Bitcoin News and Finance: What You Need to Know

Former U.S. President Donald Trump gave a more detailed account of his finances including proceeds from his non-fungible token (NFT) collection. The cryptocurrency balance of an Ethereum wallet has also been declared as part of $1 billion in income received from various sources. Donald Trump Details Income From NFTs, Speaking Fees, Hotel Sale The 45th President of the United States, Donald Trump, has provided more information about his financial state, detailing income earned from speaking fees, the sale of his Washington, D.C. hotel and digital collectibles, Bloomberg reported. In a revised disclosure, filed with the Office of Government Ethics, he reveals the exact sums for more than $1 billion in income received from these and other sources that he had previously declared only in broad terms to the Federal Election Commission. In the earlier disclosure submitted in April, Trump, now running for a second, non-consecutive term in the 2024 election, was allowed to indicate broad r...

Russia is discussing using national currencies in trade settlements with 10 Southeast Asian countries, members of the Association of Southeast Asian Nations (ASEAN), Russian Foreign Minister Sergey Lavrov has revealed. The move comes as more and more countries worldwide are seeking to de-dollarize. Russia and 10 Southeast Asian Nations Explore National Currency Usage in Trade Russian Foreign Minister Sergey Lavrov revealed his country’s efforts to settle trade with 10 Southeast Asian countries in national currencies in an interview with Indonesian national newspaper Kompas. The interview was published in English on Wednesday, with the aid of Microsoft Azure Open AI and Google Translation AI. ASEAN members comprise Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. Lavrov explained that Russia does not see the current international situation as a “new cold war.” He emphasized that the country is focused on the development of a multip...

A legal expert has warned that the district court ruling on XRP “rests on very shaky ground.” Expecting an appeal, he cautioned that Ripple’s victory “may be a short-lived victory,” claiming that the judge “got the law wrong.” Lawyer on Ruling of SEC v Ripple Case Lawyer Bryan Jacoutot shared his analysis of the ruling in the U.S. Securities and Exchange Commission (SEC) v. Ripple case on Twitter Thursday. Jacoutot is an attorney at Election Law Group and Taylor English Duma; his practice centers on general litigation and election law. He began: I’ve reviewed the district court ruling on XRP and it rests on very shaky ground. Expect an appeal. He explained that the court did rule that Ripple’s sale of XRP to institutional investors amounted to an unlawful security sale. Noting that Ripple received nearly a billion dollars from these XRP sales, the lawyer predicted that the crypto firm “will presumably be required to return/disgorge,” as well as pay penalties and fines. In ...

Bank of America has come under scrutiny after a Coinbase user claimed that the bank closed his account over Bitcoin transactions. Coinbase CEO Brian Armstrong quickly addressed the issue, asking other users if they have encountered the same problem with Bank of America. Coinbase’s CEO Raises Concerns Over Account Closures at Bank of America Bank of America (BOFA) came under scrutiny on Wednesday when Muneeb Ali, co-founder of Stacks, a Bitcoin layer for smart contracts, revealed on Twitter that the bank unexpectedly closed his bank account, which he had been using for 15 years, without giving a reason. He strongly suspects that the closure was due to him using the bank account for bitcoin transactions through Coinbase. “This is a war on bitcoin & crypto,” he tweeted. Coinbase CEO Brian Armstrong responded to the tweet, asking if other Bank of America customers have encountered similar issues. “If so, not ok,” the Coinbase boss tweeted. He subsequently conducted a Twitter poll ,...

U.S. Rep. Ritchie Torres has called for an investigation into the special purpose broker-dealer (SPBD) license given by the U.S. Securities and Exchange Commission (SEC) to Prometheum, a cryptocurrency exchange platform. In two letters sent to U.S. Comptroller General Gene Dodaro and SEC Inspector General Deborah Jeffries, Torres calls for investigation of the “backroom deals” allegedly brokered between the SEC and Prometheum. U.S. Rep. Ritchie Torres Requests Investigation Into Prometheum’s License Ritchie Torres, a U.S. representative for New York, is requesting an official investigation on the licenses the U.S. Securities and Exchange Commission (SEC) gave to Prometheum, a digital assets trading platform that Torres states “does not trade digital assets.” On July 13, Torres sent two letters to U.S. Comptroller General Gene Dodaro and SEC Inspector General Deborah Jeffrey to request an independent review of the failure of the SEC to provide a workable path for crypto exchanges t...