š MARKET MOVING NEWS! (18/01/25)
1ļøā£ Digital Currency Group Agrees to Settle SEC Charges for $38 Million ā¶ļø
According to a Jan. 17 filing, Digital Currency Group (DCG) has agreed to settle and pay $38 million to the U.S. Securities and Exchange Commission on Friday over allegations that it misled investors via the crypto firm's bankrupt Genesis Global Capital (GGC) lending unit. The charges were settled while neither admitting nor denying the allegations. Specifically, DCG and former Genesis CEO Soichoro āMichaelā Moro have agreed to pay a combined $38.5 million in civil penalties, with DCG liable for $38 million and Moro liable for $500,000.
2ļøā£ Bitcoin Miner MARA Holdings Immortalises Portrait Of Trump As Block Art āļø
Publicly traded Bitcoin mining company MARA has reportedly hashed a portrait of U.S. President-elect Donald Trump onto the Bitcoin blockchain. Specifically, the president-electās portrait was hashed at block 879613 and is visible on indexers like Mempool.space. MARA chairman and CEO Fred Thiel stated that the move was intended to āhonourā Trump for supporting Bitcoin.
3ļøā£ Wyoming Proposes Bill For Strategic Bitcoin Reserve šø
The state of Wyoming is reportedly the latest U.S. state to introduce a bill that seeks to create a Strategic Bitcoin Reserve. The bill was submitted by a group of five Republican legislators. Notably, the bill specifically states that it would permit the state treasurer to invest public funds in Bitcoin, but no other digital assets.
Commenting on the bill, Wyoming Senator Cynthia Lummis stated,
Wyoming took its first bold step toward a strategic bitcoin reserve! Thank you Rep. Wasserburger for introducing legislation to allow permanent funds to diversify into Bitcoin. This forward-thinking approach will benefit our state as we lead the nation in financial innovation!
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4ļøā£ Crypto Exchange WazirX Freezes $3 Million Stolen in Hack š„¶
Indian crypto exchange WazirX has reportedly frozen $3 million in USDT that was stolen last year in a devastating $230 million security breach. Notably, this comes after roughly four months of recovery efforts while WazirX is undergoing "restructuring proceedings." The freezing of USDT marks WazirX's first significant breakthrough in a complex recovery effort that spans multiple legal proceedings across jurisdictions.
5ļøā£ Crypto.Com Obtains In-Principle Approval For a MiCA License ā¼ļø
Singapore-based crypto exchange Crypto.com has reportedly obtained an in-principle approval for a Markets in Crypto Assets (MiCA) license. The exchange still needs to obtain final approval for a full license. Once obtained, the MiCA license will allow crypto.com to operate in EU countries under a unified regulatory framework.
Crypto.com President and COO Eric Anziani stated,
We have always been fully supportive of MiCA and strongly believe it will bring clarity, transparency and establish a more streamlined sentiment towards the regulation of our industry across the EU, all of which adds to the building confidence in the crypto sector. We look forward to working with the Union to ensure we continue to grow in a compliant manner under the MiCA regulation.
