Author: CryptoHoppers

Key Takeaways The SEC has replaced SAB 121, offering a principles-based approach for crypto custody accounting. Under SAB 122, banks are allowed to use established accounting principles to assess and record potential risks associated with holding customer crypto. Share this article The US SEC has issued Staff Accounting Bulletin No. 122 (SAB 122), rescinding specific accounting guidance for custodial crypto assets previously addressed in SAB 121. This change provides more accounting flexibility, easing the accounting burden for firms, including regulated banks, considering offering crypto custody services.SEC commissioner Hester Peirce announced SAB 122 on X, stating, “Bye, bye SAB 121! It’s…

Key takeaways: Our SEI price prediction anticipates a high of $0.78 by the end of 2025. In 2027, it will range between $1.35 and $1.57, with an average price of $1.39. In 2030, it will range between $4.20 and $4.90, with an average price of $4.34. The parallel stack, a robust, open-source framework designed for crafting rollups and layer 2s that harness parallel processing, is now on SEI V2. The stack enhances Ethereum’s performance by targeting most bottlenecks that Layer 2 blockchains face. Such developments are anticipated to drive SEI value over the long term. Regarding price performance, SEI shows…

Key Takeaways The SEC is facing its first deadline to decide on Grayscale’s proposal to convert Solana Trust to an ETF. Multiple firms, including VanEck and Bitwise, await SEC decisions on their Solana ETF proposals. Share this article The US SEC faces its first deadline today to make a decision on Grayscale’s application to convert its Solana Trust (GSOL) to an ETF. Proposed Solana ETFs from VanEck, 21Shares, Canary Capital, and Bitwise expect the regulator’s decision on Jan. 25.Source: BloombergNYSE Arca proposed listing shares of GSOL as a spot Solana ETP on December 4. The trust, which launched in April…

Blockchain is a strange beast.  Few technologies have endured so many fad-style phases, such as the NFT artwork craze and memecoin cycles, yet have such a powerful foundation that they continue to develop and evolve new value across industries.  While for some of the mainstream the term “blockchain” is associated only with crypto coins or pixelated trading cards, the fact is that blockchain has a framework that allows it to accomplish what no other technology can.  True decentralization is only possible with blockchain.  A DAO that is made up of a community scattered across the globe can effectively lead a…

Key Takeaways Donald Trump pardoned Ross Ulbricht, fulfilling a promise made during his re-election campaign. The pardon has garnered support from libertarians and crypto advocates who viewed Ulbricht’s life sentence as excessive. Share this article President Donald Trump has granted a full and unconditional pardon to Ross Ulbricht, the founder of the infamous Silk Road marketplace. This decision fulfills a key campaign promise made by Trump during his bid for re-election, though it arrived later than anticipated.Trump announced the pardon on Truth Social, stating he informed Ross Ulbricht’s mother of the decision, honoring her and the Libertarian Movement. He criticized…

An analyst known for making timely crypto calls is sounding the alarm about the possibility that the asset class may be hovering close to a bull market peak. Pseudonymous analyst Bluntz tells his 309,000 followers on the social media platform X that while there are some coins still flashing bullish signals, the market as a whole may be on the verge of printing a cycle top. “There are crypto top signs everywhere right now. Definitely some nice charts around still but regardless of that, I think we’re at the stage in the cycle where it would be prudent to take…

Vitalik Buterin recently addressed the frequently debated question of “Solana vs. Ethereum,” asserting that Solana’s Proof of Stake (PoS) system is significantly more centralized compared to Ethereum. In a recent interview, Ethereum Co-founder Vitalik Buterin explained that running a Solana node is notably more complex than operating an Ethereum node, and Solana’s PoS model is more centralized. Additionally, many community initiatives on Solana are directly supported by the Solana Foundation. Vitalik stated, “They [Solana] focus heavily on applications and like to talk about DePIN, which they are developing in collaboration with large companies to sell hardware and work with telecom…

Key Takeaways Elon Musk anticipates a presidential pardon for Ross Ulbricht by Donald Trump. Trump has appointed pro-crypto officials to lead key financial regulation agencies. Share this article Elon Musk said Ross Ulbricht, the founder of the Silk Road marketplace, will receive a presidential pardon from Donald Trump. The Tesla CEO stated “Ross will be freed too” in response to a user’s comment on X urging Trump to pardon Ulbricht. Ross will be freed too — Elon Musk (@elonmusk) January 21, 2025According to Angela McArdle, chair of the Libertarian National Committee (LNC), Ulbricht is expected to be pardoned tonight or…

According to a reliable report, Coinbase, the leading U.S.-based crypto exchange, is gearing up efforts to position Bitcoin as a strategic reserve asset for the United States, as CEO Brian Armstrong announced in a company blog post on Friday.  The proposal, which aligns with growing global interest in sovereign Bitcoin reserves, could mark a turning point in Washington’s approach to digital assets.  JUST IN: 🇺🇸 Coinbase endorses creation of a US Government Strategic Bitcoin Reserve. — Watcher.Guru (@WatcherGuru) January 17, 2025 Armstrong’s call for a Bitcoin reserve comes when numerous states are introducing legislation to establish a Bitcoin strategic reserve…

Bank of America states the U.S. economy is headed for instability as Donald Trump enters office, despite the strong employment and retail sales data being disseminated. This has brought renewed focus on the future of the crypto market. Will it thrive? According to reports by Jinshi, Bank of America said on Jan. 20. that employment data, retail sales, and core inflation are holding strong, with core inflation at 3.2%. However, this number for inflation is above the mark, which means the Fed has no room to cut rates any further. In December 2024, the Fed cut rates by 25 basis…