Dear PointPay Family,
The week has come to an end, and it's time to reflect on the highlights. The crypto world has been buzzing with exciting and noteworthy developments, and we’ve handpicked the top 5 events that stood out the most. Check out our article to stay informed and make sure you don’t miss a thing!
Trump pardons Silk Road founder Ross Ulbricht
Ross Ulbricht, the founder of the infamous Silk Road online marketplace, has been granted a full pardon by former US President Donald Trump. Ulbricht, who had been serving a life sentence since 2015 for facilitating over $200 million in illicit transactions via Bitcoin, was released from an Arizona federal prison following the announcement.
Trump's decision fulfills a campaign promise, marking a significant shift in the political approach to cryptocurrency regulation. The clemency, described as "full and unconditional," allows Ulbricht the chance to rebuild his life after over a decade in prison.
Cuban-linked Solana memecoin triggers $30M rug pull
A memecoin scandal tied to the Cuban government has rocked the crypto world, leading to losses of $30 million in under 24 hours. The official Solana-based memecoin, $CUBA, along with others like CUBA 2.0, quickly gained traction before vanishing, leaving investors empty-handed.
Adding to the controversy, the Cuban Ministry of Foreign Affairs’ social media posts promoting the tokens were abruptly deleted, fueling speculation about a potential account hack. While Cuba is working on regulating cryptocurrencies, this event underscores the risks of unvetted crypto projects.
Man abandons decade-long hunt for $742M lost Bitcoin fortune
James Howells, the Welsh IT professional who accidentally discarded a hard drive containing 8,000 Bitcoins in 2013, has officially ended his pursuit. Now worth €742 million, the lost cryptocurrency lies beneath thousands of tons of trash in a Newport landfill.
Despite plans involving drones and robots to recover the drive, Howells faced insurmountable legal and environmental barriers. Local authorities repeatedly denied excavation requests, citing health and ecological risks, forcing him to abandon his efforts.
SEC launches task force for crypto regulation under Trump administration
The US Securities and Exchange Commission (SEC) has announced the formation of a dedicated task force to develop a clear regulatory framework for digital assets. This move aligns with former President Donald Trump’s promise to foster a more crypto-friendly environment.
Led by Acting SEC Chair Mark Uyeda, the group aims to establish clear registration pathways, information disclosure standards, and enforcement protocols to ensure compliance without stifling innovation. This initiative signals a significant shift in US crypto policy direction.
Bank of America: US financial system ready for crypto payments
The American financial system is well-prepared to adopt cryptocurrency transactions, according to Bank of America CEO Brian Moynihan. While banks have hesitated to embrace crypto for retail payments, enthusiasm for Bitcoin ETFs and potential regulatory clarity under Donald Trump’s administration could change that.
Moynihan noted that if crypto is normalized under updated regulations, banks will treat it as just another payment method, alongside credit cards and Apple Pay. The shift could position the US banking sector as a leader in crypto-enabled transactions.
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