XBO.com
  • Crypto Exchange
  • Buy Crypto
  • Spot Trading
  • Loyalty
  • Security
  • News
  • About us XBO.com - Image
  • Support hub XBO.com - Image
  • Blog XBO.com - Image
  • Media XBO.com - Image
  • Legal XBO.com - Image
English Active language
Available languages
  • Spanish Choose language
  • Portuguese Choose language
XBO.com - Login Login Registration

Search

For example: Bitcoin, Calendar, EURUSD
Didn't find what you were looking for? Contact our Customer Support
Markets Business Tech Policy General
Business
Jan. 27, 2023

WazirX Says Binance Lied About Ownership as Dispute About India’s Largest Exchange Escalates

Emails obtained by CoinDesk shed new light on the ongoing debate over the opaque and disputed ownership of WazirX, India’s largest crypto exchange. In November 2019, the ownership of WazirX was uncontested: Binance, the world’s largest crypto ex...
Business
Jan. 27, 2023

UK Man Sentenced to 4-1/2 Years in Jail for Stealing $2.5M in Crypto

A U.K. man was sentenced to four years and six months in jail after pleading guilty to stealing more than 2 million pounds (US$2.5 million) in cryptocurrency, the U.K.’s South East Regional Organised Crime Unit (SEROCU) said Friday . Wybbo Wier...
Business
Jan. 27, 2023

Bitcoin Miner Gryphon to Go Public Via All-Stock Merger With Cannabis Firm Akerna

Private bitcoin miner Gryphon Digital plans to go public with a merger with publicly traded cannabis company Akerna (KERN) in an all-stock deal. The new company will assume Gryphon's name and be headquartered in Las Vegas Nevada, after the deal ...
Business
Jan. 27, 2023

Scaramucci’s SkyBridge Capital Lost 39% Last Year: Bloomberg

Anthony Scaramucci’s investment management firm SkyBridge Capital dropped 39% last year thanks to wrong-way crypto bets, including an equity partnership with now-bankrupt crypto exchange FTX . The decline sparked a sizable move by investors for...
Business
Jan. 27, 2023

Crypto Bank Silvergate Suspends Dividend on Preferred Stock

Crypto-focused bank Silvergate Capital (SI) suspended dividend payments on its preferred stock as it seeks to preserve capital. The suspension affects its 5.375% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, Silvergate said Fri...
Business
Jan. 27, 2023

Bitcoin Miner Argo Blockchain Faces Class Action Suit Over U.S. Share Sale

Argo Blockchain, a crypto miner whose shares trade on the London Stock Exchange (ARB) and Nasdaq (ARBK), is facing a class action lawsuit over alleged misleading statements made during the initial public offering (IPO) of its American depositary ...
Business
Jan. 27, 2023

Jihan Wu's Matrixport Cuts 10% of Staff

Billionaire entrepreneur Jihan Wu's Singapore-based crypto services provider Matrixport said Friday that it is downsizing its workforce by 10%, joining a slew of other industry giants reducing headcount to sail through the harsh crypto winter. ...
Business
Jan. 27, 2023

DeFi Lender Aave Deploys V3 on Ethereum Network

Decentralized lending and borrowing protocol Aave has deployed its third version on the Ethereum network following unanimous support for a governance proposal . The Aave V3 upgrade will focus on mitigating user risk and improving capital effi...
Business
Jan. 27, 2023

Crypto Exchange Bithumb Raided in South Korean Price Manipulation Probe: Report

The offices of Bithumb were raided on Thursday as part of an investigation into price manipulation of a coin listed on the South Korean crypto exchange, Yonhap reported . The coin involved wasn't identified. Prosecutors are investigating transa...
Business
Jan. 26, 2023

Crypto Custodian Aegis to Add Coverage of Lido's Staked Token Derivatives

Crypto custodian Aegis will offer custody for liquid staking derivatives issued by DeFi protocol Lido. Aegis, which says it holds trust license in Hong Kong and and the U.S., offers custodial services for on-chain transactions, while Lido, the l...
Business
Jan. 26, 2023

Mango Markets to Resume Crypto Trading, SEC Be Damned

Developers behind the shuttered decentralized crypto exchange Mango Markets say they’re pushing forward with a relaunch of the project – even as the U.S. Securities and Exchange Commission (SEC) alleges the project’s native token, MNGO, is a secu...
Business
Jan. 26, 2023

Brevan Howard Hires Dragonfly Capital Veteran as Digital Portfolio Manager

The digital assets arm of traditional finance giant Brevan Howard has hired a new portfolio manager, Dragonfly Capital veteran Kevin Hu. He will be based in Brevan Howard’s new Abu Dhabi office and will report to BH Digital CEO Gautam Sharma, acc...
Business
Jan. 26, 2023

Moody’s Developing Scoring System for Stablecoins: Bloomberg

Global ratings agency Moody’s is working on a system to score up to 20 stablecoins based on the quality of their reserves attestations, according to a report from Bloomberg , citing a person familiar with the plans. The project is in its infanc...
Business
Jan. 26, 2023

Sui-Based Ethos Wallet Raises $4.2M in Seed Round

Ethos Wallet, which integrates into decentralized applications (dapps) on the Sui blockchain, has raised $4.2 million in a seed funding round led by Boldstart ventures and gumi Cryptos Capital (gCC). The funds will be used for hiring, continued d...
Business
Jan. 26, 2023

Conflux Token Spikes 60% as Blockchain Integrates China’s Version of Instagram

Conflux, the native token of the layer-1 Conflux blockchain, soared by 60.25% on Thursday after it announced that it had integrated Little Red Book, China's version of Instagram. The token, which hit a low of $0.022 on Jan. 1, is currently tradi...
Business
Jan. 26, 2023

Web3 Infrastructure Startup Spatial Labs Raises $10M

Spatial Labs has raised $10 million in a seed funding round led by Blockchain Capital. The capital will be used toward new product innovations and growth initiatives, according to the press release The funding round also included Marcy Venture P...
Business
Jan. 25, 2023

Robinhood’s Twitter Account Promotes Scam Token on Binance’s BNB Chain in Unauthorized Posts

Add Robinhood Markets (HOOD) to the list of parties affected by crypto frauds – the online brokerage’s social media profiles on Wednesday promoted the launch of RBH, a new scam token on the BNB Chain. The crypto ecosystem was quick to presume th...
Business
Jan. 25, 2023

Tesla Did Not Buy or Sell Any Bitcoin in the Fourth Quarter

Electric car maker Tesla (TSLA) did not buy or sell any bitcoin in the fourth quarter for the second straight quarter, the company reported Wednesday in its latest earnings report . The value of its digital assets at the end of the quarter was ...
Business
Jan. 25, 2023

Crypto Exchange Bithumb Owner’s Arrest Requested by South Korean Prosecutors: Report

South Korean prosecutors are seeking the arrest of Kang Jong-Hyun, the chairman and owner of cryptocurrency exchange Bithumb, a Korean news outlet reported on Wednesday. Kang and two other executives – including his younger sister, Kang Ji-Yeo...
Business
Jan. 25, 2023

Crypto Options Exchange Deribit Plans Move to Dubai: Report

Bitcoin and ether options exchange Deribit — the world’s largest by volume and open interest – is eyeing a move to Dubai as regulators begin to provide greater clarity on crypto regulatory guardrails there. The exchange plans to open a Dubai off...
Business
Jan. 25, 2023

Metaverse-Focused Blockchain Lamina1 Promotes President to CEO

Metaverse-focused layer 1 blockchain protocol Lamina1 has promoted President Rebecca Barkin to be its CEO effective immediately, according to a company blog post . As CEO, Barkin will oversee all business operations for Lamina1, including “part...
Business
Jan. 25, 2023

DYDX Token Surges 21% as Report Says Token Unlock Delayed Until December

Decentralized derivatives exchange dYdX has delayed the unlock of its native DYDX token for investors until Q4, according to an investor note obtained by The Block . The DYDX token has surged by 21.26% following the publishing of the report. M...
Business
Jan. 25, 2023

Crypto Long & Short: Bitcoin's Hedge Potential

Greetings. I’m Glenn C. Williams Jr., and it's my pleasure to join as author of this newsletter. I come from traditional finance, where I covered the oil-and-gas sector as an analyst. My transition to digital assets has been informative and enjo...
Business
Jan. 25, 2023

How a Crypto Quant Firm Shook Off the Bear Market – And FTX Exposure

Crypto quantitative trading firm Pythagoras Investment Management LLC made it through the turmoil of 2022 in a rare position. The firm’s funds were up 8% for the year even with exposure to the implosion of crypto exchange FTX. However, the market...
Business
Jan. 25, 2023

Crypto Exchange Luno Cutting 35% of Its Staff

Cryptocurrency exchange Luno is cutting 35% of its workforce, citing the "incredibly tough year" affecting the crypto market. According to the company's LinkedIn page , Luno has more than 600 employees, meaning it will cut over 210 jobs. Luno s...
Business
Jan. 25, 2023

Pantera, Jump Crypto Back $150M Injective Ecosystem Fund

Injective, a Cosmos-based layer 1 blockchain for building finance apps that can access other blockchains, unveiled a $150 million ecosystem initiative with partners including crypto investment firms Pantera Capital and Kucoin Ventures, market mak...
Business
Jan. 25, 2023

Crypto Lender Celsius Wins Court Approval for Customer Withdrawals, Flare Token Airdrop

Bankrupt crypto lender Celsius Network secured approval to process certain customer withdrawals, several court orders filed on Tuesday show. One, signed by Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York, au...
Business
Jan. 25, 2023

Index Coop Introduces Index for Diversified Liquid Ethereum Staking

Decentralized autonomous organization (DAO) Index Coop has released an index that offers users diversified liquid staking assets on the Ethereum network. The Diversified Stakes ETH Index (dsETH) is designed to make it easier for users to distrib...
Business
Jan. 25, 2023

Binance Introduces Function for API Users to Prevent Self Trading

Cryptocurrency exchange Binance has introduced a new function to help its API users prevent self-trading on their platform. The service will be available to Binance's API users from Jan. 26. Users of the exchange's website and app will not be af...
Business
Jan. 24, 2023

Crypto Infrastructure Firm Blockstream Raises $125M for Bitcoin Mining

Crypto infrastructure company Blockstream raised $125 million in convertible note and secured loan financing to expand its bitcoin mining hosting services. The company, which raised $210 million in August at a $3.2 billion valuation, said in a...
Business
Jan. 24, 2023

Coinbase Trading Volume Increases in January While Other Exchanges See Declines: JP Morgan

Trading volume on Coinbase picked up in the early weeks of 2023, while other exchanges saw continuing declines, analysts at J.P. Morgan found, a sign that Coinbase’s reputation as a trustworthy exchange is paying off after the collapse of rival e...
Business
Jan. 24, 2023

CEO of Canadian Utility That Proposed Banning New Power to Crypto Miners Exits

Sophie Brochu, the CEO of Hydro-Quebec - the utility company of the province of Quebec that late last year proposed suspending new power supply to the blockchain industry - is departing the firm on April 11, according to a Jan. 10 statement . “...
Business
Jan. 24, 2023

Bullish Token Unlocks Buck Bear Market Trend in Spur to Altcoin Season

The overcrowded short trade in the lead up to token unlocks is beginning to backfire, with several altcoins showing signs of strength into what is normally perceived to be a bearish event. This week Axie Infinity (AXS) surged by 40% in the lea...
Business
Jan. 24, 2023

Investment Manager Wilshire Taps Crypto Trading Firm FalconX for Digital Assets Indexes

Wilshire, a private investment management firm, tapped crypto trading firm FalconX to provide digital asset indexes for its institutional clients. The two firms will work together on a set of single-coin, multicoin and thematic indexes for insti...
Business
Jan. 24, 2023

Crypto Recovery Specialist Asset Reality Raises $4.91M to Hire Engineers, Expand Ops

London-based Asset Reality has raised $4.91 million in seed money to build a full service solution for crypto asset recovery, according to a press release provided exclusively to CoinDesk. The fundraising was led by Framework Ventures, TechSta...
Business
Jan. 24, 2023

QuickNode Raises $60M in Series B at $800M Valuation

QuickNode, a development platform that helps Web3 builders create apps, has closed a $60 million Series B funding round at an $800 million valuation led by 10T Fund with participation from Tiger Global, 776 and QED, among others. The capital will...
Business
Jan. 24, 2023

Binance Mistakenly Mixed Crypto Exchange's Client Funds With B-Token Collateral: Bloomberg

Binance, the world’s largest crypto exchange by trading volume, mistakenly kept collateral for some of the crypto assets it issues in the same wallet as funds belonging to its customers, Bloomberg reported, citing an unidentified Binance spokespe...
Business
Jan. 24, 2023

Binance Processed Nearly $346M of Bitcoin Trades for Crypto Exchange Bitzlato: Reuters

Binance processed $345.8 million worth of bitcoin transactions for crypto exchange Bitzlato, Reuters reported Tuesday , citing data by blockchain research firm Chainalysis. The world's largest crypto exchange by trade volume, Binance, according...
Business
Jan. 24, 2023

Swapping More Than $157M of ETH for stETH And Levering Up, the Wormhole Network Exploiter Is a DeFi Degen

The wallet that stole 80,000 ETH from the Wormhole Portal Token Bridge last year sprung back to life on Monday after 355 dormant days, trading on leverage like a true crypto twitter ‘degen’ as it moved a massive amount of capital throughout t...
Business
Jan. 24, 2023

Swiss Bank Cité Gestion Becomes First Private Bank to Tokenize Its Own Shares

Cité Gestion, an independent Swiss private bank founded in 2009, is using Taurus technology to tokenize its own shares as the bank delves deeper into blockchain technology. The move will be the first by a private bank to issue shares as ledger-b...
Business
Jan. 23, 2023

A Dive Into 0xd62, a Genesis OTC Wallet That’s Moving Money

A key crypto wallet at Genesis Global Trading moved a substantial amount of ether (ETH) around the same time the trading firm’s sibling filed for bankruptcy protection last week. The over-the-counter trading desk’s wallet transferred out 75...
Business
Jan. 23, 2023

VC Firm Pantera's 2023 Crypto Forecast Says the Future Is DeFi

Crypto-focused venture capital firm Pantera Capital, which has about $3.8 billion in assets under management, has summed up its 2023 forecast and the future is decentralized finance (DeFi). The bear market that emerged early last year was worsen...
Business
Jan. 23, 2023

Bitcoin Miner Argo Blockchain's Shares Climb After Regaining Nasdaq Listing

The shares of bitcoin miner Argo Blockchain (ARBK) rose as much as 14% on Monday after the company gained listing compliance with Nasdaq, thanks to a late December deal with Galaxy Digital to avoid bankruptcy and the recent rise in the price of b...
Business
Jan. 23, 2023

Crypto Exchange Gemini Cutting Another 10% of Staff: Report

In at least its third round of layoffs since June, crypto exchange Gemini is laying off another 10% of its staff, according to an internal message viewed by The Information . Gemini has been swept up in the bankruptcy of crypto lender Genesis ...
Business
Jan. 23, 2023

Latin American Stablecoin Adoption Expected to Grow Amid High Inflation

Last year’s global turmoil for the crypto industry did not affect stablecoin adoption in Latin America, and the use of cryptocurrencies pegged to the U.S. dollar is seen rising again this year, four regional crypto industry leaders said during th...
Business
Jan. 23, 2023

Harmony Hackers Cover Tracks by Bridging Portion of $100M Loot to Avalanche, Ethereum and Tron

The hackers that targeted the Harmony network in a $100 million attack last year have bridged their ill-gotten gains from Bitcoin to Avalanche, Tron and Ethereum, according to on-chain analysis by blockchain sleuth MistTrack. Lazarus Group, a ...
Business
Jan. 23, 2023

Web3 Social Wallet Tribes Launches With $3.3M in Funding

Tribes , a newly launched Web3-native messaging and group wallet app, has raised $3.3 million in a pre-seed funding round led by Kindred Ventures, South Park Commons and Script Capital. The fundraise closed in October, Tribes founder and CEO Hi...
Business
Jan. 23, 2023

Binance Says Signature Bank Won’t Support Transactions for Crypto Exchange Customers of Less Than $100K

Signature Bank will not handle transactions of less than $100,000 for crypto exchange customers, according to a statement from exchange giant Binance. Binance said in the statement emailed to CoinDesk that Signature had told the company that it...
Business
Jan. 20, 2023

First Hearing in Genesis Bankruptcy Case Set For Monday

Crypto lender Genesis Global Capital’s “First Day Hearing” in its Chapter 11 bankruptcy case will take place on Monday, Jan. 23, at 2:00 PM according to court filings. Genesis is owned by Digital Currency Group, which also owns CoinDesk. Read...
Business
Jan. 20, 2023

Genesis’ Crypto Trading Arm Is Moving Money Around, a Sign of Normalcy Amid Sibling’s Bankruptcy

Even as Genesis’ crypto-lending business entered bankruptcy court protection, the company’s trading arm, which remained out of Chapter 11, is still moving money around on blockchains – a sign the business was still running at least somewhat as no...
Business
Jan. 20, 2023

