Weekly Bitcoin News: Garlinghouse Accuses SEC Official of Receiving Millions from Vested Interests, EDX Launches as Tradfi Heavyweight Crypto Exchange, and Peter Schiff Comments on USD Decline

In the world of cryptocurrency, there is never a dull moment. This week, there were several noteworthy events that took place in the Bitcoin community. From accusations of corruption to the launch of a new crypto exchange, here are the top stories from the past week.

Garlinghouse Accuses SEC Official of Receiving Millions from Vested Interests

Brad Garlinghouse, the CEO of Ripple, recently accused a senior official at the Securities and Exchange Commission (SEC) of receiving millions of dollars in payments from vested interests. In a tweet, Garlinghouse alleged that William Hinman, the former director of the SEC’s Division of Corporation Finance, received payments from law firms that represent Ripple’s competitors.

Garlinghouse’s accusations come as Ripple is embroiled in a legal battle with the SEC over whether its XRP token is a security or not. The SEC filed a lawsuit against Ripple in December 2020, alleging that the company had conducted an unregistered securities offering worth $1.3 billion.

EDX Launches as Tradfi Heavyweight Crypto Exchange

EDX, a new cryptocurrency exchange, launched this week with the aim of bridging the gap between traditional finance (tradfi) and crypto. The exchange is backed by some heavyweights in the tradfi world, including Nasdaq and Fidelity.

EDX aims to provide institutional investors with a secure and regulated platform for trading cryptocurrencies. The exchange will offer trading in Bitcoin, Ethereum, and Litecoin, with plans to add more cryptocurrencies in the future.

Peter Schiff Comments on USD Decline

Peter Schiff, a well-known Bitcoin critic and gold advocate, commented on the decline of the US dollar this week. In a tweet, Schiff said that the dollar was “losing value faster than Bitcoin is gaining it.”

Schiff has long been a critic of fiat currencies and has advocated for gold as a store of value. He has also been a vocal opponent of Bitcoin, arguing that it has no intrinsic value and is a speculative asset.

While the decline of the US dollar may be concerning to some, it is worth noting that Bitcoin has also experienced significant volatility in recent months. The cryptocurrency reached an all-time high of over $64,000 in April before crashing to around $30,000 in May.

In conclusion, the world of Bitcoin is always changing, and there is never a shortage of news to keep up with. From accusations of corruption to the launch of a new crypto exchange, this week was no exception. As always, it is important to stay informed and keep up with the latest developments in the world of cryptocurrency.

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