U.S. Rep. Madison Cawthorn, who recently lost her primary election to represent Western North Carolina again, is now under investigation for a crypto-related issue, a statement said Monday, May 23rd. Press Release from US House Ethics Committee.
This happens after he may have wrongfully promoted a cryptocurrency in which he may have had an undisclosed financial interest, according to the statement.
Meanwhile, CNBC writes that investors have withdrawn more than $ 10 billion in the past two weeks as regulatory scrutiny increases.
Tether, the largest stablecoin in the world and believed to be pegged to the US dollar, fell to 95 cents on May 12 after the collapse of the UST stablecoin, which completely collapsed at the time, sending the crypto down altogether. .
In other news, Crypto Valley Venture Capital launches an Africa-focused fund to support blockchain startups on the continent, Coindesk wrote.
The fund will invest in 100 startups on the continent over the next four years.
He has already invested in 12 startups in alleged use cases for blockchain that “go far beyond cryptocurrencies to drive Africa’s future to date.”
Elsewhere, Binance promoted TerraUSD as “on” weeks before the crash, the Financial Times (FT) reported.
He announced a new investment program on April 6, in which customers lend land to achieve a return of around 20% as a “safe and happy” way to earn.
Binance is one of the most influential crypto players, and its promotion, according to FT, “highlights the crucial role that crypto exchanges play in deciding which digital tokens are made readily available to traditional traders.”
Meanwhile, Bithumb and Upbit, two major Korean crypto exchanges, are warning against Litecoin due to an update that allows transactions to be kept confidential.
Litecoin’s activation of Mimblewimble’s privacy enhancing technology adds privacy transactions, allowing users to send tokens while hiding transaction information. Both exchanges cited anti-money laundering and know your customer laws and can remove Litecoin from the list.
In addition, FTX plans to buy broker startups as the company expands into equities, CNBC reported.
The exchange’s CEO also took a big hand in the Robinhood brokerage app.
The company has already approached at least three private startups to buy them, according to the report.
Luxury fashion house Balenciaga plans to start accepting cryptocurrency as payment, Nasdaq.com wrote.
It will begin with flagship stores in the U.S. and on the company’s website, though there will be further rollouts later, according to the report.
In other cryptocurrencies, industry officials do not want to release details of NFTs, DeFi and other similar activities to the tax authorities, they told a meeting of the Organization for Economic Co-operation and Development (OECD) in Paris on Monday.
The report notes that international tax standardizers want to ensure that the banking industry’s rules in this area can also prevent foreign bitcoin holdings from being kept secret from the tax authorities.