A bill that promises regulatory clarity for digital assets has moved a step closer to a vote in the U.S. House. The House Committee on Rules said Friday (May 10) that it will consider the Financial Innovation and Technology for the 21st Century (FIT21) Act (H.R. 4763), which means the bill could go to a floor vote later in
There might be as many opinions about crypto as there are cryptocurrency tokens. And with tens of thousands of digital assets populating the crypto market, that’s certainly a lot of opinions. That sheer scale of noise is in part why it can be so challenging to get a clear view of the Web3 landscape —
The nonprofit group Stand With Crypto reportedly formed a political action committee (PAC) to support candidates who are friendly to cryptocurrency and blockchain. The new PAC aims to raise money from Stand With Crypto’s 440,000 members, Reuters reported Friday (May 10). “The goal is to endorse candidates and support candidates that are protecting the rights of our advocates of Stand With
Crypto goes up, and crypto goes down. Then, often, crypto goes back up. It can be a dizzying and volatile cycle. Just collapsed cryptocurrency exchange FTX’s customers, who, having once feared they’d lost their collective billions, can now take solace from the news Tuesday (May 7) that FTX’s bankruptcy team is ready to repay them
Expensify will add travel booking and management capabilities to its financial management platform for expenses and corporate cards. The new Expensify Travel will begin rolling out next week in the Expensify web and mobile apps and will later be integrated into the new chat-based super app, New Expensify, the company said in a Wednesday (May
Banks are seeing a slide in demand for loans — at the same time that they’re tightening lending standards. And the pressures, as noted in the most recent Federal Reserve survey of loan officers through the “Senior Loan Officer Opinion Survey on Bank Lending Practices,” have impacted all manner of loan types, spanning commercial and
Phone, keys, wallet. That’s the daily routine that tens of millions if not billions — of people undergo each morning when checking their pockets or purses before they leave their homes to start the day. And with the recent news that telecommunications giant Vodafone is planning to integrate cryptocurrency wallets and blockchain-based payment solutions directly into mobile phone
Bots account for a vast majority of stablecoin transactions, recent Visa research shows. Fewer than 10% of these transactions come from genuine users, according to a new metric from Visa and Allium Labs, showing that just $149 billion of the $2.2 trillion in total transactions last month came from “organic payments activity.” The findings were flagged in a report Sunday (May 5)
Private equity companies are reportedly stepping up efforts to compete with banks on low-interest loans. For example, the Financial Times (FT) reported last week, Apollo Global has increased its long-term forecasts for its lending business, telling investors it expected to be able to originate more than $200 billion a year in new loans, up from $150 billion. Apollo Co-President
Cryptocurrency startups are reportedly engaging in aggressive fundraising as the digital asset space recovers. As Bloomberg News reported Saturday (May 4), this approach entails an open-ended form of fundraising that keeps money flowing and fast-tracks valuations. It’s the opposite of the standard venture capital strategy of low-key rounds spaced out over years. “When a deal