Bitcoin Miner 1Thash Sent Almost All Its BTC to Binance

A Chinese miner has sent nearly 5,600 bitcoin (BTC), about $124 million worth, to the Binance crypto exchange, blockchain data shows, in what might be interpreted as a move to sell the holdings. Bitcoin miner 1Thash sent almost its entire bag of...
Business
Jan. 20, 2023

Moody’s Further Downgrades Coinbase Junk Bonds, Joining S&P

Credit-ratings giant Moody’s has downgraded both Coinbase’s (COIN) long-term credit rating as well as its guaranteed senior unsecured notes, it said Friday, citing “substantially weakened revenue and cash flow generation capacity.” Coinbase’s co...
Business
Jan. 20, 2023

SEC Sues Eisenberg for Draining Mango Markets, Alleges MNGO a Security

The Securities and Exchange Commission on Friday charged DeFi trader Avraham Eisenberg over his draining of $116 million from Solana-based decentralized exchange Mango Markets. The SEC’s charges rest on the agency’s assertion that MNGO, Mango Ma...
Business
Jan. 20, 2023

Genesis Claims $5.1B in Liabilities in First Day Bankruptcy Filing

Bankrupt crypto lending firm Genesis held $5.1 billion in liabilities in the weeks following its freeze on withdrawals last November, according to court documents signed by interim CEO Derar Islim. In his First Day Motion in the Southern Distric...
Business
Jan. 20, 2023

Fairfax County, Virginia, Pension Funds Exposed to Genesis Bankruptcy

Genesis Global Holdco, the parent company of cryptocurrency lender Genesis Global Capital and a sister company of CoinDesk, filed for Chapter 11 bankruptcy protection late Thursday because of its exposure to collapsed hedge fund Three Arrows Ca...
Business
Jan. 20, 2023

Crypto Trading Firm Cumberland DRW Disputes Genesis Exposure

Crypto trading firm Cumberland DRW has disputed the amount Genesis Global Capital, the crypto lender that filed for Chapter 11 bankruptcy protection in the U.S. on Thursday, says it owes Cumberland. The Chicago-based firm was listed in a bankr...
Business
Jan. 20, 2023

Ex-FTX US Head Raises $5M for Startup Months After Exchange Collapse

Brett Harrison, the former president of FTX US, has raised $5 million for a new crypto startup called Architect that will build trading software tailored toward large investors and institutions, according to a Bloomberg report . Investors inclu...
Business
Jan. 20, 2023

Digital Currency Group Owes Subsidiary Genesis Global Over $1.65B

Bankruptcy filings for Genesis Global and its related entities show parent Digital Currency Group (DCG) owes its affiliate more than $1.65 billion. DCG is also the parent company of CoinDesk. The three entities which filed for bankruptcy protec...
Business
Jan. 20, 2023

Former FTX Lawyer Opposes Hiring Sullivan & Cromwell for Bankruptcy

Individual objectors have sought to delay an FTX hearing in the United States Bankruptcy Court in the district of Delaware scheduled at 10:00 a.m. EST on Jan. 20. The hearing is expected to be about whether FTX can retain the services of New Yor...
Business
Jan. 20, 2023

Cameron Winklevoss Threatens Legal Action Against DCG CEO After Genesis Bankruptcy

Gemini CEO Cameron Winklevoss threatened to sue Digital Currency Group CEO Barry Silbert over the repayment of a $900 million loan in a tweet published just minutes after the crypto lender’s Chapter 11 filed for Chapter 11 bankruptcy late Thursda...
Business
Jan. 20, 2023

Genesis Owes Over $3.5B to Top 50 Creditors

Crypto exchange Gemini, Trading giant Cumberland, Mirana, MoonAlpha Finance and VanEck’s New Finance Income Fund are among the fifty largest Genesis creditors, according to a bankruptcy filing published on Friday. Crypto lender Genesis filed fo...
Business
Jan. 20, 2023

Genesis' Crypto Lending Businesses Files for Bankruptcy Protection

Genesis Global Holdco, LLC the parent company of troubled crypto lender Genesis Global Capital, filed for Chapter 11 bankruptcy protection late Thursday night in New York federal district court. In a voluntary petition, Genesis Global Holdco, LL...
Business
Jan. 19, 2023

Huobi, Confirming Justin Sun as Leader, Takes Aim at 'Rat Trading'

Singapore-based exchange Huobi confirmed Thursday that Justin Sun, founder and CEO of Tron, and one of the richest people in crypto, is not just a member of the Global Advisory Board but is leading the exchange. “Under the leadership of Justin...
Business
Jan. 19, 2023

Gemini’s Bitcoin Inflows From Other Exchanges Dropped to Roughly Six-Year Low, CryptoQuant Data Shows

Executives at Gemini, the crypto exchange led by Cameron and Tyler Winklevoss, have insisted in a blog post that the halt in customer withdrawals on the company’s $900 million Earn program “does not impact any other Gemini products and services...
Business
Jan. 19, 2023

Alameda-Connected Bank Exits Crypto Business

Farmington State Bank, which does business under the Moonstone Bank name, is returning to its longtime role as a community lender and eschewing the crypto business, the company said in a press release . Alongside, the lender is dropping the Moon...
Business
Jan. 19, 2023

Sports NFT Firm Candy Digital Raised Over $38M Amid Founder Strife

Sports-focused non-fungible token (NFT) company Candy Digital announced a Series A extension funding round earlier this month but didn’t specify the monetary amount. The news followed media reports that sports merchandiser Fanatics was selling...
Business
Jan. 19, 2023

New FTX Head Says Crypto Exchange Could Be Revived: Wall St. Journal

The new head of FTX is exploring the possibility of restarting the bankrupt crypto exchange, according to an interview he gave to the Wall Street Journal , his first since taking over at FTX in November. John J. Ray III, who previously handled ...
Business
Jan. 19, 2023

Crypto Exchange Luno's Co-Founder Departed in December

Cryptocurrency exchange Luno's co-founder and chief technology officer (CTO) Timothy Stranex exited in December to "pursue personal projects," the firm has said. Stranex's departure came nearly 10 years after he founded the company alongside Car...
Business
Jan. 19, 2023

Bitcoin Miner CleanSpark Builds 50MW Additional Mining Capacity at Georgia Site

Bitcoin miner CleanSpark (CLSK) started the construction of 50 megawatts (MW) of infrastructure, which could increase its computing power by 25% to 34%. CleanSpark has managed to capitalize on the bear market, buying up distressed assets while i...
Business
Jan. 19, 2023

Ethereum Development Firm Flashbots Eyes Unicorn Status as it Seeks to Raise $50M: Report

Ethereum research and development firm Flashbots is in discussions over a potential fund raise of up to $50 million, according to a report by The Block on Thursday. The startup is aiming to raise between $30 million and $50 million at a valuat...
Business
Jan. 19, 2023

SSV DAO Starts $50M Fund to Push Ethereum's Decentralization Plan

SSV DAO, the decentralized autonomous organization behind the decentralized staking protocol SSV.network , is starting a $50 million ecosystem fund to help mature Distributed Validator Technology (DVT) infrastructure. DVT refers to a technology...
Business
Jan. 19, 2023

Ransomware Variants Are on the Rise, But Overall Gains Decline: Chainalysis

In 2022, ransomware hackers received $456.8 million from their victims, 40% less than the $765.6 million they pocketed in 2021, said blockchain analytics company Chainalysis in a new report . The trend was earlier noticed by another analytics ...
Business
Jan. 19, 2023

Raydium Exchange Exploiter Sends $2.7M to Tornado Cash

The person that exploited Solana-based decentralized exchange Raydium has sent $2.7 million in ethereum to now-sanctioned coin mixing protocol Tornado Cash. Transaction logs on etherscan show that a wallet tagged as "Raydium Exploiter" sent a ...
Business
Jan. 19, 2023

Crypto Exchange BitMart to Join Custodian Copper’s ClearLoop Network

Crypto exchange BitMart is set to offer its institutional clients off-exchange settlement by partnering with digital assets custody firm Copper, the company said in a statement on Thursday. BitMart will be joining Copper’s ClearLoop network subj...
Business
Jan. 19, 2023

Ethereum Name Service's Governance Proposal Outlines Intention to Sell 10,000 ETH

A governance proposal put forward by a member of the Ethereum Name Service (ENS) DAO, decentralized autonomous organization, suggests liquidating 10,000 ether (ETH) to cover operating costs over the next two years. ENS is a decentralized domain ...
Business
Jan. 19, 2023

Fireblocks Enlists Crypto Insurance Firm Coincover for Third-Party Key Recovery Service

Cryptocurrency custody specialist Fireblocks has deepened its relationship with U.K.-based digital assets protection and insurance company Coincover, doubling down on backup and disaster recovery for cryptographic keys. Fireblocks, which emplo...
Business
Jan. 19, 2023

Binance Named as Counterparty in FinCEN Order Against Bitzlato

Binance, the world's largest crypto exchange, was named as a counterparty in an order against the little-known cryptocurrency exchange, Bitzlato, accused of laundering $700 million by U.S. authorities on Wednesday. Binance was named as the top...
Business
Jan. 19, 2023

National Australia Bank Becomes Second Australian Bank to Build Stablecoin: Report

The National Australia Bank (NAB), one of the four biggest Australian banks, has created a stablecoin called AUDN which it aims to launch in the middle of 2023, according to the Australian Financial Review (AFR) report. The purpose of AUDN wou...
Business
Jan. 19, 2023

Circle Ventures Backs $4M Round for Blockchain-Based Debt Provider Obligate

Obligate, a startup offering blockchain-based regulated debt securities, announced a $4 million seed extension round. The funds will help the firm, which was formerly known as FQX, scale its debt platform that is set to go live next month on the...
Business
Jan. 18, 2023

SHIB Is a Favorite Holding Among New Crypto Wallets, Nansen Shows

While it remains a brutal bear market in crypto, Nansen’s analysis of on-chain data highlights how risk-taking traders are participating in the new year’s pump – especially when it comes to SHIB. Over the past seven days, the Shiba Inu token ...
Business
Jan. 18, 2023

Skybridge Capital Founder: The Time to Invest in Crypto Is Now

Bitcoin's price could be nearing its bottom point so the time to invest in it may be now, Anthony Scaramucci, founder of asset manager SkyBridge Capital, said Tuesday. Speaking to CoinDesk TV’s “First Mover” from the World Economic Forum’s annua...
Business
Jan. 18, 2023

Crypto Brokerage Genesis Global Capital May Be Nearing Bankruptcy Filing: Reports

Genesis Global Capital, the institutional crypto brokerage whose lending unit halted customer withdrawals in the aftermath of FTX's failure, is laying the groundwork for a bankruptcy filing, according to reports. Bloomberg reported Genesis as in...
Business
Jan. 18, 2023

Binance CEO Changpeng Zhao Says Many Crypto Players ‘Get Distracted’ By Money

Focus on the fundamentals of crypto technology and becoming a reliable player in finance rather than getting distracted by the money in the space, said Binance founder and CEO Changpeng “CZ” Zhao, holding court at the World Economic Forum in Davo...
Business
Jan. 18, 2023

ConsenSys Confirms Job Cuts; CEO Lubin Touts a Win for Decentralization Over ‘Ridiculous’ CeFi

Ethereum development company ConsenSys will be cutting 97 jobs, said CEO Joe Lubin in a blog post on Wednesday, confirming, for the most part, a report by CoinDesk last week . “Today we need to make the extremely difficult decision to streamlin...
Business
Jan. 18, 2023

Fintech Firm Arch Starts Crypto Lending Product, Raises $2.75M

Arch, a financial technology company targeting alternative asset investors, announced started its first product on Wednesday. The firm also announced that it had closed a $2.75 million funding round, which closed in the second half of last year....
Business
Jan. 18, 2023

EY and Polygon Ready Privacy-Focused Ethereum for Enterprise Release

EY’s Nightfall, a five-years-in-the-making system allowing businesses to shield the content of transactions on the public Ethereum blockchain, has entered its final phase of production readiness for deployment using the Polygon network. The late...
Business
Jan. 18, 2023

DeFi-Focused Startup Blue Comes Out of Stealth With $3.2M Raise

Blue, which offers know-your-customer (KYC) and anti-money laundering (AML) identity verification solutions for traders on DeFi protocols, has come out of stealth with $3.2 million in funding. The funds were raised in a seed round co-led by Bloc...
Business
Jan. 18, 2023

Coinbase Confirms it is Halting Operations in Japan

Cryptocurrency exchange Coinbase (COIN) said it is halting its operations in Japan, citing "market conditions" as the reason. Customers have until Feb. 16 to withdraw their fiat and crypto holdings from the exchange, Coinbase announced on Wedne...
Business
Jan. 17, 2023

Crypto Conglomerate DCG Suspends Dividends Amid Distress at Genesis Unit

Cryptocurrency conglomerate Digital Currency Group has informed its shareholders the firm is suspending dividends until further notice. "In response to the current market environment, DCG has been focused on strengthening our balance sheet by re...
Business
Jan. 17, 2023

Latin American Web3 Infrastructure Provider Parfin Raises $15M

This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney , one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter . Parfin, a Latin American Web3 infrastructure provid...
Business
Jan. 17, 2023

CBDCs Are the Future of Money, IBM Exec Says

Central bank digital currencies (CBDCs) have the potential to change payment systems, Shyam Nagarajan, an executive partner at IBM Consulting, said Monday on CoinDesk TV’s “ First Mover ” from the World Economic Forum's annual conference in Davos...
Business
Jan. 17, 2023

Solana Foundation, Ripple, GBBC and Others Form Partnership to Promote Crypto Solutions for Climate Change

DAVOS, Switzerland — Solana Foundation and blockchain platform Ripple are partnering with industry group Global Blockchain Business Council (GBBC) to accelerate the use of crypto-based solutions for climate change. The newly founded non-govern...
Business
Jan. 17, 2023

HashKey Capital Raises $500M for 3rd Crypto Fund

HashKey Capital, the investment arm of financial-services firm HashKey Group, has closed its third fund with $500 million in committed capital. The fund will invest in crypto and blockchain initiatives around the world with a focus on emerging ma...
Business
Jan. 17, 2023

Fidelity-Backed Exchange OSL Cuts Workers Amid Ongoing Crypto Winter: Bloomberg

Fidelity-backed crypto exchange OSL is cutting staff and reducing overall costs by about a third in yet another example of a major crypto firm retrenching, according to a report from Bloomberg . The exchange, which was Hong Kong's first licen...
Business
Jan. 17, 2023

Bank of America Says CBDCs Are the Future of Money and Payments

Digital currencies, such as central bank digital currencies (CBDCs) and stablecoins, are the natural evolution of money and payments, Bank of America (BAC) said in a research report on Tuesday. “CBDCs do not change the definition of money, but w...
Business
Jan. 17, 2023

Crypto-Focussed Bank Silvergate Reports Q4 Loss of $1B

Silvergate Capital (SI), the crypto-focussed bank, reported net loss attributable to shareholders of $1 billion for the three months-ended Dec. 31, 2022. The loss figure compares to net income of $18 million for the equivalent quarter in 2021 an...
Business
Jan. 17, 2023

Bernstein Says Custody Services Are the Foundation for Institutional Crypto Adoption

The collapse of crypto exchange FTX has led to a greater focus on using regulated custodians, and the custody revenue opportunity could grow to $8 billion by 2033 from less than $0.3 billion today, Bernstein said in a research report on Tuesday...
Business
Jan. 17, 2023

Crypto Lender Vauld Gets Another Extension for Submitting Restructuring Plan: Bloomberg

Cryptocurrency lender Vauld now has until Feb. 28 to present a plan for its restructuring after being granted an extension by a court in Singapore, Bloomberg reported on Tuesday . Vauld has received bids from two digital asset fund managers to ...
Business
Jan. 16, 2023

Brazil’s Second-Largest Private Bank Launches First Tokenized Credit Note

This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney , one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter . Bradesco, Brazil's second-largest private bank, lau...
Business
Jan. 16, 2023

A Large Crypto Market Maker Is Already Distancing Itself From New 3AC Venture

Wintermute, the large crypto market maker, was quick to distance itself from a new fundraise by the co-founders of bankrupt hedge fund Three Arrows Capital (3AC), echoing similar sentiments from the community. The co-founders of Three Arrows Ca...
Business
Jan. 16, 2023

Binance Will Allow Institutional Investors to Keep Collateral Off the Exchange: Bloomberg

Binance will allow institutional investors to keep their collateralized crypto used for leveraged positions off the platform, Bloomberg reported on Monday. The exchange will let investors to post collateral with Binance Custody, which will hold...
Business
Jan. 16, 2023

Bernstein Expects Crypto Revenue to Jump to Around $400B by 2033

This year will lay the foundations for a decade-long “golden age” of innovation for cryptocurrency applications, as crypto pivots from a fat infrastructure thesis to a fat application thesis, Bernstein said in a research report on Monday. The br...
Business
Jan. 15, 2023

President Herbert Hoover Saves the Day for a Crypto Bank? Yeah, That’s Weird

Silvergate Bank (SI) started in San Diego in 1988 as a savings and loan association (S&L) when that was all the rage. It’s a bank now – for … uh … reasons – that markets itself as a “leading provider of innovative financial infrastructure...
Business
Jan. 13, 2023

