The U.S. Federal Reserve took a decisive step this Thursday by lowering its key interest rate by 25 basis points, bringing it to a range of 4.5%-4.75%. This decision, coming the day after Donald Trump's electoral victory, immediately propelled the crypto market to new heights, with Bitcoin reaching an all-time high of $76,951.

After several months of campaigning, Donald Trump scored a remarkable return to the White House, winning the just concluded presidential elections. Trump returns to office alongside a Republican Senate majority.

Detroit is making history as the first major American city that will permit cryptocurrency to pay for its services.

Former SEC commissioner Dan Gallagher, 45, has emerged as a top candidate to lead the Securities and Exchange Commission (SEC) following Donald Trump's presidential election win.

With President-elect Donald Trump preparing to take office in January 2025, many in the crypto sector anticipate a shift in the Securities and Exchange Commission's (SEC) approach to cryptocurrency regulation.

Dubai, United Arab Emirates, 8th November 2024, Chainwire

South Korea's largest crypto exchange, Upbit, announced that it will launch DRIFT trading pairs for Korean Won, BTC, and USDT on Nov. 8.

Out of all the crypto scams plaguing users, private key theft and phishing are among the most prevalent a blockchain security firm has said. Speaking to Cryptopolitan, a spokesperson for blockchain security firm CertiK said, “Phishing attacks are especially effective because they typically target human vulnerabilities rather than technical ones.

Detroit is set to make history as the largest U.S. city to accept cryptocurrency payments for taxes and municipal fees. This initiative was announced by city officials and will launch in mid-2025 through a secure platform managed by PayPal.

The crypto billionaire did not reveal the identities of the interested parties. He holds 90 percent of the stake in the crypto exchange.

The recent US elections on November 5 have reshaped the political space and appear to have significant implications for the cryptocurrency industry. Coinbase CEO Brian Armstrong expressed optimism in a post-election “reflection”, emphasizing that the political winds gradually shift toward digital assets.

A governance proposal to rebrand the decentralized finance protocol Sky back to its original Maker name has been decisively rejected in a vote heavily influenced by a small number of whale investors. The post Whales Reject Proposal to Rebrand DeFi Protocol Sky to Maker appeared first on Cryptonews.

The City of Detroit will carry out crypto transactions through a “secure platform” managed by payments giant PayPal. The post US City Detroit to Accept Cryptos for Tax Payments Via PayPal appeared first on Cryptonews.

Caroline Ellison, former CEO of Alameda Research, has reported to prison to begin a two-year sentence following her involvement in the FTX scandal.

Italy's economy minister on Thursday showed willingness to reconsider the proposed crypto capital gains tax hike after pressure from lawmakers in his own party. The post Italy's Economy Minister Considers Revising 42% Crypto Tax Plan After Party Pushback appeared first on Cryptonews.

The California state regulator suspended the collapsed crypto lender's license in November 2022. It blamed the platform for failing to consider borrowers' ability to repay their loans, among other things.

As per the latest report, the Donald Trump administration is likely to consider Dan Gallagher as a replacement for US SEC chair Gary Gensler. The transition is likely to happen soon after Trump resumes office in January 2025, as the demand to fire Gensler grows from the crypto community.

Robinhood's legal chief, Dan Gallagher, is reportedly one of the top picks to head the SEC under Trump, who promised to fire its current chair “on day one.”

Key Points:

Just four MKR whales constituted 98% of the voting power in favor of sticking with the Sky rebrand.

WonderFi CEO was forced into a vehicle but released after a ransom was paid.

North Korean hackers are now using phishing emails instead of their previous tactic of social media grooming, a research firm has found.

According to a recent report by Reuters, SEC Commissioner Hester Peirce is not interested in spearheading the agency.

Detroit's got something different in store for 2025: it's letting residents pay taxes and fees in cryptocurrency. This makes Detroit the largest U.S. city aiming to add crypto to its accepted payment methods. This is a bold move for a city eager to embrace tech innovation.

The co-founder and former Chief Technology Officer of the collapsed FTX exchange, Gary Wang, pleaded with the court in a November sentencing submission to consider not giving him a prison sentence for his contribution to the FTX collapse. In the November 6 filing, Wang's legal team explained that Wang remained an important contributor to securing evidence against the former FTX CEO Sam Bankman-Fried.

