This Week In Crypto: SBF
Pardon Rumors,
EU Delists USDT, Ripple Donates
to Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд,
Singapore Industry Grows
Several big stories and developments have occurred in the crypto space this
week, including rumors of a presidential pardon for FTX s Sam
Bankman-Fried, EU exchanges delisting Tether s USDT, and Ripple donating
$5 million to Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд s Inauguration.
Centralized exchange Crypto.com also expanded US operations, as Singapore and
Hong Kong have become major regional industry hubs.
Rumored Pardon for FTX s Sam Bankman-Fried
Rumors have been circulating that Sam Bankman-Fried (SBF) , the infamous
founder of FTX, who caused one of the largest financial collapses in the
industry , might receive a Presidential pardon. Tesla• Объект организация » Организации по алфавиту » Организации на Te » Tesla Motors CEO Elon Musk• Объект человек » Персоналии по алфавиту » Персоналии на Ма » Маск, Илон claimed he
would be shocked if SBF does not receive a pardon.
These rumors are based on the fact that SBF was the second-largest individual
donor for the Democratic party in 2020 before his arrest.
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“Sam Bankman-Fried used over $100 million in stolen customer funds to donate
to political campaigns. Watch him get pardoned. 100% Biden• Объект человек » Персоналии по алфавиту » Персоналии на Ба » Байден, Джо,” wrote Jason
Williams.
Not everyone agrees with this analysis. For example, the US government• Соединённые Штаты Америки (США) » Государственное устройство США » Правительство США
• Государство » Государственное устройство США » Правительство США
• Объект организация » Организации по алфавиту » Организации на Пр » Правительство США has
been signaling a new friendliness to crypto, and the new pro-industry SDNY
Attorney claimed that his office would curtail crypto prosecutions. However,
this would only happen after he finishes dismissing SBF s appeal. In
other words, there is a strong motivation to keep him locked up.
Yet, this strong motivation may not amount to much. Joe Biden• Объект человек » Персоналии по алфавиту » Персоналии на Ба » Байден, Джо is currently in
a lame-duck period; his party lost the election, but he remains in power.
Last week, Biden• Объект человек » Персоналии по алфавиту » Персоналии на Ба » Байден, Джо extended clemency to the infamous kids for cash
judge, who received bribes to incarcerate hundreds of children. In other
words, the President• Соединённые Штаты Америки (США) » Государственное устройство США » Президент США
• Соединённые Штаты Америки (США) » Политика США » Политики США » Президент США
• Государство » Государственное устройство США » Президент США
• Политика » Политика США » Политики США » Президент США is willing to sign monstrously unpopular pardons.
EU Exchanges Delist Tether s UDST
Due to the impending Markets in Crypto Assets (MiCA) regulations in the EU,
European exchanges have begun delisting Tether s USDT stablecoin .
However, industry commentators worry that this move will severely hinder
European crypto development, especially while the US market is booming .
Recently, the EU sector has been lagging behind in crypto adoption compared to
past years.
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EU Crypto VC Funding Plummets. Source: Bloomberg
The company, for its part, has been preparing for the storm. Tether has been
rolling back EU crypto operations• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта while investing in MiCA-compliant
stablecoins .
Additionally, the firm has noticeably profited from a few US investments and
partnerships, even winning some political favors . In other words, MiCA may
hurt European crypto more than Tether.
Ripple to Donate $5 Million to Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд s Inauguration
Ripple pledged to donate $5 million worth of XRP tokens to President• Соединённые Штаты Америки (США) » Государственное устройство США » Президент США
• Соединённые Штаты Америки (США) » Политика США » Политики США » Президент США
• Государство » Государственное устройство США » Президент США
• Политика » Политика США » Политики США » Президент США-elect
Donald Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд s Inauguration Day. It is the largest donor, but other
crypto firms like Kraken and Binance have also donated, amounting to around $8
million total.
These donations come with several exclusive perks, such as access to a private
dinner with Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд and his Cabinet members.
“Ripple Makes Record-Breaking Donation To Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд. Ripple just donated $5M in
XRP to fuel Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд’s $200M inauguration stash. This is the biggest crypto
donation ever made. Crypto’s not just an alternative investment vehicle
anymore, we’re seeing it reshape the world of politics in real-time,” Mario
Nawfal wrote on X (Formerly Twitter).
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In the previous election cycle, Ripple was a major donor to pro-crypto
candidates in both parties. However, critically, this behavior has only
continued now that the elections are over.
Last month, the firm donated $25 million to prepare for midterm elections,
which will take place in two years. Clearly, the firm s political
contributions show no sign of stopping.
Crypto.com Enters US Custody Market
Crypto.com, a Singapore-based cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта exchange , just launched its
Custody Trust Company, which is dedicated to offering new services in the US .
Some of these new services include trading, exchanges, an NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен marketplace ,
and crypto payments.
“Launching a US trust company is our latest significant step in our product
roadmap to building our business• Экономика » Бизнес and presence in two of the most important and
active crypto markets• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта in the world – the US and Canada. This step reflects our
confidence in the North America market, and we look forward to continuing to
enhance and innovate the market for our customers in the market,” said Kris
Marszalek, co-founder and CEO of Crypto.com.
The firm has been increasing its US President• Соединённые Штаты Америки (США) » Государственное устройство США » Президент США
• Соединённые Штаты Америки (США) » Политика США » Политики США » Президент США
• Государство » Государственное устройство США » Президент США
• Политика » Политика США » Политики США » Президент США recently, as Marszalek met with
Trump• Объект человек » Персоналии по алфавиту » Персоналии на Тр » Трамп, Дональд at Mar-a-Lago this month . After their private meeting, Crypto.com
dropped its lawsuit against the SEC.
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Representatives of the exchange claimed this move signals a new willingness to
cooperate with the incoming administration and construct new, friendlier
policies.
Singapore Leads Asia in Crypto Licenses
Singapore is also leading in Southeast Asia as a cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта hub , issuing
more licenses to crypto-related businesses than any other country in the
region. This also includes Hong Kong, which has been trying to present itself
as a regional leader in recent months.
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Additionally, Independent Reserve became the first Singaporean exchange to
list Ripple s new stablecoin , RLUSD.
“Independent Reserve is proud to be the first regulated exchange in Singapore
to offer secure and reliable access to RLUSD, staying true to our mission of
leveraging crypto and blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн technology to transform financial services• Экономика » Финансы » Финансовые услуги
• Сфера услуг » Финансовые услуги,”
said Lasanka Perera, CEO of Independent Reserve Singapore, in a press release.
Nonetheless, Singapore and Hong Kong have been substantial pioneers in the
crypto industry this year. Relative to their population, they significantly
outperform in several crucial metrics, such as blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн patents, industry
jobs, and operating exchanges.
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