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US House oversight committee is probing crypto debanking

  • The US House Oversight Committee has announced its investigating cases of debanking of crypto companies.
  • Uniswap, Coinbase, Kraken, a16z and Blockchain Association are among crypto companies and entities to receive a letter asking for information on the alleged debanking.
  • The Senate Banking Committee is also set to hold a hearing on debanking in early February.

The U.S. House Oversight Committee is probing the issue of alleged debanking of crypto companies and individuals.

On Jan. 24, the committee sent a letter addressed to several crypto executives asking them to share information on the debanking claims. Apart from crypto companies, US First Lady Melania Trump also highlighted the issue.

Investigations are part of the new focus on crypto regulation following a largely negative four years under President Joe Biden’s government.

Those to receive the letter are Uniswap Labs CEO Hayden Adams, Coinbase co-founder and CEO Brian Armstrong, a16z co-founder Marc Andreessen and Kraken CEO David Ripley. The letter also sought the input of Lightspark CEO David Marcus and Blockchain Association CEO Kristin Smith.

“The Committee seeks to understand whether this pattern of debanking stems from financial institutions themselves or from government actors,” the letter reads in part.

Senate Banking Committee to hold a hearing

Crypto debanking has also attracted the attention of the House Financial Services Committee and the Senate Banking Committee, both of which are looking to get to the bottom of this heavily criticised developments.

“The Committee is concerned about the chilling implications this overreach may have in silencing industries arbitrarily disfavored by regulators, driving consequential technological and financial innovation overseas, and preventing targeted businesses from making payroll and paying employees their wages,” the Oversight Committee’ letter continues.

The Senate Banking Committee has announced it will hold a hearing on crypto debanking on February 5, 2025. Committee chair Tim Scott said:

“Debanking is un-American – every legal business deserves to be treated the same regardless of their political beliefs. Unfortunately, under Operation Chokepoint 2.0, Biden regulators abused their power and forced financial institutions to cut off services to digital asset firms, political figures, and conservative-aligned businesses and individuals.”

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Bitget becomes second-largest crypto exchange ecosystem by userbase

Bitget, the leading cryptocurrency exchange and Web3 company has released its 2024 transparency report highlighting one of the most successful years the company has experienced since its launch in 2018 emerging as the second-largest exchange ecosystem by user base. Driven by innovation, strategic business decisions and a strong demand for trustworthy platforms have pushed the ecosystem to expand beyond expectations.

The platform experienced a surge in its user base, expanding from 20 million in January to over 100 million in December—an extraordinary growth of 400%. This expansion was matched by significant advancements in trading activity, with daily volumes doubling to $20 billion. Spot trading volumes grew exponentially, rising from $160 billion in Q1 to $600 billion in Q4. These achievements have been driven by a focused strategy involving highly competitive offerings, user-centric innovations, and global expansion.

Between 2021 and 2024, Bitget’s user base saw substantial growth across various regions. South Asia grew by 200%, while Southeast Asia expanded by 140%, European users increased by 67%, and Latin America and the Middle East saw significant surges. The CIS region experienced 150% growth, and Africa had the highest increase of 300%.

Throughout 2024, Bitget introduced a range of initiatives that accelerated its growth amidst CEX ecosystems. The growth is attributed to the growing demand for digital assets worldwide for which Bitget offers a multitude of centralized and decentralized services. The integration of Bitget Wallet’s “Smart Money” tools, customized for advanced on-chain data analysis, and the launch of PoolX, a stake-to-mine platform, enhanced user engagement and diversified investment opportunities. Additionally, the company launched a pre-market trading platform, providing users with seamless access to new tokens and liquidity ahead of listings.

Bitget made a $30 million strategic investment in The Open Network (TON) blockchain with Foresight Ventures, aligning with its support for emerging trends like GameFi and Tap-to-Earn. TON’s rapid growth in transaction volumes and decentralized app adoption also played a significant role in leveraging the market opportunities.

The platform’s native token, BGB, grew by over 1000%, with its value increasing tenfold to reach $8 by year-end. A newly implemented burn mechanism, combined with enhanced token utility and an updated whitepaper, contributed to this growth. By reducing total supply and introducing a quarterly token burn program, Bitget positioned BGB as the core of its ecosystem’s future growth.

In 2024, leadership transitions further defined Bitget’s trajectory. Gracy Chen, previously the Managing Director, assumed the role of CEO, becoming the only female leader among the top 10 global exchanges. Alongside her, Hon Ng was appointed Chief Legal Officer, Vugar Usi Zade as the Chief Operating Officer and Min Lin as Chief Business Officer. This strong leadership team has been strategic in driving strategic initiatives, compliance advancements, and user-focused developments.

