Consensus 2024, CZ begins jail time, crypto scams abound | Weekly Recap

As a researcher with a background in finance and experience following the cryptocurrency industry, I find today’s news particularly intriguing. The ongoing discussions at Consensus 2024 regarding crypto regulations in the U.S. are of great importance to me, given the potential impact on the entire industry.

In this week’s recap, we cover notable discussions between industry titans on crypto regulations at Consensus 2024. Furthermore, Binance founder Changpeng Zhao starts serving his prison sentence. The crypto world is also shaken by fraudulent schemes and rug pulls. Lastly, venture capital investments abound in various projects.

    Trump’s cryptocurrency portfolio, consisting of several crypto assets, saw a spike to $10 million, primarily largely due to a price increase in MAGA (TRUMP), a meme coin created as a parody of the newly convicted felon’s mantra.
  • After the House of Reps approved the FIT21 bill in what seemed like a political move to appease the crypto industry, Chair of the U.S. House Financial Services Committee Patrick McHenry urged the Senate to ensure that they also vote in favor of the bill. 
  • Despite the recent shift in stance, the Biden administration vetoed a bill looking to limit the SEC’s oversight of the crypto industry by repealing SAB 121. The U.S. Senate and House of Reps had voted to pass the bill. 

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2024-06-02 19:57