Legal
Investments
Marathon Digital Bitcoin mining production down 9% in August; CEO cites Texas heatwaves as contributing factor
Intense Texas summers have become a recurring annual strain on global Bitcoin markets.
Trading
Genesis Global Trading ends U.S. over-the-counter trading ‘voluntarily and for business reasons’
The company first made the announcement by email to U.S. clients and confirmed the news in a statement seen by CryptoSlate.
Legal
Chinese court contradicts government’s stance on virtual currencies, declares them to be legal property
While not the first time a Chinese court has questioned the prevailing policy of the CCP, any break with hierarchy within Chinese politics is unusual.
Investments
Robinhood strikes deal with U.S. Marshal Service to buy back shares seized from Sam Bankman-Fried
A federal court in the Southern District of New York has approved the terms of deal and it may now proceed at a price of $10.96 per share.
Politics
SEC Chair Gary Gensler to testify before Congress twice this September
The SEC chair has been called back to the Hill after a summer packed with unprecedented enforcement actions against actors in the crypto industry.
Adoption
X secures Rhode Island currency transmitter license, potentially paving way to crypto services
The license approval is another step toward CEO Elon Musk's fabled "everything app" becoming a reality.
Featured
Grayscale wins court battle against SEC; Bitcoin jumps 6% within first hour after ruling
The case has been central to the debate surrounding Bitcoin spot ETFs, which several institutional players have applied for this year.
Regulation
SEC Commissioners Peirce, Uyeda push back against SEC’s NFT enforcement action
The two commissioners issued a public statement raising concerns about the SEC's handling of its first NFT case.
Regulation
SEC charges Impact Theory for ‘unregistered NFT offering,’ expanding enforcement actions to NFT market
The Securities and Exchange Commission charged the LA-based media firm with the offering of unregulated securities, a new development in its ongoing crypto crackdown.
Adoption
Dropbox drops unlimited storage plans, citing abuse by crypto miners
The popular cloud storage service blamed the decision in part on cryptocurrency miners, but did not provide details on how they leveraged the service.
Regulation
Fed Chair Jerome Powell discusses target interest and inflation rates at Jackson Hole summit
The chair of the U.S. central bank once again warned that inflation rates remain too high as the economy grows at a unexpected pace.
Regulation
Treasury, IRS propose crypto tax rules defining DeFi platforms as brokers
The rules would subject crypto intermediaries — including purportedly decentralized platforms — to the same reporting requirements as traditional brokers and asset managers.