Month: March 2026

Ripple CEO warns against another weaponized Gensler moment if SEC-CFTC rules aren’t codified into law

admin

Crypto firms are embracing fresh guidance from US regulators after the Securities and Exchange Commission and Commodity Futures Trading Commission designated 16 digital assets as commodities. Ripple CEO Brad Garlinghouse called the joint framework a “huge step forward” after years of enforcement he described as politically motivated under former SEC Chair Gary Gensler, who pushed the Ripple lawsuit forward after assuming office in 2021. The crypto entrepreneur also urged Congress to codify SEC-CFTC guidance into law to avoid another Gensler-style crackdown that could harm crypto innovation and US competitiveness. “We…

Detroit Set to Enter Michigan‘s Battle against Coinbase Prediction Markets

admin

Lawyers representing the US city of Detroit plan to file an amicus brief in Coinbase’s lawsuit against Michigan, which argues that federal regulators should have authority in overseeing prediction markets and not states.  In a Thursday filing in the US District Court for the Eastern District of Michigan related to state officials’ motion for a preliminary injunction, District Judge Shalina Kumar approved an order which will allow Detroit to file a brief supporting state authorities in their lawsuit against Coinbase. Kumar gave Detroit’s lawyers until April 3 to make the…

Anthropic wins early court fight over Pentagon blacklist and Trump ban

admin

Anthropic won a key early court victory after a federal judge in San Francisco granted the AI startup’s request for a preliminary injunction, temporarily blocking the Trump administration from enforcing actions that blacklisted the company and restricted federal agencies from using its Claude models. US District Judge Rita Lin found that Anthropic had shown a likelihood of success on core parts of its case, writing that the government’s actions appeared more punitive than security-driven. Reuters reported that Lin said punishing Anthropic for drawing public attention to the government’s contracting position…

Tech stocks lead Friday selloff as crypto breaks lower and gold and silver spike

admin

Technology stocks fell Friday as a broader market selloff intensified, with geopolitical tensions between the US and Iran, rising Treasury yields, and mounting concerns over AI spending all weighing on sentiment. The Magnificent Seven led the decline. Microsoft has been the weakest performer in recent weeks, down about 24% year to date and roughly 2% on Friday. Meta dropped around 4.3% on the day and is down about 18% this year, while Nvidia slipped 1.9% Friday and is off roughly 11% year to date. Alphabet fell about 2.4% on the…

US Lawmakers Publish Competing Crypto Tax Bill Proposal

admin

US Representatives Max Miller and Steven Horsford published a discussion draft bill on Thursday titled the ‘‘Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Yields Act’’ or the ‘‘Digital Asset PARITY Act,” to overhaul the tax code for digital assets. The Digital Asset PARITY Act seeks to overhaul the Internal Revenue Code of 1986 by adding provisions that would clarify the tax treatment of digital assets. The legislation said that stablecoins are not subject to gains if the cost basis, or the amount paid by the investor, does not fluctuate…

Citigroup said to weigh acquisition of US regional bank to strengthen deposits and lending

admin

Citigroup, a key player in global finance, is weighing a potential acquisition of a US regional bank or brokerage to boost deposits, expand branches, and strengthen lending operations, Bloomberg reported Friday, citing sources with knowledge of the matter. Discussions have included banks with around $500 billion in assets and brokerages like Stifel and Raymond James, with regulatory approval required under existing consent orders, according to the report. A successful acquisition would represent a major step under CEO Jane Fraser and could transform Citigroup’s footprint to better compete with JPMorgan and…

Coinbase Users Push Back against Prediction Markets Notifications

admin

Negative reactions to cryptocurrency exchange Coinbase using its notifications to push bets on event contracts amid the March Madness basketball tournament range from “annoying” to “absurd.” In January, Coinbase rolled out prediction market bets for US-based users as part of a partnership with Kalshi. However, for some users, the last two months have been seen as an opportunity for the exchange to get people “hooked on sports gambling” using an app that many had devoted to crypto trading. “I have received three separate notifications about College Basketball from Coinbase in…

Microsoft secures 900 MW AI capacity at Crusoe Texas campus with mid 2027 target

admin

Crusoe said Friday it is developing a new 900 megawatt AI factory campus in Abilene, Texas, to support Microsoft, expanding one of the largest AI infrastructure hubs in the US as hyperscalers race to secure power and data center capacity for next-generation AI workloads. The new campus will sit next to Crusoe’s existing Abilene infrastructure and include two buildings plus an onsite power plant designed to support grid resilience. Crusoe said the addition will bring the site’s total projected capacity to 2.1 gigawatts, with land clearing already underway and the…

Ethereum Loses $2K as Traders Expect a Deeper Correction in ETH Price

admin

Ether’s (ETH) drop below the $2,000 on Friday put it at risk of a deeper correction in the coming weeks or months. Key takeaways: Ether’s price shows structural weakness as it fails to hold above the $2,000 psychological support. Analysts say ETH price may drop further toward the $1,750-$1,850 support zone. Ether’s demand stays negative, increasing its downward potential.  Ether traders anticipate a deeper correction Data from TradingView showed ETH/USD trading at $1,975, down 5% over the last 24 hours. This drop was accompanied by more than $111 million in…

Oil and gold rally as Iran locks down key oil route to US and Israeli allies

admin

Oil markets continued to rally on Friday morning amid renewed strain in the Middle East. Iran’s Islamic Revolutionary Guard Corps (IRGC), a key instrument of Iran’s military and regional strategy, declared that any movement through the Strait of Hormuz by vessels tied to US and Israeli allies would face a forceful response, state media FARS reported. The group said its navy had already intercepted and redirected three container ships attempting to pass through the corridor. The move raised concerns about prolonged interruptions on a crucial oil route. Brent and other…