U.S. Rep. Madison Cawthorn, who recently lost her primary to represent western North Carolina again, is now under investigation for a crypto-related matter, a statement from Monday (May 23) said. US House Ethics Committee Press.
This comes after he may have improperly 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Meanwhile, CNBC writes that investors have withdrawn more than $10 billion in the past two weeks as regulatory scrutiny increases.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 following the collapse of the UST stablecoin, which completely collapsed at that time and sent the crypto into its all down. .
In other news, Crypto Valley Venture Capital is launching 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 which the use cases for blockchain “go far beyond cryptocurrencies to drive the future of Africa to date.”
Elsewhere, Binance promoted TerraUSD as “safe” weeks before the crash, the Financial Times (FT) reported.
He announced a new investment program on April 6 in which clients lend land to earn 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 pivotal role that crypto exchanges play in deciding which digital tokens are made readily available to traditional traders.”
Meanwhile, Bithumb and Upbit, two of Korea’s top crypto exchanges, are warning against Litecoin due to an update to allow transactions to be sent confidentially.
Litecoin’s activation of privacy-focused Mimblewimble 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 may remove Litecoin from the list.
Additionally, FTX plans to buy brokerage 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 US and at the company’s site, although there will be further rollouts later, according to the report.
In other crypto news, industry officials don’t want to release details of NFTs, DeFi and other similar activities to tax authorities, they told a Cooperation Organization meeting. and Economic Development (OECD) in Paris on Monday.
The report notes that international tax standard setters want to ensure that banking industry rules in this area can also prevent foreign bitcoin holdings from being kept secret from the tax authorities.
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