OMG NEWS OF THE DAY
US GAO’s Crypto Report Faces Criticism
The United States Government Accountability Office (GAO) recently released a report on crypto’s role in evading sanctions, prompting strong reactions from Coinbase’s Chief Legal Officer, Paul Grewal. Grewal criticized the lack of analysis in the report and accused the GAO of targeting an industry that diligently follows the law. Senator Elizabeth Warren used the report to advocate for stricter AML regulations, despite critiques highlighting that the report’s findings were based on a single instance involving Chinese actors.
X Launches Dedicated Payments Account
X, Elon Musk’s multifaceted platform, has fueled speculation within the crypto community by launching a dedicated account for its upcoming payments feature.
While the exact details remain unconfirmed, crypto enthusiasts are optimistic about the potential inclusion of cryptocurrencies in the payment services.
Ethereum DeFi Breakthrough with ‘Gasless’ Trading
0x Labs introduces a revolutionary trading API called Tx Relay, allowing decentralized applications on Ethereum to execute “gasless” swaps. This innovation addresses a common pain point in DeFi by covering gas fees within the transaction, providing a simplified and user-friendly trading experience. The API also offers MEV protection, enhancing security against bots and advanced tools, contributing to a better overall user experience.
FTX’s $1 Billion Sell-Off of Grayscale’s Bitcoin ETF
In the aftermath of the SEC’s approval of spot Bitcoin ETFs, FTX’s bankruptcy estate has reportedly sold around $1 billion worth of shares from the Grayscale Bitcoin Trust (GBTC). This substantial sell-off has contributed to the overall outflow of funds from GBTC since its conversion into an ETF. The move by FTX, which capitalized on price disparities, has left investors speculating on the potential impact on Bitcoin’s market dynamics.
TWEETS OF THE DAY
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL FM strongly recommends contacting a qualified industry professional.
