The U.S. Department of Homeland Security is reportedly investigating the cryptocurrency company Anchorage Digital Bank. According to a new Barron’s report, the federal agency’s El Dorado Task Force, which combats money laundering and other financial crimes, has contacted Anchorage Digital Bank employees to inquire about the company’s practices and policies. Barron’s cites anonymous sources who are “familiar with the inquiry.” The specific reason for the probe remains unclear. A spokesperson for Anchorage declined to comment, while representatives for Homeland Security didn’t provide a comment. Back in 2022, Anchorage was ordered by the Office of the Comptroller of the Currency (OCC) to improve its controls around client due diligence, monitoring suspicious customer activity and other anti-money-laundering measures. In the banking regulator’s consent order, the OCC said Anchorage was in violation of the Bank Secrecy Act, which covers anti-money laundering requirements and reporting. At the time, Anchorage said it had “already been working to strengthen the areas identified and will continue to bolster these areas, reinforcing a new, digital asset standard” to combat money laundering. Anchorage remains under the consent order. Earlier this year, Anchorage Digital CEO Nathan McCauley complained that a US bank essentially turned off their bank account for unexplained reasons after two years of working with the lender. “Our story is pretty ridiculous… We had a bank that we had a growing relationship with for a number of years, who basically on a dime, decided to turn off our bank account.” The CEO, who didn’t mention the bank’s name, said the bank cut them off in June 2023, around the same time that numerous reports of “Choke Point 2.0” – an alleged coordinated effort by the government to shut down the crypto industry – were running rampant. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post U.S. Homeland Security Initiates Probe Into Crypto Bank Anchorage Digital: Report appeared first on The Daily Hodl .
Crypto traders are increasingly looking for self-custodial platforms that are easy to use. Glider wants to fill that niche. DeFi platforms are lagging behind their CEX counterparts, largely due to a lack of user-friendly features. For this reason, Andreessen Horowitz led a $4 million funding round for Glider, a self-custodial DeFi platform for crypto trading. The platform will combine AI features with DeFi. For one, it will use AI to help users manage their funds in an automated way, without having to perform every trade themselves. This could involve picking a few coins, picking trending tokens, or a basket of crypto assets based on certain criteria. You might also like: AI agents: The key to blockchain’s future or its biggest risk? | Opinion At the same time, users will retain full custody over their assets, which boosts the platform’s security. This sets Glider apart from other asset managers, including Bitwise and Grayscale, says the company’s co-founder Brian Huang. “It’s a lot like these traditional finance advisors, but we do it completely non-custodial,” Brian Huang, Glider. Glider plans to launch in the coming months Venture funds that also participated in the funding round were Coinbase Ventures, Uniswap Ventures, and GSR. However, the company did not disclose the valuation at which these funds were raised. What is more, these firms despite the fact that Glider has not yet launched its product. You might also like: Solving the payment problem for AI in web3 | Opinion While Glider is still testing its technology, it aims to launch its platform in the coming months. The company will monetize through charging a management fee, taking a percentage of the users’ assets under its management. AI has been one of the hottest trends in venture capital last year. At the same time, investors are increasingly becoming comfortable with using AI in investment. For instance, in 2023, a survey found that one in three U.S. investors were comfortable with taking investment advice from a tool that’s powered by generative AI. Read more: AI crypto tokens at risk as Nvidia faces restrictions on China exports
Local Chinese governments are reportedly contemplating how to get rid of their burgeoning stashes of seized crypto assets. According to a new report by Reuters, local governments in China are debating how to efficiently dispose of digital assets seized from illegal transactions. Lawyers familiar with the matter told Reuters that the lack of rules around what authorities should do with seized crypto assets has created uncertainty. However, lawyers, judges, and police are coming up with ways to treat seized cryptocurrencies. Reuters says it viewed transaction documents showing that local authorities are using third-party companies to sell the seized digital assets for cash to “replenish public coffers.” However, Chen Shi, a professor at the Zhongnan University of Economics and Law, says that the government’s current method is “a makeshift solution that, strictly speaking, is not fully in line with China’s current ban on crypto trading.” Guo Zhihao, a senior partner at Beijing Yingke Law Firm who attended a seminar to discuss this topic in January, told Reuters that authorities selling the digital assets directly conflicts with the nation’s ban on trading crypto assets. According to Guo, China’s central bank is better equipped to handle digital assets as it could sell them overseas and/or establish a strategic reserve with them. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Local Chinese Governments Mulling How To Dispose of Growing Stockpile of Seized Crypto Assets: Report appeared first on The Daily Hodl .
