Ripple CEO Brad Garlinghouse criticized the U.S. Securities and Exchange Commission (SEC) for its enforcement approach. He referred to the release of internal discussions, known as the Hinman docs, which took place before former SEC official William Hinman’s 2018 speech. Garlinghouse alleged that Hinman had received millions of dollars from his law firm, which had a vested interest in his speech. Meanwhile, a cryptocurrency exchange backed by prominent firms like Charles Schwab and Fidelity has launched and completed a funding round. The platform allows trading of four cryptocurrencies. Additionally, Valkyrie Funds, an asset manager based in Tennessee, has filed an application with the SEC for a spot bitcoin exchange-traded fund (ETF). Finally, economist Peter Schiff predicts a significant decline in the U.S. dollar’s value, warning of a potential financial crisis. He noted that Federal Reserve Chairman Jerome Powell is concerned about the evolving crisis but doesn’t want to alarm the markets.
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