Web3 Studio Sortium Raises $7.8M in Seed Round

Sortium, a developer of Web3 entertainment technology, has raised $7.75 million in a seed round with crypto hedge fund Arca among the investors. Web3 infrastructure advancements are widely seen as key to bringing more people and brands into the c...
Business
Jan. 13, 2023

Circulating Supply for The Graph’s GRT Token Jumps With Major Framework Ventures Unlock

The circulating supply for The Graph, a data query protocol for blockchains, jumped over 1% this week after venture backer Framework withdrew 99 million GRT tokens worth some $7 million – the address’s biggest withdrawal ever – from The Graph’s G...
Business
Jan. 13, 2023

Bitcoin Miner Bitfarms Looks to Amend BlockFi Loan, Warns of Default

Bitcoin miner Bitfarms (BITF) is looking to modify a $20 million loan from bankrupt crypto lender BlockFi, the firm said in a press release on Friday. Bitfarms might have already or may in the future stop making instalment payments, effectivel...
Business
Jan. 13, 2023

Hodlnaut Creditors Seek Liquidation, Reject Restructuring Plan: Bloomberg

Creditors of crypto lender Hodlnaut rejected a restructuring plan for the company, according to a Bloomberg report that cited a Jan. 11 filing. Their preference is for the liquidation of the firm, saying it better serves their interests, accor...
Business
Jan. 13, 2023

ARK Buys $2.5 Million in Coinbase Shares as COIN Continues Rally

Cathie Wood's crypto conviction continues as ARK made another Coinbase (COIN) buy Thursday. Coinbase is now the 12th-largest holding for the ARK Innovation ETF (ARKK), behind CRISPR Therapeutics and game engine developer Unity, taking up 3.87% o...
Business
Jan. 13, 2023

Crypto.com Cuts Workforce by Nearly 20%

Crypto.com said it is cutting its workforce by around 20% as the crypto industry continues to reel from the effects of the ongoing crypto winter. The firm cited the economic headwinds from the downturn in the crypto market and the FTX implosio...
Business
Jan. 12, 2023

Canadian Crypto Exchanges Coinsquare, WonderFi in Advanced Talks to Merge: Bloomberg

Coinsquare Ltd. and WonderFi Technologies (WNDR) are in advanced talks to merge and become Canada’s largest crypto exchange, according to a report from Bloomberg , citing sources familiar with the matter. An announcement could come in the next ...
Business
Jan. 12, 2023

Crypto Market Maker CyberX Gets $15M From Foresight Ventures

Crypto market maker CyberX has raised $15 million in a strategic investment from Foresight Ventures, a crypto venture capital firm with about $400 million in assets under management. CyberX will use the funds to expand its teams in Asia and Nort...
Business
Jan. 12, 2023

Sam Bankman-Fried Denies Stealing Funds in New Online Post

FTX founder Sam Bankman-Fried gave his take on what happened to his bankrupt crypto exchange in a lengthy new post on Substack published Thursday. In it, he denied stealing funds and claimed the reason for FTX’s and sister company Alameda’s co...
Business
Jan. 12, 2023

Two Advisor Credentialing Organizations Have Their Say on Crypto

After federal regulators including the Securities and Exchange Commission and the Department of Labor as well as Finra, the largest independent industry regulator, perhaps no one speaks louder on advisor best practices and compliance than the C...
Business
Jan. 12, 2023

US Inflation Rate Slows to 6.5% in December, Inline With Estimates

The consumer price index (CPI) slipped 0.1% in December, roughly inline with expectations for a flat reading. On an annualized basis, the CPI was higher by 6.5%, inline with expectations and down from 7.1% a month earlier. The core CPI – which s...
Business
Jan. 12, 2023

Troubled Crypto Lender Genesis Owes Creditors Over $3B: FT

Troubled crypto lender Genesis owes its creditors over $3 billion prompting its parent company Digital Currency Group (DCG) to look at some asset sales to pay off the debt, the Financial Times reported on Thursday, citing sources. DCG is cons...
Business
Jan. 12, 2023

Nexo Subject to Investigation in Bulgaria Over Alleged Money Laundering, Tax Offenses

Crypto lender Nexo is being investigated by authorities in Bulgaria over alleged money laundering, tax offenses and fraud. The Bulgarian Prosecutor's Office issued a statement Thursday saying an investigation was underway to "neutralize the cr...
Business
Jan. 12, 2023

Crypto Brokerage Blockchain.com Lays Off 28% of Workforce as Industry's Cruel Winter Continues

Cryptocurrency brokerage Blockchain.com said it's letting go of 28% of its workforce, or about 110 employees, adding to a dreadful week of bloodletting across the battered cryptocurrency industry. Thursday’s job losses come after Blockchain.com ...
Business
Jan. 12, 2023

Alkimiya Raises $7.2M Funding Round to Grow Cash Flow Hedging Protocol for Miners, Stakers

Alkimiya, a decentralized capital markets protocol, has raised $7.2 million in funding as it seeks to attract miners and stakers wanting to hedge their cash flow as they attempt to navigate the current bear market. The funding round was led by C...
Business
Jan. 12, 2023

Cathie Wood's ARK Adds Nearly $3.3M Shares of Coinbase

ARK has added 74,792 shares of Coinbase (COIN) to the ARK Innovation ETF (ARKK), according to an investor email on Thursday. The shares purchased were worth around $3.28 million, based on Coinbase's last closing price of $43.79 on Wednesday. At ...
Business
Jan. 11, 2023

Coinbase Junk Bonds Further Downgraded by S&P on Weak Profitability, Regulatory Risks

S&P Global Ratings, the biggest rating agency globally, has downgraded its long-term credit rating and senior unsecured debt rating on Coinbase (COIN), citing weak profitability from lowered trading volumes and regulatory risks, the agency sa...
Business
Jan. 11, 2023

As Crypto Crashes, Coinbase Bets Big on Europe

Coinbase wants potential customers in Europe to give it a warm reception as crypto winter chills trading activity in its home market. But expanding into Europe may not be enough to reverse the company’s fortunes. On Tuesday morning, the publicly...
Business
Jan. 11, 2023

Crypto Terms Become Dirty Words as Bear Market Lingers

For years, drawing attention to your company could be as simple as adding a crypto-y word to your name or touting new cryptocurrency-related initiatives. From Long Island Iced Tea Corp.’s infamous 2017 decision to rebrand itself as Long Blockc...
Business
Jan. 11, 2023

DOJ Said to Probe Saber Labs Founders Over Solana-Based DeFi, Stablecoin Projects

The U.S. Department of Justice is investigating the two brothers behind Solana stablecoin exchange Saber Labs, Ian and Dylan Macalinao, according to two people familiar with the matter. The investigation follows CoinDesk’s August report that t...
Business
Jan. 11, 2023

Amazon Web Services Taps Avalanche to Bring Blockchain Technology to Enterprises, Governments

Cloud-computing platform Amazon Web Services will work with Ava Labs to try to bring wider adoption of blockchain technology by enterprises, institutions and governments, the two companies announced in a blog post Wednesday. The partnership wi...
Business
Jan. 11, 2023

Coinbase Could Be One of Crypto’s Long-Term Survivors: Oppenheimer

Coinbase (COIN) could be one of the crypto ecosystem’s few remaining players as a crypto winter continues to hit all corners of the industry , Owen Lau, a senior analyst at investment firm Oppenheimer, told CoinDesk TV’s “First Mover.” “If many...
Business
Jan. 11, 2023

Cosmos-Based DeFi Protocol Quasar Raises $5.4M

The collapse of multibillion-dollar centralized crypto exchange FTX has renewed focus on the promise of decentralized finance. However, decentralized finance (DeFi) still has growing pains due, in part, to fragmentation across multiple blockc...
Business
Jan. 11, 2023

Coinbase Rally May be a Selling Opportunity, Says Bank of America

The Coinbase (COIN) consensus revenue outlook for this year is still too rosy, says Bank of America’s Jason Kupferberg, downgrading the stock to underperform from neutral and cutting his price target to $35 from $50. Kupferberg’s downgrade comes...
Business
Jan. 11, 2023

FTX Creditor Claims Going for 13 Cents on the Dollar on Bankruptcy Marketplace Xclaim

The $91.7 million in FTX creditor claims listed on the claims trading marketplace Xclaim will likely get around 13 cents on the dollar, according to data released by the site. This is in contrast to the much higher prices that Voyager, BlockFi, ...
Business
Jan. 11, 2023

Argo Blockchain's Bitcoin Mining Margin Widens Most In at Least a Year

Argo Blockchain (ARBK)'s bitcoin mining margin widened in December by the most in at least a year, increasing to 48%, the London-based company said in a filing to the London Stock Exchange . The margin, a measure of profitability that isn't def...
Business
Jan. 10, 2023

Binance.US Cleared to Buy Crypto Lender Voyager Out of Bankruptcy: Reuters

A U.S. bankruptcy judge approved Binance.US's deal to purchase crypto lender Voyager Digital for about $1 billion, Reuters reported. Voyager initially agreed to sell itself to FTX, but reopened the bidding process after Sam Bankman-Fried's e...
Business
Jan. 10, 2023

Market Maker Group One Discloses 13.5% Stake in MicroStrategy

Chicago-based Group One Trading in an SEC filing on Tuesday disclosed the ownership of nearly 1.3 million shares of MicroStrategy (MSTR), which amounts to 13.5% of the company, or a dollar value of about $237 million at MSTR's current price of ...
Business
Jan. 10, 2023

Metaverse Can Build Access for Big Companies, Says Virtual Brand Group CEO

The metaverse provides big companies an opportunity to expand and leverage their position in the world of commerce, according to Justin Hochberg, CEO of metaverse building company Virtual Brand Group (VBG). “In the metaverse you can repositi...
Business
Jan. 10, 2023

Analysts ‘Encouraged’ by Coinbase Layoffs as They Show Company Is Being Financially Disciplined

Analysts on Wall Street reacted positively to a second round of job cuts announced by Coinbase (COIN) on Tuesday. “We are encouraged by this morning's news, as it shows the company is taking financial discipline seriously in a very challenging...
Business
Jan. 10, 2023

Ethereum Software Firm ConsenSys to Cut Upwards of 100 Staff

ConsenSys , the developer of the crypto wallet MetaMask, plans to lay off 100 staffers or more, according to a person familiar with the matter. The New York City-headquartered Ethereum studio currently has about 900 employees. The planned cuts ...
Business
Jan. 10, 2023

DCG's Barry Silbert Talks About Genesis in Letter to Shareholders

Barry Silbert, the head of crypto conglomerate Digital Currency Group (DCG), gave his shareholders more details about his company's Genesis Capital lending division that was forced to halt customer withdrawals in the aftermath of FTX's November c...
Business
Jan. 10, 2023

A Binance Stablecoin Wasn't Always Fully Backed: Bloomberg

Binance acknowledged that its Binance-peg BUSD stablecoin hasn't always been backed fully with reserves, but said it's now fixed the problem, according to a report from Bloomberg . The token was at times undercollateralized in 2020 and 2021, Bl...
Business
Jan. 10, 2023

Gemini Terminates Its Crypto Yield Product, Amping Up Battle With Genesis

The Winklevoss twins' crypto exchange Gemini escalated its dispute with Digital Currency Group's (DCG) Genesis Global Trading – its partner on a crypto lending product pitched to smaller investors – by terminating a key aspect of their relationsh...
Business
Jan. 10, 2023

Euro Stablecoin EURR Issuance Ceased

Stablecoin issuing protocol e-Money has ended its issuance of EEUR, a stablecoin pegged to the euro, citing current market conditions as the reason. Issuance ceased on Jan. 9 with redemption of the stablecoin supported until March 6, according ...
Business
Jan. 10, 2023

Gemini's Cameron Winklevoss Calls For Barry Silbert's Ouster From DCG

Cameron Winklevoss, the co-founder of crypto exchange Gemini, issued an open letter on Tuesday calling for the ouster of Digital Currency Group (DCG) CEO Barry Silbert a week after calling out Silbert over a business disagreement. Winklevoss a...
Business
Jan. 10, 2023

Coinbase Cuts Around 20% Workforce as Crypto Winter Rages

Crypto exchange Coinbase (COIN) has said it is planning to reduce its headcount by around 950 employees as part of a restructuring which it expects to be complete by the end of Q2 2023. This figure would amount to around 20% of Coinbase's workfo...
Business
Jan. 10, 2023

FTX’s Former Engineering Chief Nishad Singh Looking for Deal From Feds: Report

Another one of Sam Bankman-Fried’s former confidants and roommates is said to be engaging with the U.S. Attorney’s Office in the Southern District of New York with the hope of getting a plea agreement, according to a report from Bloomberg . Nis...
Business
Jan. 10, 2023

Hong Kong Firm With Ties to Bitmain Reorganizes to Focus on Crypto Asset Management and Hedging

A Hong Kong firm with ties to crypto mining manufacturer Bitmain reorganized its business to bring crypto asset management and hedging services to the forefront, as the city pushes for a comeback in the digital asset space. In the past year or s...
Business
Jan. 09, 2023

Galaxy Digital's Head of Research Sees More Venture Funding for Web3 Firms This Year

Web3 blockchain startups and trading-based services led venture-capital deals and funding in 2022, and the trend could continue this year, according to Alex Thorn, head of research at crypto investment firm Galaxy Digital. Thorn told CoinDesk TV...
Business
Jan. 09, 2023

Signature Bank Downgraded at Jefferies Due to Shrinking Crypto Business

Signature Bank’s (SBNY) management’s decision to shrink its digital asset deposits business is understandable given the recent turmoil in the cryptocurrency industry, but the negative impact on net interest margin (NIM) and and net interest incom...
Business
Jan. 09, 2023

CoinDesk Research’s 2022 Annual Crypto Review

As with all financial assets, market performance is usually the first thing that comes to mind when considering a “year in review.” Bitcoin (BTC) and ether (ETH) followed a blistering 2021 with a 65% and 67% pullback in 2022. As for macro assets...
Business
Jan. 09, 2023

Metropolitan Bank Heads for Crypto Exit

Metropolitan Commercial Bank is to end crypto-related services because of "recent developments" in the digital asset industry. One of the few U.S. banks to openly serve the crypto industry in recent years, the New York-based lender's parent, Met...
Business
Jan. 09, 2023

Hive Earned 184 BTC From Curtailing Its Power Use in December — That's Almost As Much As it Mined

Canadian bitcoin miner Hive Blockchain (HIVE) earned about 184 BTC ($3.1 million) by curtailing its power use in December whereas it mined the equivalent of 213.8 BTC. Miners have been curtailing their power use at times of high demand for energ...
Business
Jan. 09, 2023

Jefferies Downgrades Bitcoin Miner Marathon Digital on Construction Delays

Investment bank Jefferies downgraded its rating for bitcoin (BTC) miner Marathon Digital Holdings (MARA) to "hold" from "buy" due to construction delays. "Worsened mining economics and a lack of transparency around the execution risks for MARA's...
Business
Jan. 07, 2023

U.S. Investigators Subpoena Hedge Funds in Binance Money-Laundering Probe: Report

Federal prosecutors are investigating the relationship between Binance and U.S.-based hedge funds as part of a broader investigation into the cryptocurrency exchange's possible skirting of money-laundering guardrails, according to a report by the...
Business
Jan. 07, 2023

Crypto Conglomerate DCG Being Investigated by DOJ, SEC: Report

Officials with the U.S. Department of Justice's Eastern District of New York (EDNY) and the U.S. Securities and Exchange Commission are examining transfers between Digital Currency Group and the conglomerate's Genesis subsidiary, Bloomberg repor...
Business
Jan. 06, 2023

Crypto Bank Juno Chooses Zero Hash to Be New Custodian

Crypto bank Juno has chosen Zero Hash to serve as its new crypto custodian, the company announced in a blog post Friday. The news follows Juno’s warning this week advising clients to self-custody or sell their own crypto amid reports of i...
Business
Jan. 06, 2023

Bitcoin Retakes $17K as Interest Rates Plunge Following Economic Reports

The price of bitcoin ( BTC ) touched $17,000 for the first time in 2023, rallying alongside stocks and bonds on hopes the U.S. Federal Reserve may further slow its pace of monetary tightening. The big economic event of the day was supposed to be...
Business
Jan. 06, 2023

Block Manager Sees Self-Custody as Future of Crypto Post-FTX

Following the collapse of FTX, the future of crypto is self-custody, said Max Guise, bitcoin wallet lead at Block (SQ), the payments company led by Twitter co-founder Jack Dorsey. “We want to put customers in control of their money,” Guise said ...
Business
Jan. 06, 2023

U.S. Adds Better Than Expected 223K Jobs in December, Unemployment Rate Falls to 3.5%

The U.S. added 223,000 jobs in December, reported the Bureau of Labor Statistics in its monthly Nonfarm Payrolls report. That was down from a revised 256,000 jobs in November (originally reported as 263,000) and topped economist forecasts for 200...
Business
Jan. 06, 2023

JPMorgan Downgrades Silvergate Capital After 4Q Results, Shares Slump

Silvergate Capital (SI) witnessed worse than expected deposit outflows in the fourth quarter and the financial impacts of these outflows will have implications on long-term profitability, JPMorgan (JPM) said in a research report on Friday. JPMo...
Business
Jan. 06, 2023