Powell's comments on crypto indicate a shift towards a more supportive stance. Ongoing US-China tensions are affecting cryptocurrency markets significantly. Continue Reading: Powell’s Insights on Cryptocurrency Spark Interest and Debate The post Powell’s Insights on Cryptocurrency Spark Interest and Debate appeared first on COINTURK NEWS .
The post SEC vs Ripple Update: Motion to Temporarily Suspend Appeal Granted; What Next for XRP Price? appeared first on Coinpedia Fintech News Closing the four-year legal battle opens a new chapter for XRP mainstream adoption, catalyzed by Ripple Labs’ payment products. XRP price must hold above the support level of about $2 to invalidate further market correction. The Donald Trump administration has gradually fulfilled its promises made during the campaign period to the crypto ecosystem. The successful replacement of Gary Gensler with crypto-friendly SEC chair Paul Atkins has helped expedite the closure of several web3-related cases, including against Ripple and Binance exchange . SEC vs Ripple Case Update Earlier on Wednesday during the mid-North American trading session, James K Filan, a prominent defense lawyer, released court documents dated April 16 regarding the SEC vs Ripple appeal. According to the court documents, Circuit Judge José A. Cabrenas granted a joint motion, filed by the U.S. SEC and Ripple to temporarily suspend their appeals amid the case closure. “The parties jointly move to hold this appeal in abeyance, with the U.S. SEC directed to file a status report within 60 days of this order,” the court order noted . Meanwhile, Ripple Labs agreed to pay a $50 million fine to settle the longstanding case. XRP Price Analysis After closing the first quarter in bearish sentiment, XRP has attempted to regain a bullish outlook in the past few weeks. The large-cap altcoin, with a fully diluted valuation of about $206 billion and a 24-hour average volume of about $3.45 billion, has been forming a potential reversal pattern in the daily timeframe. The XRP price, against the U.S. dollar, has formed a possible inverse head and shoulders pattern, coupled with a bullish divergence of the daily Relative Strength Index (RSI). As a result, if the XRP price holds above the support level of around $2 and remains above the YTD falling logarithmic trend, a target of between $2.8 and $3 will be achievable.
Pi Network (PI) experiences a significant downturn, with a 10% drop as bearish indicators signal a shift in market sentiment. Simultaneously, the Chaikin Money Flow (CMF) plunged to -0.13, highlighting
Key Takeaways: South Korean presidential candidate Hong Joon-pyo promises to cut strict crypto rules. Friendly crypto regulations in the U.S. have propelled bank charter applications and job creation, which Hong hopes to replicate. Hong’s crypto regulation plans and ongoing AML policy-foreign investors discussions could spark growth for digital assets. South Korean presidential candidate Hong Joon-pyo recently promised to ease crypto regulations, following the example set by Trump in the U.S. SOUTH KOREAN CANDIDATE HONG JOON-PYO PLEDGES TRUMP-STYLE CRYPTO DEREGULATION Hong Joon-pyo, a presidential candidate from South Korea’s ruling People Power Party, has vowed to dismantle crypto regulations “to the extent seen under the Trump administration.” He aims to promote… pic.twitter.com/c9Idpla8dc — Crypto Town Hall (@Crypto_TownHall) April 16, 2025 He believes cutting red tape will unlock the potential of blockchain technology and support the nation’s economic growth and recovery. Is Trump’s Crypto Regulations Becoming an Electoral Strategy in Asia? Hong Joon-pyo, a leading candidate in the People Power Party’s presidential primary, unveiled his policy blueprint on April 16 at the Daeha Building in Yeouido, according to a local news report . The candidate stated that, like the Trump administration in the U.S., he would follow a similar regulatory rollback to create a supportive environment for digital assets and blockchain development. Hong Joon-pyo is betting that the same formula could work in South Korea and also capture the enthusiasm of pro-crypto voters ahead of the Presidential election to be held on June 3, 2025. South Korea is a global crypto hotspot. With over 15 million crypto users — many of them young and politically engaged — crypto policies are bound to be a key issue heading to the polls. Last year, during the parliamentary elections, both parties courted these young voters — many of whom are in their 20s and 30s — by making a series of promises, including tax delays. Just like in the U.S., where crypto PACs spent over $100 million to support candidates, South Korean voters are bound to shape policy debates and decide who wins power in Seoul. Hong’s attempt to mirror President Trump’s crypto strategy follows a wave of international developments that put pro-crypto policies in the spotlight. Trump’s administration replaced key regulators with more crypto-friendly figures. Mark T. Uyeda succeeded former SEC Chair Gary Gensler, and a new CFTC chair was appointed to reshape the crypto policy. In March, POTUS signed an executive order to create a Strategic Bitcoin Reserve and a Digital Asset Stockpile that included Ethereum, Ripple, Solana, and Cardano. 