Crypto News (02.11.25): U.S. Congress Working Group, CapitalRock, Trump Memecoin Winners
U.S. Congress Establishes Cryptocurrency Working Group
Lawmakers from both chambers of the U.S. Congress are forming a working group dedicated to developing policies that promote the growth of digital assets. Led by Representative French Hill, this bipartisan initiative aims to provide regulatory clarity for the burgeoning digital asset sector. In January, President Donald Trump ordered the creation of this working group, which includes agency heads tasked with proposing new regulations for digital assets and exploring the establishment of a national cryptocurrency stockpile.
President Trump, who has positioned himself as a "crypto president," seeks to encourage widespread adoption of digital assets and has even introduced his own crypto token. This marks a significant shift from the previous administration's focus on protecting consumers from fraud and money laundering, which led to legal actions against several crypto exchanges.
CapitalRock ventures into Cryptocurrency with New Solutions and Investment Plans
CapitalRock, a globally recognized leader in crypto asset management, has announced its expansion into the cryptocurrency realm with the introduction of the CapitalRock coin. The company is also preparing to launch its trading application, aiming to provide innovative solutions and investment opportunities in the digital asset space. This move underscores CapitalRock's commitment to leveraging emerging technologies to offer enhanced value to its clients.
MicroStrategy Rebrands to Emphasize Bitcoin Commitment
MicroStrategy, recognized as the largest corporate holder of bitcoin, has announced a rebranding initiative, adopting the name "Strategy" and unveiling a new logo. This move underscores the company's deepening focus on the cryptocurrency sector.
Founded by Michael Saylor, MicroStrategy has significantly benefited from bitcoin's rising popularity, with its shares experiencing substantial growth and securing a position in the Nasdaq 100 index. The company has declared itself the world's "first and largest Bitcoin Treasury Company" and continues to make notable investments in bitcoin. The new logo features a stylized "B," symbolizing its bitcoin-centric strategy.
Coinbase to Face Customer Lawsuit in New York
A U.S. District Judge has ruled that Coinbase must confront a lawsuit alleging that the company sold securities without proper registration as a broker-dealer. The court determined that Coinbase qualifies as a "statutory seller" under federal securities laws, as transactions are conducted directly between customers and the platform.
Additionally, claims under the laws of California, Florida, and New Jersey will proceed. This development comes amid ongoing legal challenges for Coinbase, including a lawsuit from the U.S. Securities and Exchange Commission accusing the exchange of facilitating the trading of unregistered securities.
BBC Broadcaster's Social Media Compromised in Crypto Scam
Nick Robinson, a prominent BBC broadcaster, revealed that his X (formerly Twitter) account was hacked. The unauthorized access led to posts falsely announcing the launch of a new cryptocurrency named "$TODAY," allegedly linked to the Radio 4 Today programme. The fraudulent messages also praised former U.S. President Donald Trump's business acumen and claimed the cryptocurrency would be launched on the Solana platform.
Robinson was alerted to the breach late Monday night and has since been locked out of his account. He cautioned listeners to be wary of online content and not to trust every post they encounter. This incident follows similar hacks targeting other BBC presenters, including Laura Kuenssberg.
Russian Crypto Exchange Platform BestChange Faces Unexplained Block
BestChange, a cryptocurrency exchange platform, announced that its website has been blocked by Russia's communications watchdog, Roskomnadzor. The platform is currently in discussions with the central bank to identify the cause and seek the removal of the ban. Roskomnadzor's website indicates that the restriction is due to unspecified financial legal violations.
The exchange platform speculates that recent cryptocurrency regulations or misuse by third parties utilizing its services might be contributing factors. In Russia, while the circulation and advertisement of digital currencies are prohibited, the use of cryptocurrency for international payments and mining has been legalized, with taxes on mining generating substantial revenue annually.