With this, Bitget obtained key approvals, including a UK license, a Bitcoin Service Provider (BSP) license in El Salvador, and launched a localized exchange in Vietnam. These advancements operate in alignment with regional standards while expanding its global presence.

Bitget also made strides in corporate social responsibility through initiatives like Blockchain4Her, which promotes gender diversity in blockchain, and Blockchain4Youth, spreading blockchain awareness among young professionals worldwide. These programs reflect the exchange’s broader vision of enabling inclusive growth within the Web3 space.

With its strategic investments, regulatory successes, and user-centric innovations, Bitget enters 2025 bound for continued expansion and influence within the crypto ecosystem. The past year’s achievements shows the platform’s strategic vision in shaping the future of blockchain and crypto.

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Shiba Inu bulls face reality: Why smart money is increasingly betting on this $0.04 crypto for huge gains instead

Shiba Inu bulls are holding onto hope, expecting the next breakout, but smart money is shifting focus to an AI-powered crypto that’s set to redefine the market—WallitIQ (WLTQ). While Shiba Inu has enjoyed its moment in the spotlight, smart investors are betting big on this emerging Ethereum gem that many analysts believe is poised for a staggering surge.

At just $0.0420, WallitIQ (WLTQ) is quickly gaining traction as the next major player in the crypto space, with analysts and investors recognizing its groundbreaking potential. The presale is rapidly closing, and those who recognize the opportunity now could be positioning themselves for life-changing gains before this crypto skyrockets past expectations.

Shiba Inu Bulls Must Face Reality—WallitIQ (WLTQ) Is The Smarter Bet

The excitement around Shiba Inu has been undeniable, with its loyal community of bulls constantly anticipating the next price explosion. However, the truth is that smart money is already looking beyond Shiba Inu bulls’ expectations and shifting focus to more innovative and utility-driven assets like WallitIQ (WLTQ). Unlike the meme-driven speculation surrounding Shiba Inu, this altcoin powerhouse stands out with its AI-driven capabilities, offering real-world applications that investors crave.

WallitIQ (WLTQ) isn’t just another token riding the hype wave—it’s an AI-powered crypto platform designed to revolutionize asset management and financial decision-making. Shiba Inu bulls are to note this. With an advanced suite of features tailored for traders and investors, smart money whales are seizing the opportunity to accumulate this Ethereum-based token before it explodes in value. 

Shiba Inu bulls may still be chasing past glory, but WallitIQ (WLTQ) presents an undeniable opportunity for those ready to embrace the future of AI in crypto.

Why Smart Money Is Betting Big On WallitIQ (WLTQ) Instead

At the core of WallitIQ’s (WLTQ) appeal is its groundbreaking QR code payment system, making crypto transactions effortless and accessible for both retail and institutional users. This feature allows for instant and secure payments, placing the platform leagues ahead of speculative altcoins like Shiba Inu, which lack such practical utility.

Adding to its allure, the platform offers a multilingual AI chatbot, providing 24/7 assistance in multiple languages. Whether you’re a new investor or an experienced trader, WallitIQ (WLTQ) assures users of an intuitive experience, promoting trust and confidence in an ever-evolving market landscape. Smart money investors recognize this accessibility as a game-changer, driving further interest in the presale.

Security is another area where WallitIQ (WLTQ) stands tall. Its anomaly detection system employs advanced AI algorithms to monitor transactions in real time, identifying suspicious activity and protecting user assets. This high level of security, verified by a SolidProof audit, reassures investors that their funds are safeguarded—a major factor in WallitIQ’s (WLTQ) growing appeal over riskier alternatives like Shiba Inu, another point of note for Shiba bulls.

Beyond its robust security and accessibility features, predictive analytics integrated into WallitIQ (WLTQ) offer investors real-time insights into market trends and asset performance. With AI-powered forecasts, investors can make informed decisions with precision, a functionality that has drawn significant attention from smart money looking to step up their portfolios.

Furthermore, WallitIQ (WLTQ) recently unveiled its Minimum Viable Product (MVP) Crypto Wallet Management App, which boosts the user experience by allowing easy management of multiple wallets, real-time pricing integration via CoinGecko, simulated transactions, and interactive candlestick charts. This intuitive app positions this AI gem as a leader in the DeFi space, giving investors a comprehensive tool to navigate the crypto market effortlessly.

