Unraveling the Mysterious World of Cryptocurrency
Bitcoin: A Popular Form of Cryptocurrency
Bitcoin, the flagship cryptocurrency, has once again captured the attention of investors worldwide. Last week, it soared past the $100,000 mark, a feat that seemed unimaginable when the pandemic crypto craze took a nosedive in 2022. Despite widespread doubts and public pronouncements of its frivolity, crypto has managed to thrive. It's a digital asset that uses blockchain technology to ensure the security and transparency of transactions. Some enthusiasts believe that money should be in the hands of the people, not controlled by banks. The underlying technology of cryptocurrency uses cryptography to safeguard data in a tamper-proof manner. While it can be used in the real world, the wild price swings often make people hesitant to spend it on daily items. Many simply hold onto their crypto, hoping for its value to increase.There are various reasons for Bitcoin's resurgence. The market has experienced several ups and downs over the years, but there are always those willing to invest, even in tough times. It offers a high-risk, high-reward investment opportunity for some.The Crypto Era: Is It Over or Just Taking a Break?
Esmy Jimenez, from The Globe's “Money, Power, Inequality” team and Andy's personal finance buddy, questions why they are even discussing crypto again. After all, in 2022, crypto prices plummeted, and the collapse of FTX seemed to confirm many people's suspicions. But this year, it has skyrocketed once more. Andy explains that the crypto market is complex and cyclical. There are those who are truly passionate about it and believe in its potential. While there are scams and risks involved, the fact remains that there is a significant amount of money tied up in crypto. As of now, it's worth around $3.68 trillion, which is comparable to the value of Apple. Andy himself invested some of his spending money in Bitcoin in 2022, and it has paid off. But he emphasizes that luck and skill are difficult to distinguish.Not all crypto assets are the same. There are meme coins and other forms that can be extremely volatile and risky. It's important to be cautious and not get carried away by the hype.The Pros and Cons of Cryptocurrency
On one hand, crypto offers a new way of thinking about money and financial transactions. It has the potential to disrupt traditional banking systems and give more power to the users. On the other hand, it is associated with scams and fraud. The anonymity provided by the technology makes it easier for bad actors to steal from unsuspecting investors. However, it's not just crypto that has these risks. Gambling on individual stocks or starting a business that fails can also lead to financial losses. Andy's personal rule is to not wager more than one can afford to lose. He and Esmy have most of their investments in target date retirement funds, which are a more stable option.The overturning of Roe v. Wade has had an impact on nonprofit abortion funds, with an increase in outside donations. This shows how different aspects of society are interconnected.In conclusion, cryptocurrency is a complex and controversial topic. While it has its merits and potential, it also comes with risks. It's important for investors to do their research and make informed decisions. As we continue to navigate this digital age, understanding cryptocurrency will become increasingly important.Coinbase's Battle for Crypto Banking Access
Internal FDIC Communications and the Crypto Sector
The crypto sector has long contended that it has been barred from accessing U.S. banking services. Coinbase Chief Legal Officer Paul Grewal argues that the FDIC documents clearly show that crypto businesses were shut out by the regulator. In one of the 23 letters shared by Coinbase, the regulator wrote, "We respectfully ask that you pause all crypto asset-related activity. The FDIC will notify all FDIC-supervised banks at a later date when a determination has been made on the supervisory expectations for engaging in crypto asset-related activity." This indicates a clear stance by the regulator and raises questions about the future of cryptocurrency banking in the United States.For years, the crypto industry has been advocating for equal access to banking services. The fact that the FDIC appears to be taking a restrictive approach has led to concerns among crypto businesses and enthusiasts. It is crucial to understand the implications of these actions on the growth and development of the cryptocurrency market.