Sam Bankman-Fried Seeks to Keep Grasp on $450M in Robinhood Shares

Sam Bankman-Fried has argued he should retain control of around $450 million in shares of financial trading app Robinhood, disputing a rival claim by the estate of the company he founded and once ran, the bankrupt crypto exchange FTX. The 56 mil...
Business
Jan. 06, 2023

How AI Could Solve the Metaverse’s Language Problem

LAS VEGAS — A key of the metaverse is its inherent democratization: Everybody on the planet theoretically has access to the same virtual world(s), with none of the usual barriers to entry that geography imposes. Except for one. If the people m...
Business
Jan. 05, 2023

Crypto Conglomerate DCG Closes Wealth-Management Business

Digital Currency Group, the cryptocurrency conglomerate whose Genesis Global Trading division just announced more layoffs , said it's shutting down a wealth-management division called HQ. "Due the state of the broader economic environment and p...
Business
Jan. 05, 2023

Microsoft Exec Says Metaverse Is Must-Have

LAS VEGAS, NV – Technology company Microsoft (MSFT) is holding on tightly to its future in the metaverse. Joining CoinDesk TV’s “ All About Bitcoin ” live from CES 2023, Microsoft Chief Strategy Officer Henry Bzeih said that as the world moves t...
Business
Jan. 05, 2023

MicroStrategy, Marathon Digital Shares Fall Amidst Crypto Bank Silvergate's Woes

The stocks of business software company MicroStrategy (MSTR) and bitcoin miner Marathon Digital (MARA) fell close to 5% on Thursday after their lender Silvergate's (SI) shares plunged more than 40% amid large-scale layoffs and a near $200 milli...
Business
Jan. 05, 2023

CME Crypto Trading Volume Slumped to 2-Year Low in December

Derivatives giant Chicago Mercantile Exchange’s (CME) crypto-related trading volumes suffered a steep falloff in the last month of 2022. Total crypto derivatives volume plunged 49.2% to $14.2 billion, according to CryptoCompare , the weakest si...
Business
Jan. 05, 2023

Crypto Lender Genesis Lays Off 30% More of Its Staff

Genesis Global Trading laid off another round of employees on Thursday, a spokesperson for the crypto trading firm confirmed in a statement to CoinDesk. A person familiar with the matter said Genesis eliminated about 30% of its workers, taking i...
Business
Jan. 05, 2023

Bitcoin Miner Marathon Digital Pays Off Silvergate Revolving Credit

Marathon Digital (MARA) fully paid off $30 million in revolver loans during December, freeing up 3,615 bitcoin (BTC) that had been pledged as collateral, according to its monthly update . The lender on the revolver was Silvergate Bank (SI), whi...
Business
Jan. 05, 2023

Crypto Lender Vauld Seeks to End Nexo's Purchase Agreement After Rejecting Revised Offer

Cryptocurrency lender Vauld rejected Nexo's revised acquisition proposal and is seeking to terminate the negotiation between the two firms, saying the deal "would not be in the best interests" of its creditors. "We have sought a mutual agreement...
Business
Jan. 05, 2023

Crypto Layoffs: Here's the Grim Count Since April

The unrelenting crypto winter has continued to hit all corners of the industry, forcing some of the biggest companies in the sector to curb their growth ambitions. As these crypto firms try to stay afloat, CoinDesk has compiled a list of industr...
Business
Jan. 05, 2023

Crypto Infrastructure Firm Securrency Hires State Street's Nadine Chakar as CEO

Institutional cryptocurrency infrastructure firm Securrency has hired asset management giant State Street's head of digital Nadine Chakar as its new CEO. She replaces Securrency's founder Dan Doney, who will continue to serve as the company's ch...
Business
Jan. 05, 2023

Telegram-Related TON Foundation Enters Crypto Storage Market

TON Foundation, the proof-of-stake blockchain conceived by Telegram Messenger founders, is starting a data storage ecosystem called TON Storage. The project aims to enable users to exchange files of any size while providing financial incentives ...
Business
Jan. 05, 2023

Cowen Downgrades Coinbase Stock Citing Trading Volume Declines

Cryptocurrency exchange Coinbase (COIN) stock has been downgraded by analysts of Cowen (COWN), citing the lack of clarity on trading volume recovery after the FTX collapse. Cowen downgraded COIN to perform in line with the market, as opposed to ...
Business
Jan. 05, 2023

Silvergate Cuts 40% Jobs, Writes Off Diem Asset Acquisition

Silvergate Capital (SI), the crypto-focussed bank, has cut 40% of its total staff or about 200 employees, the firm said on Thursday. The bank has also halted its plans to launch a digital currency and has written off the $196 million related t...
Business
Jan. 05, 2023

Crypto Bank Juno Tells Customers to Self-Custody or Sell Amid Custodian Wyre's Turmoil

Crypto banking firm Juno has advised its customers to self-custody their digital assets or sell them for cash as it works to migrate client funds to a new custodian, according to a tweet Wednesday morning. The decision comes as Juno's current ...
Business
Jan. 04, 2023

Fanatics Selling Its 60% Stake in Sports NFT Firm Candy Digital: Report

Sports apparel and memorabilia firm Fanatics is selling its 60% stake in sports-focused NFT company Candy Digital to a group led by Galaxy Digital, according to a report from CNBC , citing an internal email obtained by the network. Terms of the...
Business
Jan. 04, 2023

Sam Bankman-Fried Faces ‘Tough Road,’ Legal Expert Says

Things are looking grim for former FTX CEO Sam Bankman-Fried, according to white collar crime specialist Mark A. Kasten, a partner at law firm Buchanan Ingersoll & Rooney PC Counsel. Kasten told CoinDesk TV’s “ All About Bitcoin ” on Tuesday...
Business
Jan. 04, 2023

Ethereum Builder ConsenSys and AMD SPAC Plows on Despite 95% of Shares Being Redeemed

W3BCLOUD, a joint venture between chip maker Advanced Micro Devices (AMD) and Ethereum builder ConsenSys, says it will plow on with plans to go public, despite investors opting to redeem 95% of the shares in the deal with blank check company Soci...
Business
Jan. 04, 2023

Genesis CEO Says Solution Requires More Time

"While we are committed to moving as quickly as possible, this is a very complex process that will take some additional time," said Genesis Interim CEO Derar Islim. "We remain focused on finding a solution for our borrowing and lending intermedi...
Business
Jan. 04, 2023

NFT Research Tool NFT Inspect Is Shutting Down

NFT Inspect, a popular research tool to measure the value of an NFT and the strength of its community, is turning off its virtual lights on Jan. 17, according to a tweet by the project. 1/ We have some sad news.  While we’ve loved building alo...
Business
Jan. 04, 2023

Core Scientific to Shut Down Celsius Crypto Mining Equipment

Bitcoin miner Core Scientific (CORZ) will shut down mining rigs tied to Celsius Mining, Core's largest client with over 37,000 machines, after moving to reject its contract in recent days. Both companies are undergoing Chapter 11 bankruptcies: ...
Business
Jan. 03, 2023

Solana Exec Says Platform Still Gaining New Users Despite FTX's Collapse

The washout of crypto exchange FTX hasn't kept the Solana network from attracting users and developers, according to Austin Federa, head of strategy and communications at the Solana Foundation. Federa told CoinDesk TV’s “ First Mover ” Tuesday...
Business
Jan. 03, 2023

Bitcoin Miner Stronghold Continues Debt Restructuring With Convertible Preferred Share Issuance

Stronghold Digital Mining (SDIG) has agreed with noteholders to exchange $17.9 million of convertible debt for $23.1 million of convertible preferred stock, according to a Tuesday morning statement . Among many bitcoin miners that have found th...
Business
Jan. 03, 2023

Ex-Bithumb Chairman Acquitted in South Korea $100M Crypto Exchange Fraud Trial: Report

The former chairman of Bithumb Holdings, the parent company of crypto exchange Bithumb Korea, was acquitted of 130 billion-won ($100 million) fraud charges on the grounds that the crime could not be proven, CoinDesk Korea reported Tuesday. Lee...
Business
Jan. 03, 2023

Heatbit Is the First Space Heater That Mines Bitcoin, Founder Says

‘Tis the season to be freezing, but in the cold, dark winter, Heatbit says its innovative space heaters can warm a room the size of a small studio apartment while mining enough bitcoin to offset at least a portion of a homeowner's monthly electri...
Business
Jan. 03, 2023

Bernstein Says Crypto Exchange Binance Is Not Likely to Fail

Binance is solvent, liquid and stable and this is evident in the exchange’s more than $55 billion in verifiable cold wallet addresses, Bernstein said in a research report Monday. The crypto exchange can also “pass the test of withdrawals” as it ...
Business
Jan. 03, 2023

Zodia Custody Appoints Crypto Exchange Bitstamp’s Julian Sawyer as Chief Executive Officer

Cryptocurrency asset service provider Zodia Custody appointed Julian Sawyer as new CEO, the company said in a statement Tuesday. He replaces Maxime de Guillebon, who has been in post since the company was founded in December 2020. Sawyer joins f...
Business
Jan. 03, 2023

2022 Crypto Attacks Were Least in December, With $62M Lost in Heists, Certik Says

Crypto market participants had few reasons to cheer in the last month of 2022 – with a low attack and theft figure among one of them. December saw $62 million worth of tokens stolen, scammed, or attacked, making it the least harmful month in 202...
Business
Jan. 03, 2023

Genesis-DCG Loan Leads to Class Action Arbitration Case from Gemini Clients

Three Gemini Earn users have filed a request for class action arbitration against Genesis Global Capital and Digital Currency Group in response to Gemini suspending its Earn redemption program due to Genesis freezing withdrawals. DCG is also the...
Business
Jan. 02, 2023

Gemini Co-Founder Accuses DCG’s Silbert of 'Bad Faith' Stalling in $900M Locked Funds Dispute

The co-founder of crypto exchange Gemini has accused Digital Currency Group CEO Barry Silbert of “bad faith stall tactics” as their respective companies lock horns over a business disagreement precipitated by FTX’s multi-billion-dollar implosion ...
Business
Dec. 30, 2022

Crypto Asset Manager Valkyrie Investments Wants to Sponsor, Manage Grayscale Bitcoin Trust

Crypto asset manager Valkyrie Investments wants to become the sponsor and manager of the Grayscale Bitcoin Trust (GBTC), the company said in a blog post this week. Valkyrie, one of Grayscale’s rivals, previously launched a bitcoin trust and a ...
Business
Dec. 30, 2022

Bitcoin Miners Got Crushed by Crypto Winter. 2023 May Bring More Pain

The mining industry started 2022 off strong with what seemed like ample capital to expand, but high energy prices, increasing competition for Bitcoin blocks and a bear market hit miners, knocking out those with high leverage. The sector was shak...
Business
Dec. 30, 2022

BlackRock Gives Bankrupt Bitcoin Miner Core Scientific a New $17M Loan

Investment giant BlackRock (BLK) has committed $17 million to bankrupt bitcoin miner Core Scientific (CORZ), which is part of a new $75 million loan from the miner's secured convertible note holders, according to a U.S. Securities and Exchange C...
Business
Dec. 30, 2022

Ya pasó un año desde el boom de los NFTs, pero ¿adónde apuntan ahora?

Los tokens no fungibles ( NFT , por sus siglas en inglés) tuvieron su auge en 2021 gracias a la suba de precios de las criptomonedas que impulsaron a los nuevos traders a explorar el espacio. Las elevadas ventas de NFT, como “ Beeple’s Everyday...
Business
Dec. 30, 2022

Defrost Finance Denies Rug Pull Allegations Amid $12M Exploit

The team behind Defrost Finance, an Avalanche-based DeFi protocol, has pushed back on claims that they ‘rug-pulled’ the project after $12 million was siphoned out of the smart contract last week. Blockchain security company DeFiYieldSec this wee...
Business
Dec. 30, 2022

FTX Japan to Allow Customers to Withdraw Funds Starting in Mid-February

FTX Japan customers will be able to withdraw their funds as of mid-February , the subsidiary of FTX Trading said in a blog post on Thursday , making them some of the first customers of the collapsed crypto exchange to get their money back. FTX ...
Business
Dec. 30, 2022

Regulators in the Bahamas Are Holding $3.5 Billion in FTX Customer Assets

The Bahamian Securities Commission has taken custody of FTX deposits valued at more than $3.5 billion as of Nov. 12, according to a media release published late Thursday by the BSC. Shortly after FTX filed for bankruptcy, about $372 million wo...
Business
Dec. 29, 2022

FBI Investigating 3Commas Data Breach

The FBI is investigating the 3Commas data breach , CoinDesk has learned. The investigation comes after weeks of criticism from users of the Estonia-based crypto trading service, who say its CEO repeatedly brushed off warning signs that the pla...
Business
Dec. 29, 2022

DeFi Platforms Need to Beef Up Security, Former Prosecutor Says

Cracking down on crypto hacks will require hardening cyber defenses, Ari Redbord, head of legal and government affairs at crypto sleuthing firm TRM Labs, told CoinDesk TV’s “ First Mover ” on Thursday. Redbord, a former prosecutor for the Depart...
Business
Dec. 29, 2022

Bitcoin Miner Bitfarms' CEO Exits; COO Will Replace

Emiliano Grodzki, the co-founder and CEO of Canadian bitcoin miner Bitfarms (BITF), has resigned, effective immediately, according to a company statement . The company's President and COO Geoffrey Morphy has been promoted as his replacement. Th...
Business
Dec. 28, 2022

Digital Dollar Will Come Eventually, Lobbyist Says

It’s more a question of when, rather than if, a central bank digital currency (CBDC) will be established in the U.S., Michael Greco, policy research director at the Digital Dollar Project, told CoinDesk TV’s “First Mover” on Tuesday. Greco said ...
Business
Dec. 28, 2022

FTX Users Sue for Priority Repayment and Damages in Bankruptcy Proceedings

A group of FTX users are asking a U.S. court to make sure they are the first to get repaid in the ongoing bankruptcy proceedings, court filings from Thursday show. A class action lawsuit filed with the U.S. Bankruptcy Court for the District of D...
Business
Dec. 28, 2022

Crypto Exchange Gemini Sued by Investors Over Interest-Earning Program

Crypto exchange Gemini is being sued by investors over the sale of interest-earning crypto products, court filings from Tuesday show. Investors Brendan Picha and Max J. Hastings filed a class action lawsuit on behalf of themselves and "others si...
Business
Dec. 28, 2022

Michael Saylor's MicroStrategy Adds Another 2,500 Bitcoin for Nearly $45M

Technology company MicroStrategy (MSTR) has added to its bitcoin stockpile, purchasing approximately 2,395 BTC for $42.8 million in cash between Nov. 1 and Dec. 21 through its MacroStrategy subsidiary, according to an SEC filing . On Dec. 22, t...
Business
Dec. 28, 2022

Crypto Exchange Kraken to End Japan Operations

Cryptocurrency exchange Kraken said it will exit Japan and de-register from the Financial Services Agency (JFSA) as of Jan. 31. The decision was prompted by "current market conditions in Japan in combination with a weak crypto market globally," ...
Business
Dec. 28, 2022

Bitcoin Miner Argo Will Avoid Bankruptcy With $100M Bailout from Novogratz’s Galaxy

Bitcoin miner Argo Blockchain (ARBK) will avoid filing for bankruptcy protection, after it agreed to sell its Helios mining facility in Dickens Country, Texas, to Galaxy Digital (GLXY) for $65 million. The miner will also get a new $35 million l...
Business
Dec. 27, 2022

Crypto Investment Firm Midas Shutting Down Platform Following Losses

Midas Investments, an investment firm that focused on DeFi yields, is shutting down its platform following significant losses experienced in 2022, according to a blog post from CEO and founder Iakov “Trevor” Levin . Levin wrote that this past s...
Business
Dec. 27, 2022

Pudgy Penguins NFTs Break All-Time Highs With Holiday Rally

Pudgy Penguins NFTs are on a Christmastime tear. The Ethereum-based non-fungible token (NFT) lineup has eclipsed Bored Ape Yacht Club (BAYC) and other so-called “blue chip” digital collectibles in 24-hour trading volume – its 1,200 ETH is nearly...
Business
Dec. 27, 2022

Solana DeFi Project Mercurial to Relaunch as 'Meteora,' Replace MER Token

Decentralized finance (DeFi) trading project Mercurial plans to relaunch as “Meteora,” issue a new token to nearly all MER holders and expand its trading lineup in an aggressive attempt to distance itself from Sam Bankman-Fried’s fallen empire. ...
Business
Dec. 27, 2022

Argo Blockchain Suspends Trading in US Shares for 24 Hours

Argo Blockchain, a crypto miner whose shares trade on the London Stock Exchange (ARB) and Nasdaq (ARBK), said it requested a 24-hour suspension of U.S. trading. U.K. markets are closed Tuesday. The London-based company, which has been in talks t...
Business
Dec. 27, 2022

