Joanna Wright

Regulation correspondent for @DLNewsInfo | The Guidance newsletter. Telegram: @joannallama. DM for Signal.

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Articles

Crypto’s lobbying machine isn’t done yet. Here’s why it’s raised another $78m

Nov 22, 2024 | dlnews.com | Ben Weiss |Joanna Wright

The crypto industry spent $133 million on the 2024 elections. It’s already raised $78 million for the midterms. “This isn't a fleeting thing,” said one crypto lobbyist. Crypto built a campaign finance juggernaut. And it’s just getting started. “This election showed that crypto as an industry, but also the community, has a tremendous amount of influence,” Kristin Smith, CEO of crypto lobby group Blockchain Association, told DL News.
How Trump’s win will drive Wall Street’s crypto land grab

Nov 20, 2024 | dlnews.com | Joanna Wright

Crypto exchange and market structure bosses shared what's next for crypto in the Trump Administration. IPOs will get a boost, and regulation will slow. Still, there are hurdles to overcome before Wall Street dives in. Cue the optimism. Following Donald Trump’s election victory on November 5, Bitcoin has swung to numerous all-time highs, memecoins are pumping, and even scorned NFTs are surging again.
How Trump’s win will supercharge Robinhood’s market cap 45% to over $45bn

Nov 20, 2024 | dlnews.com | Joanna Wright

A Trump administration will loosen crypto regulation. Robinhood will be the biggest winner from this new environment, analysts say. A Donald Trump presidency will send Robinhood’s revenue soaring as friendlier regulation allows the trading platform to expand its crypto offerings, Bernstein analysts said in a research note on Wednesday. Under a Securities and Exchange Commission led by arch crypto-sceptic Gary Gensler, the trading platform has been cautious about what crypto products it offered.
Why a16z’s uproar over the Lido DAO ruling is ‘overblown’

Nov 19, 2024 | dlnews.com | Joanna Wright

A Lido token investor has sued the DAO and its backers. He says Lido should have registered with the SEC. A judge says the lawsuit can proceed. Corners of the DeFi community had an “overblown” reaction after a judge allowed a lawsuit against Lido DAO and three of its investors to go ahead.
What’s next for Polymarket — and prediction markets — after the FBI raid?

Nov 18, 2024 | dlnews.com | Joanna Wright

The US government is apparently investigating Polymarket. CEO Shayne Coplan has framed a raid on his home as political retribution. Regulators are worried about prediction markets, however. A version of this story appeared in our The Guidance newsletter on November 18. Sign up here. The raid on the New York home of Polymarket CEO Shayne Coplan is just the beginning.
Why industry warns MiCA delays put $1tn EU crypto market at risk

Nov 15, 2024 | dlnews.com | Joanna Wright

The EU’s rules for crypto exchanges go live on December 30. Delays by the regulator give states and firms just weeks to get licensed. The industry warns that this will jeopardise crypto trading across Europe. Crypto businesses will be forced to suspend services in the almost unless they get more time to comply with the EU’s new Markets in Crypto-Assets regulation.
Why crypto still holds out hope that US stablecoin laws will move before year-end

Nov 14, 2024 | dlnews.com | Joanna Wright

A law on stablecoins could pass during Congress’s “lame duck” period. However, the market structure bill is less likely to go. There’s still a sliver of hope that Congress could advance US stablecoin laws before year-end. Washington insiders tell DL News that Congress may tackle stablecoin laws during its current “lame duck” session, the period between an election and the start of a new Congress.
Binance is just the start. Why bankrupt FTX is suing The Mooch, CZ, and more

Nov 11, 2024 | dlnews.com | Joanna Wright

FTX filed a series of 11th-hour lawsuitsThe suits are an attempt to claw back funds to pay creditors of the collapsed exchange. Bankrupt crypto exchange FTX and its sister hedge fund Alameda Research have sued their former arch rival, exchange giant Binance, for $1.8 billion. The lawsuit, filed on Sunday, is the biggest of at least 28 lawsuits launched by the FTX estate in Delaware over the past week in an attempt to claw back money to pay off customers.
Donald Trump’s likely triumph augurs big changes for crypto - the bros couldn’t be happier

Nov 5, 2024 | dlnews.com | Ben Weiss |Joanna Wright

Election 2024Trump embraced crypto during the campaign and vowed to make the US a 'Bitcoin superpower.'Bitcoin surged to an all-time high as results came in. Gary Gensler's crackdown will come to quick end in the new administration. Crypto will never be the same. Donald Trump, the former president who embraced Bitcoin and its ilk this spring and even launched his own fledgling DeFi protocol, has made big promises to the industry.
Crypto champion Bernie Moreno wins Senate seat in Ohio with $40m in industry cash

Nov 5, 2024 | dlnews.com | Joanna Wright |Ben Weiss

Election 2024The Associated Press called the race late Tuesday night. Brown's loss all but guarantees Republican control over the Senate. Moreno is a crypto entrepreneur. Bernie Moreno, a Republican crypto champion backed by $40 million in industry campaign cash, defeated Sherrod Brown, a Democratic incumbent and industry sceptic, in the Ohio Senate race Tuesday, according to the Associated Press. That’s a big deal for crypto.