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Ted Cruz Bill Aims to Block Fed from Creating CBDC, Citing Financial Privacy and Innovation

> The bill, cosponsored by Senators Braun (R-Ind.) and Grassley (R-Iowa), seeks to prevent the federal government from using a CBDC as a financial surveillance tool.

> The move comes as countries like China develop CBDCs that lack the benefits and protections of cash, as well as the control and security of existing digital cryptocurrencies.

> The proposed legislation emphasizes the importance of protecting financial privacy, maintaining the dollar's dominance, and fostering innovation in the United States' digital currency policy. Details here.

Crypto exchange Bitget acquires controlling stake in crypto wallet provider Bitkeep

> According to a statement from Bitget, the acquisition is an important move that will allow the company to expand its business territory to the wallet sector, providing native storage and asset management services.

> The controlling stake is well above 51%, but the specific stake percentage and how much Bitget has previously invested in BitKeep remain undisclosed.

> However, Bitget's managing director Gracy Chen noted that the company invested in BitKeep in 2021 and 2022 without making the information public. More here.

XRP Tokens Surge Over 20% on Reports of Ripple Winning Landmark Case Against SEC

> XRP is currently trading at 45 cents with trading volumes of over $5 billion, and some traders have been caught offside, with over $17 million worth of xrp-tracked futures liquidated in a higher-than-usual figure, according to Coinglass data.

> Ripple made a new filing this week in support of its fair notice defense, referencing rulings on SEC objections in the Voyager Digital Holdings bankruptcy case.

> The basis for Judge Wiles rejecting the SEC objections endorsed many of the arguments presented by Ripple defendants in the filing. Full report here.

Luno Prepares for Future Public Listing, Promotes Top Executives to Boost Growth

Luno, a cryptocurrency exchange, has taken steps to boost growth and prepare for a future public listing, according to a press release shared with CoinDesk.

> The company has promoted its top two executives, with CEO Marcus Swanepoel taking on a new role as executive chairman and COO James Lanigan being promoted to CEO.

> Swanepoel expressed his excitement for the next chapter of the company's journey as they continue to put the power of crypto in everyone's hands.

> In December, Luno's co-founder and chief technology officer, Timothy Stranex, left the company to pursue personal projects.

> To finance growth, facilitate expansion, expedite market share acquisition, and prepare for a future public listing, Luno has hired Canaccord Genuity Group to attract new institutional and strategic investors. Details here.

Australian Banks to Report Exposure to Crypto Startups to Prudential Regulation Authority on a Daily Basis

> As an independent authority accountable to the Australian Parliament, APRA is responsible for maintaining the safety and soundness of financial institutions to protect the interests of depositors and other stakeholders.

> In the wake of recent collapses of crypto banks, APRA has requested that banks improve their reporting around crypto assets to gain more insight into exposures and vulnerabilities in the system. Full report here.

U.S. Senators Warren and Wyden Slam Auditors for "Sham" Crypto Audits

> The senators expressed their concerns about the role of shady audits in providing crypto firms with an illusion of financial stability.

> In a letter addressed to PCAOB chair Erica Williams, Warren, and Wyden referred to the limited audits conducted by PCAOB-registered firms Prager Metis and Armanino for the bankrupt crypto exchange FTX before its collapse.

> The senators stated that the use of these sham audits misleads the public and poses a threat to the integrity of the auditing system. More here.

Crypto Influencer Ben Armstrong Accused of Harassing Lawyers in FTX Lawsuit

> The lawsuit claims that Armstrong and other FTX influencers promoted the FTX crypto fraud without disclosing compensation.

> The class-action suit seeks $1 billion in damages. The filing stated that Armstrong began harassing the lawyers with endless phone calls, tweets, and emails after the suit was filed, leaving voicemails that were full of vulgarities and specifically targeted the lawyers.

> The voicemails included alleged threats to Adam Moskowitz, one of the lawyers involved in the class-action suit, such as "we're going to have First Amendment protesters around your house 24/7 day and night." Details here.

SEC Issues Wells Notice to Coinbase over Potential Violations

> In a regulatory filing, Coinbase revealed that the notice relates to its spot market, staking service Coinbase Earn, Coinbase Prime, and Coinbase Wallet and that the SEC could seek "injunctive relief, disgorgement, and civil penalties."

> A Wells notice is a warning that the SEC is considering bringing an enforcement action against a company.

> Coinbase described the investigation as "cursory" and said the notice provided "relatively little information" about the alleged violations.

