Exits – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Fri, 22 Aug 2025 21:18:36 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.9 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Exits – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Head of IRS Crypto Work Exits as U.S. Tax Changes Loom For Digital Assets https://earlybirdsinvest.com/head-of-irs-crypto-work-exits-as-u-s-tax-changes-loom-for-digital-assets/ https://earlybirdsinvest.com/head-of-irs-crypto-work-exits-as-u-s-tax-changes-loom-for-digital-assets/#respond Fri, 22 Aug 2025 21:18:35 +0000 https://earlybirdsinvest.com/head-of-irs-crypto-work-exits-as-u-s-tax-changes-loom-for-digital-assets/

The head of the U.S. Internal Revenue Service’s digital assets unit, Trish Turner, is leaving her post for the private sector just as new tax policies are set to potentially bring in a wave of crypto work for the agency.

As she departs, it’s unclear who will be running the office that’s been leading the tax agency’s crypto work as a major shift in U.S. digital assets taxation is on the horizon. Turner’s exit comes after the IRS set several new rules and forms in motion to direct taxation requirements for individual crypto investors and their brokers. And the departure comes after two other top officials on crypto work, Seth Wilks and Raj Mukherjee, already left through the Trump administration’s budget-slashing campaign earlier this year.

The tax arm of the Treasury Department is poised to experience a massive influx of crypto-sector filings while it’s also weathering deep budget and staffing cuts in excess of 20,000 employees. IRS staffing — long a target of Republican lawmakers — has experienced a long-term decline from about 113,000 three decades ago to about 76,000 at a recent count.

One of the major crypto changes at the IRS was the new 1099-DA form that millions of investors will be receiving from their crypto brokers. About 3 million taxpayers have previously disclosed they had crypto transactions — a number that’s likely much higher in reality, setting up a potential glut of newly disclosed crypto taxpayers as the policies come online. The IRS didn’t respond to questions about Turner’s departure and who will take over.

“Digital assets have shifted from a niche issue to a core focus for global regulators, and I am proud to have helped lay the foundation for oversight in this fast-changing space,” Turner said in a statement to CoinDesk. “Now, I’m excited to be moving to the other side of the table to help taxpayers, businesses, and institutions understand their obligations and navigate those same rules with confidence.”

Among the private-sector roles she’s taking on, Turner will be tax director at the firm CryptoTaxGirl, a tax business that specializes in crypto transactions, and will also do work with the UK firm Asset Reality, she said.

Laura Walter, CTG’s founder, said in a statement that Turner’s arrival will help “ensure our clients receive the highest level of guidance, protection, and confidence in their filings.”

For years, crypto investors and businesses have struggled through U.S. tax uncertainties, with no third-party documentation to make their tax-filing requirements clear. So a large segment of digital assets holders have skipped their crypto tax calculations in past years, further muddying the water for the IRS.

Because the new 1099-DA forms will be flowing from crypto investors’ accounts at such firms as Coinbase and Kraken early next year, those recipients will be under increased pressure to work out and disclose their tax positions. But one IRS rule that sought to treat certain decentralized finance (DeFi) platforms as brokers was overturned by Congress in April, leaving treatment of that corner of the crypto sector on less certain ground.Read More: The Coming Crypto Tax Bomb

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Nvidia DLSS 4 transformer model exits beta, set to bring improved graphics to more games https://earlybirdsinvest.com/nvidia-dlss-4-transformer-model-exits-beta-set-to-bring-improved-graphics-to-more-games/ https://earlybirdsinvest.com/nvidia-dlss-4-transformer-model-exits-beta-set-to-bring-improved-graphics-to-more-games/#respond Thu, 26 Jun 2025 06:02:59 +0000 https://earlybirdsinvest.com/nvidia-dlss-4-transformer-model-exits-beta-set-to-bring-improved-graphics-to-more-games/

Why it matters: Most people think of multi-frame generation when they hear about Nvidia DLSS 4, but the transformer model upgrade in DLSS Super Resolution might be the update’s most consequential upgrade. Many games can already benefit from the feature, and it’s likely to become the standard across upcoming releases.

The latest version of Nvidia’s DLSS Super Resolution and Ray Reconstruction SDK, released on Wednesday, brings the transformer model out of beta. Promoting the upscaling technology into DLSS’s stable branch will likely broaden its adoption in upcoming PC games.

