Crypto policy advocacy group warns of ‘disastrous’ provision in a new US bill

Jerry Brito, the executive director of non-profit crypto policy advocate group Coin Center, suggested U.S. residents call their elected officials over possible privacy and due process concerns in a new bill proposed by House leaders. According to a Wednesday Twitter thread from Brito, the America COMPETES Act recently released by House members contains a provision that he said would be “disastrous” for crypto users from both a privacy and a due process standpoint. According to the Coin Center director, a section of the bill on the “prohibitions or conditions on…

Vladimir Putin Offers Hope for Crypto in Face of Central Bank Call for Ban

Russian President Vladimir Putin has called for consensus between his country’s government and the central bank following the latter’s recent call for an outright ban on crypto. Speaking in a video conference with government ministers on Wednesday, Putin asked for “some kind of unanimous opinion” between his government and the Bank of Russia to be formed via discussions in the near future. Russia’s central bank called for a complete ban on crypto in a report last week, citing its volatility and use for illegal activities. The Bank of Russia’s crypto…

Tether's New Accounting Firm Is the Old One, With Baggage

Meet Tether’s new accounting firm, same as Tether’s old accounting firm. U.K.-based mid-tier firm MHA MacIntyre Hudson, announced Jan. 14 its Cayman Islands office, MHA Cayman, now handles the clients of the Cayman-based Moore Cayman firm, Tether’s accountant. As far as Tether’s relationship with its accountant is concerned, the change should be insignificant “other than they’re going to see a letter with a different letterhead … unless for some reason they are going to do something different or provide more services,” Francine McKenna, founder and editor of the re: The…

Valkyrie aims for ETF linked to Bitcoin mining firms on Nasdaq

Crypto asset manager Valkyrie has filed an application with the United States Securities and Exchange Commission to trade an exchange-traded fund with exposure to Bitcoin mining firms on the Nasdaq Stock Market. In a Wednesday SEC filing, Valkyrie said its Bitcoin Miners ETF will not invest directly in Bitcoin (BTC) but at least 80% of its net assets would offer exposure to the crypto asset through securities of companies that “derive at least 50% of their revenue or profits” from BTC mining or providing hardware or software related to mining.…

Turkish president orders ruling party to organize metaverse forum

Turkish President Recep Tayyip Erdoğan and ruling Ak Party officials met earlier this week to discuss the metaverse, with the president calling for comprehensive research on the subject. Erdoğan has reportedly urged the Ak Party to study the metaverse, cryptocurrencies, and how transactions are made using them, according to a Daily Sabah report. At a meeting on Jan. 25, party leaders were instructed to research the phenomenon with significant ramifications for the future. The economic aspects of the metaverse, cryptocurrencies, and social media are anticipated to be addressed at a…

Ripple announces $200M share buyback and expresses optimism for 2022

Blockchain payments firm Ripple has announced a $200-million Series C share buyback, a decision that will take the San Francisco-based tech firm to a record-high valuation of $15 billion. Back in December 2019, Ripple raised $200 million in a Series C funding round with Tetragon Financial Group, a United Kingdom-based investment firm, acting as the lead investor alongside SBI Holdings and Route 66 Ventures. However, in December 2020, the United States Securities and Exchange Commission issued a $1.3-billion financial lawsuit against Ripple Labs, as well as co-founder Chris Larsen and CEO Brad…

Coinbase Shares Are Very Unattractive Heading Into First Half, Mizuho Securities Says

Renewed signs of a “crypto desert” coupled with declining yields make Coinbase especially unattractive heading into the first half of this year, Mizuho Securities said in an analyst report published Tuesday, cutting its price target for the shares to $220 from $300. Mizuho forecasts the crypto exchange had trading volume of about $525 billion in fourth-quarter 2021, up around 60% sequentially, implying revenue of about $2 billion. This is relatively in line with consensus, the analysts wrote. For the first quarter, the bank sees “significant downside to consensus revenue expectations,”…

BTC price hits $38K as Bitcoin analysts focus on weekly close

Bitcoin (BTC) staged new retests of $38,000 resistance on Jan. 26 as optimism increased over a potential recovery to $40,000 and higher. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Next stop a $40,000 retest? Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it continued the rebound that began on Monday. At the time of writing, two breakthroughs of $38,000 had occurred, with the pair lingering just below that level amid further direction cues. For Cointelegraph contributor Michaël van de Poppe, the signs were encouraging, with the stage being set…

Dogecoin Leads Gains in Major Cryptos Ahead of Fed Meeting

The broader crypto market recorded its second day of growth ahead of a U.S. Federal Reserve (Fed) statement on Wednesday. Prices of bitcoin, ether and other major cryptocurrencies rose as much as 7% in the past 24 hours, with memecoin Dogecoin leading gains among the biggest assets by market capitalization. Terra’s LUNA tokens were among the only losers, posting a 4.6% decline, data from analytics tool CoinGecko showed. Wednesday’s Fed meeting may reveal the bank’s stance on the timing of an interest-rate increase that many observers expect will come in…