U.S. Financial News

The emergence of high-level artificial intelligence (AI) technology has caused the United States and China to safeguard their resources in a race to develop the most powerful systems.

U.S. states targeting the LGBTQ2 community, Canada has updated its travel advisory for the country specifically advising people to check state and local laws before visiting.While overall travel advice around risk levels or health concerns has not changed for the U.S.

Tether, said on Monday its assets rose 5.7% to $86.5 billion in the second quarter of 2023, while it made more than $1 billion «operational profit», a 30% increase on the previous quarter. Stablecoins are a type of cryptocurrency which aim to keep a constant value and are usually backed by traditional assets such as dollars. Tether says there is $83.8 billion of its coin in circulation, which makes it the third largest cryptocurrency overall, according to market tracker CoinGecko. Tether's reserves report, signed off by accountants BDO Italia, says Tether's assets rose to $86.5 billion in the three months to June 30, 2023, up 5.7% from the previous quarter and a record high, according to previous reports on its website. Tether is a key cog in global digital asset trading, with many crypto-to-crypto trades denominated in the stablecoin.

On July 25, the United States Senate backed bipartisan legislation mandating U.S. companies to report any investments in Chinese technologies. 

United States Sen. Jack Reed sponsored a bipartisan bill introduced into the Senate on July 18 that would tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations and sanctions requirements for decentralized finance (DeFi). According to a news release on Reed’s website, the bill is titled the Crypto-Asset National Security Enhancement and Enforcement (CANSEE) Act.

The world's largest cryptocurrency has recently found support due to plans by fund managers, including BlackRock — the world's largest asset manager — to launch a U.S.-listed spot bitcoin exchange-traded fund(ETF). Nasdaq refiled its application to list BlackRocks's ETF according to a filing made public on Monday after the U.S.

The nation’s 23 largest banks passed the Federal Reserve‘s so-called stress tests this year, a sign that the nation’s banking system remains resilient despite the recent banking crisis that led to the failure of Silicon Valley Bank, Signature Bank and First Republic Bank.

United States President Joe Biden will discuss artificial intelligence (AI) with a group of Silicon Valley experts on June 20 between campaign fundraising stops in California. 

Robinhood Markets said on Friday it is removing three cryptocurrency tokens from its platform, days after the U.S. securities regulator's crackdown against the industry's biggest exchanges.

With the rapid evolution and increasing adoption of cryptocurrencies, the need for regulatory clarity has become paramount. U.S. Senator Cynthia Lummis has said that her efforts to push for a positive regulatory framework are still in motion. 

Binance.US said on Thursday the company is suspending USD deposits while notifying customers that their banking partners are preparing to pause fiat (USD) withdrawal channels as early as June 13. The move comes as the U.S.

The United States Securities and Exchange Commission (SEC) has filed another document in its lawsuit against Binance.US, saying investors’ funds are at risk. 

“Adversary nations” like China could ultimately benefit from restrictive crypto policies in the United States, warns Coinbase CEO Brian Armstrong. 

Officials in the United States are making efforts to keep tabs on the development of artificial intelligence (AI), as new plans surface to examine workers’ experience with AI surveillance. 

Crypto exchange Binance has acknowledged that a crackdown on cryptocurrencies has made it challenging to conduct business in the United States, and it is now looking to be regulated in the United Kingdom.

U.S. Justice Department is investigating whether Binance Holdings was illegally used to let Russians skirt U.S.

Ripple has spent $200 million defending the case brought against it by the United States Securities Exchange Commission (SEC), according to CEO Brad Garlinghouse. 

Court documents were filed indicating that Do Kwon, co-founder and CEO of Terraform Labs, has asked for the dismissal of charges leveled against him by the Securities and Exchange Commission (SEC). 

Nearly two weeks after the collapse of three United States banks - Silicon Valley Bank (SVB), Silvergate and Signature- Treasury Secretary Janet Yellen said the federal government is ready to take action if needed. 

The CEO of American investment company BlackRock, Larry Fink, highlighted the potential of digital assets and tokenization for the asset management industry in his annual chairman’s letter to the company. 

Over the last year, a series of court cases have struck the crypto industry. Bankruptcy, liquidity issues and fraud have caused the industry to fall under the microscope of regulators around the world.