With all these innovations, it’s no surprise that WallitIQ (WLTQ) is attracting massive attention at $0.0420, with some of the most bullish crypto insiders even predicting a 100,000% surge post-launch. 

The Clock Is Ticking—Invest In WallitIQ (WLTQ) Before It’s Too Late

Shiba Inu bulls may continue to hope for another rally, but WallitIQ (WLTQ) is where the real opportunity lies. With an anticipated surge from $0.0420 to a staggering 100,000% gain, the smart money and other serious investors are flocking to the presale before prices soar beyond reach.

Now is the time to act—before WallitIQ (WLTQ) takes the crypto world by storm. Smart money has already made its move, Shiba Inu bulls and others who follow suit could find themselves at the forefront of one of the biggest investment opportunities in crypto history. Don’t miss out—secure your WallitIQ (WLTQ) tokens today.

Join the WallitIQ (WLTQ) presale and community: 

Join WallitIQ (WLTQ) Presale

Join the WallitIQ (WLTQ) Community

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Silencio Network Officially Launches, Revolutionizing Noise Data Collection Globally

George town, Cayman Islands, January 24th, 2025, Chainwire

Silencio, the world’s first decentralized noise data engine, has officially launched, setting a new standard in environmental data utilization. Powered by community contributions, Silencio transforms smartphones into secure, anonymous sensors that crowdsource real-time, hyper-local noise data. At its launch, Silencio Network is operational with almost 800k members in over 180 countries, covering 43.86 billion square meters (+560 times the size of New York) and recording 8.1 million hours of data collection.

$SLC Token Lists on Major Exchanges as Silencio Ecosystem Expands

Central to the Silencio ecosystem is the $SLC token, powered by the Blocksound Foundation, which is used for rewarding contributors, transactions, staking, and governance across the network. As of its launch on January 24, 2025, $SLC is available on leading exchanges such as KuCoin, Gate.io, MEXC, Bitmart, and BingX, with more to be added soon. The $SLC token is designed to incentivize the collection of noise data, supporting the network’s expansion with an initial issuance geared towards fostering sustainable growth.

Silencio’s Vision: Transforming Noise Into Actionable Insights for a Quieter World

Silencio’s mission is to harness real-time noise data to enable smarter decisions for individuals, businesses, and governments. With its cutting-edge approach, the network aims to address critical issues such as urban planning, public health, and environmental management, making it especially relevant for sectors aiming for decentralization and enhanced community engagement.

Silencio is set to change the way people value real estate, select restaurants, and decide where to live. By providing actionable noise data, Silencio aims to impact the decision-making of millions of people worldwide, offering a new layer of insight that influences everyday choices and long-term planning. This approach ensures that noise levels, often overlooked, are now a central consideration in creating quieter, more enjoyable living and working environments.

Leading the Web3 Revolution with Real-World, Decentralized Solutions

Beyond its token utility, Silencio is also pioneering in governance and community engagement through its transparent, blockchain-based ecosystem. The network allows contributors to earn $SLC tokens in reward for their data contributions, ensuring that every user is a stakeholder in the network’s success. Plans are underway to expand into the global personal data market, estimated to be worth more than $300 billion according to a McKinsey report. Silencio aims to commercialize any smartphone-collected data in a transparent and anonymized manner, providing full control and rewards to users.

Looking ahead, Silencio plans to further expand its platform to include more diverse data applications, potentially integrating additional environmental variables and enhancing its impact on global data-driven decision-making. With a robust user base and a clear vision, Silencio is poised to lead the Web3 revolution, bringing blockchain solutions to the real-world challenges of noise pollution and beyond.

Joining the Silencio Revolution

Silencio paves the way for a quieter, more informed world, it invites individuals and industries to join its network, contribute data, and benefit from the insights generated. With its official launch, Silencio reaffirms its commitment to a sustainable and participatory approach to environmental data, welcoming all to be part of this revolutionary journey.

About Silencio Network

Silencio Network is revolutionizing the global approach to capturing, processing, and utilizing noise intelligence data. By transforming everyday smartphones into real-time noise sensors, Silencio provides hyper-local insights that drive impactful decisions across industries such as urban planning, real estate, and hospitality. Envisioning a future where noise-level data influences real estate pricing and guides daily choices in selecting hotels and restaurants, Silencio is paving the way for smarter, more informed decisions. With operations spanning over 180 countries and a network of almost 800k sensors, the platform generates more than 100,000 daily on-chain transactions, solidifying its position as the world’s largest noise intelligence platform.

 

Contact

Alex M.
Blocksound Foundation
marketing@blocksoundfoundation.org

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