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Crypto champion Tom Emmer seeks nomination for House speaker

Crypto champion Tom Emmer seeks nomination for House speaker
Snapshot
House Majority Whip Tom Emmer may be the new front-runner for House speaker, but he lacks a crucial endorsement. Credit: Bonnie Cash/UPI/Shutterstock

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House Majority Whip Tom Emmer, a Republican congressman and backer of the crypto industry, is reportedly seeking a nomination to become House speaker, though at least one prominent Republican has yet to get on board. Binance dropped its Visa debit card in Europe, Blockchain firm LBRY closed its doors, and real estate collecting and trading game Upland raised $7 million. Read on!

Crypto advocate Emmer seeks speaker’s post

Crypto backer and Republican Congressman Tom Emmer is seeking a nomination to become House speaker, after failed bids by fellow representatives Steve Scalise and Jim Jordan, with the current majority whip seen by some as the front-runner, Cointelegraph reported.

Still, former president Donald Trump told allies that he is not supporting the Minnesota Republican’s bid, according to Politico. Former House Speaker Kevin McCarthy, among others, has endorsed Emmer, who is viewed as one of the most prominent crypto advocates in Congress.

Binance halts EEA Visa debit card

Binance has discontinued its Visa debit card in Europe, the world’s biggest crypto exchange said in a blog post.

Card holders can continue to use their Binance Visa debit cards issued under the EEA program until December 20. About 1% of Binance’s users are affected by the change, a company spokesperson told Bloomberg.

LBRY closes doors amid debt

Blockchain file-sharing and payment network LBRY shuttered its operations as it was unable to pay debts owed to the US Securities and Exchange Commission and others, Cryptonews reported.

The blockchain firm issued a final message on its video-sharing website Odysee, saying “this will be our last post,” and another on X expressing the same message.

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Upland raises funds, plans Ethereum token

Blockchain real estate collecting and trading game Upland completed a $7 million Series A extension raise led by EOS Network Ventures, following an initial $18 million Series A raise in 2021, Decrypt reported.

The funds will enable Upland to add more features to the game and launch an Ethereum token linked to its in-game Spark token, the report said. Upland said it has more than 3 million registered players.

FBI charges 6 in crypto laundering

The FBI charged six people with operating an unlicenced money-transmitting business using crypto, CoinDesk reported, citing court documents filed in the Southern District of New York.

An unsealed FBI affidavit claimed that the six used the darknet to convert Bitcoin or other cryptocurrencies into cash. An individual involved in the scheme who was arrested in February became a confidential informant for the next eight months, the report said.

What we’re reading around the web

California’s crypto bill reveals the fractured state of digital asset regulationFortune

Bitcoin ETF will get nod in 2023 because SEC’s Gensler ‘needs a win,’ says Galaxy’s NovogratzDL News

Questioning Two Senators on Crypto TerrorismWall Street Journal

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