Crypto Lender Nexo Canvasses Vauld Creditors Directly With Final Takeover Offer

Crypto lender Nexo sent an open letter to creditors of Singapore-based rival Vauld, which it’s seeking to buy after the latter said it had suspended all withdrawals , trading and deposits on its platform, filed for creditor protection and was lo...
Business
Dec. 26, 2022

Defrost Finance Says Hacked Funds Have Been Returned

Defrost Finance, which on Sunday said its V1 and V2 products had been exploited , said the hacker in the larger V1 attack has returned the funds. "We will soon start scanning the data on-chain to find out who owned what prior to the hack in ord...
Business
Dec. 26, 2022

Crypto Lender Nexo's Potential Acquisition of Rival Vauld Is Called Off

Crypto lender Nexo’s potential acquisition of rival Vauld was canceled some five months after the two signed an initial agreement to explore the transaction and less than a month before the Singapore-based target has to come up with a restructu...
Business
Dec. 26, 2022

Bitcoin Miners Powered Off as Winter Storm Battered North America

Miners across the U.S. powered down over the weekend as a powerful storm swept across North America. The Bitcoin mining hashrate, a measure of computing power on the blockchain, dropped about 100 exahash per second (EH/s), or 40%, to 156 EH/s, b...
Business
Dec. 25, 2022

Defrost Finance Hacked in Attack Some Say May Have Been a Rug Pull

Decentralized finance protocol Defrost Finance said it was hacked Dec. 23, though blockchain security firm Peckshield, citing “community intel,” said the exploit may have been a rug pull that made off with $12 million. In a tweet thread posted...
Business
Dec. 25, 2022

Five Crypto Things That Riled Me Up in 2022

Enclosed are just five of the crypto-related things that got under my skin in 2022. There were far more than five, but obvious things like “the market went down” are not included because they’re not fun to write about. You’re reading Cryp...
Business
Dec. 23, 2022

Blockware Customer Accuses Bitcoin Mining Firm of Fraud

Bitcoin mining equipment and hosting provider Blockware Solutions was accused by a customer in a lawsuit of breach of contract, negligence, deceptive trade practices and fraud. The case, filed in U.S. federal court in the Northern District of Il...
Business
Dec. 23, 2022

Crypto Funding Plunged in 2022, but VC Head Sees Areas of Opportunity for 2023

Venture capital investments in blockchain startups soared to a record $25.2 billion in 2021 , driven by bullish optimism and financing surges for non-fungible tokens (NFTs) and decentralized finance (DeFi) projects. In 2022, funding slowed drama...
Business
Dec. 23, 2022

Authorities in Italy, Albania Bust $16M Suspected Crypto Investment Scam

Law enforcement authorities in Italy and Albania busted a suspected cryptocurrency investment scam estimated to have netted 15 million euros ($16 million). Assets worth 3 million euros were seized during the action by a joint investigation team,...
Business
Dec. 23, 2022

OKX Unveils 2nd Proof-of-Reserves Report, Promises Monthly Publication

Cryptocurrency exchange OKX published a second proof of reserves (PoR) report, adding features that allow users to verify that the second-largest platform by trading volume has sufficient assets to handle customer withdrawals. The report, releas...
Business
Dec. 22, 2022

FTX Asks Judge for Help in Fight Over Robinhood Shares Worth About $450M

FTX sought a U.S. bankruptcy court's help amid a battle over ownership of about $450 million worth of stock in Robinhood Markets (HOOD), according to a filing Thursday . At issue are about 56 million shares of the brokerage owned by Emergent Fi...
Business
Dec. 22, 2022

Bitcoin Protocol Development Steadily Progressing Despite Only 40-60 Monthly Active Developers: NYDIG

In a world where giants of the conventional financial system like Visa, Mastercard and PayPal employ tens of thousands of employees, Bitcoin continues to be run by a tight ship of just a few dozen active developers. New York Digital Investment G...
Business
Dec. 22, 2022

Peter Thiel-Backed Crypto Exchange Bullish Calls Off SPAC Deal

"Our quest to become a public company is taking longer than expected, but we respect the SEC’s ongoing work to lay new digital asset frameworks and clarify industry-specific disclosure and accounting complexities," said Bullish Chairman and CEO B...
Business
Dec. 22, 2022

Tron’s Justin Sun Was Secret Top Client of Crypto Asset Manager Valkyrie

Tron founder Justin Sun is one of the richest figures in crypto, and a good chunk of his bitcoin (BTC) is stored in one place: U.S.-based Valkyrie Investments. The altcoin kingpin had more than $580 million of BTC stashed with the crypto asset m...
Business
Dec. 22, 2022

Europe’s Last Bitcoin Mining Refuge Is No Longer Viable

Bitcoin miners operating in northern Norway and Sweden, where they sought refuge from sky-high electricity prices earlier this year, are powering down for the winter as energy tariffs surge. Just a few months ago, European miners flocked to the ...
Business
Dec. 22, 2022

FTX Creditors Hire Law Firm Paul Hastings as Representation

Paul Hastings LLP has been tapped to represent FTX creditors in the crypto exchange's bankruptcy proceedings, the law firm told CoinDesk on Thursday. A nine-member committee chose Paul Hastings from among a number of firms that pitched for the r...
Business
Dec. 22, 2022

Twitter Adds Crypto, Stock Prices in Search Results

Social media platform Twitter has integrated cryptocurrency prices into search results using a plug-in from charting platform TradingView . The integration allows users to type crypto or stock tickers into the search bar to generate the current ...
Business
Dec. 22, 2022

FTX's Blockfolio Stake Was Paid for Mostly in FTT: Bloomberg

Bankrupt cryptocurrency exchange FTX used its own token, FTT, to fund the $84 million purchase of a majority stake in trading platform Blockfolio in 2020, Bloomberg reported Thursday . Around 94% of the amount was in the token invented by FTX, ...
Business
Dec. 22, 2022

Caroline Ellison Plea Agreement: $250,000 Bail, Surrender of Travel Documents, Forfeiture of Assets

Former Alameda Research CEO Caroline Ellison will not be allowed to leave the continental United States, and must to forfeit any proceeds derived from the commission of the offenses she has been charged with, according to a recently unsealed p...
Business
Dec. 22, 2022

SEC Calls FTT Exchange Token a Security

FTX's exchange token FTT was sold as an investment contract, and is a "security," the U.S. Securities and Exchange Commission said in a complaint filed late Wednesday , in a move that is sure to have a wide-ranging impact on the industry. "If d...
Business
Dec. 21, 2022

Inside Core Scientific’s Prearranged Bankruptcy

The situation is “much closer to Hertz and Ford and Delta than FTX,” Core Scientific (CORZ) Chief Mining Officer Russell Cann told CoinDesk, explaining that he expects the company will emerge stronger from the reorganization process. Operating i...
Business
Dec. 21, 2022

Sam Bankman-Fried to be Extradited to the U.S.

Sam Bankman-Fried's days in the Bahamas are numbered. The disgraced former CEO of the Bahamas-based crypto exchange FTX, which collapsed last month, was arrested at his apartment in the country's capital last week and initially fought extraditio...
Business
Dec. 21, 2022

DeFi Protocol Ankr Says Ex-Employee Caused $5M Exploit

A former employee of decentralized finance (DeFi) protocol Ankr maliciously caused a $5 million exploit earlier this month, according to a statement published on Ankr's website . The ex-employee inserted a malicious code package to conduct a su...
Business
Dec. 21, 2022

Waves Blockchain Founder Asks Exchanges to Delist WAVES Token Derivative Trading

Sasha Ivanov, the founder of decentralized blockchain Waves, has asked crypto exchanges to deactivate futures markets tied to its native WAVES token. "Waves does not need waves futures markets." Ivanov wrote on Twitter . "They are a breeding gr...
Business
Dec. 21, 2022

Peer-to-Peer Crypto Marketplace Paxful Removes ETH From Platform

"Revenue is nice, but integrity trumps all," said Ray Youssef, announcing ether's ( ETH ) removal from the marketplace he founded and runs. Among the reasons for the move noted by Youssef was the Ethereum network's switch to proof-of-stake valid...
Business
Dec. 21, 2022

Joel Krueger: A Clarification

On Oct. 27, 2022, CoinDesk published an article titled "Embattled Crypto Platform Freeway's 'Billion-Dollar Man' Isn't the Insurance Titan He Claims to Be." Following information received after publication in relation to Krueger's roles at Aon an...
Business
Dec. 21, 2022

Australian Crypto Exchange Swyftx, Share Trading Platform Superhero Abandon Merger Plan

Australian crypto exchange Swyftx and share trading and superannuation platform Superhero canceled their planned merger, saying the decision was reached after the government turned up the regulatory heat on the crypto industry. The plan was anno...
Business
Dec. 21, 2022

Core Scientific, One of the Largest Bitcoin Miners, Files for Bankruptcy Protection

Core Scientific (CORZ), one of the largest bitcoin miners by computing power, filed for bankruptcy as the crypto winter continues to take its toll on the industry. The company filed for Chapter 11 at Southern District of Texas bankruptcy court. ...
Business
Dec. 21, 2022

Encrypted Messaging Protocol Mask Network Acquires Mastodon Server Pawoo.net

Social Coop Limited, an entity affiliated with Mask Network, a protocol that allows users to send encrypted messages and cryptocurrency transfers across social media, has acquired Pawoo.net , one of the largest instances/servers on social media ...
Business
Dec. 21, 2022

Core Scientific to File for Bankruptcy, Continue Mining Through Process: Report

Core Scientific , one of the industry's largest bitcoin miners, plans to file for bankruptcy Wednesday morning in Texas, according to a report by CNBC , but will continue to mine bitcoin throughout the process. While many mining companies have...
Business
Dec. 21, 2022

Gemini Creditor Committee Presents Plan to Resolve Liquidity Issues

A creditor committee, which includes Gemini, has presented a plan to Genesis and Digital Currency Group to “provide a path for the recovery of assets”, Gemini co-founder Cameron Winklevoss said in a tweet . In February 2021, at the height of th...
Business
Dec. 21, 2022

Sam Bankman-Fried Reportedly Set for Extradition to the U.S.

Former CEO of bankrupt crypto exchange FTX, Sam Bankman-Fried has signed the necessary paperwork to begin the extradition process, reports the New York Post , citing Doan Cleare, the acting commissioner of corrections at Fox Hill Prison in The B...
Business
Dec. 20, 2022

Sam Bankman-Fried Reportedly Set for Extradition to the U.S.

Former CEO of bankrupt crypto exchange FTX, Sam Bankman-Fried has signed the necessary paperwork to begin the extradition process, reports the New York Post , citing Doan Cleare, the acting commissioner of corrections at Fox Hill Prison in The B...
Business
Dec. 20, 2022

Polygon Founder Unveils Web3 Accelerator Beacon

Noted venture capital firm Andreessen Horowitz (a16z) has a price-innovation cycle thesis that essentially says that crypto bull markets attract buyers, while bear markets make room for developer innovation that increases optimism – and eventua...
Business
Dec. 20, 2022

Bitcoin Miner Greenidge Reaches Debt Restructuring Deal With NYDIG as Bankruptcy Looms

Bitcoin mining firm Greenidge Generation (GREE) came to an agreement with its lender NYDIG about restructuring $74.7 million of debt, though a bankruptcy is still on the cards. Cash burn is unsustainable and the firm's board is engaged "in activ...
Business
Dec. 20, 2022

FTX Will Look to Retrieve Voluntary Payments From Third Parties, Possibly Including SBF's Political Donations

Bankrupt crypto exchange FTX will attempt to recoup voluntary payments made to third parties prior to its collapse, pursuing them in court if necessary. These payments may include founder and former CEO Sam Bankman-Fried's political donations in...
Business
Dec. 19, 2022

FTX’s Bankman-Fried Gave Ex-Jane Street Traders Who Formed Modulo Capital $400M

When a spreadsheet listing Sam Bankman-Fried’s venture investments was published by the Financial Times earlier this month, a couple lines stood out. They showed the former cryptocurrency kingmaker’s hedge fund Alameda Research had invested a t...
Business
Dec. 19, 2022

Sam Bankman-Fried's Bahamas Court Appearance Adds to Confusion

Counsel for Sam Bankman-Fried appeared blindsided by Sam Bankman-Fried's decision to appear in a Bahamas court today. Weekend reports suggested Bankman-Fried had changed his mind and was not going to challenge extradition to the U.S., where he...
Business
Dec. 19, 2022

FTX Collapse Is ‘Golden Opportunity’ for Developers, Says Tezos Co-Founder

Tezos’ Kathleen Breitman sees the collapse of FTX bringing down to Earth expectations for crypto-based platforms. The blockchain protocol platform co-founder and CEO contends this will make room for hiring more developers within the ecosystem. ...
Business
Dec. 19, 2022

Binance Losing Auditing Partner Mazars Leaves Crypto Questions Unanswered

In the aftermath of cryptocurrency exchange FTX’s collapse last month, questions have swirled throughout the industry about whether other large players’ finances can be trusted. With professional auditors now abruptly exiting the space, those que...
Business
Dec. 19, 2022

Crypto Trading Protocol Drift Relaunches Into Rocky Solana DeFi Landscape

As Solana decentralized finance (DeFi) staggers through the rubble of FTX, a long-absent player of its crypto derivatives trading scene is ready to take the stage once again. Drift, a Solana-based perpetual swaps trading protocol that handled bi...
Business
Dec. 19, 2022

Crypto Custody Tech Provider Fireblocks Receives First-of-Its-Kind Security Certificate

Fireblocks has received the Cryptocurrency Security Standard (CCSS), a first-of-its-kind certification that was built as a security standard for crypto wallets and custody. Focusing on storage and usage within an organization and augmenting stan...
Business
Dec. 19, 2022

Polychain Leads $7M Funding for Hardware Wallet Developer Foundation Devices

Foundation Devices, a developer of Bitcoin-centric tools that include a hardware wallet, has raised $7 million in a seed round led by crypto-focused investment firm Polychain Capital. The announcement comes during a surge of interest in hardware...
Business
Dec. 19, 2022

Binance.US Agrees to Buy Voyager's Assets for $1.02B

Voyager Digital, the bankrupt crypto lender, said Binance.US has agreed to buy its assets for $1.022 billion, the firm said on Monday. The bid represents the fair market value of Voyager's cryptocurrency portfolio, which has a current market...
Business
Dec. 19, 2022

Binance Finalizes Acquisition of Indonesian Crypto Trading Firm Tokocrypto

Binance has finalized its acquisition of Tokocrypto, according to a press release sent to CoinDesk Indonesia. “Tokocrypto came from our brainchild more than four years ago. I am very proud to see every growth, slogan, and contribution the compan...
Business
Dec. 19, 2022

Grayscale Will Explore Returning 20% of Investor Capital if SEC Refuses Spot Bitcoin ETF: Report

Grayscale Investments is exploring options to return a portion of capital of its flagship Grayscale Bitcoin (GBTC) product if the Securities and Exchange Commission (SEC) refuses to approve its spot bitcoin exchange-traded fund (ETF), the Wall S...
Business
Dec. 19, 2022

Former BitMEX CEO Alexander Hoeptner Sues Exchange for Breach of Contract and Wrongful Termination

Former BitMEX CEO Alexander Hoeptner has sued the cryptocurrency derivatives platform for $3.4 million for breach of contract and wrongful termination, a court filing shows. Hoeptner joined the Seychelles-registered exchange in January 2021 at...
Business
Dec. 18, 2022

Warren’s Reactionary Crypto Policy vs. Dorsey’s Decentralized Social Media Gambit

Last week John J. Ray III, the new CEO of FTX who is leading the company through bankruptcy proceedings, testified before the House Financial Services Committee about the crypto exchange’s collapse. I honestly don’t think there was much to report...
Business
Dec. 16, 2022

Crypto Exchange Zipmex to Seek Creditor Support for Recovery Process: Source

Zipmex, the South Asian crypto exchange that froze withdrawals owing to a lack of liquidity during the summer, is planning to undergo a recovery process whose end goal is to fully reactivate customer withdrawals, a source familiar with the matt...
Business
Dec. 16, 2022

Solana-Based Raydium Exchange Victim of 7-figure Exploit

Solana-based decentralized exchange platform Raydium confirmed in a tweet on Friday that it had been the victim of an exploit. An exploit on Raydium is being investigated that affected liquidity pools. Details to follow as more is known ⁰Initi...
Business
Dec. 16, 2022

Three Arrows Capital Estimated Its Assets at Around $1B in July: Report

Bankrupt crypto hedge fund Three Arrows Capital (3AC) estimated its assets to be worth around $1 billion in July, The Block reported , citing a document prepared by 3AC liquidator Teneo. The document was sent to creditors Thursday and said the ...
Business
Dec. 16, 2022

Binance Proof-of-Reserves Auditor Mazars Pauses All Work for Crypto Clients

Mazars, the auditing firm working with Binance and other crypto exchanges on proof-of-reserves statements, has paused all work for crypto clients, Binance said in an emailed statement. "Mazars has indicated that they will temporarily pause their...
Business
Dec. 16, 2022

Crypto Trading Firm Amber Group Raises $300M Series C After FTX Contagion

Crypto trading firm Amber Group changed its fundraising strategy to raise a $300 million Series C round, as a reaction to the collapse of crypto exchange FTX. The round was led by Fenbushi Capital U.S., and other crypto investors and family offi...
Business
Dec. 15, 2022