First introduced in January alongside Nvidia’s RTX 50 series graphics cards, the vision transformer model replaces the long-standing convolutional neural network previously used in DLSS. This marks the most substantial improvement to Nvidia’s image reconstruction method since DLSS 2 popularized the technology in 2020.

Also read: DLSS 4 Upscaling at 4K is Actually Pretty Amazing

Although DLSS has earned praise for using machine learning to scale images to higher resolutions with good image quality over the past several years, the process isn’t without visual flaws. Issues that often occur include ghosting, shimmering, and smearing. Ray Reconstruction, which combines denoising for ray tracing with the DLSS algorithm, can also sometimes worsen the problem.

DLSS 4’s transformer model alters the algorithm to minimize these blemishes, resulting in a noticeably cleaner image, even when upscaling from half resolution in performance mode.

Our testing shows that, while AMD’s competing FSR 4 method beats DLSS 3, DLSS 4’s transformer model takes the lead. While Nvidia’s marketing for DLSS 4 mostly focuses on multi-frame generation, which is exclusive to the RTX 50 series GPUs, the transformer model which improves upscaling quality on games supports RTX 20 series and newer.

Also check out: DLSS 4 Ray Reconstruction Analysis: Fixing Ugly Ray Tracing Noise

While many prominent games such as Doom: The Dark Ages, Dune: Awakening, Stellar Blade, and F1 25 have adopted the beta version of DLSS 4 since January, some notable recent titles still default to DLSS 3, such as The Alters, Oblivion Remastered, Expedition 33, and Assassin’s Creed Shadows.

The next major game to upgrade to DLSS 4 will likely be Diablo IV when the Season 9 update launches on July 1.

Users can also force DLSS 4’s transformer model into many older DLSS-compatible titles in the Nvidia App by navigating to Graphics > selecting the desired game > clicking on DLSS Override Model Presets under Driver Settings > and selecting Latest in the drop-down menu.

You can also try third-party apps like DLSS Swapper, DLSS Updater, or Optiscaler.

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New Demand For Bitcoin Is Drying Up Fast – Capital Exits At Scale https://earlybirdsinvest.com/new-demand-for-bitcoin-is-drying-up-fast-capital-exits-at-scale/ https://earlybirdsinvest.com/new-demand-for-bitcoin-is-drying-up-fast-capital-exits-at-scale/#respond Fri, 20 Jun 2025 19:34:54 +0000 https://earlybirdsinvest.com/new-demand-for-bitcoin-is-drying-up-fast-capital-exits-at-scale/

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin has entered a prolonged phase of sideways price action, trading in a tight consolidation range just below its $112,000 all-time high. Since late May, BTC has repeatedly tested the upper boundary around $110,000 but has failed to break above it convincingly. At the same time, bears have been unable to push the price lower in a meaningful way, keeping Bitcoin locked in a stagnant pattern.

This lack of direction is frustrating both bulls and bears, with many analysts expecting a major move to unfold soon. On-chain metrics suggest that market momentum may be fading, especially among newer participants. According to data from CryptoQuant, short-term holders currently hold 4.5 million BTC, which is 800,000 fewer than they held on May 27. This signals a significant drop in speculative demand, as “new money” appears to be drying up in the current market environment.

Without fresh inflows of capital or a strong shift in sentiment, Bitcoin may continue hovering near key resistance for the time being. However, as history shows, such compressions often precede explosive volatility, making the coming days potentially pivotal for Bitcoin’s next major trend.

Volatility Grows But Bitcoin Holds Strong Above Key Support

Bitcoin continues to weather macro and geopolitical turbulence, holding firm above the critical $103,600 support despite growing volatility. As Middle East conflicts escalate and macroeconomic pressures mount—including rising US Treasury yields and persistent inflation risks—financial markets remain fragile. Yet, Bitcoin appears to thrive in this uncertain environment, consolidating with resilience near all-time highs.

Market analysts remain split on what’s next. Some suggest that Bitcoin needs clearer signals, particularly from geopolitical or economic developments, before it can break out in either direction. Others argue that BTC is simply building energy for the next leg up, and price discovery beyond $112,000 is only a matter of time.