> However, the exchange's services will continue to operate as usual until any legal process has been resolved. Full report here.

SEC Charges Justin Sun with Fraud and Unregistered Securities Offering, Tron Token Falls

> The SEC has accused Sun of offering and selling unregistered crypto asset securities and fraudulently manipulating TRX's secondary market through wash trading.

> As a result, other assets related to Sun, including Sun token (SUN), just (JST), and Huobi (HT), have also experienced drops ranging from 8% to 10%.

> Despite having a total supply of 91.15 billion, Tron's market capitalization now stands at $5.47 billion, with a 24-hour trading volume of approximately $421 million. Details here

Bitcoin Drops Below $27k as Fed Dashes Hopes of End to Hawkish Interest Rate Increases

> The SEC has accused Sun of offering and selling unregistered crypto asset securities and fraudulently manipulating TRX's secondary market through wash trading.

> As a result, other assets related to Sun, including Sun token (SUN), just (JST), and Huobi (HT), have also experienced drops ranging from 8% to 10%.

> Despite having a total supply of 91.15 billion, Tron's market capitalization now stands at $5.47 billion, with a 24-hour trading volume of approximately $421 million. Details here

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Cryptocurrency roundup for March 23: New Bill introduced by Ted Cruz, XRP Trading volume reaches $5... - Moneycontrol

Over the past 24 hours, Chainlink's LINK/USD price has risen 4.18% to $7.62. This continues its positive trend over the past week where it has experienced a 14.0% gain, moving from $6.74 to its current price. As it stands right now, the coin's all-time high is $52.70.

The chart below compares the price movement and volatility for Chainlink over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

Chainlink's trading volume has climbed 22.0% over the past week along with the circulating supply of the coin, which has increased 0.34%. This brings the circulating supply to 491.60 million, which makes up an estimated 49.16% of its max supply of 1.00 billion. According to our data, the current market cap ranking for LINK is #21 at $3.79 billion.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Cryptocurrency Chainlink's Price Increased More Than 4% Within 24 ... - Benzinga

Lido DAO's LDO/USD price has decreased 3.48% over the past 24 hours to $2.39, continuing its downward trend over the past week of -9.0%, moving from $2.61 to its current price.

The chart below compares the price movement and volatility for Lido DAO over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has tumbled 51.0% over the past week while the circulating supply of the coin has risen 0.29%. This brings the circulating supply to 857.73 million, which makes up an estimated 85.77% of its max supply of 1.00 billion. According to our data, the current market cap ranking for LDO is #33 at $2.05 billion.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Cryptocurrency Lido DAO Falls More Than 3% In 24 hours - Benzinga

The growth of crypto philanthropy unlocks a new donor demographic for not for profits, but the sector needs to be less afraid of change, an industry expert says.

If you asked charities about their stance on cryptocurrency a de-centralised and non-government controlled unit of currency a few years ago, its likely you would have been met with hesitation, negativity or even outright dismissal.

Fast forward to today and crypto philanthropy is becoming mainstream. Not only are charities more frequently receiving crypto donations, the size of these donations are significantly larger than their cash counterparts.

US-based crypto fundraising platform The Giving Block helped facilitate more than US$69 million to not for profits around the world in 2021, an increase of more than 1,000 per cent from the year before. Meanwhile, the average value of crypto donations was 82 times larger than the average online cash donation, at US$10,455 compared to US$128, in the same time period.

Despite its popularity, many charities are still afraid to enter the crypto space, a decision that The Giving Blocks co-founder Alex Wilson believes shuts organisations off from a critical donor market, threatening their long-term success.

Not only are non-profits alienating an entire demographic of donors when they choose not to accept crypto, they are also closing themselves off to potential major donations, said Wilson.

Crypto donors are some of the most financially literate donors on the planet, and they understand the benefits of donating crypto directly. Most crypto donors are also young, high-net-worth individuals that many charities have had difficulties engaging.

Accepting crypto donations provides an opportunity to fundraise from this coveted donor demographic.

Tapping into this donor market is especially important in the coming years, given Australian philanthropy is set to experience its largest intergenerational wealth transfer of over $3 trillion across the next two decades.

Several high-profile charities have already started accepting crypto donations in all its forms, including the 30 Australian not for profits that partner with The Giving Block, such as UNICEF Australia, Habitat for Humanity and Rainforest Rescue.

See more: Cryptos the word lessons from one charitys journey into cyber donations

The topic of cryptocurrency more broadly is front of mind for the entire sector.

