Former | Crypto

Johnson said that he could understand why gold and Pokémon cards have investment appeal but not Bitcoin, which he characterized as a scam. Boris Johnson, the former prime minister of the United Kingdom, called Bitcoin (BTC) a “Ponzi Scheme” that has less value than Pokémon cards, collectibles he said had a wide appeal and a multi-decade history. Johnson wrote an opinion article published in the Daily Mail on Friday that began with a story about a friend who had given 500 British pounds, or about $661, to a man who promised to “double his money” by investing it in BTC. The friend continued to pay additional “fees” to the scheme’s promoter over the next three and a half years, but was never able to retrieve his funds, despite sinking 20,000 British pounds, or about $26,474, which led to financial hardship, Johnson said.  Read more

Former Mt. Gox CEO is urging the Bitcoin community to consider a network hard fork designed to retrieve nearly 80,000 Bitcoin linked to the platform’s historic hack. The post Former Mt. Gox CEO Proposes Hardfork to Recover $5.2B in BTC appeared first on Cryptonews.

Former SEC attorney Teresa Goody Guillen backed Ripple’s view that speculation alone should not trigger securities laws, responding to concerns over the CLARITY Act. A response posted to the US Securities and Exchange Commission’s Crypto Task Force page echoed concerns raised by Ripple that speculation alone should not automatically subject cryptocurrencies to federal securities laws, as lawmakers continue debating the CLARITY Act. The response, written by former SEC attorney Teresa Goody Guillen and published Monday as public input on the SEC’s website, argued that holding a “passive economic interest,” such as buying a token in hopes its price rises, should not, by itself, trigger securities regulation. Guillen wrote that digital assets should instead be assessed using a broader set of factors applied on a sliding scale. “I agree with Ripple’s assertion that “[f]rameworks suggesting that a ‘passive economic interest’ alone could trigger securities laws mistakenly conflate speculation with investment rights ...

Four days after Uniswap Labs and the Uniswap Foundation proposed merging their operations and activating the long-awaited fee switch, a X spat between the protocol’s founder and Gary Gensler’s former chief of staff reopened wounds that the crypto industry thought had healed. The exchange wasn’t just about a governance vote, it was a proxy war […] The post Former SEC aide and Uniswap founder clash over decentralization’s true role appeared first on CryptoSlate.

Former rugby player Shane Donovan Moore was sentenced to 2.5 years in US federal prison for running a $900,000 crypto mining Ponzi scheme. Former rugby player Shane Donovan Moore was sentenced to two-and-a-half years in a US federal prison for defrauding more than 40 investors out of $900,000 in a crypto mining Ponzi scheme. According to a Thursday Department of Justice announcement, Moore operated Quantum Donovan LLC from January 2021 to October 2022. Through the company, he reportedly defrauded over 40 investors out of more than $900,000. While promoting the scheme, Moore claimed that the funds raised would be spent on cryptocurrency mining hardware. He promised investors daily returns of 1%. Read more

American economist Kenneth Rogoff believes that the rise of crypto poses a threat to the hegemony of the U.S. dollar. Rogoff previously served as the chief economist at the International Monetary Fund (IMF) and on the Federal Reserve Board. He is a published author and an economics professor at Harvard University. In an interview with […] The post Former IMF chief economist believes crypto is a rising threat to the U.S. Dollar’s dominance appeared first on CryptoSlate.

Commodity Futures Trading Commission (CFTC) Commissioner Summer Mersinger will depart the agency on May 30 to become the Blockchain Association’s new CEO, effective June 2, according to a May 14 announcement. The announcement states that Mersinger’s appointment comes at a critical legislative moment for digital assets in Washington, where the Blockchain Association is pushing for […] The post Former front-runner for CFTC chair role resigns to lead Blockchain Association appeared first on CryptoSlate.