However, recent on-chain data from CryptoQuant suggests that bullish momentum may be fading, at least temporarily. Short-term holders, often the most reactive participants in the market, have reduced their holdings to 4.5 million BTC. That’s a drop of 800,000 BTC since May 27. Even more striking is the demand momentum, which has now fallen to –2 million BTC—the worst reading on record. This suggests new money is no longer entering the market at meaningful levels, dampening the potential for an immediate rally.

Bitcoin Demand Momentum | Source: CryptoQuant on X
Bitcoin Demand Momentum | Source: CryptoQuant on X

Despite these metrics, Bitcoin’s ability to stay above $103,600 reflects underlying strength. As the market enters a potential inflection point, this equilibrium may soon give way to a decisive move—up or down.

BTC Price Holds Steady Within Key Range

The daily Bitcoin chart shows BTC continuing to consolidate within a well-defined range, trading between $103,600 and $109,300. Since reaching its all-time high of $112,000 in late May, price action has flattened, signaling indecision among market participants. The 50-day simple moving average (SMA) is now acting as dynamic support, aligning closely with the $104,700 region, while the $109,300 zone has repeatedly served as resistance, rejecting further upside attempts.

BTC holding the 50-day MA | Source: BTCUSDT chart on TradingView
BTC holding the 50-day MA | Source: BTCUSDT chart on TradingView

Volume remains relatively low, reflecting a lack of conviction from both bulls and bears. However, despite several tests of the lower boundary near $103,600, Bitcoin has not broken down, suggesting buyers are still absorbing sell pressure and defending the trend. On the upside, any daily close above $109,300 could open the door to a retest of the $112,000 level and potentially new highs.

This tight structure sets the stage for a breakout. Momentum will likely build once the price escapes this zone, especially with macroeconomic uncertainties and geopolitical tensions driving volatility. Until then, traders should monitor how BTC behaves around these boundaries, as a decisive move in either direction will likely dictate short-term market sentiment.

Featured image from Dall-E, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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DOGE Down: Elon Musk Exits White House Budget-Cut Gig https://earlybirdsinvest.com/doge-down-elon-musk-exits-white-house-budget-cut-gig/ https://earlybirdsinvest.com/doge-down-elon-musk-exits-white-house-budget-cut-gig/#respond Mon, 02 Jun 2025 02:23:46 +0000 https://earlybirdsinvest.com/doge-down-elon-musk-exits-white-house-budget-cut-gig/

Elon Musk is leaving his post at the Department of Government Efficiency (DOGE), a White House initiative aimed at cutting federal spending and jobs.

His exit comes as his 130-day term as a Special Government Employee nears its legal end on May 30.

Musk confirmed in a May 29 post on X, where he thanked President Donald Trump for the opportunity to “reduce wasteful spending”. A White House official told Reuters that the off-boarding process would begin that evening.

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According to an interview with CBS, Musk criticized a major tax cut bill passed by House Republicans on May 22, as it would raise the national deficit and work against DOGE’s goals.

In a May 27 interview with The Washington Post, he also stated that the situation within the federal government was more challenging than expected. He described the effort to bring change as an “uphill battle”.

DOGE said it has helped save the public $175 billion since President Trump returned to office on January 20.

However, several media outlets pointed out problems in the math and called the number misleading. Even if correct, the savings fall short of Musk’s original goal of cutting $2 trillion from the federal budget. That goal was later revised to $150 billion.

In a post on X, Musk noted that DOGE’s efforts will “only strengthen over time” and become more common in government operations.

Meanwhile, Brian Armstrong, CEO of the cryptocurrency exchange Coinbase, recently invited former DOGE staff to consider joining the company. What did he say? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


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Tesla Shares Rise After Elon Musk Exits DOGE Role https://earlybirdsinvest.com/tesla-shares-rise-after-elon-musk-exits-doge-role/ https://earlybirdsinvest.com/tesla-shares-rise-after-elon-musk-exits-doge-role/#respond Thu, 29 May 2025 06:44:07 +0000 https://earlybirdsinvest.com/tesla-shares-rise-after-elon-musk-exits-doge-role/

Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has…

Last updated: 


Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas – from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Key Takeaways:

  • Tesla shares rose over 2.15% after Musk confirmed his exit from the DOGE role.
  • Investors welcomed the news, viewing it as a sign of Musk refocusing on Tesla.
  • Musk criticized federal inefficiencies and plans to scale back political involvement.

