Today in crypto, Sora Ventures launched $1 billion Bitcoin treasury fund, backed by $200 million from institutional partners, to accelerate corporate adoption of Bitcoin within six months. An SEC investigation has revealed that their IT dep…
Today in crypto, Sora Ventures launched $1 billion Bitcoin treasury fund, backed by $200 million from institutional partners, to accelerate corporate adoption of Bitcoin within six months. An SEC investigation has revealed that their IT department inadvertently deleted a year’s worth of sensitive text messages from Gary Gensler’s phone. Meanwhile, SEC Chair Paul Atkins unveiled a regulatory agenda that could reshape digital asset rules.
Sora Ventures announces $1B Bitcoin treasury fund
Sora Ventures, a crypto venture capital firm, has launched a $1 billion Bitcoin treasury fund with the goal of acquiring the full amount within the next six months. The initiative was unveiled during Taipei Blockchain Week, where founder Jason Fang introduced the project as a landmark step in integrating Bitcoin into broader financial markets.
Fang described the fund as “Asia’s first $1 billion Bitcoin treasury fund,” highlighting its focus on positioning Bitcoin as a strategic asset for regional institutions. The announcement was made during a panel discussion on bringing BTC strategies into major Asian equity markets, signaling the firm’s intent to connect traditional finance with the digital asset space.
The fund is being supported by an initial $200 million commitment from institutional partners across Asia. According to Fang, the primary aim is to drive corporate treasury adoption of Bitcoin, helping companies diversify reserves and strengthen exposure to digital assets while expanding the cryptocurrency’s role in mainstream finance.
“Avoidable errors” led to a year’s worth of Gary Gensler’s texts getting wiped
A Securities and Exchange Commission investigation into missing text messages from former chair Gary Gensler’s phone between October 2022 and September 2023 has concluded that “avoidable errors” led to their loss.
The SEC Office of Inspector General (OIG) investigated how nearly a year’s worth of text messages from Gary Gensler were permanently lost between October 2022 and September 2023, during the height of the agency’s crypto enforcement action campaign.
In a report released on Wednesday, the OIG revealed that the SEC’s IT department “implemented a poorly understood and automated policy that caused an enterprise wipe of Gensler’s government-issued mobile device,” which deleted stored text messages and operating system logs.
The loss was worsened by poor change management, lack of proper backups, ignored system alerts, and unaddressed vendor software flaws.
The OIG found that some of Gensler’s deleted texts involved SEC enforcement actions against crypto companies and their founders, meaning that key communications about how and when the SEC pursued cases may never be fully known, even to courts, Congress, or the public.
SEC’s agenda proposes crypto safe harbor, broker-dealer reforms
US Securities and Exchange Commission Chair Paul Atkins has released a regulatory agenda containing proposed rules that could significantly affect how the agency handles digital assets.
In a Thursday notice, the SEC released about 20 proposed rules as part of its spring 2025 agenda. Though each proposal varies in terms of the potential impact on the crypto industry, many suggested that the commission would continue to soften its enforcement approach, establishing safe harbors and restructuring existing regulations to benefit projects.
“The agenda covers potential rule proposals related to the offer and sale of crypto assets to help clarify the regulatory framework for crypto assets and provide greater certainty to the market,” said Atkins.
Among the proposed rules in the SEC agenda was including “certain exemptions and safe harbors” related to the offer and sale of crypto assets, and amending the Exchange Act “to account for the trading of crypto assets on [alternative trading systems] and national securities exchanges.”
The modifications could allow crypto companies to operate with less regulatory oversight and reduce the risk of legal action.
Other proposals suggested modifying “broker-dealer financial responsibility rules,” which could lessen the burden on crypto companies reporting data.
Broker-dealer rules have been a point of contention for many in the crypto industry by placing Know Your Customer and Anti-Money Laundering regulations on networks, often without the means to gather such data.