Coinbase's Chief Legal Officer's Perspective
Paul Grewal, Coinbase's Chief Legal Officer, expressed his views on the matter. He told CoinDesk that the letters show that this was not a conspiracy theory or rank speculation. There was a concerted plan by the FDIC to deny banking services to a legal American industry. This statement carries significant weight and highlights the seriousness of the situation.Grewal's words should give everyone pause and make them consider the impact of regulatory actions on the crypto sector. It is essential to have a balanced approach that takes into account the potential benefits and risks of cryptocurrency while also ensuring regulatory compliance.
The Impact of the News on Crypto Regulation
The news comes at a crucial time as the face of crypto regulation in the U.S. is set to transform with the advent of President-elect Donald Trump's new administration. Trump has said that he plans to nominate a pro-crypto former SEC commissioner, Paul Atkins, to head the commission. This has left observers hopeful about the industry's future.If the SEC under his leadership adopts a more cooperative crypto tone, it could open up new opportunities for Web3 innovation. Several high-profile lawsuits, such as those involving Coinbase and Ripple, are reshaping how crypto companies operate in the U.S. The shift in regulation will have a profound impact on the industry and its players.
PYMNTS has contacted the FDIC for comment but has not yet received a reply. The outcome of this situation remains uncertain, and it will be interesting to see how the regulatory landscape evolves in the coming months.Unveiling the 2025 Golden Globes Nominations
Film Side Nominations
Emilia Pérez stands out with an impressive 10 nominations, leading the pack. The Brutalist follows closely with seven nods, while Conclave secures six. Notable films like Dune: Part Two, Nickel Boys, and September 5 also make their mark in the drama category. On the comedy and musical front, Anora, Challengers, and Wicked shine brightly.
Original scores by Conclave, The Brutalist, Dune: Part Two, Emilia Pérez, and The Wild Robot add another layer of musical magic to the nominations. Each score contributes to the overall cinematic experience.
Television Side Nominations
The Bear takes the lead on the TV side with five nominations, followed by Only Murders in the Building and Shgun with four each. In the drama category for male actors, Donald Glover in Mr. and Mrs. Smith, Jake Gyllenhaal in Presumed Innocent, Gary Oldman in Slow Horses, Eddie Redmayne in The Day of the Jackal, Hiroyuki Sanada in Shgun, and Billy Bob Thornton in Landman are among the contenders.
For female actors in supporting roles on TV, Liza Colon-Zayas in The Bear, Hannah Einbinder in Hacks, Dakota Fanning in Ripley, Jessica Gunning in Baby Reindeer, Alison Janney in The Diplomat, and Kali Reis in True Detective: Night Country bring their A-game.
Other Categories
In the television limited series, anthology series, or motion picture made for television category, "Baby Reindeer," "Disclaimer," "Monsters: The Lyle and Erik Menendez Story," "The Penguin," "Ripley," and "True Detective: Night Country vie for attention. Male actors in supporting roles on TV like Tadanobu Asano in Shgun, Javier Bardem in Monsters, Harrison Ford in Shrinking, Jack Lowden in Slow Horses, Diego Luna in La Máquina, and Ebon Moss-Bachrach in The Bear also make their mark.
Non-English language films like "All We Imagine as Light," "Emilia Pérez," "The Girl with the Needle," "I’m Still Here," "The Seed of the Sacred Fig," and "Vermiglio" add a global flavor to the nominations. Female actors in musical or comedy TV series such as Kristen Bell in Nobody Wants This, Quinta Brunson in Abbott Elementary, Ayo Edebiri in The Bear, Selena Gomez in Only Murders in the Building, Kathryn Hahn in Agatha All Along, and Jean Smart in Hacks showcase their versatility.
Directors like Jacques Audiard for Emilia Pérez, Sean Baker for Anora, Edward Berger for Conclave, Brady Corbet for The Brutalist, Coralie Fargeat for The Substance, and Payal Kapadia for All We Imagine as Light bring their unique visions to the forefront.
The 2025 Golden Globes will take place on Sunday, Jan. 5, at 8 p.m. ET/5 p.m. PT, airing live on CBS and streaming live on Paramount+. It's an event that promises to be a celebration of excellence in the entertainment industry.