Tesla shares surged over 2.15% in overnight trading to $364 after CEO Elon Musk revealed he is stepping down from his role as Special Government Employee overseeing the Department of Government Efficiency (DOGE) under the Trump administration.

The move follows a 1.65% decline in Tesla stock during regular trading hours on Tuesday, closing at $356.90, according to data from Google Finance.

Musk’s announcement, shared via his social media platform X, appeared to reassure investors concerned about his growing political involvement and its impact on Tesla’s core business.

“As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending,” Musk posted.

DOGE to Continues its Mission

Musk said that while his own role has concluded, the mission of DOGE will continue within government operations.

The White House confirmed Musk’s departure was already underway as of Wednesday evening.

The billionaire’s brief foray into federal reform had focused on streamlining bureaucracy, but insiders say his efforts were often met with internal resistance.

Throughout the past week, Musk has been increasingly vocal about his dissatisfaction with Washington.

He openly criticized Trump’s tax plan as bloated and counterproductive, and described the federal government’s internal inefficiencies as worse than expected.

In an interview with the Washington Post, Musk admitted, “It’s an uphill battle trying to improve things in DC.” He added that DOGE had become a scapegoat for failures within the administration.

Behind the scenes, Musk reportedly clashed with key White House officials and publicly derided trade adviser Peter Navarro over tariffs.

His growing frustration extended beyond domestic politics; Musk also reportedly opposed a deal between OpenAI and Abu Dhabi, objecting to his own AI company’s exclusion.

Further complicating his political entanglements, Musk had invested $25 million in a failed Wisconsin judicial campaign and pledged another $100 million to pro-Trump groups — money that has yet to materialize, according to The New York Times.

Despite the controversies, DOGE has managed to shrink the federal civilian workforce by 12% through buyouts, early retirements, and restructuring — a feat Musk frequently touted.

Tesla Investors Ask Musk to Focus on EV Company

Some Tesla investors had urged Musk to cut back on his political involvement and focus on leading the EV company.

His exit from DOGE may mark a shift back to Tesla-centric priorities, with markets responding positively.

Musk, who spent nearly $300 million supporting Republican campaigns last year, said at a recent economic forum that he plans to reduce his political contributions. “I think I’ve done enough,” he said.

As reported, the Securities and Exchange Commission (SEC) has agreed to allow DOGE representatives access to its internal systems and data, effectively treating them as staff for integration and network purposes.


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Hyperliquid Trader James Wynn Exits $1.25B Long Bitcoin Bet at a Loss  https://earlybirdsinvest.com/hyperliquid-trader-james-wynn-exits-1-25b-long-bitcoin-bet-at-a-loss/ https://earlybirdsinvest.com/hyperliquid-trader-james-wynn-exits-1-25b-long-bitcoin-bet-at-a-loss/#respond Sun, 25 May 2025 06:14:56 +0000 https://earlybirdsinvest.com/hyperliquid-trader-james-wynn-exits-1-25b-long-bitcoin-bet-at-a-loss/

Author

Jai Pratap

Author

Jai Pratap

About Author

Jai serves as the Asia Desk Editor for Cryptonews.com, where he leads a diverse team of international reporters. Jai has over five years of experience covering the web3 industry.

Last updated: 


Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas – from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Crypto trader James Wynn has closed a massive $1.25 billion Bitcoin long on Hyperliquid—built with 40x leverage—at a $13.4 million loss, despite briefly sitting on $40 million in paper profits. The trade, one of the largest ever on the platform by a single trader, had a liquidation price of $105,179.

Trader Cuts Losses After Bitcoin Dips on Hyperliquid

Wynn began his Bitcoin long position with $830 million on May 21, trimming $400 million in profits the same day. By May 22, the trader increased the position back up to $1.1 billion as BTC crossed $110,000 and gained nearly $40 million in unrealized profits. He later sold 540 BTC for $60 million, securing a $1.5 million profit.

The crypto trader confirmed on X that he “cut his losses” on closing his highly leveraged long positions.

Before going all in on Bitcoin, James Wynn had closed a long position on PEPE for a profit of $25.19 million.

Bitcoin was cruising to new all-time highs this week before it dipped on Trump’s 50% tariff announcement on all EU imports. The leading cryptocurrency saw a local bottom at $107,431 on late Saturday. At the time of writing, Bitcoin is trading at $108,238.