Gary Wang, FTX's co-founder, has asked through his legal team for a non-custodial sentence in a memo filed last November 6th in connection with the United States v. Sam Bankman-Fried.

Canaan Inc. has unveiled an upgraded Avalon Miner A15 series, boasting improved hash rates and power efficiency to meet the growing demands of cryptocurrency mining.

Significant changes are on the horizon for the SEC, predicts Coinbase's legal chief, who foresees a Trump-led agency narrowing its focus to fraud instead of sweeping industry crackdowns. SEC Faces Reckoning — Crypto Industry Awaits New Dawn in Washington Coinbase Chief Legal Officer Paul Grewal foresees “significant changes” to the U.S.

The potential departure of SEC Chair Gary Gensler after Trump's presidential victory is sparking a rally in cryptocurrencies, especially Ether, amid hopes for lighter regulation.

Dean Skurka, CEO of Toronto-based WonderFi Technologies, was reportedly abducted in downtown Toronto during rush hour on November 6. The post Crypto Firm CEO Kidnapped, Freed After Paying $1 Million Ransom: Report appeared first on Cryptonews.

Binance, one of the world's largest crypto exchanges, has achieved a new milestone as its open interest (OI) surged to an all-time high (ATH) of $8.3 billion, according to a report by CryptoQuant analyst Burak Kesmeci. This increase, representing a 10.24% growth over the past 24 hours, emphasizes Binance's substantial share of global crypto futures positions.

Starting in mid-2025, Detroit tax payments will accept cryptocurrency, facilitated through PayPal's secure platform.

A newly elected, pro-crypto Congress is set to reshape U.S. policy, says Coinbase CEO, with 281 advocates ready to drive clear regulations and economic freedom.

The Fed interest rates cut by 0.25%, lowering the target range to 4.50%-4.75%, continuing its efforts to adjust monetary policy.

Starting in mid-2025, Detroit residents will be able to pay with popular cryptos like Bitcoin and Ethereum through a PayPal-managed platform.

In an event that shocked the crypto space, the CEO of WonderFi- a Canada crypto leader firm got kidnapped. He was kidnapped during rush hour in Toronto's busy downtown. How were kidnappers able to pull this off in a crowded area? Let's dig deeper into this case to understand what actually happened.

Detroit is set to become the first major U.S. city to accept cryptocurrency for taxes and other city fees, top officials from the city said in a Thursday press release. What Happened: Residents would have the option to use cryptocurrencies to pay for utilities through a secure platform managed by PayPal.

Explore ChatGPT's insights on blockchain gaming's future, discussing digital ownership, NFTs, and industry challenges as the gaming world evolves.

A pro-crypto Congress takes shape as more than 280 newly elected crypto-friendly allies promise to drive bold reforms, fueling momentum for a decentralized financial future. A New Congress Emerges, Driven by Crypto Voters and Rising Influence The U.S.

Trump's transition team is considering Robinhood CLO Dan Gallagher, Paul Atkins, and Robert Stebbins as candidates for SEC chair, with a decision expected soon.

In the lead up to the United States presidential election, Republican candidate Donald Trump made more than a few promises for the crypto industry. Now that he has been elected, big changes could be on the horizon.

Detroit says the move to begin accepting crypto as payment for taxes and other city services was part of a broader effort to “modernize and improve” its payment channels.

The Yemassee monkey escape sparks memes, conspiracies, and Hollywood nostalgia.

President-Elect Donald Trump's transition team is considering a roster of corporate attorneys and Republican regulators for leadership roles in key financial agencies, with plans to present a finalized shortlist soon, Reuters reported Nov. 7, citing sources familiar with the discussions.

Republican SEC Commissioner Mark Uyeda suggests pausing new enforcement actions against firms that have failed to register with the commission until clear rules of the road in place

Cryptocurrency-executive-turned-government-witness Caroline Ellison's stint in prison is officially underway. Ellison, whose testimony helped convict FTX founder Sam Bankman-Fried for fraud last year, arrived at a Connecticut low-security federal prison Thursday (Nov. 7), CNBC reported, citing a Bureau of Prisons spokesperson.

Ohio's Senate race delivered a major win for the crypto industry, as Bernie Moreno unseated crypto critic Sherrod Brown, signaling a shift toward pro-digital finance leadership.