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Crypto company Ripple has donated $1 million in support of pro-XRP candidate John Deaton as they seek to unseat US Senator Elizabeth Warren. Both candidates are vying for the Massachusetts seat, with the latter being an outspoken advocate of anti-crypto legislation. Filings reveal that the XRP issuer has funded a super PAC named the Commonwealth Unity Fund. Created by John Murphy, it is set to challenge Warren and her consistent stance against the asset class. Ripple has been caught in a years-long legal battle with the SEC, and has a vested interest in clearer regulation in the country. Source: Reuters Also Read: Ripple : Algorithm Predicts XRP To Reach $6: Here’s the Timeline Ripple Donates to John Deaton, Seeks to Challenge Elizabeth Warren Crypto has never been as important to a presidential election than it is in 2024. Both sides have clear stances on the assets. Moreover, politicians are building campaigns with clear opinions on its place in the market. Yet, crypto companies ar...

But Solana was the only other major asset to show inflows for the week. Cryptocurrency assets experienced inflows for the first time in six weeks during the week of Sep. 22-28, according to the latest Digital Asset Fund Flows Weekly Report from European digital assets management firm CoinShares. Bitcoin was the biggest gainer with in flows in the amount of $20.4 million for the week. Good week, everyone. Here are the latest #FundFlows and observations by CoinShares Head of Research @JButterfill. This week in flows : US$21m (after 6 weeks of out flows ) We believe these in flows are a reaction to a combination of positive price momentum, fears over US… pic.twitter.com/0VHHBh1n50 — CoinShares (@CoinSharesCo) October 2, 2023 Solana took second with $5 million as the only other asset to show inflows. Per CoinShares, this is its 27th week of inflows with only four weeks of outflows for 2023, making it “the most loved altcoin this year.” On the flip side, Ethereum experiences outflow...

Despite coming up short of his goal, crypto trader Thomas Kralow said the crypto-funded expedition was all about two things: “Bitcoin and happiness.” A Bitcoin proponent’s recent attempt to crypto trade his way from New York to Alaska has come to a sudden and bitter end — some 900 miles from his final destination.  Thomas Kralow, a crypto trade r and educator recently set himself the daring task of traveling from one side of the United States to the other funded solely by trading crypto. On Aug. 12, Kralow set out from New York with his assistant Ilya and an initial budget of $5,000 cash. The pair forked out some cash for a dinged-up Mercedes and set up a Starlink antenna on the back of the vehicle — with fast internet being a requirement for quick trade s — leaving them with just $2,500 to trade their way to Alaska. Unfortunately for Kralow, he never made it to his final destination — with his cheap vehicle grinding to a permanent halt in Seattle, just 12 days after starting the j...

US Federal Reserve unveils Novel Activities Supervision program to oversee banks ’ crypto -related activities, emphasizing stablecoin safeguards. The initiative‘s main goal will be to supervise the banks’ activities related to cryptocurrencies, such as custody, lending, trading, and the issuance or distribution of digital assets. The institution will guide the banks before engaging in activities related to cryptocurrency. The Fed said that the goal of the law is to foster the benefits of financial innovation while recognizing the risks of working with crypto currency. The program will be subject to the existing supervisory processes of the US Federal Reserve. The new initiative launched by the Fed does not add to or modify the current rules for banks dealing with cryptocurrency in the US.  You might also like: New York Federal Reserve, major U.S. banks successfully complete private test using DLT Stablecoins supervision The institution also issued info...

Circle’s CEO, Jeremy Allaire, unveiled that approximately 70% of USDC adoption occurs outside the United States.  Despite the perception that USDC primarily caters to the US market, emerging economies and developing regions emerge as strongholds for this stablecoin. Allaire stated that an estimated 70% of USDC adoption is non-US, and some of the fastest-growing areas are emerging and developing markets. Despite the hype that we're all about the US, we estimate that 70% of USDC adoption is non-US, and some of the fastest growing areas are emerging and developing markets. Strong progress happening across Asia, LATAM and Africa. Demand for safe, transparent digital dollars is… — Jeremy Allaire (@jerallaire) August 7, 2023 He underscored the vigorous progress made across Asia, Latin America, and Africa. This statement aligns with Paolo Ardoino, the CTO of Tether. Ardoino had earlier emphasized that Tether’s USDT can be a safe instrument for emerging markets ...

Former FTX boss Sam Bankman-Fried will not be facing a charge of illegal campaign financing due to an extradition treaty between the US and the Bahamas.  A court filing was published on July 26 by US Attorney for the Southern District of New York (SDNY) Damian Williams. US government has no plans to proceed with charge s accusing Sam Bankman-Fried of conspiracy to make unlawful campaign donations. It was the eighth count in the original indictment unsealed in December 2022.  “Accordingly, in keeping with its Treaty Obligations to The Bahamas, the Government does not intend to proceed to trial on the campaign contributions count.” Excerpt from court filing The decision came after the US sought clarification from The Bahamas authorities regarding whether the charge was included in Bankman-Fried’s extradition.  In response, The Bahamas government informed the US that “it did not intend to extradite the defendant on the campaign contributions count....