Hyperliquid Sees One of Biggest Trades by a Single Trader

The decentralized crypto exchange Hyperliquid saw one of the biggest trades by a single trader when James Wynn opened a long position that reached $1.25 billion. This long bet signifies a shift among traders as trust of DEX increases. The native token of the exchange HYPE saw its demand rise as the price increased to $34.64, up 4.2% in the last 24 hours.


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Abu Dhabi sovereign wealth fund Mubadala expands Bitcoin exposure via IBIT while Wisconsin fund exits crypto ETF https://earlybirdsinvest.com/abu-dhabi-sovereign-wealth-fund-mubadala-expands-bitcoin-exposure-via-ibit-while-wisconsin-fund-exits-crypto-etf/ https://earlybirdsinvest.com/abu-dhabi-sovereign-wealth-fund-mubadala-expands-bitcoin-exposure-via-ibit-while-wisconsin-fund-exits-crypto-etf/#respond Fri, 16 May 2025 03:39:01 +0000 https://earlybirdsinvest.com/abu-dhabi-sovereign-wealth-fund-mubadala-expands-bitcoin-exposure-via-ibit-while-wisconsin-fund-exits-crypto-etf/

Abu Dhabi sovereign wealth fund Mubadala raised its exposure to Bitcoin (BTC) during the first quarter, purchasing 491,000 shares of BlackRock’s iShares Bitcoin Trust (IBIT), according to its latest Form 13-F filing.

Mubadala held 8,726,972 shares of IBIT as of March 31, up 6% from the previous quarter and worth approximately $408.5 million at the end of March and over $512 million at current prices.

Despite broader price volatility, the share count increase highlights the sovereign wealth fund’s commitment to Bitcoin. Based on its public disclosures, the fund’s IBIT position accounts for roughly 0.14% of its $302 billion in total assets under management.

Notably, Abu Dhabi has other significant state-owned investment vehicles, such as the Abu Dhabi Investment Authority (ADIA), the Abu Dhabi Developmental Holding Company (ADQ), and the Emirates Investment Authority (EIA).

Wisconsin exits Bitcoin ETF exposure

The State of Wisconsin Investment Board (SWIB), which manages assets for the Wisconsin Retirement System and other state-managed funds, reported no Bitcoin exchange-traded fund (ETF) holdings as of March 31, effectively liquidating its exposure in the first quarter. 

In its fourth quarter filing, SWIB had disclosed 6,060,351 shares of IBIT valued at $321.5 million. That represented a 110% increase from the 2,898,051 shares it held during the second quarter of 2024.

SWIB’s position had previously replaced its holdings of Grayscale’s GBTC, which it held through the second quarter of 2024. However, the complete exit reflected in its latest filing suggests a reassessment of short-term exposure to crypto through ETF structures.

The contrasting strategies between Mubadala and SWIB reflect a divergence in state-backed positioning toward Bitcoin amid a volatile pricing environment in early 2025. 

While Mubadala opted to expand its exposure through a higher share count despite a declining asset value, SWIB’s liquidation points to reduced risk tolerance or a pivot in portfolio strategy.

Both filings provide updated data on institutional investors’ response to Bitcoin’s volatility through ETF-based access as traditional finance integrates with crypto.

Mentioned in this article
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US Department of Justice Exits Crypto Policing with Immediate NCET Shutdown https://earlybirdsinvest.com/us-department-of-justice-exits-crypto-policing-with-immediate-ncet-shutdown/ https://earlybirdsinvest.com/us-department-of-justice-exits-crypto-policing-with-immediate-ncet-shutdown/#respond Sun, 13 Apr 2025 18:44:36 +0000 https://earlybirdsinvest.com/us-department-of-justice-exits-crypto-policing-with-immediate-ncet-shutdown/

The US Department of Justice is said to be closing down the National Cryptocurrency Enforcement Team (NCET), according to a memo reviewed by Fortune.

The memo states that the shutdown is effective right away and is being carried out in response to an executive order signed by President Donald Trump in January.

The note, dated April 8, was written by Deputy General Todd Blanche and points to a shift in approach under President Trump.

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Blanche, who now holds a senior position at the DOJ, previously served as President Trump’s lawyer in several legal matters, including cases tied to classified documents and the 2020 election. In the memo, he explained:

The Department of Justice is not a digital assets regulator. However, the prior Administration used the Justice Department to pursue a reckless strategy of regulation by prosecution.

