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BitFury
Brian Brooks: U.S. Government Using Crisis to Choke Off Crypto Access to Banks
The former acting head of the OCC said federal regulators are working together to keep crypto assets out of the U.S. banking system.
What Silicon Valley Bank, Silvergate Concerns Mean for Crypto Industry
Signature Bank, which has a number of crypto clients, was shut down Sunday by state regulators. This marks the third bank collapse in under a week, following Silvergate Bank's voluntary liquidation and Silicon Valley Bank's shutdown on Wednesday and Friday, respectively. Brian Brooks, Bitfury Board Member and former CEO, Valor Capital Group Partner and former Acting Comptroller of the Currency, reacts to the latest developments. Plus, Brooks explains why the collapse of SVB is "totally different" compared to Silvergate and Signature Bank.
Brian Brooks on Future of U.S. Crypto Regulation
As Nic Carter explained in his blog post, the widespread reports that U.S. banks are being instructed not to service crypto providers comes with no official communication from any regulator. He compared it to “Operation Choke Point,” a stealth campaign during the Obama administration to restrict fund flows to fringe but entirely legal services. Brian Brooks, Bitfury Board Member and former CEO, Valor Capital Group Partner and former Acting Comptroller of the Currency, discusses how the regulation-by-enforcement approach is playing out in banking supervision.
Brian Brooks Reacts to Silicon Valley Bank, Silvergate Implosions
The collapse of Silvergate, Signature, and Silicon Valley Bank has prompted crypto advocates to question whether regulators in the country are using a banking crisis to unfairly target the crypto industry, inspiring the hashtag #OperationChokePoint2. Brian Brooks, Bitfury Board Member and former CEO, Valor Capital Group Partner and former Acting Comptroller of the Currency, reacts to the fall of three crypto-friendly U.S. banks and the implications for the state of crypto.
Cipher Mining Scraps Plan to Buy Bitfury Rigs, Sticks With Bitmain, MicroBT
The miner wants to stay nimble to grab opportunities in a fast market, the CEO said.
Bitfury Launches 28MW Canadian Mining Facility
Located in Sarnia, Ontario, the project can be expanded to as much as 200 megawatts.
Warren Targets 6 More Crypto Miners for Their Energy Use
The crypto miners welcomed the dialogue on the environmental issues of mining with the Massachusetts senator.
Brian Brooks on Crypto Regulation: 'Why Do We Feel the Need for More Constraint vs. More Innovation?'
Brian Brooks, former Acting Comptroller of the Currency and current CEO of bitcoin mining firm Bitfury, discusses his views on the potential problems with an increased focus on U.S. stablecoin and crypto regulation from lawmakers. "Why can't we let the existing regulatory regime work?" Brooks said. "Why do we always feel the need for more constraint versus more innovation?" Plus, his take on Trump-era crypto policy and the energy impact of blockchains.
Key Takeaways From Crypto CEOs' Capitol Hill Hearing
The House Financial Services Committee convened Wednesday morning with executives from six major cryptocurrency companies to discuss digital assets and stablecoins. CoinDesk's Galen Moore shares insights into the main takeaways and reactions to Bitfury CEO Brian Brooks making a case for decentralization.
Crypto CEOS Testifying at Landmark Hearing
Amidst regulatory uncertainty, FTX’s Sam Bankman-Fried, Bitfury’s Brian Brooks, and Circle’s Jeremy Allaire are among the six executives speaking at today’s House Financial Services Committee hearing. CoinDesk’s Nikhilesh De discusses the potential outcomes. Plus, the Senate Banking Committee will reconvene next Tuesday to discuss stablecoins.
