NFT News by Thebittimes.Com

18 U.S. senators, including Cynthia Lummis and Ted Cruz, actively support the cryptocurrency sector. According to the advocacy group Stand with Crypto Alliance, created with the support of the Coinbase exchange, the leader among legislators in the number of initiatives to support the segment is Cynthia Lummis, who introduced eight bills and 184 resolutions over her time spent as Senator; who along with another 17 of her cohorts also took part in producing legislation favourable to the crypto ecosystem. Among others, the following senators are listed Ted Cruz, Kirsten Gillibrand, John Cornyn, Steve Daines. At least 30 senators , in turn, are against the crypto sphere the report contents. Among crypto ’s most vociferous skeptics is Mark Warner, who has four bills and 17 resolutions to his name that have attempted to tighten regulation of the industry to one degree or another. You might also like: US Senator Elizabeth Warren introduces bill to crack down on crypto Also on ...

The latest financial stability report from the People’s Bank of China reveals a distinct section for crypto - assets . According to the report released on Dec. 22, the strategic inclusion of this section aims to bridge data gaps, alleviate fragmentation, and eradicate regulatory arbitrage while addressing the role of the Financial Stability Board (FSB) in a comprehensive paragraph focusing on the regulation of crypto assets. The report reveals that the cryptocurrency market constitutes 1% of the global financial system, emphasizing its relatively confined association with traditional finance while highlighting several potential risks associated with cryptocurrency regulatory arbitrage, citing concerns about susceptibility to hacker attacks, market manipulation, and defi governance mechanisms. You might also like: China accelerates CBDC pilot with cross-border precious metals transaction Notably, the report highlights specific instances, such as the Terra ecosyst...

Andreessen Horowitz (a16z) is planning to raise $3.4 billion for its next early and seed-stage fund. The fundraising is reportedly set to start by the end of year. Andreessen Horowitz (a16z), a crypto-friendly venture capital firm based in Silicon Valley, is targeting approximately $3.4 billion for the next early -stage and seed-stage funds , according to Axios. According to the report, the core fund will represent a slight increase for a16z when compared to previous efforts. New growth, crypto and bio vehicles Andreessen Horowitz is one of the bullish VCs on AI, an area that’s seeing a significant uptick in investments. But as artificial intelligence projects prove a big hit for VC fundraising, the broader landscape is seeing notable declines. The fundraising that report edly is marked to start towards the end of the year eyes “new growth, crypto and bio vehicles in 2025.” Per Axios, the VC giant “will ask, although not require, li...

The company considered selling Changpeng Zhao’s shares to continue with growth plans but decided to lay off one-third of its staff instead. Binance US was weighing selling shares controlled by Binance co-founder Changpeng Zhao (CZ) to stick to the company’s growth plans, The Block has learned, citing sources familiar with the matter. During an all-hands meeting, the firm’s staff was report edly presented with a presentation describing three options for what to do next. The first option was to continue the work as planned. Still, it would require CZ to “resolve” his issues with US regulators, put his shares in Binance US into a blind trust (a trust established by the owner giving another party full control of the trust), or sell them entirely. The second one described a scenario where the firm would have to slow down its burn rate while keeping investing in the platform even despite the bear market, the report notes. The third option was to go into ...

Revolut reportedly issued a public statement and hired lawyers in March in order to prove “misreporting” of the audit opinion by BDO. Crypto-friendly fintech Revolut is reportedly having some issues related to its recently released annual report for the year ending December 2021. Revolut, a British-Lithuanian neobank that allows customers to buy and sell crypto, reported its first-ever full year of profit on March 1, 2023. The firm said it generated a revenue of 636 million British pounds ($769 million) in 2021, which was a significant surge from 220 million pounds ($266 million) in 2020. The financial Report was reviewed by independent audit ors from the global accounting network BDO, which confirmed that Revolut’s financial statements provided a “fair view of the state of the group’s and of the parent company’s affairs” as of Dec. 31. The audit ors stressed that the Report was correct “except for the possible effects of the matters described in the basis for the qualified opinion s...