Bitcoin News and Finance: What You Need to Know

A controversy surrounding Alex Welch, an alleged spokeswoman of Tether, the company behind USDT , erupted last week as an article in the Wall Street Journal (WSJ) quoted her as a source for information on the company’s loans. However, Tether CTO Paolo Ardoino denied any involvement of Welch with the stablecoin company, criticizing the publishing practices of the news outlet. Alleged Tether Spokeswoman Alex Welch Causes Controversy Alex Welch, who has been presented in several articles as a spokesperson for Tether, the stablecoin company behind the issuance of USDT , is at the center of a controversy between the company and mainstream news outlets. Welch was mentioned as a source for allegations regarding the rise in Tether’s outstanding loans in a recent article by WSJ journalist Jonathan Weil, which was criticized as “tabloid-style” reporting in a press release issued by the company. In the article, Welch is reported to have given information regarding these loans, stating that ...

Microstrategy has acquired 5,445 more bitcoin, bringing the company’s total holdings to 158,245 BTC . According to the company’s filing with the U.S. Securities and Exchange Commission (SEC), the additional bitcoins were acquired during the period between Aug. 1 and Sept. 24. Microstrategy Adds 5,445 Bitcoin to Its Treasury The Nasdaq-listed software intelligence firm Microstrategy has continued to increase its bitcoin holdings. On Monday, Michael Saylor, founder and chairman of Microstrategy, announced on social media platform X: Microstrategy has acquired an additional 5,445 BTC for ~$147.3 million at an average price of $27,053 per bitcoin. As of 9/24/23 Microstrategy hodls 158,245 BTC acquired for ~$4.68 billion at an average price of $29,582 per bitcoin. $MSTR According to the company’s filing with the U.S. Securities and Exchange Commission (SEC), the additional bitcoins were acquired between Aug. 1 and Sept. 24. Microstrategy also announced on Monday that as of Sept. 2...

U.S. presidential candidate Nikki Haley has warned that China is preparing for war and Chinese President Xi Jinping intends to win. “China is an existential threat. It has spent half a century plotting to defeat us,” she stressed, cautioning that China is “building a massive cutting edge military, capable of threatening America and dominating Asia and beyond.” Nikki Haley Warns of China’s Preparation for War U.S. presidential hopeful and former governor of the state of South Carolina, Nikki Haley, warned in a speech at the New Hampshire Institute of Politics on her economic policy Friday that China is preparing for war. “Strength and pride are essential to our national survival, especially in the face of Communist China,” she began, elaborating: China is an existential threat. It has spent half a century plotting to defeat us. “It’s taken our manufacturing jobs. It’s taken our trade secrets. Now, it’s taking control of critical industries — from medicines to advanced technology...

The U.S. Securities and Exchange Commission’s former head of internet enforcement has called on the U.S. Department of Justice (DOJ) to prosecute more crypto firms. “The stark reality is that the SEC is merely a civil enforcement agency. And until crypto-grifters face the threat of DOJ prosecution (i.e. prison time), they will continue to treat SEC enforcement-related risks … as the cost of regulatory arbitrage and just another liability item on their balance sheets,” he stressed. DOJ Should Prosecute Crypto Cases, Says Ex-SEC Official Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark has called on the U.S. Department of Justice (DOJ) to take more action against the crypto industry. Commenting on the fraud case of Sam Bankman-Fried (SBF), former CEO of cryptocurrency exchange FTX, Stark wrote on social media platform X Saturday: “For the life of me, I cannot comprehend why the U.S. Department of Justice and the U.S. Securities and Exchange Commission ha...

San Francisco-based law firm Fenwick & West LLP is denying allegations from FTX founder Sam Bankman-Fried that the firm provided legal advice enabling the alleged fraud that led to the cryptocurrency exchange’s collapse. In a recent court filing, Fenwick & West asserts the allegations are “fatally deficient” and should be dismissed with prejudice. Law Firm Challenges FTX Founder’s Claims In a motion to dismiss filed Wednesday in Florida federal court, Fenwick & West argues the complaint fails to state viable claims for conspiracy, aiding and abetting fraud, negligence, or racketeering. The firm asserts the allegations improperly seek to hold it liable based on providing routine legal services to FTX within the scope of representation. Fenwick & West claims the complaint does not show it acted outside its role as legal counsel, an essential element for the asserted causes of action against a law firm. “A lawyer’s representation of a client and knowledge of their emp...

In just five days, liquid staking platforms saw a surge of 370,000 ether in their ethereum holdings, breaching the 12 million ETH mark—rising from 11.94 million to a notable 12.31 million. Interestingly, Binance’s liquid staking token, WBETH, was the powerhouse behind this growth, accounting for over 86% of this week’s increase, swelling by 318,605 ether in the five-day span. Liquid Staking Platforms Leap Over 12 Million Ether As of September 25, 2023, data from defillama.com reveals that Ethereum ( ETH ) holdings in liquid staking derivative protocols have soared past the 12 million mark, reaching an impressive 12.31 million. Rewinding to September 20, historical records indicate that 11.94 million ether was anchored across nearly two dozen of these protocols. Among the 23 contenders, Lido dominates with a staggering 70.90% of the total value locked (TVL). On that same day, September 20, Lido had approximately 8.7 million ether secured in its decentralized finance platform. Fast...

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: a Bitcoin mining farm is discovered during a raid on a Venezuelan jail, a bill that protects crypto from seizure advances in Brazil, and the Chilean police find a Bitcoin farm during a drug raid. Bitcoin Farm Found in Venezuelan Jail A Bitcoin mining farm was dismantled during a mega raid on the Venezuelan penitentiary center of Tocoron, located in the Aragua state. The raid, which involved the participation of more than 11,000 officers, found an undisclosed number of Bitcoin miners inside a makeshift mining farm, which was allegedly operated by the gang that held control of the national jail, called “Aragua’s Train.” During the raid, the police also found drugs, rifles and ammo, C4 explosives, and more eccentric elements, like a disco where events were held, a swimming pool, a baseball stadium, and even a zoo. Authorities have not issued statemen...

U.S.-based crypto exchange Coinbase has obtained a registration in Spain that will allow it to offer a range of services for digital assets. The authorization fits into the company’s current strategy for global expansion through acquiring local licenses and tailoring products for specific markets. Cryptocurrency Exchange Coinbase Registers With the Central Bank of Spain Leading U.S. digital assets trading platform Coinbase has registered as a crypto exchange and custodian wallet provider with the Bank of Spain. The firm said this week the registration will allow it to offer its full suite of products and services to both retail and institutional customers in compliance with in Spain’s laws and regulations. In an announcement on Friday, Coinbase emphasized the development is a milestone in the execution of its “Go Broad, Go Deep” strategy for international expansion. In a recent blog post , the American crypto firm said it’s launching its second phase and shared details about its p...