Trump Backs Bitcoin as Coinbase Trumps Slightly Over Sec
What’s up people 🤝
Welcome to another Coinigy roundup.
It looks like the crypto community is getting a Trump card, and your favorite rocket launching billionaire will be doing the errands. Meanwhile, Coinbase is giving the SEC a run for its money in the courtroom… Things you love to hear.
And in other news, Telegram chief, Pavel Durov has promised some fancy footwork on the platform after his adventure in the Paris prisons. 😀
Here are the highlights:
- Trump reiterates support for Bitcoin, picks Musk to lead government overhaul
- Telegram chief Durov condemns his arrest but promises to ‘improve’
- Coinbase scores partial legal win against SEC
- Bitcoin falls below $54k as market sees volatility following jobs data
Trump reiterates support for Bitcoin, picks Musk to lead government overhaul
Former President Donald Trump reiterated his support for Bitcoin and the wider crypto industry during a speech at the Economic Club of New York on Sept. 5 During his speech, Trump outlined a broader vision for a “national economic renaissance” and said his economic policies would foster emerging technologies and industries via clear regulations rather than stifling them. Trump said his administration would eliminate 10 regulations for each new regulation they enact to reduce the bloated federal supervision and promote the growth of industries within US borders.
Telegram chief Durov condemns his arrest but promises to ‘improve’
Pavel Durov, the Russian-born CEO of the messaging app Telegram, commented for the first time since his arrest last month in Paris on charges of publishing extremist and illegal content, calling the arrest “surprising” and the charges “misguided.” He also announced changes to some Telegram features and promised to “improve” the company’s efforts to prevent criminals from abusing its platform.
Coinbase scores partial legal win against SEC
Coinbase has secured a partial win in its legal battle with the SEC, marking a notable milestone in their ongoing conflict. This victory comes as the SEC attempts to enforce extensive discovery demands on the crypto platform, which could potentially lead to changes in the regulation of digital assets. During recent court hearings, Coinbase successfully argued against the SEC’s sweeping discovery requests, which aimed at understanding the exchange’s activities and adherence to regulations. In a Sept. 5 filing in the US District Court for the Southern District of New York, Judge Katherin Failla granted in part and denied in part Coinbase’s motion to compel discovery from the SEC.
Bitcoin falls below $54k as market sees volatility following jobs data
A federal judge has rejected Coinbase’s motion to dismiss a proposed class action lawsuit by shareholders, Reuters reported Sept. 6. The lawsuit accuses the largest US crypto exchange of downplaying the likelihood of being sued by the US Securities and Exchange Commission (SEC). US District Judge Brian Martinotti ruled on Sept. 5 that shareholders adequately alleged that Coinbase and top executives defrauded them.
Other Highlights Worth Mentioning
Coinbase scores partial victory in legal battle against the SEC - CryptoSlate
$11 Million Ethereum Transfer Sparks Fears of Price Crash - BeInCrypto
Ripple aims for $1 breakout as bullish pattern emerges - Bitget
Ripple Co-Founder Among Kamala Harris' New Corporate Endorsers - Coindesk