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A U.S. Representative has declared he will introduce legislation to have SEC boss Gary Gensler removed from his role. Securities and Exchange Commission (SEC) chair Gary Gensler could be facing unemployment after United States Representative Warren Davidson declared he would introduce legislation to fire the SEC boss. In an April 15 tweet responding to Coinbase’s legal chief, Paul Grewal, the crypto-friendly Representative announced his intention to have Gensler removed from his role after the SEC's latest announcement about revisiting the proposed redefinition of an "exchange." "To correct a long series of abuses, I am introducing legislation that removes the Chairman of the Securities and Exchange Commission and replaces the role with an Executive Director that reports to the Board (where authority resides)," Davidson tweeted. Yep. To correct a long series of abuses, I am introducing legislation that removes the Chairman of the Securities and Exchange Commiss...

BTC volatility is at a record low, inflows to spot markets remain muted and this week’s economic calendar suggests that volatility is set to rock the crypto market. Continuing with 2022’s trend, there is a lack of positive excitement in the crypto market. While Bitcoin (BTC) and altcoins have remained stagnant to start 2023, there are a few reasons why volatility could spike in January.  Market caps during the 2022 holiday period. Source: Arcane Research Winklevoss Letter to DCG stirs up bankruptcy FUD On Jan. 2, Cameron Winklevoss, the co-founder of Gemini, penned an open letter to Digital Currency Group (DCG) founder, Barry Silbert demanding answers on the $900 million in locked customer funds. Gemini launched the “Earn” program in coordination with Barry Silbert and the $900 million in customer funds have been locked since Nov. 16 due to DCG liquidity issues. After the letter, crypto Twitter began generating FUD toward DCG, believing there to be liquidity issues akin to 3 Arrows...

The news comes after Amber Group reportedly pulled back expansion plans due to financial exposure in the FTX collapse. Cryptocurrency trading firm Amber Group, which had roughly 10% of its trading capital stuck on FTX at the time of the exchange’s collapse, has report edly acquired crypto currency platform , Sparrow Holdings according to an announcement on Dec. 14. The Singaporean crypto platform Sparrow Holdings, which offers digital assets products and solutions, acquired its payments license from the Monetary Authority of Singapore in August, to provide Digital Payment Token (DPT) services in Singapore, under the Payment Services Act (PSA). Founded in 2018, Sparrow works with financial institutions and family offices in designing bespoke digital asset solutions to achieve customer-centric growth objectives, while maintaining compliance requirements.  Related: Amber Group uses simple hardware to show just how fast, easy the Wintermute hack was The news of Amber Group's acqui...

BTC bears are positioned to profit from this week’s Bitcoin options expiry, especially if price stays below $18,000. On Dec. 14, Bitcoin (BTC) broke above $18,000 for the first time in 34 days, marking a 16.5% gain from the $15,500 low on Nov. 21. The move followed a 3% gain in the S&P 500 futures in 3 days, which reclaimed the critical 4,000 points support.  Bitcoin/USD index (orange, left) vs. S&P 500 futures (right). Source: TradingView While BTC price started the day in favor of bulls, investors anxiously awaited the U.S. Federal Reserve Committee's decision on interest rates, along with Fed chair Jerome Powell's remarks. The subsequent 0.50% hike and Powell’s explanation of why the Fed would stay the course of its current policy gave investors good reason to doubt that BTC price will hold its current gains leading into the $370 million options expiry on Dec. 16. Analysts and traders expect some form of softening in the macroeconomic tightening movement. For tho...