Protocol Developer Archblock Aims to Bring US Community Banks to DeFi Through Partnership

Archblock, a core developer of unsecured lending protocol TrueFi, is working with Adapt3r, a subsidiary of alternative asset manager MJL Capital, to bring U.S.-regulated community banks to decentralized finance (DeFi). The two firms plan to fo...
Business
Dec. 15, 2022

Crypto.com Receives License as a Payment Institution in Brazil

This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney , one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter. Crypto.com has obtained a Payment Institution Licen...
Business
Dec. 15, 2022

Dutch Central Bank Says Crypto Exchange KuCoin Is Operating Without a License in Netherlands

The Dutch central bank has issued a warning to cryptocurrency exchange KuCoin for operating without a registration in the Netherlands, according to a statement. De Nederlandsche Bank (DNB) said that MEK Global Limited (MGL), which is registered ...
Business
Dec. 15, 2022

Web3 Infrastructure Firm Blocknative Raises $15M for Ethereum Block Building Market

Blocknative, a Web3 infrastructure company, has raised $15 million in a Series A-1 round. The funding was led by Blockchain Capital, Foundry Group, Rho, IOSG Ventures, Robot Ventures, Fenbushi Capital, HackVC, Industry Ventures and others, and t...
Business
Dec. 15, 2022

New Bitcoin and Ether Futures ETFs Launching in Hong Kong

Asset manager CSOP is launching new bitcoin and ether futures exchange-traded funds (ETFs) that will be officially listed on the Hong Kong Stock Exchange on Dec. 16, according to a press release. They will be the first listed bitcoin and ether ...
Business
Dec. 15, 2022

CryptoQuant: On-Chain Data Shows Crypto Exchange Binance Isn't Exhibiting ‘FTX-Like’ Behavior

Binance, the largest crypto exchange by volume traded, is not the next FTX, according a report from CryptoQuant. The Seoul-based analytics firm points to on-chain data to support claims made in a recent audit that Binance is overcollateralized...
Business
Dec. 15, 2022

Ethereum Name Service DAO Votes on Stewards for Three Working Groups

The Ethereum Name Service (ENS) decentralized autonomous organization (DAO) members voted to elect stewards for three working groups for the forthcoming year. Voting ended on Dec. 15 at 09:00 UTC, when DAO members elected the stewards that w...
Business
Dec. 14, 2022

Bitcoin Miner CleanSpark Cuts 2023 Hashrate Outlook by Nearly 30%

Bitcoin miner CleanSpark (CLSK), lowered its year-end 2023 hashrate or computing power guidance to 16 exahash per second (EH/s), from 22.4 EH/s previously , citing delays in building a mining facility by one of its partners, Lancium. The miner ...
Business
Dec. 14, 2022

Bitcoin Miner Core Scientific's Lender Wants to Give Miner $72M to Avoid Bankruptcy

Investment bank B Riley, one of bitcoin miner Core Scientific's (CORZ) top lenders, has proposed a new $72 million financing plan so that the struggling company can avoid bankruptcy. "In our opinion, the vast majority of Core Scientific's is...
Business
Dec. 14, 2022

PayPal Working With Crypto Wallet MetaMask to Offer Easy Way to Buy Crypto

PayPal will integrate its buy, sell and hold crypto services with MetaMask Wallet as the companies look to broaden users' options to transfer digital assets from their platforms, the companies said Wednesday. According to a press release, the pa...
Business
Dec. 14, 2022

Gaming Platform Forte Partners With Venture Studio SuperLayer to Expand Beyond Web3 Gaming

After a strong 2021 in which it passed the $1 billion valuation mark and raised $910 million across two funding rounds, blockchain gaming platform Forte is now looking to branch out to other Web3 verticals through a partnership with startup ven...
Business
Dec. 14, 2022

Citi Says Crypto Market Leverage, Open Interest Are Historically Low

The past year in the digital asset market has been characterized by a series of negative shocks, triggered initially by the collapse of Terra/LUNA , Citi (C) said in a research report Monday looking back on the year. “Leverage, volatility and i...
Business
Dec. 14, 2022

Major Japanese Utility Works With Local Hardware Maker to Capitalize on Excess Power With Crypto Mining

Tokyo Electric Power Grid (TEPCO), a major utility company in Japan, is working with local mining rig manufacturer TRIPLE-1 to capitalize on excess power on its grid. The utility has struggled to rebuild its business and reputation after, in 2...
Business
Dec. 14, 2022

Binance CEO Changpeng 'CZ' Zhao Warns Staff of Turbulent Times Ahead: Bloomberg

Binance's Chief Executive Officer Changpeng "CZ" Zhao has warned his staff to expect turbulent times ahead as the giant crypto exchange sees a wave of crypto outflows amid concerns about its financial health, Bloomberg reported, citing an inter...
Business
Dec. 13, 2022

Bankman-Fried Lawsuits Expose FTX's 'Special Treatment' of Alameda Research

Court filings against alleged crypto fraudster Sam Bankman-Fried are shedding more light on the cozy relationship that burned down his empire: the one between crypto exchange FTX and its sister hedge fund Alameda Research. “There was no meaningf...
Business
Dec. 13, 2022

Binance Launches Payments Service for US Customers

The feature has been available to Binance customers outside the U.S. since February 2021 when it was first launched . Back then, Binance founder and CEO Changpeng “CZ” Zhao said payments is one of the "most obvious use cases for crypto." Binanc...
Business
Dec. 13, 2022

Coinbase’s Prime Broker Platform Receives Industry Attestation Reports

Coinbase’s prime broker platform, Coinbase Prime, has received two System and Organization Control (SOC) attestation reports that verify that an organization follows industry best practices. Conducted by the American Institute of Certified Publi...
Business
Dec. 13, 2022

Inside Sam Bankman-Fried's First Bahamas Court Hearing After His Arrest

NASSAU, The Bahamas—Former FTX CEO Sam Bankman-Fried told a Bahamas judge on Tuesday that he was not waiving his right to fight extradition to the U.S. The former titan of industry appeared in a Nassau, Bahamas courtroom on Tuesday morning to fa...
Business
Dec. 13, 2022

With FTX’s Founder Facing Charges, New CEO Details Lack of Independence of FTX US

Despite assurances from founder Sam Bankman-Fried, the distinctions between crypto exchange FTX US and its international sibling were no more than superficial, John Ray III, the replacement CEO steering the company through bankruptcy, told lawmak...
Business
Dec. 13, 2022

$1.6B FTX International Customers Group Hires Law Firm to Create Official Bankruptcy Committee

A growing group of non-U.S. customers of FTX.com, which currently counts up to around $1.6 billion in lost funds, has lawyered up and is looking to create an official customer committee in order to protect their rights of ownership over their ass...
Business
Dec. 13, 2022

Grayscale Bitcoin Trust Discount Reaches Record 50%

Grayscale Bitcoin Trust (GBTC) shares hit a record-high discount rate relative to the price of bitcoin ( BTC ), pushing past 50% for the first time after the U.S. Securities and Exchange Commission reiterated its reasons for denying an applicat...
Business
Dec. 13, 2022

Crypto Exchange Binance Introduces Payments Service for US Customers

U.S.-based customers of Binance are now able to use the crypto exchange’s payments system, Binance Pay, to send money on their mobile app. The feature has been available to Binance clients outside the U.S. since it was first launched in Februa...
Business
Dec. 13, 2022

DeFi Infrastructure Provider Sooho.io Raises $4.5M for Bridging Blockchains

Sooho.io , a provider of decentralized finance (DeFi) services, has raised $4.5 million to help forge links between separate blockchains in its native South Korea. The Series A+ funding round was led by Woori Technology Investment, the compan...
Business
Dec. 13, 2022

Crypto Miner Iris Energy Hit by Class Action Suit

Iris Energy (IREN), the bitcoin miner that last month said some of its mining equipment isn't producing enough cash to meet its financing obligations, was hit by a class action suit. The suit was filed in the District Court for the District o...
Business
Dec. 13, 2022

Crypto Miner Hut 8 Hires Former IBM Executive as CFO

Canadian bitcoin mining firm Hut 8 (HUT) hired Shenif Visram as chief financial officer to replace Shane Downey, who leaves the company following 20 months in the role. During his 20-year career, Visram spent nearly 12 years at IBM, including sp...
Business
Dec. 13, 2022

SynFutures Says New V2 Upgrade Adds ‘Permissionless Listing’ of Futures

SynFutures, a decentralized exchange on the Polygon network, said its new V2 upgrade will allow for permissionless listing of futures trading pairs. The Singapore-based company, backed by the crypto investment firms Polychain and Dragonfly, says...
Business
Dec. 13, 2022

US Judge in Ooki DAO Trial Orders CFTC to Serve Original Founders With Lawsuit

A federal judge has ordered the Commodity Futures Trading Commission (CFTC) to serve Tom Bean and Kyle Kistner with its lawsuit against Ooki DAO. Bean and Kistner are the founders of bZeroX, a company that allowed its users to trade crypto deriv...
Business
Dec. 12, 2022

Terra Validators Grant $900K to Security Auditor SCV

Terra validators voted Monday to expand its security measures with a $900,000 grant to SCV Security. SCV will identify and monitor vulnerabilities, risks and potential threats to the second version of the protocol. The company bills itself as ...
Business
Dec. 12, 2022

Chainlink Whale ‘Oldwhite’ Used More Than 150 Wallets to Avoid Staking Limits

Chainlink’s new “ staking ” program – where participants can earn crypto rewards for helping to secure the network – was intended to be broad-based: The price-feed provider imposed a limit of 7,000 LINK tokens per wallet to “promote greater inclu...
Business
Dec. 12, 2022

Coinbase Says Law Enforcement Requests Rose 66% From Year Ago

Coinbase (COIN) said that total worldwide law enforcement and agency requests increased 66% to 12,320, according to its latest transparency report , released Monday. The report, the exchange's fourth, covers the period from Oct. 1, 2021, throug...
Business
Dec. 12, 2022

Bitcoin Miner Argo Blockchain Says It's Close to Restructuring Without Having to Declare Bankruptcy

Bitcoin mining firm Argo Blockchain (ARBK) is in advanced negotiations to sell some of its assets and carry out an equipment financing transaction to strengthen its balance sheet and improve its liquidity, the company said in a filing with the L...
Business
Dec. 12, 2022

Bermuda Digital Bank Jewel Issues ‘Fully-Backed’ Stablecoin

Bermuda-based Jewel Bank said Monday it is issuing a fully backed stablecoin called Jewel USD (JUSD) that can be accessed through the Polygon network. In a press release, Jewel said JUSD will maintain a reserve ratio with a minimum of 1:1 with t...
Business
Dec. 12, 2022

Bitcoin Group Agrees to Buy German Bank Bankhaus von der Heydt for $15M

Bitcoin Group SE said it agreed to buy all of Germany’s Bankhaus von der Heydt for 14 million euros ($15 million). The acquisition will give the company control of the one of the world's oldest banks and a holder of a full banking license in ...
Business
Dec. 12, 2022

Bitcoin Mining Firm TeraWulf Raises $10M in New Capital to Repay Some of Its Debts

Bitcoin miner TeraWulf (WULF) has raised around $10 million of new capital to repay certain debts while also agreeing to purchase 8,200 new miners from Bitmain, the firm announced Monday . TeraWulf raised $10 million via a $6.7 million register...
Business
Dec. 12, 2022

Crypto Insurance Firm Evertas Bucks Bear Market With $14M Raise

Evertas, the cryptocurrency insurance firm that received a nod from Lloyd’s of London earlier this year , has raised a $14 million funding, underlining the need for assurances within the turbulent, unpredictable digital asset space. The $14 mil...
Business
Dec. 12, 2022

US Prosecutors Look to Charge Binance and CZ for Possible Money Laundering Violations: Reuters

U.S prosecutors are considering charging crypto exchange Binance and its executives for possible money laundering and sanctions violations, Reuters reported, citing sources. The Department of Justice has also discussed possible plea deals with...
Business
Dec. 12, 2022

Ark Invest Adds Coinbase Stock as Crypto Exchange's Price Slides

Cathie Wood's Ark Investment Management said in an e-mail it bought 78,982 shares in cryptocurrency exchange Coinbase (COIN), its first investment in the crypto exchange in a month . At Friday's closing price of $40.24 , the purchase would ha...
Business
Dec. 11, 2022

Goldman Sachs Is Trying to Make Blockchain Bonds Happen

This week, David Solomon ( DJ D-Sol if we’re using stage names ), chairman and CEO of investment bank Goldman Sachs, proved he’s stuck in the past with a Wall Street Journal opinion piece he penned titled: “ Blockchain Is Much More Than Crypto .”...
Business
Dec. 09, 2022

Shares of Bitcoin Miner Argo Blockchain Suspended in UK and US

Trading in shares of London-based Argo Blockchain (ARBK) was suspended in the U.K. and U.S. on Friday. The exact reason for the suspension was not disclosed, but it typically is due to the pending release of news. At the end of October, Argo sai...
Business
Dec. 09, 2022

Symbiont.io, Which Tried to Bring Blockchain to Traditional Finance, Files for Chapter 11

Symbiont.io, which almost a decade ago joined the rush of startups trying to bring crypto's underlying blockchain technology into conventional finance, filed for Chapter 11 bankruptcy protection on Dec. 1. The New York-based company said its a...
Business
Dec. 09, 2022

Binance Suspends Account of Customer for Being ‘Unreasonable’

Binance has closed the account of a customer who criticized the world’s largest crypto exchange and its CEO Changpeng Zhao (“CZ”) on Twitter for allegedly getting exploited on the exchange, giving them three days to withdraw their funds. The cus...
Business
Dec. 09, 2022

Sam Bankman-Fried’s Alameda Research Secretly Funded Crypto Media Site The Block

Crypto media site The Block was secretly funded over the last two years by Sam Bankman-Fried’s Alameda Research, The Block confirmed on Friday. The Block’s CEO Michael McCaffrey immediately resigned after the loans came to light, and will also...
Business
Dec. 09, 2022

Uniswap Foundation Proposes Changes to Crypto DEX's Governance, Voting Processes

The Uniswap Foundation is putting to vote a series of governance changes that it said would streamline voting in the so-called "decentralized autonomous organization" that manages Uniswap, one of the most popular venues for decentralized crypto t...
Business
Dec. 09, 2022

FalconX Discloses Assets Locked on FTX

Crypto trading firm FalconX said Thursday it has a portion of its assets locked on bankrupt crypto exchange FTX. "FalconX balances locked on FTX represented 18% of our unencumbered cash equivalents. This ratio was within our counterparty exposur...
Business
Dec. 09, 2022

Crypto.com Releases Proof-of-Reserves Data Showing Client Assets Are Fully Backed

Crypto.com released proof-of-reserves data from auditing firm Mazars Group that showed its clients' assets are fully backed one-to-one, according to a statement Friday. This is a developing story and will be updated.
Business
Dec. 09, 2022

Sam Bankman-Fried, CZ Battle It Out on Twitter Over Binance's Aborted FTX Buyout

Former FTX CEO Sam Bankman-Fried is embroiled in a war of words with Binance CEO Changpeng 'CZ' Zhao on social media, with the pair squabbling over a botched acquisition last month. "You won, there's no need to lie" Bankman-Fried remarked on Tw...
Business
Dec. 09, 2022

Mizuho Downgrades Crypto Exchange Coinbase to ‘Underperform,’ Cuts Price Target to $30

Interest income from Circle’s USD Coin (USDC) has become increasingly important for crypto exchange Coinbase (COIN), accounting for 10%-15% of third quarter revenue, amid deteriorating sentiment and trading volumes, Mizuho said in a research repo...
Business
Dec. 09, 2022

Bernstein Says Saving Grayscale Will Come at a Cost for Digital Currency Group

Genesis’ extended withdrawal freeze – the lender has told its creditors it will take weeks rather than days to find a solution – continues to weigh on crypto markets, Bernstein said in a research report Thursday. Parent company DCG owes Genesi...
Business
Dec. 09, 2022

Crypto Trading Firm Amber Group Ditches $25M Chelsea Sponsorship Deal Amid Layoffs: Report

Singapore-based cryptocurrency trading firm Amber Group is terminating a $25 million sponsorship deal with football club Chelsea FC, according to a Bloomberg report , citing a source. Amber Group, which is backed by Temasek and Sequoia Capital,...
Business
Dec. 09, 2022

Crypto Exchange Coinbase Asks Users to Switch USDT for USDC

Coinbase is waiving the conversion fees for users that wish to switch to a "trusted stablecoin" in a new campaign that highlights the quality of reserves that back Circle-owned USD Coin (USDC). "The events of the past few weeks have put some sta...
Business
Dec. 08, 2022

Chainlink’s First Staking Pool Pulls in $170M of LINK Tokens, Hitting Community Limit After 2 Days

Chainlink, a provider of price feeds and other data for blockchains, had its first-ever staking pool draw in 24.27 million tokens worth some $170 million, with community allotment filling up in two days. The new staking effort is designed to h...
Business
Dec. 08, 2022

