Blockchain Adoption Week: A Recap of the Major Headlines
In a week where the Blockchain world makes giant strides towards massive adoption, we uncover the major happenings and many more insights.
U.S. Presidential Candidate Robert F. Kennedy Jr. Proposes Putting Entire U.S. Budget on Blockchain
United States presidential candidate Robert F. Kennedy Jr. has proposed placing the entire U.S. budget on the blockchain to increase transparency and allow all Americans to monitor government spending in real time. During a Michigan rally on April 21, Kennedy explained that this approach would enable every citizen to examine “every budget item anytime they want, 24 hours a day,” fostering greater accountability.
Kennedy Jr. suggested that by using blockchain technology, the U.S. could have “300 million eyeballs on our budget,” ensuring that every expenditure is visible to the public.
New York Stock Exchange Considers Crypto Style Round-the-Clock Trading
In a potential shift toward 24/7 trading, the New York Stock Exchange (NYSE) is contemplating round-the-clock operations, according to a recent survey. The NYSE’s data analytics team distributed the survey to stakeholders to gauge interest in nonstop trading, including weekends, contrasting with the current trading hours of 9:30 a.m. to 4 p.m. ET.
This development appears to be influenced by cryptocurrency markets, which typically operate around the clock. If implemented, nonstop trading could transform traditional markets, offering increased flexibility and aligning with global trends toward continuous trading.
X Payments Update: App to Function as Bank Account
The head of payments at X stated that users will eventually be able to send money, shop, and earn interest on their accounts, similar to a bank.
In an April 22 post, X’s CISO Christopher Stanley stated that the app’s payment features will include an in-app wallet for storing and sending money to other X users, expanding beyond just tipping.
Binance Sued in Canada for Securities Law Violations
This week, Binance faced a class-action lawsuit ⚖ in Canada, with plaintiffs accusing the cryptocurrency exchange of violating local securities laws.
Ontario’s Superior Court of Justice issued a certification motion for a class-action lawsuit against Binance on April 19, alleging unregistered sales of crypto derivatives to retail investors.
U.S. Prosecutors Seek 36-Month Imprisonment for Binance Founder Changpeng Zhao
U.S. prosecutors are seeking a 36-month prison sentence for Changpeng Zhao, the founder and former CEO of Binance, as detailed in a Tuesday court filing. According to the filing, Zhao’s violations of U.S. law were not accidental but deliberate decisions made to attract users, grow his business, and increase his profits. The Department of Justice (DOJ) highlighted that Zhao’s actions were intended to flout U.S. regulations and recommended an above-Guidelines sentence of 36 months.
‘Buy Bitcoin’ Sign that Photobombed Janet Yellen sells for $1M
A yellow notepad with “Buy Bitcoin” written on it, flashed behind then-Fed chair Janet Yellen during a 2017 hearing, sold at auction for 16 Bitcoin, over $1 million.
The buyer, “Justin” also known as “Squirrekkywrath,” won the Bitcoin auction on Scarce City; the auction ran for a week and ended on April 24 just after 11:00 pm UTC.
CryptoPunk NFT Sells for $12.41 Million in Sixth-Highest Sale of All Time
CryptoPunk #635 became the sixth-most expensive CryptoPunk NFT sale on Thursday, selling for 4,000 ETH, worth approximately $12.41 million, according to the CryptoPunks sales platform. Interestingly, the sale price was lower than a previous bid made on March 5, when someone offered 4,440 ETH, then worth $16.38 million, before withdrawing the bid on April 22.
ConsenSys Sues SEC, Challenging Authority Over Ethereum Regulation
ConsenSys, a key developer in the Ethereum ecosystem, has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC), challenging what it terms as an “unlawful seizure of authority” over Ethereum.
In this significant legal move, ConsenSys is seeking a federal court declaration that Ethereum (ETH) is not a security, and that any SEC investigation based on such a classification infringes upon ConsenSys’s Fifth Amendment rights and the Administrative Procedures Act.