The NCET was launched in October 2021 while Joe Biden was in office. Deputy Attorney General Lisa Monaco said at the time that the group’s goal was to target platforms that allowed criminals to move or hide illegal funds.

She noted that the unit was created to better target the financial networks that support such activity and to stop wrongdoers from benefiting from it.

The DOJ announced that it had taken control of cryptocurrency funds it said were intended to support Hamas. How did the DOJ manage to do this? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


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Kristin Smith Exits Blockchain Association for Solana Policy Institute https://earlybirdsinvest.com/kristin-smith-exits-blockchain-association-for-solana-policy-institute/ https://earlybirdsinvest.com/kristin-smith-exits-blockchain-association-for-solana-policy-institute/#respond Mon, 07 Apr 2025 04:28:09 +0000 https://earlybirdsinvest.com/kristin-smith-exits-blockchain-association-for-solana-policy-institute/

The head of the Blockchain Association in the US, Kristin Smith, is set to leave her position on May 16 and join a new group focused on Solana
SOL


$103.31

.

Starting May 19, Smith will become president of the Solana Policy Institute. The news was shared in an April 1 update from the Blockchain Association, which did not give a reason for her decision or name a replacement.

She has been with the Blockchain Association since 2018. Previously, she worked in government as deputy chief of staff for a former Montana congressman. Her next role at the Solana Policy Institute will focus on helping public officials understand Solana and its uses.

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Smith also shared her resignation in an April 1 post on X, stating, “After an incredible journey as CEO of Blockchain Association, I’m stepping down from my role as CEO on May 16. Leading this organization <…> has been an honor”.

She will not be joining the new group alone. Miller Whitehouse-Levine, who led the DeFi Education Fund, is also moving to the Solana Policy Institute as its CEO. In a statement, Whitehouse-Levine said the group aims to help US policymakers learn more about Solana.

The Solana Policy Institute, launched on March 30, describes itself as a nonprofit that does not support any political party.

Meanwhile, Donald Trump Jr. and Eric Trump are supporting a new Bitcoin
BTC


$77,643.39

mining venture called American Bitcoin. What did Trump Jr. have to say about it? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


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Derivatives Exchange Deribit Exits Russian Market Amid EU Sanctions https://earlybirdsinvest.com/derivatives-exchange-deribit-exits-russian-market-amid-eu-sanctions/ https://earlybirdsinvest.com/derivatives-exchange-deribit-exits-russian-market-amid-eu-sanctions/#respond Sat, 08 Feb 2025 06:33:22 +0000 https://earlybirdsinvest.com/derivatives-exchange-deribit-exits-russian-market-amid-eu-sanctions/

Deribit has officially announced its departure from the Russian market due to sanctions imposed by the European Union. The crypto exchange, which operates under Dutch regulations, stated that it can no longer offer services to Russian nationals and residents unless they meet specific conditions.

These exceptions include Russian citizens who also hold citizenship in an EEA member country or Switzerland or those who permanently reside in these regions. For example, Russians living in Ireland or Danish nationals can still access Deribit.

However, those residing in the UAE remain restricted. Furthermore, the exchange clarified that Russian companies are entirely excluded from its services, according to TASS’ latest report.

Russia’s conflict with Ukraine led to its banks being cut off from the SWIFT payment system, preventing them from facilitating international transactions and financing global trade. The sanctions significantly harmed the country’s economy, while foreign banks became increasingly cautious about handling Russian payments to avoid breaching sanction laws.

Its cryptocurrency sector has been significantly influenced by sanctions, with digital assets becoming widely adopted as a way to evade restrictions. Even government officials supported this approach at last year’s BRICS Summit.

Finance Minister Anton Siluanov previously confirmed that Russian companies have begun leveraging Bitcoin and other cryptocurrencies for cross-border transactions.

This followed the enactment of a law signed by President Vladimir Putin, which was introduced last year. However, it continues to ban the use of cryptocurrencies for transactions within Russia.

While Deribit had previously operated in Russia despite US-imposed sanctions, the introduction of fresh EU restrictions led the exchange to alter its policies. The company has dealt with various regulatory challenges over time, which was a key factor in its 2023 decision to relocate to Dubai. Nonetheless, Russians living in Dubai remain barred from registering on the platform.

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