Crypto Hedge Fund BKCoin Fired Co-Founder Kang Over Misappropriated Investor Funds

Crypto hedge fund BKCoin fired co-founder Kevin Kang in October for allegedly misappropriating $12 million in assets from three multi-strategy funds , according to filings with a Florida district court. The court documents date back to Oct. 28 b...
Business
Dec. 08, 2022

Hedge Fund Presidio Trading to Spin Out Crypto Market Tail Risk Strategy

Presidio Trading, a quantitative hedge fund focused on trading digital assets, plans to separate its crypto tail risk strategy into a standalone fund, the company said. The decision follows the strategy’s strong performance this year, the firm s...
Business
Dec. 08, 2022

FTX Bankruptcy Managers Hire Forensic Investigators AlixPartners: WSJ

The new management at bankrupt cryptocurrency exchange FTX has hired forensic investigators from consultancy AlixPartners to trace billions of dollars that have gone missing, the Wall Street Journal reported . The AlixPartners team will be led ...
Business
Dec. 08, 2022

South Korean Court Denies Injunction Against Crypto Exchanges for Delisting Metaverse Token Wemix: Report

A court in Seoul, South Korea denied a request for an injunction filed by metaverse project Wemade after its Wemix token was delisted from four South Korean crypto exchanges, according to a Yonhap report . In November, Upbit, Bithumb, Coinone a...
Business
Dec. 08, 2022

Centralized Crypto Exchange Bybit Integrates Decentralized Exchange ApeX Pro Onto Platform

Dubai-based centralized crypto exchange Bybit has integrated decentralized exchange ApeX Pro into its offering in an effort to give customers the opportunity to trade on both types of exchanges on one platform, Bybit announced Thursday. ApeX Pro...
Business
Dec. 08, 2022

PayPal Expands Crypto Service Into Luxembourg

PayPal will expand its crypto service to Luxembourg "in coming days," the payments company said Wednesday , in what may be its first foray into the European Union. Luxembourg, which hosts PayPal's EU headquarters, could serve as a gateway for...
Business
Dec. 08, 2022

Crypto Lender Celsius' Bankruptcy Judge Orders It to Return $50M of Crypto to Custody Account Holders: Bloomberg

A U.S. bankruptcy judge involved in the Celsius Networks bankruptcy case ordered the crypto lender to return crypto worth $50 million to users of custody accounts, Bloomberg News reported on Thursday. Celsius, about a month after its bankrupt...
Business
Dec. 07, 2022

Canada’s Largest Pension Fund Stops Exploring Crypto Investment: Reuters

Having managed to sidestep the crypto investments that burned two other major Canadian pension funds, CPP Investment (CPPI) is no longer pursuing opportunities in that sector, reports Reuters. Though declining to comment on the specific reasons,...
Business
Dec. 07, 2022

Coinbase CEO Armstrong Confirms Street Expectations for a 50%-Plus Decline in Revenue in 2022

Coinbase Global Inc. (COIN) CEO Brian Armstong said the company’s revenue will be half or less what it was last year as the crypto exchange struggles amid stark price drops in cryptocurrency prices and continuing ripple effects from multiple bank...
Business
Dec. 07, 2022

Genesis Client Letter Suggests No Imminent Solution to Withdrawal Freeze

In a letter to customers on Wednesday morning, Genesis interim CEO Derar Islim said resolution of his company’s lending unit’s withdrawal freeze is likely to be a matter of “weeks” rather than days. The lending arm of Genesis in November was fo...
Business
Dec. 07, 2022

Crypto Bank Signature Suffers Another Analyst Downgrade, Shares Fall

Signature Bank (SBNY) shares were downgraded to market perform from strong buy at Wall Street firm Raymond James on Wednesday after the company said it was diversifying its business model away from cryptocurrencies. The shares fell over 2% to $1...
Business
Dec. 07, 2022

DeFi Protocol Perennial Launches with $12M Fundraise

Perennial, a decentralized finance (DeFi)-native derivatives protocol, has gone live with a $12 million seed funding round led by Polychain Capital and Variant. The capital raise happened earlier this year, but the recent collapse of centralized...
Business
Dec. 07, 2022

Binance's Bitcoin Reserves Are Overcollateralized, Says Audit

Binance, the world’s largest crypto exchange by trading volume, released a new audit on Wednesday from global financial audit, tax and advisory firm Mazars showing that Binance's customer bitcoin reserves are overcollateralized. "At the time of ...
Business
Dec. 07, 2022

Crypto Exchange Binance.US Eliminates Trading Fees for Ether

Binance.US is getting rid of trading fees for ether (ETH), the company announced on Tuesday, expanding its zero-free program beyond just bitcoin (BTC). Free trading will apply to the following spot market pairs: ETH/USD, ETH/USDT, ETH/USDC and ET...
Business
Dec. 07, 2022

Attacker Targets Wealthy Crypto Funds Using Telegram Chats

In the latest type of crypto-focused attacks, an attacker known as DEV-0139 has targeted wealthy cryptocurrency funds through the use of Telegram group chats, Microsoft's Security Intelligence team said in a report on Wednesday. Fees levied by...
Business
Dec. 07, 2022

Zodia Custody Introduces Service to Protect Against Crypto Exchange Insolvency

Cryptocurrency storage provider Zodia Custody has rolled out a new service designed to protect clients' digital assets from insolvency of crypto exchanges. The custodian, backed by Standard Chartered and Northern Trust, will allow clients to kee...
Business
Dec. 07, 2022

Binance Generates 90% of Revenue From Transaction Fees, Changpeng Zhao Says

Cryptocurrency exchange Binance generates 90% of its revenue from transaction fees, CEO Changpeng "CZ" Zhao said in a recent TechCrunch interview posted on YouTube. He added that Binance had removed all ads from data site CoinMarketCap , whic...
Business
Dec. 07, 2022

Crypto Infrastructure Firm Blockstream Seeks to Raise Funds at 70% Lower Valuation: Bloomberg

Crypto infrastructure firm Blockstream is looking to raise funds at a valuation which may be under $1 billion, according to a Bloomberg report , citing sources. This would be a significant cut in valuation for the firm, which raised a $210 mil...
Business
Dec. 06, 2022

Signature Bank to Reduce Crypto-Tied Deposits by as Much as $10 Billion

Signature Bank (SBNY) will shrink its deposits tied to cryptocurrencies by $8 billion to $10 billion, signaling a move away from the digital asset industry for the bank that until recently had been one of the most crypto-friendly companies on Wal...
Business
Dec. 06, 2022

Bitcoin Miner Marathon Expects to Recover Less Than Half Its Deposit From Bankrupt Compute North

Marathon Digital (MARA), one of the largest publicly traded bitcoin miners, expects to recover only $22 million of the $50 million it deposited with bankrupt bitcoin miner and data center provider Compute North. Marathon – which doesn’t own its ...
Business
Dec. 06, 2022

Texas Bitcoin Miners Are Offered to Cut Electricity Usage to Help the Grid

Texas is offering an interim, voluntary power curtailment program for “Large Flexible Loads (LFL),” which will incentivize bitcoin miners to lower their power consumption during a period of high electricity demand. The move will help the state’s...
Business
Dec. 06, 2022

Sam Bankman-Fried Hires Mark Cohen as His Attorney: Reuters

Sam Bankman-Fried has retained high-profile defense attorney Mark Cohen, reported Reuters on Tuesday , citing confirmation from Bankman-Fried's spokesperson Mark Botnick. A partner at Cohen & Gresser, Mark Cohen is a former federal prosecut...
Business
Dec. 06, 2022

Hedge Fund Fir Tree Sues Grayscale for Details on GBTC: Bloomberg

Hedge fund Fir Tree is suing crypto investment firm Grayscale to obtain details about its flagship Grayscale Bitcoin Trust (GBTC), in order to investigate potential mismanagement and conflicts of interest, according to a report from Bloomberg. ...
Business
Dec. 06, 2022

Crypto Bank Silvergate Slides Further After Letter from US Sen. Warren

Senators Elizabeth Warren (D-Mass.), John Kennedy (R-La.) and Roger Marshall (R-Kan.), in a letter late Monday evening , asked crypto-friendly bank Silvergate (SI) for answers over its supposed role in facilitating transfers between bankrupt exc...
Business
Dec. 06, 2022

Ledger Partners With iPod Creator Tony Fadell to Build Latest Hardware Wallet

Crypto wallet maker Ledger has partnered with Tony Fadell, the well-known creator of Apple’s iPod and the co-founder and former CEO of thermostat company Nest, to create its Ledger Stax hardware wallet. With the Stax, Ledger was hoping to develo...
Business
Dec. 06, 2022

ConsenSys to Update MetaMask Crypto Wallet in Response to Privacy Backlash

ConsenSys, the company behind the MetaMask crypto wallet, said Tuesday it will release a series of updates to the platform in response to user backlash regarding its data collection practices. In a statement, the company explained how and why ...
Business
Dec. 06, 2022

East African Bitcoin Miner Gridless Raises $2M Seed Round

Gridless , a bitcoin mining company that helps generate new sources of energy in East African rural communities, has secured a $2 million seed investment round led by Stillmark and Jack Dorsey co-founded payments firm Block , the company anno...
Business
Dec. 06, 2022

Goldman Sachs to Spend 'Tens of Millions' on Discounted Crypto Investments After FTX Implosion: Report

Goldman Sachs (GS), one of the world's largest investment banks, is looking to spend tens of millions of dollars on crypto firms whose valuations have been hit after the implosion of FTX, Reuters reported on Tuesday . Crypto exchange FTX filed...
Business
Dec. 05, 2022

Built With Bitcoin Foundation Opens New Technology Center in Ghana

The Built With Bitcoin Foundation (BWB), a non-profit organization seeking to provide “humanitarian support, powered by Bitcoin,” has built a technology center in Kumasi, Ghana. The aptly named “Bitcoin Technology Center” (BTC) will focus on f...
Business
Dec. 05, 2022

Silvergate CEO Attempts to Address Concerns in Public Letter

Citing "speculation – and misinformation – being spread by short sellers and other opportunists trying to capitalize on market uncertainty," Silvergate Capital (SI) CEO Alan Lane in a public letter attempts "to set the record straight." "Silve...
Business
Dec. 05, 2022

Bitcoin Miner Riot Switches Mining Pool After Falling Short in November

Riot Blockchain (RIOT), one of the world's largest publicly traded bitcoin miners, is switching its mining pool to ensure “more predictable results” for its operations, the company said after failing to produce expected monthly bitcoins. Riot sa...
Business
Dec. 05, 2022

Bankman-Fried Is a ‘Master of Deflection,’ Securities Lawyer Says

Former FTX CEO Sam Bankman-Fried’s attempts to change the narrative won’t prevent his imminently unavoidable day in U.S. court, said James Murphy, former founder and chairman of financial-services law firm Murphy & McGonigle. “What he’s tr...
Business
Dec. 05, 2022

Circle, emisor de stablecoin, cancela sus planes para cotizar en la bolsa

Circle, la empresa que está detrás de la stablecoin USDC, rescindió su acuerdo con la empresa de adquisición con propósito especial ( SPAC , por sus siglas en inglés) Concord Acquisition Corp y, por lo tanto, dio marcha atrás a su plan de cotizar...
Business
Dec. 05, 2022

Aave’s Social Media Protocol Lens Acquires NFT Mobile Game Sonar

Lens Protocol, the blockchain-based social media project from decentralized finance (DeFi) lender Aave, has acquired Sonar, a mobile app whose users pilot NFT-linked avatars through digital worlds. Lens declined to state the terms of the acquisi...
Business
Dec. 05, 2022

Crypto Bank Silvergate Cut to Underweight at Morgan Stanley Following FTX Collapse

Stress in the cryptocurrency market following the bankruptcy of crypto exchange FTX gives rise to a number of risks for Silvergate Capital (SI), Morgan Stanley said in a research report Monday. Led by analyst Manan Gosalia, the team downgraded...
Business
Dec. 05, 2022

Stablecoin Issuer Circle Cancels Plan to go Public

Circle, the company behind stablecoin USDC, has terminated its agreement with special purpose acquisition company ( SPAC ) Concord Acquisition Corp, thereby stepping back on its plan to go public. The firm said on Monday that the decision to c...
Business
Dec. 05, 2022

Australian Crypto Exchange Swyftx Cuts 90 Jobs Amid Crypto Winter

Australian crypto exchange Swyftx has cut some 90 jobs citing the crypto downturn, the firm said on Monday. According to LinkedIn , the exchange has some 200 employees, which would imply that Swyftx is reducing some 45% of its total workforce...
Business
Dec. 05, 2022

Bybit to Lay Off 30% of Staff Amid Crypto Winter

Crypto exchange Bybit will implement another round of job cuts as it tries to refocus its operations amid a "deepening bear market," CEO Ben Zhou announced on Sunday in a Twitter post. A screenshot of a message in which Zhou said the layoffs w...
Business
Dec. 04, 2022

Genesis Creditor Groups' Loans Amount to $1.8B and Counting: Sources

Customers whose money is locked up on trading and lending platform Genesis and who have taken legal advice on the matter currently account for some $1.8 billion of loans, according to a person familiar with the situation. And that number looks li...
Business
Dec. 04, 2022

A European Central Bank Blog Decries the End of Bitcoin, and We Aren’t Buying It

As a Greek-American, I’ve been paying attention to the European Central Bank (ECB) for too long. Imagine the scene: There’s a teenager on the way to soccer practice absolutely in shambles because he just learned that Goldman Sachs brokered a ...
Business
Dec. 02, 2022

Crypto Derivatives DEXs Reposition for Life After FTX

The collapse of crypto derivatives exchange FTX is driving more attention to its on-chain competitors and prompting these decentralized exchanges (DEX) to double down as an alternative. Whether they can win the trust of the trading public is yet...
Business
Dec. 02, 2022

Three Arrows Capital Liquidators Seize $35.6M From Singaporean Banks

Liquidators for Three Arrows Capital (3AC) have seized $35.6 million from the collapsed crypto hedge fund’s bank accounts in Singapore three months after getting the nod from that country’s High Court to begin probing 3AC's assets in the country....
Business
Dec. 02, 2022

Alameda Research asumió las pérdidas de hasta US$1000 millones de FTX tras el apalancamiento de un cliente en 2021

Alameda Research se llevó la peor parte de la pérdida de US$1000 millones incurrida por su empresa hermana FTX luego de que una operación de apalancamiento en el ahora en bancarrota exchange de criptomonedas fracasara a principios del año pasado,...
Business
Dec. 02, 2022

Former FTX US President Is Seeking Funds for Crypto Startup: Report

Brett Harrison, who was president of FTX's U.S. division until September , is attempting to raise capital to fund a new cryptocurrency startup, The Information reported . He is trying to raise $6 million while valuing the company, which aims t...
Business
Dec. 02, 2022

Bitcoin Miners’ FTX Contagion Exposure May Amplify Industry Pain

Bitcoin miners, which already have up to $2.5 billion in loans outstanding, could find themselves in even hotter water as many have exposure to failed crypto exchange FTX and lenders such as BlockFi. Miners’ balance sheets have been steadily d...
Business
Dec. 02, 2022

Alameda Research Shouldered FTX Loss of Up to $1B Following Client's Leveraged Trade in 2021: FT

Alameda Research bore the brunt of a $1 billion loss incurred by its affiliated firm FTX after a leveraged trade on the now-bankrupt crypto exchange backfired early last year, the Financial Times reported Friday , citing people with knowledge of...
Business
Dec. 02, 2022

Galaxy Digital Agrees to Buy GK8 From Bankrupt Crypto Lender Celsius: Bloomberg

Mike Novogratz's Galaxy Digital has won an auction to buy self-custody platform GK8 from Celsius Network, Bloomberg reported on Friday. The terms of the deal were not disclosed, however Galaxy co-President Chris Ferraro said that the firm bought...
Business
Dec. 02, 2022

Crypto Exchange Zipmex Secures Creditor Protection Extension as Court Sets Deal Deadline

Zipmex, the South Asian crypto exchange that froze withdrawals because of a lack of liquidity earlier this year, has secured creditor protection for all its entities until April next year, according to an update on the company's website . The...
Business
Dec. 01, 2022

Stripe Debuts Fiat-to-Crypto Payment Offering for Web3 Businesses

Payments firm Stripe has debuted a project to facilitate fiat-to-crypto payments for companies in dozens of countries around the world, the company said Thursday. The offering, a customizable widget that can be embedded directly into a decentr...
Business
Dec. 01, 2022

Binance Exec Says Company May Not Be Around in 10 Years

Patrick Hillman, chief strategy officer of Binance, said the company may not exist in 10 years because the crypto market it is moving toward decentralized finance ( DeFi ). Binance, the world's largest cryptocurrency exchange by trade volume, is...
Business
Dec. 01, 2022

Solana-Based DEX Orca Partners With Stripe for Fiat Transactions

Orca, a Solana-based decentralized exchange (DEX), has integrated with payments heavyweight Stripe to to power its fiat-to-crypto transactions. Users will now be able to make fiat purchases for tokens such as USDC and SOL via an onramp built ins...
Business
Dec. 01, 2022

