Top Stories of The Week
Coinbase CEO calls on countries to establish Bitcoin reserves
Brian Armstrong, CEO of US-based cryptocurrency exchange Coinbase, has endorsed plans for global leaders to create Bitcoin strategic reserves.
In a Jan. 17 blog post on “economic freedom,” Armstrong said cryptocurrencies were “the next chapter of capitalism,” offering suggestions for policymakers to integrate digital assets into their economies in 2025.
The Coinbase CEO’s ideas included crypto-friendly laws, government efficiency, special economic zones, and the establishment of a Bitcoin reserve as a hedge against inflation.
“The next global arms race will be in the digital economy, not space,” Armstrong speculated. “Bitcoin could be as foundational to the global economy as gold and will become central to national security in a world where holdings of Bitcoin can shift the balance of power among nation-states.”
SEC charges Digital Currency Group for misleading investors
The United States Securities and Exchange Commission has charged Digital Currency Group (DCG) and former Genesis Global Capital CEO Soichoro “Michael” Moro with misleading investors about the financial health of Genesis in the aftermath of the Three Arrows Capital (3AC) collapse.
According to the Jan. 17 filing, DCG and Moro have agreed to pay a combined $38.5 million in civil penalties, with DCG liable for $38 million and Moro liable for $500,000.
Moro and DCG agreed to the civil penalties without admitting to or denying any violations of the Securities Act of 1933.
The settlement is the latest chapter in the legal saga of Genesis, which filed for Chapter 11 bankruptcy protection in January 2023 due to a 2022 default by 3AC — a former borrower of Genesis.
Trump plans executive order making crypto a national priority: Report
US President-elect Donald Trump is reportedly expected to sign an executive order designating…
..