Earlier this year, the Australian Charities and Not-for-profits Commission (ACNC) issued new guidance on crypto-assets, labelling them as a high-risk investment that are typically not appropriate for charities, and urging organisations to consider the risks involved in both investing in and accepting crypto.

Commissioner Sue Woodward said that in general, the risks connected with a charity investing in crypto-assets are greater and harder to manage than the risks connected with accepting donations of this kind.

It is critical that those who run charities develop their understanding or seek advice to ensure they are making the right decision for their charity, she said.

See more: Do you need a crypto policy for donations?

But while the ACNC is cautious, Wilson says the appetite for crypto in Australia echoes international trends and will only continue to grow.

Australian non-profits accepting crypto donations is quickly growing, Wilson continued.

Crypto is borderless, so it is one of the few ways that people can donate to their favourite causes regardless of where they are located. Were seeing the same giving trends in Australia as we see in the US and Europe.

The crypto community has grown year over year, and there is no reason to think that it wont continue to grow over the next decade.

See more: Cryptocurrency-funded groups called DAOs are becoming charities here are some issues to watch

While crypto is an emerging area that many in the sector believe is important to invest in, charities should view it as another tool to utilise in fundraising, not a silver bullet.

Wilson argues that one of the most effective ways to fundraise is by engaging with the crypto community through social media, as crypto donors are younger and more digitally-savvy than other donor bases.

He also suggests charities immediately convert crypto donations received into dollars, which removes the volatility associated with the crypto market.

As the co-founder of a crypto fundraising platform, Wilson is keen to encourage charities to be comfortable with not understanding everything about the industry.

One of the most frequent things we hear from new clients is that they tried to research the industry and immediately felt overwhelmed by all of the new terms, concludes Wilson.

You dont need to understand cryptocurrency in order to crypto fundraise, so try not to overwhelm yourself with the technical jargon.

However, the ACNC advises a more careful approach, suggesting that charities and their Responsible People ensure they understand how crypto-assets work, as well as their potential benefits and risks.

Charities wanting to learn more about crypto can read the ACNCs guidelines here.

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There's no need to fear, cryptocurrency is here - Pro Bono Australia

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Fidelity Investments has quietly opened access to bitcoin and ether trading to all of its retail traders, filling a void created by the closures in recent days of cryptocurrency-friendly banks that bridged the divide between digital and traditional finance.

The Fidelity Crypto platform, previously available only to institutions and some waitlisted customers, was made available earlier this month. Individual investors can now buy and sell bitcoin and ether and use custodial and trading services provided by Fidelity Digital Assets.

Clients are not yet able to transfer cryptocurrency to or from their Fidelity accounts. The company said it would be exploring cryptocurrency transfers in November, shortly after announcing the waitlist, but hasnt provided a clear timeline.

The separation of investors from the passwords known as private keys that allow direct owners to take custody of their cryptocurrencies combined with the inability to transfer holdings means that Fidelity retains custody of the assets. A string of bankruptcies among crypto exchanges and investment programs last year illustrated the drawbacks of entrusting digital assets to intermediaries, though Fidelitys size and reputation likely mitigates the risk.

The company has not responded to a Forbes request for more information.

Trading is open only to U.S. citizens over the age of 18 who reside in one of the 36 states where Fidelity Digital Assets offers services.

Following the footsteps of stock-trading app Robinhood and crypto exchange Binance.US, the asset manager has touted the offering as commission-free, but theres a catch: a 1% fee will be added to each transaction. The company calls the fee a spread and defines it as the difference between your execution price and the price at which Fidelity Digital Assets fills your order.

The move comes at a time when the U.S. cryptocurrency market is facing regulatory pressure, sparked by multiple high-profile collapses last year, and closures of crypto-friendly banks including the Silicon Valley Bank, Silvergate and Signature.

Still, the Fidelity service provides both the credibility that crypto has needed and the opportunity for investors, most of whom rely on their financial advisors for investment strategies, says Ric Edelman, a financial advisor and founder of Digital Assets Council of Financial Professionals.

In addition to cryptocurrency trading, Fidelity also provides, Fidelity Ethereum Index Fund, which tracks the performance of the coin in U.S dollars. In December, the asset manager filed three trademark applications for providing NFT and metaverse investment services.

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Amid Crypto Bank Crisis, Fidelity Expands Bitcoin, Ether Trading To Most Retail Accounts - Forbes