Author: American Coins & Gold

Congress Can't Let Gary Gensler Regulate Digital Assets Out of Existence
We should support an amendment from House Majority Whip Tom Emmer to limit the SEC’s authority over the industry, say Tim Ryan and David McIntosh, co-chairs of the Blockchain Innovation Project.

Is Michael Lewis Throwing Out His Reputation to Defend Sam Bankman-Fried?
The author’ latest book, “Going Infinite,” is an eyewitness account of the fall of FTX’s founder, who Lewis said is “misunderstood.”

Fed Report: Silvergate Bank Got Fatally Ensnared in Crypto While Examiners Shrugged
Silvergate Bank transformed from a community lender to a high-flying crypto bank without its Federal Reserve examiners raising an alarm, according to a report from the Federal Reserve’s Office of Inspector General (OIG), allowing the bank to take risks that would turn fatal.

Sam Bankman-Fried’s Closest Friends Will Testify Against Him. Here’s Who Else We’ll Hear From
Several of Bankman-Fried’s former colleagues and friends will testify against the one-time crypto mogul following plea deals they struck with the U.S. Department of Justice, including his former romantic partner Caroline Ellison and childhood friend Gary Wang, who were both deeply involved in the daily workings of both FTX and its quant-driven trading shop, Alameda Research. Another two individuals, who prosecutors have yet to publicly name, may testify if granted immunity, suggesting they may also be tied to the exchange. The DOJ also announced over the weekend that prosecutors intend to call former FTX customers from around the world and…

Chainalysis: Hong Kong and China’s OTC Markets Remain Active Despite Crypto Winter
East Asia represents almost 8.8% of all transactions globally, a report from the research firm says.

UK Regulator Saw 'Poor' Engagement From Some Overseas Crypto Firms on Upcoming Ad Rules
With the rules set to take effect Oct. 8, officials at the Financial Conduct Authority have a plan to tackle non-compliant firms, CoinDesk was told.

Chainlink Unveils ‘Data Streams’ to Reduce Latency, Expands Decentralized Computing
The company launched Chainlink Data Streams and announced new decentralized computing capabilities.

Chia Network Lays Off Third of Its Staff as Loss of Banker Delayed Going Public
Chia Network cut a third of its workforce today as the blockchain platform sought to reestablish a lost banking relationship, the company told CoinDesk, further delaying what Chia had hoped would be a rapid path to listing as a public company.

First Mover Americas: Bitcoin Hits Highest Price in a Month
The latest price moves in bitcoin (BTC) and crypto markets in context for Oct. 2, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

Grayscale Moves to Convert Its Ethereum Trust to a Spot ETH ETF
Its the largest ether trust in the world with $5B in AUM.