. It ensures strong consumer protections and regulatory clarity, helping the digital asset industry grow in the U.S. and maintaining America's leading role in global finance and innovation.<\/p>\n","post_title":"Survey Shows Rising Interest In Crypto Ahead Of 2024 Election, Says Grayscale","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"survey-shows-rising-interest-in-crypto-ahead-of-2024-election-says-grayscale","to_ping":"","pinged":"","post_modified":"2024-06-07 01:58:44","post_modified_gmt":"2024-06-06 15:58:44","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17164","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17113,"post_author":"15","post_date":"2024-05-29 19:51:36","post_date_gmt":"2024-05-29 09:51:36","post_content":"\n

Former U.S. President Donald Trump has promised to pardon Silk Road founder Ross Ulbricht if he wins the upcoming November election.<\/p>\n\n\n\n

\"If you vote for me, on day one I will commute the sentence of Ross Ulbricht,\" <\/em>Trump announced <\/a>at the Libertarian Party\u2019s National Convention in Washington on May 25. \"He's already served 11 years, we're going to get him home,\" <\/em>he added.<\/p>\n\n\n\n

Silk Road, launched in 2011, was operated by Ulbricht under the alias \u201cDread Pirate Roberts.\u201d The FBI seized his laptop on October 1, 2013, and Ulbricht was convicted in 2015 on multiple charges related to the Silk Road\u2019s operations. He received a sentence of two life terms plus forty years without the possibility of parole.<\/p>\n\n\n\n

See Related: <\/em><\/strong>Trump Drops Series 2 Of Digital Trading Card NFTs On Polygon<\/a><\/p>\n\n\n\n

Trump also highlighted his support for cryptocurrency, a shift from his previous critical stance on digital assets earlier this year. \"I will ensure that the future of crypto and Bitcoin is built in the USA, not pushed overseas,\" he said, pledging to protect those who hold crypto outside centralized exchanges.<\/p>\n\n\n\n

\"I will defend the right to self-custody for the nation's 50 million crypto holders. With your vote, I'll keep Elizabeth Warren and her allies away from your Bitcoin,\" <\/em>he added, marking a significant change from his previous comments labeling Bitcoin a scam during his presidency.<\/p>\n\n\n\n

More to Trump's Pro-Crypto stance<\/h2>\n\n\n\n

Former President Donald Trump has expressed strong support for cryptocurrency self-custody and has pledged to prevent the creation of a central bank digital currency (CBDC). Trump has promised to protect the rights of individuals to hold their crypto assets outside of centralized exchanges, stating that he will safeguard the interests of the nation\u2019s 50 million crypto holders. Additionally, he vowed to oppose the implementation of a CBDC, aligning his stance with the pro-crypto community and positioning himself against increasing governmental control over digital currencies.<\/p>\n","post_title":"Trump Vows To Pardon Silk Road Founder Ross Ulbricht If Re-Elected","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"trump-vows-to-pardon-silk-road-founder-ross-ulbricht-if-re-elected","to_ping":"","pinged":"","post_modified":"2024-05-29 19:51:41","post_modified_gmt":"2024-05-29 09:51:41","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17113","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17046,"post_author":"15","post_date":"2024-05-27 08:44:54","post_date_gmt":"2024-05-26 22:44:54","post_content":"\n

The Financial Innovation and Technology for the 21st Century Act (FIT21), also known as H.R. 4763, was passed <\/a>by the House on May 22. The bill received support from 71 Democrats and 208 Republicans, while 136 opposed it.<\/p>\n\n\n\n

The bill's future in the Senate remains unclear, especially since there is no companion bill and it faces opposition from prominent crypto critic Elizabeth Warren. Notably, the Senate recently passed a resolution to nullify a rule restricting banks and crypto firms from conducting business together.<\/p>\n\n\n\n

The Senate may take months to consider FIT21, as there is no deadline for action. If the Senate does consider it, the bill will likely be reviewed, subjected to hearings, and possibly revised by a committee. For it to pass, it needs a majority vote of 51 senators.<\/p>\n\n\n\n

If there are changes, House and Senate members will need to reconcile differences between their versions of the bill before it can be approved again by both chambers.<\/p>\n\n\n\n

Once the bill reaches President Biden, he will have ten days to sign or veto it. Although the administration expressed opposition to the bill on May 22, it did not explicitly state that Biden would veto it.<\/p>\n\n\n\n

If Biden vetoes FIT21, the House and Senate could override the veto with a two-thirds majority vote in both chambers.<\/p>\n\n\n\n

See Related: <\/em><\/strong>US Crypto Market At Crossroads As House Prepares To Vote On Bill<\/a><\/p>\n\n\n\n

Market Stability And Opposition<\/h2>\n\n\n\n

Despite SEC Chair Gary Gensler\u2019s opposition, stating the bill would create regulatory gaps and threaten market stability, its passage in the House is seen as a positive step for the crypto industry. Coinbase CEO Brian Armstrong celebrated the bipartisan support, calling it a victory for clear crypto regulations.<\/p>\n\n\n\n

Variant Fund\u2019s legal chief, Jake Chervinsky, highlighted the significant number of Democrats voting against the current SEC approach. However, crypto lawyer Gabriel Shapiro cautioned that FIT21 still grants substantial power to the SEC and creates a dual regulatory regime with the CFTC, giving it new authority over the spot commodities market.<\/p>\n\n\n\n

In essence, FIT21 would mainly place crypto oversight under the Commodity Futures Trading Commission, which is viewed by the industry as more lenient than the SEC. The SEC would still regulate cryptocurrencies that are not sufficiently decentralized but FIT21 would also provide a mechanism for some cryptocurrencies to be sold as commodities.<\/p>\n","post_title":"House Passes FIT21 Act To Define Crypto Regulations, Senate's Approval Unclear","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"house-passes-fit21-act-to-define-crypto-regulations-senates-approval-unclear","to_ping":"","pinged":"","post_modified":"2024-05-27 08:44:58","post_modified_gmt":"2024-05-26 22:44:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17046","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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Jeane Claude Vasquez

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