Bitcoin Layer2 network Botanix mainnet launched, reducing block time to 5 seconds

PANews reported on June 25 that according to Cointelegraph, Ethena Labs has reached an agreement with the German Federal Financial Supervisory Authority (BaFin) to initiate a 42-day redemption process for

The Department of Government Efficiency (DOGE) is now targeting the SEC’s rules on Special Purpose Acquisition Companies (SPACs) and confidential data reporting by private investment advisers. Per Reuters, the SEC adopted those rules during the Biden administration to enhance investor protection and systemic risk monitoring. DOGE, a Trump administration initiative created to cut federal regulatory burdens, has recently approached SEC staff to explore revisions to these rules. This comes as some businesses view it as excessive. The talks are part of a broader deregulatory push by the Trump administration, intended to reduce compliance costs and spur market activity. Executive Order Spurs Deregulatory Action Earlier in March, Elon Musk’s DOGE task force joined the SEC under a new liaison effort. DOGE staff were to receive internal system access and be treated as SEC personnel. An internal email said standard ethics and IT protocols would apply. 🔍 @elonmusk ’s DOGE team gains access to SEC systems under a new liaison initiative, sparking debates on regulatory independence and public-private collaboration in financial governance. #CryptoRegulation #SEC https://t.co/lRHLqWwkj8 — Cryptonews.com (@cryptonews) March 28, 2025 Today, Reuters reported that a White House spokesperson said the administration is working with the SEC “to more efficiently maintain fair and orderly markets while protecting everyday investors.” However, DOGE’s involvement in SEC policy has unsettled some SEC staff. The agency, while led by a presidentially appointed chair, is widely regarded as an independent regulator. Traditionally, it limits policy coordination with the White House to maintain regulatory impartiality. Amanda Fischer, policy director at financial reform group Better Markets, said DOGE’s role “raises serious concerns” about potential conflicts of interest. “It’s outrageous that outside designees to the agency, who presumably were not selected by the chair, would have a say in rulemaking,” said Fischer, who served as chief of staff to former SEC Chair Gary Gensler. In contrast, the deregulatory effort appears to align with views held by Republican SEC commissioners Mark Uyeda and Hester Peirce. The duo has previously objected to the Biden-era rules on SPACs and private funds. They argue that such regulations stifle innovation and burden firms unnecessarily. Uyeda and Peirce criticized the removal of a legal “safe harbor” that protected SPAC sponsors from liability for forward-looking statements. They also opposed the expanded reporting requirements under Form PF, a rule requiring private fund advisers to submit more detailed data to regulators. SEC Indicates Willingness to Engage with DOGE According to the report, the SEC confirmed its collaboration with DOGE, stating that both parties are working “to find cost efficiencies and ensure public funds are being used as effectively as possible.” While the agency has not indicated specific policy reversals, discussions with exchange operators about loosening SPAC requirements are ongoing. The resurgence of interest in SPACs, including among those connected to Trump’s own media venture, suggests possible momentum behind the rollback. “It’s a departure from past practice,” said Adam Pritchard, law professor at the University of Michigan. “Whether White House influence is a risk or an opportunity depends on your perspective.” President Donald Trump, upon his election victory, appointed Elon Musk and Vivek Ramaswamy to lead the newly formed Department of Government Efficiency (DOGE). ⚡️ It’s official: President-elect @realDonaldTrump taps @elonmusk and @VivekGRamaswamy to lead the Department of Government Efficiency (DOGE), aiming to cut government waste and streamline operations. #DOGE #ElonMusk #DonaldTrump https://t.co/BRzSIq76wi — Cryptonews.com (@cryptonews) November 13, 2024 He tasked the agency with cutting federal waste, slashing regulations, and overhauling government agencies. Trump called the initiative a “modern-day Manhattan Project” and praised Musk’s operational track record. However, in April, Elon Musk announced he was stepping down as a Special Government Employee at DOGE . Musk posted on X that his term had ended and thanked Trump for the opportunity to tackle government waste. While DOGE continues, sources said Musk faced pushback within the White House and voiced frustration with federal inefficiency and Trump’s tax plan.