Also Read: Popular Analysts Predict 10% Rally In Ethereum Against Bitcoin , Will Altcoins Follow? advertisement Meanwhile, Twitter’s data scaping problem appears to have a solution in the Crypto Market . Interestingly, the solution bypasses the need for placing limits on daily tweets accessed by users to prevent scraping. Theta Network (THETA) Tech According to Theta Network supporters, its technology offers a framework for decentralized data streaming and delivery that could potentially prevent unauthorized data scraping by AI companies. Data scraping involves usage of software tools or scripts to pull out data from websites and databases, which is posing a major threat to user data safety on the internet. In recent times, it has been stated that AI companies have been using data scraping tools to be able to train their large language models (LLMs). Elon Musk’s criticism of AI development is well known, after his support to the demand for limiting th...

In an interview with WSJ, Coinbase CEO Brian Armstrong explained that entrepreneurs who left the United States will return when the government finds the "right outcome" for crypto regulation. Brian Armstrong, the CEO of cryptocurrency exchange Coinbase, is confident that the United States will achieve clarity with crypto regulations, “even if it takes a while.” However, he believes this is the vital component to luring entrepreneurs back to the country. Armstrong sat down for an interview with Wall Street Journal on June 11, just days after the SEC filed a lawsuit against crypto exchange Coinbase on June 6. The SEC alleged that Coinbase has been operating a securities exchange, broker-dealership and clearing house without registering with the commission. Full WSJ interview on YouTubehttps://t.co/yIF3dGI7oN — Brian Armstrong ️ (@brian_armstrong) June 10, 2023 Armstrong addressed the lawsuit in the WSJ interview, explaining that he believes those registrations weren't r...

U.S. Jobless Claims Take A Dip Continuing claims, which are made by individuals who have received unemployment benefits for more than one week, decreased to 1.799 million for the week ending May 6 from a revised total of 1.807 million for the week prior. However, according to the consensus estimates, econometricians anticipated that the recent initial claims and continuing claims report would come in at a seasonally adjusted total of 254,000 and 1.818 million, respectively. advertisement Read More: ApeCoin Eyes Price Hike As DAO Approves Key Community Proposal The Federal Reserve is currently engaged in the most rapid interest rate increasing campaign seen since the 1980s, and as a result, the labor market is being constantly monitored for any signs of stress. Even if there have been some indications of a slowdown, the labor market has remained extremely competitive, with 1.6 job vacancies for every individual who was unemployed in the month of March. Mark...

First Republic Bank is not the only bank at risk, 4–5 banks are currently facing bank deposit withdrawals in billions. Fed needs to print more money for rescuing cash-strapped banks on the brink of collapse. advertisement FDIC Receivership of First Republic Bank Likely This Weekend According to the Wall Street Journal, the FDIC receivership of First Republic Bank is to likely come this weekend. Moreover, banks including JPMorgan Chase & Co and PNC Financial Services are already preparing to buy First Republic Bank following the closure by the government. First Republic’s shares have been in free-fall since Monday, plunging over 75% to $3.51 at market close on Friday. During the after hours trading, FRC shares fell 33% to $2.33. Some Wall Street experts revealed that First Republic Bank is not the last to collapse as government agencies looking at four to five banks could fail in the coming months. Big banks including JPMorgan a...

Santa Cruz voted to approve the use of a blockchain-based digital wallet for government services and official documentation and is set to begin a pilot program in July 2023. The county of Santa Cruz in northern California is one of the latest to adopt and implement the usage of blockchain-based solutions on a governmental level.  In a meeting of the Board of Supervisors for the County of Santa Cruz held on April 25, the members unanimously decided to go forward with implementing the usage of digital wallets, for government services and official documentation purposes. According to the final consensus of the meeting, the white-label digital wallet powered by HUMBL will launch a 3-stage pilot program starting in July 2023. Beta testers during the pilot period will be mobile users seeking to access government services such as bicycle registration and RV parking registration. Other potential pilots would be for registration of park facilities, tracking volunteer hours, over-the-counte...

Decentralized exchange UniSwap and venture capital firm Andressen Horowitz were revealed as former clients of LaBolt in a recently published public financial disclosure report. United States President Joe Biden will reportedly ban his communications director from handling matters related to any crypto or technology firms he has previously worked with, while allowing him to advise on crypto regulation. According to an April 22 Bloomberg Law report, the White House communications director Ben LaBolt will be barred from “participating in legal matters, investigations, or contracts involving cryptocurrency or technology firms he previously represented.” Decentralized exchange UniSwap and Venture Capital firm Andressen Horowitz – an early investor in Coinbase Global Inc – were both former clients of Bully Pulpit Interactive (BPI), where LaBolt was previously a partner, according to a public financial disclosure Report published on April 21. Both firms were among a list of 23 clients payi...