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Senator Cynthia Lummis and Representative Patrick McHenry urge President Biden not to veto SAB 121. In a letter sent on Thursday to President Biden, Senator Cynthia Lummis and House Financial Services Committee Chair Patrick McHenry, along with other lawmakers, referenced the bipartisan support in the House and Senate as a reason for not vetoing the measure. President Biden had previously announced his intention to veto the measure, which seeks to repeal the SEC’s staff accounting bulletin, SAB 121. Lawmakers urged President Biden to avoid vetoing the bill that would overturn a contentious SEC bulletin setting accounting standards for firms that custody cryptocurrencies. In the letter, Republican Senators Cynthia Lummis and Patrick McHenry, along with other lawmakers, cited the bipartisan votes in both the House and Senate as reasons to avoid the veto. Earlier in the month, both the House and Senate voted in favor of repealing the SEC's staff accounting bulletin, SAB 121, which has been controversial due to concerns from the crypto industry about its potential impact on banks' ability to safeguard digital assets. The bulletin requires firms holding crypto to list customer crypto holdings as liabilities on their balance sheets. “Given the overwhelming bipartisan votes, we urge you to sign H.J. Res. 109 into law or work with the SEC to rescind the staff guidance,” the lawmakers stated. “Rescinding SAB 121 is well within the SEC’s authority, and there is ample precedent for revisiting a staff accounting bulletin." The letter was also signed by Representatives French Hill, Andy Barr, Tom Emmer, Mike Flood, Ritchie Torres, Wiley Nickel, and Dan Meuser. The House had previously voted 228-182 in favor of the measure, with mostly Republicans and 21 Democrats supporting it. The Senate later voted 60-38, with several Democrats, including Senate Majority Leader Chuck Schumer, backing the measure. Read More in the comment section below 👇

The recent news on the former CEO of FTX, Sam Bankman-Fried. On Thursday, March 28th, 2024, he was sentenced to 25 years in prison for his role in the collapse of FTX, a once-giant cryptocurrency exchange. Here's a summary of the situation: Charges: Bankman-Fried was convicted of fraud and conspiracy charges related to the collapse of FTX in November 2022. He was accused of using customer deposits to cover losses at his hedge fund, Alameda Research. Sentence: A federal judge sentenced him to 25 years behind bars, along with forfeiture of over $11 billion. This money could potentially be used to compensate FTX customers who lost funds in the collapse. Apology: News reports indicate Bankman-Fried apologized to his former colleagues at FTX for the harm his actions caused. Do Kwon's Absence: It's important to note that this news is separate from the legal battle involving Terraform Labs and Do Kwon (though both involve cryptocurrency fraud allegations).

Terraform Labs is currently embroiled in a legal battle with the U.S. Securities and Exchange Commission, with Judge Rakoff presiding over the high-stakes trial. Both sides have faced criticism from the judge for veering off-topic during proceedings. The SEC has accused Terraform Labs and its founder, Do Kwon, of violating securities laws through fraudulent activities related to Terraform securities. Allegations include misleading investors about Chai Corp's involvement with TFL technology and misrepresenting the stability of the UST stablecoin. Despite Terraform Labs' defense against these claims, Do Kwon remains absent from the trial as he awaits extradition decisions. The potential consequences of the trial on Terra Lab's tokens, LUNA and LUNC, are uncertain. While recent upgrades have bolstered LUNA prices, concerns linger about the trial's outcome. Meanwhile, LUNC prices have experienced fluctuations, influenced by factors such as token burning and growing demand. Presently, LUNC is valued at $0.000161, with a market capitalization of $939.80. #LUNA #LUNC

Everything You Need To Know About World Coin #WLD $WLD Worldcoin is spearheaded by a team with an impressive track record in both tech and finance. Sam Altman, co-founder of OpenAI (a leading research institute in AI) and former president of Y Combinator (a prominent startup incubator), is a key figure. This is joined by Alex Blania, a seasoned entrepreneur with experience in building online communities, and Max Novendstern (departed in 2021), who brought expertise in cryptography and blockchain technology. Financial backing comes from Andreessen Horowitz, a venture capital firm known for its investments in successful tech companies like Airbnb and Facebook. This blend of tech mastery, financial acumen, and blockchain knowledge positions Worldcoin for strong growth potential. Revolutionizing Identity and Finance Worldcoin's core mission is to establish a global identity network that verifies users while safeguarding their privacy. This can significantly impact how we interact online and participate in the financial system. Here's a closer look at its potential: Worldcoin's identity verification system can enhance trust and security in online transactions. This can improve online marketplaces, social media platforms, and remote work environments. By providing a secure and universally recognized digital identity, Worldcoin can empower individuals who lack access to traditional financial services. This can open doors to new opportunities for the unbanked population. Worldcoin's ability to verify identity and disburse financial rewards has the potential to disrupt existing systems for data verification and online payments. Why Investors Should Consider Worldcoin Worldcoin's focus on creating a global human identity network addresses a fundamental challenge in the digital age. The team's credentials, combined with the coin's potential to disrupt traditional systems, make Worldcoin an intriguing investment opportunity. If Worldcoin achieves its ambitious goals, it could become a significant player in shaping the future of online identity and finance.

#BitcoiGold #BTG Bitcoin Gold and The Team Behind it. Bitcoin Gold is unique in having a decentralized development team. Unlike many other cryptocurrencies, it doesn't have a single founder or leadership structure. This fosters a community-driven approach to development, with contributions from developers around the world. Bitcoin Gold's Potential: Decentralized Mining and Beyond Bitcoin Gold's primary focus is on decentralizing the Bitcoin mining process through the use of an algorithm called Equihash. This algorithm is designed to be resistant to ASICs (specialized mining hardware), making it possible for users with standard GPUs to mine BTG. Beyond its mining focus, BTG aims to be a user-friendly and secure alternative to Bitcoin. It incorporates features like SegWit for faster transactions and lower fees. Why Investors Should Consider Bitcoin Gold: A Play on Decentralization Bitcoin Gold's commitment to decentralization and its focus on user accessibility make it an interesting investment proposition for those who believe in a more democratic cryptocurrency landscape. The potential for BTG to gain traction as a mining-friendly coin adds to its appeal. Overall, Bitcoin Gold's unique approach to mining and its community-driven development position it as a cryptocurrency with the potential to disrupt the established order.

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