50 Trillion Pledge: Hong’s Vision Extends to AI and Quantum Tech Beyond crypto, Hong outlined five key economic strategies. These included plans for a public-private economic revival, super-gap technology-led growth, fairer distribution based on productivity, people-centered job creation and welfare, and responsible national debt management tied to economic growth. He pledged an investment of at least 50 trillion won over the next five years to back these goals. This funding would target the artificial intelligence and quantum technology sectors. Hong’s plans show the nation’s growing interest in blockchain and digital assets. Last August, the National Pension Service (NPS), one of the largest public pension funds in the world, acquired 245,000 shares in Strategy (formerly MicroStrategy) , valued at $33.75 million. The fund had earlier also bought over 280,000 shares in Coinbase . These moves suggest that crypto is no longer fringe in South Korea. It’s becoming a central pillar of investment, strategy, and perhaps election politics. Could Banking Alliances Spur Crypto Growth? South Korea’s banks are also pushing for practical changes in how crypto services are delivered. Major financial institutions have asked lawmakers to relax current rules restricting crypto exchanges to exclusive partnerships with just one bank because of the belief that this stifles competition. Banks argue that exclusivity has skewed the benefits, and a potential change would better serve institutional clients and offer regular users more options. Meanwhile, South Korea’s financial regulator is showing a willingness to revisit another key issue: foreign investor access to the domestic crypto market . Right now, non-residents are blocked due to strict know-your-customer (KYC) rules. One major roadblock is the requirement for users to link exchange accounts to locally registered bank accounts. However, Kim Sung-jin, who heads the virtual asset division at the Financial Services Commission (FSC), has recently voiced support for easing these restrictions. The post South Korean Candidate Vows ‘Trump-Style’ Crypto Deregulation—Will 15M Users Put Him in Office? appeared first on Cryptonews .
U.S. stocks see major losses, tech stocks fare the worst as Nvidia risks a $5.5 billion revenue loss due to export restrictions on China. After this week’s relatively low volatility, U.S. stocks are tumbling again. This time, tech stocks and Nvidia were leading the declines. On Wednesday, April 16, Nasdaq was trading at 16,216.68, losing 606.49 points or 3.61%. Still, the rest of the market also suffered, as investors turned bearish due to fears of a trade war. Dow Jones fell 613 points or 1.55%, trading at 39,742.32. At the same time, the S&P 500 was down 125.78 points or 2.33%. You might also like: Ray Dalio, who predicted the 2008 crisis, says the US is on the brink of something worse than a recession. Is Bitcoin reserve a solution? The recent Bank of America survey suggests that recession fears are growing, with a net 42% of investors expecting a global recession. Notably, this is the fourth highest level this figure has been in 20 years. Investors are also looking to cut their exposure to the U.S. dollar, with nearly 61% believing that the USD would fall in the next 12 months. At the same time, safe haven assets like gold are on the rise. You might also like: Bloomberg warns of a financial crisis: will it boost Bitcoin, altcoins? The stock market decline also impacted Bitcoin (BTC) , which reached a daily low of $83,100 before stabilizing at $84,233. Despite its higher volatility, Bitcoin remained relatively resilient compared to the U.S. market. Nvidia leads market declines Leading the declines was Nvidia, down 8.49% to $102, after estimating a major loss in revenue. Namely, the company projected that Washington’s new restrictions on AI chip exports to China would cost it a total of $5.5 billion in expected revenue losses for the first quarter of 2025. You might also like: AI crypto tokens at risk as Nvidia faces restrictions on China exports According to the company, the U.S. government informed it that it would need an export license to sell its H20 chips to China. These advanced AI chips are used to train AI models like OpenAI’s ChatGPT. Washington is concerned about the potential for China to use these chips to train its own AI models, like those of DeepSeek . You might also like: Dimon warns tariffs may push U.S. toward recession, hits crypto slide (BTC)
OpenAI's o3 and o4-mini models introduce breakthrough image reasoning for enhanced performance in reasoning, visual, and coding tasks. The post OpenAI unveils o3 and o4-mini with breakthrough image reasoning appeared first on Crypto Briefing .
Gold prices are expected to reach significant highs in the coming years. Bitcoin dominance continues to rise, impacting altcoin performance negatively. Continue Reading: Gold and Cryptos: What Market Trends Reveal Right Now The post Gold and Cryptos: What Market Trends Reveal Right Now appeared first on COINTURK NEWS .