Compass Mining Launches Bitcoin Miner Protection Plan

Compass Mining, a firm that brokers bitcoin mining machines and hosting services primarily to retail clients, said it is offering its first protection product so that customers can safeguard their bitcoin mining machines. Insurance options for m...
Business
Dec. 01, 2022

FCA-Regulated Crypto Custodian Digivault Is Up for Sale Following Eqonex Liquidation: Source

Digivault, the cryptocurrency custodian that was one of the first to secure a license from the U.K. Financial Conduct Authority (FCA), has put itself up for sale after parent company Eqonex was put under judicial management in Singapore last ...
Business
Dec. 01, 2022

Web 3 Content Delivery Network Fleek Raises $25M

Web 3 developer platform Fleek has raised $25 million in a Series A round led by crypto-focused venture capital firm Polychain Capital. The funding will accelerate the development and launch of a decentralized content and application delivery ne...
Business
Dec. 01, 2022

Full Transcript: NY Times' Interview With Sam Bankman-Fried

The New York Times’ Andrew Ross Sorkin interviewed former FTX CEO Sam Bankman-Fried on Wednesday, Nov. 30, as part of the Times’ DealBook Summit. Here is a rough transcript of that conversation. Read CoinDesk’s coverage of the interview here ...
Business
Dec. 01, 2022

Former FTX CEO Sam Bankman-Fried: 'I Didn’t Knowingly Commingle Funds'

The collapse of Sam Bankman-Fried’s FTX empire left customers with missing funds and unresolved questions. But Bankman-Fried’s highly-anticipated Wednesday interview with The New York Times’ Andrew Ross Sorkin didn't answer many of those questio...
Business
Nov. 30, 2022

IBM and Australian Stock Market’s Blockchain Projects Failed, a Blow to Private Ledgers

The turbulence in the overall cryptocurrency sector following FTX’s collapse this month is well known. What’s gotten less attention, however, is the failure of projects that attempted to use the underlying crypto ledger technology in private, cor...
Business
Nov. 30, 2022

Near Foundation Joins Processed Foods Giant Grupo Nutresa to Unveil Web3 Loyalty Program in Latin America

The Near Foundation, the nonprofit organization behind the carbon-neutral blockchain of the same name, will be rolling out a loyalty points program for Grupo Nutresa, one of Latin America’s largest processed food companies. The open-source loy...
Business
Nov. 30, 2022

Meta CEO Mark Zuckerberg Still 'Long-Term Optimistic' on Metaverse

Meta (META) CEO Mark Zuckerberg said he was still optimistic about the metaverse on a longer, “five-to-ten-year horizon” at the New York Times Dealbook Summit in New York City on Wednesday. "The way we communicate gets richer and more immersive,...
Business
Nov. 30, 2022

Telegram CEO Durov Plans to Build Crypto Wallets, Decentralized Exchange

Messaging app Telegram has sold $50 million in usernames in less than a month through its blockchain-based auction platform, Fragment, CEO Pavel Durov said Wednesday. The figure speaks to the success of Telegram’s second go-around at bootstrappi...
Business
Nov. 30, 2022

Blockchain Protocol Komodo Offering Three-In-One Wallet, Cross-Chain Bridge and DEX

Blockchain protocol Komodo has launched AtomicDEX Web – a wallet, cross-chain bridge and decentralized exchange (DEX). Unlike centralized exchanges (CEXs), a DEX relies on smart contracts and liquidity pools to allow its users to trade cry...
Business
Nov. 30, 2022

Broker-Dealer INX Digital Bids to Purchase Voyager Assets

Broker-dealer and crypto trading platform INX Digital (QTCQB: INXDF) has entered the bidding contest for the assets of bankrupt cryptocurrency lender Voyager Digital, announcing a non-binding Letter of Intent (LOI) Wednesday morning. The firm ...
Business
Nov. 30, 2022

Kraken Cuts 30% of Workforce Amid Crypto Winter

Crypto exchange Kraken said Wednesday it is laying off 30% of its global staff – around 1,100 people – in response to the crypto market downturn. "Since the start of this year, macroeconomic and geopolitical factors have weighed on financial mar...
Business
Nov. 30, 2022

BlackRock CEO Says Firm Had Invested $24 Million in FTX: Reuters

BlackRock CEO Larry Fink specified that the asset management giant had invested $24 million in FTX before its collapse, according to Reuters. Fink was speaking at the New York Times Dealbook conference on Wednesday. Fink also said it looked like...
Business
Nov. 30, 2022

Ton Steward Looks to Draw Projects to its Ecosystem With $126M Rescue Fund

The stewards of the Ton network have set up a "rescue fund" with a soft commitment of $126 million to support projects experiencing liquidity problems as a result of the FTX fallout. The Ton Foundation's aim is to entice projects to migrate to T...
Business
Nov. 30, 2022

Hong Kong Crypto Exchange AAX Unlikely to Reopen, Former Comms Chief Says

Troubled Hong Kong crypto exchange AAX is now more likely to be unwound than resuming normal operations, its former head of communications Ben Caselin told CoinDesk TV Wednesday in his first interview since resigning earlier this week. AAX shutt...
Business
Nov. 30, 2022

LedgerX to Make $175M Available for FTX Bankruptcy Proceedings: Bloomberg

LedgerX, a subsidiary of bankrupt crypto exchange FTX, is preparing to put up $175 million toward its parent company's bankruptcy proceedings, according to a Bloomberg report , which cited people familiar with the matter. The money could be tra...
Business
Nov. 30, 2022

Market Maker Keyrock Raises $72M Series B Amid FTX Contagion

Digital asset market maker Keyrock has raised $72 million in a Series B funding round from a group of investors that include crypto fintech Ripple and venture capital firms SIX FinTech Ventures – the investment arm of financial market infrastruct...
Business
Nov. 30, 2022

Crypto Exchanges Huobi, Poloniex to Form 'Strategic Partnership'

Cryptocurrency exchange Huobi has said it will form a "strategic partnership" with Poloniex a week after denying rumours that the two firms were planning to merge. "The two exchanges will progressively cooperate in multiple business aspects incl...
Business
Nov. 30, 2022

Morgan Stanley: Crypto Winter Hurt Confidence, but Building Digital Asset Infrastructure Remains Key

Investor interest in digital assets has changed in the past year as crypto prices declined, Morgan Stanley (MS) said in a research report Wednesday. Retail interest in prices levels and volatility has eased while demand for regulated products for...
Business
Nov. 30, 2022

NFT Investor Animoca Brands to Start $2B Metaverse Fund: Report

Non-fungible token (NFT) and gaming investor Animoca Brands plans to set up a fund worth as much as $2 billion to invest in metaverse businesses, the firm's co-founder Yat Siu said in an interview, Nikkei Asia reported on Wednesday . Siu said t...
Business
Nov. 30, 2022

London Court Orders Six Crypto Exchanges to Share Client Details to Assist in $10.7M Fraud Case

London's High Court has ordered six cryptocurrency exchanges, which includes Binance, Coinbase, Luno and Kraken, to disclose client information to help trace $10.7 million that was stolen from a U.K.-based exchange in 2020, according to a court j...
Business
Nov. 30, 2022

Binance Enters Japan With Acquisition of Regulated Crypto Exchange Sakura

Binance has bought Sakura Exchange BitCoin (SEBC), a Japanese crypto exchange regulated by the country's Financial Services Agency (FSA), for an undisclosed sum, according to a blog post Wednesday. With the acquisition, the world's largest cry...
Business
Nov. 30, 2022

Prosecutors Seeking Arrest Warrant for Terraform Labs' Daniel Shin: Yonhap

South Korean newswire service Yonhap is reporting that prosecutors are seeking an arrest warrant for Daniel Shin, co-founder of Terraform Labs. Yonhap says prosecutors are charging Shin with taking illegal profits as he sold $105 million of LU...
Business
Nov. 30, 2022

Genesis Creditors Hire Lawyers to Find Ways to Prevent Crypto Brokerage's Bankruptcy

Genesis Global Trading's creditors have hired restructuring lawyers to help find a way prevent the crypto brokerage from having to file for bankruptcy, Bloomberg News reported on Wednesday, citing people with knowledge of the situation. Some c...
Business
Nov. 30, 2022

IBM and Maersk Abandon Ship on TradeLens Logistics Blockchain

Maersk and IBM will wind down their shipping blockchain TradeLens by early 2023, ending the pair’s five year project to improve global trade by connecting supply chains on a permissioned blockchain. TradeLens emerged during the “enterprise blo...
Business
Nov. 30, 2022

Jack Dorsey's TBD Is Looking to Trademark 'Web5' to Deter Its Misuse

TBD, the bitcoin-focused subsidiary of Dorsey’s Block (SQ), is looking to trademark the Web5 name to prevent confusion over the meaning of the term and deter others from using it loosely. "We’ve recently noticed that the term 'Web5' is being app...
Business
Nov. 29, 2022

Crypto Services Firm Prime Trust Has Fired CEO Tom Pageler

Crypto fintech Prime Trust’s CEO, Tom Pageler, was fired this week, CoinDesk has learned. Pageler had helmed the Nevada-based crypto services company since January 2021 , according to his Linkedin profile. He was previously its president and ch...
Business
Nov. 29, 2022

BlockFi Most Likely to Pay SEC First, Crypto Lawyer Says

The Securities and Exchange Commission will most likely to be the first to get paid in the lineup of creditors crypto exchange BlockFi owes money to, Sasha Hodder, founder of Hodder Law, a firm that specializes in crypto law, said Tuesday. Hodde...
Business
Nov. 29, 2022

Sam Bankman-Fried Addresses Withdrawals, FTX Collapse in Newly-Released Audio Interview

Sam Bankman-Fried’s crypto empire blew up in spectacular fashion at the beginning of this month, and questions continue to swirl around the motives and mechanics that caused FTX and its sister company, Alameda Research, to collapse. Among the mo...
Business
Nov. 29, 2022

Coinbase Wallet Quietly Delists Bitcoin Cash, Ethereum Classic, Ripple's XRP and Stellar's XLM

Coinbase will delist the native tokens associated with Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple's XRP Ledger (XRP) and Stellar (XLM) from its wallet service, according to an update on the company's website . The assets will no longer ...
Business
Nov. 29, 2022

A16z Leads $15M Round for Game Studio Roboto Games

Roboto Games, a new game studio aiming to bridge Web2 experience and accessible Web3 in-game elements, has raised $15 million in a Series A funding round led by noted venture capital firm Andreessen Horowitz (a16z), which launched its first game-...
Business
Nov. 29, 2022

Firm Behind FTSE 100 Unveils Crypto Index Series

FTSE Russell, the company behind the London Stock Exchange's benchmark FTSE 100 equity index, has rolled out a set of measures for the digital asset market. The FTSE Global Digital Asset Index Series comprises eight gauges ranging from large and...
Business
Nov. 29, 2022

Solana’s Top Crypto Wallet Looks to Ethereum, Polygon Next

Phantom, the leading crypto wallet in the Solana ecosystem, said Tuesday it will add support for assets on the Ethereum and Polygon blockchains, with the roll out beginning in about three months, according to a representative. The self-custody w...
Business
Nov. 29, 2022

Korean Crypto Exchange Upbit's Parent Q3 Profit Slides 73%: Report

Net profit at Dunamu, the South Korean parent of crypto exchange Upbit, dropped 73% to 160 billion won ($120 million) in the third quarter from the year-earlier period, CoinDesk Korea reported Tuesday . The South Korean fintech firm was hit by ...
Business
Nov. 29, 2022

Bankrupt BlockFi Sues Sam Bankman-Fried for His Robinhood Shares, FT Reports

Cryptocurrency lender BlockFi, which filed for bankruptcy protection on Monday, on the same day sued FTX founder Sam Bankman-Fried's Emergent Fidelity Technologies for Robinhood (HOOD) shares held by the company and pledged to BlockFi as collater...
Business
Nov. 29, 2022

Crypto Bank Silvergate Says Its BlockFi Digital Asset Deposit Exposure Totals Less Than $20M

Silvergate Capital (SI) said in press release late Monday that its total digital asset deposit relationship with BlockFi, which filed for Chapter 11 bankruptcy protection on Monday, is less than $20 million of of its total deposits from all dig...
Business
Nov. 28, 2022

Aave Supporters Say Lending Freeze Will Help Transition the Network

Decentralized finance (DeFi) protocol Aave is freezing borrowing and lending of assets in its Ethereum liquidity pool after a vote by its community of token holders aimed at mitigating risk – and in preparation for upgrading its protocol. The Et...
Business
Nov. 28, 2022

TIME President Keith Grossman Joins Crypto Payments Startup MoonPay

Keith Grossman, president of TIME, has left the media firm to join crypto payments infrastructure firm MoonPay. Grossman announced via Twitter that he is to become MoonPay's president of enterprise following a three-plus year tenure as TIME's ...
Business
Nov. 28, 2022

Social Media Giant LINE Closes Its Crypto Exchange Bitfront

Japanese social media company LINE will shut down Bitfront, a crypto exchange that it launched in 2020, according to an announcement on Monday. LINE will now shift its focus from the exchange to its native blockchain and token. "Despite our e...
Business
Nov. 28, 2022

Coinbase Makes Four New Appointments to Bolster European Expansion

Cryptocurrency exchange Coinbase (COIN) has made four new appointments to its European team to help further its expansion across the continent. The exchange has hired Michael Schroeder and Cormac Dinan as its new director of controls for Germa...
Business
Nov. 28, 2022

Ethereum Staking-as-a Service Startup Kiln Raises $17.6M

Kiln, a startup that allows customers to receive rewards for helping secure the Ethereum blockchain, raised 17 million euros ($17.6 million) in a Series A funding round from a group of investors including Consensys, GSR Ventures and Kraken's vent...
Business
Nov. 27, 2022

Some Things to Be Thankful For, Even Though Everything in Crypto Is On Fire

Crypto in November has basically been a mess because of the fall of FTX. Enough doomscrolling. We’re entering the Thanksgiving (in the U.S.) and year-end holiday season. So here are some crypto-related things that I am, and you should be, thankf...
Business
Nov. 25, 2022

Crypto Exchange Huobi Denies Rumors It Will Merge With Poloniex

Cryptocurrency exchange Huobi has said rumors that it will merge with Poloniex are "categorically untrue." It was reported today by Colin Wu that the two exchanges would merge, a rumor to which Justin Sun subsequently added fuel . Justin Sun...
Business
Nov. 25, 2022

Crypto Exchange Binance Delists Serum Trading Pairs Amid FTX Connection

Cryptocurrency exchange Binance will delist three Serum ( SRM ) trading pairs as the fallout from FTX's collapse continues, according to an announcement on Friday. The exchange will terminate trading of the SRM/BNB, SRM/BTC and SRM/USDT tradin...
Business
Nov. 25, 2022

Jihan Wu's Crypto Lender Matrixport Looks to Raise $100M at $1.5B Valuation

Crypto lending firm Matrixport, led by Jihan Wu, is looking to raise $100 million at a $1.5 billion valuation. The Singapore-based firm already has commitments for $50 million from lead investors at the sky-high valuation, but is still looking f...
Business
Nov. 25, 2022

Binance Allocates Another $1B for Its Crypto Recovery Fund

Crypto exchange Binance has allocated another $1 billion for its industry recovery fund, effectively increasing the size of the fund to over $2 billion. The additional allocation was announced by Binance CEO Changpeng "CZ" Zhao on Friday. #B...
Business
Nov. 24, 2022

Cardano DeFi Project Ardana Halts Development, Citing Funding, Timeline Concerns

Ardana (DANA), a once-promising decentralized finance project built on perennial top-ten proof-of-stake blockchain Cardano ( ADA ) has halted development. Hello Ardana community, Unfortunately due to recent developments with regards to funding...
Business
Nov. 24, 2022

Jump Crypto, Aptos Labs Commit to Binance-Led $1B Recovery Fund

Aptos Labs and Jump Crypto are among the prominent crypto companies that committed to contributing $50 million to a Binance-led $1 billion Industry Recovery Initiative (IRI), according to a press release . Jump Crypto, a trading firm, and Aptos...
Business
Nov. 24, 2022

Argentine Crypto Exchange Lemon Sheds Roughly 100 Jobs, Citing Challenging Industry Conditions

Lemon Cash, a crypto exchange with operations in Argentina and Brazil, cut 38% of its workforce – about 100 employees – on Thursday, citing the challenging industry environment and the lack of a clear recovery horizon in the venture capital marke...
Business
Nov. 24, 2022

Crypto Self-Custodying Offers Protection Amid FTX Exchange Fallout

The last few weeks have been among the craziest that the crypto markets have ever seen. The once-trusted exchange FTX (and all the FTX associated companies), led by founder Sam Bankman-Fried, has filed bankruptcy after the exchange was discovered...
Business
Nov. 24, 2022

Crypto Exchange Bybit Announces $100M Fund to Support Institutional Clients

Crypto exchange Bybit has established a $100 million fund to support institutional clients, "during this challenging period in the crypto industry," the company said Thursday. Bybit will offer up to $10 million to existing and new market makers ...
Business
Nov. 24, 2022

Binance.US to Bid for Crypto Lender Voyager, CZ Confirms

Binance CEO Changpeng "CZ" Zhao has confirmed that the exchange's U.S. wing will be making a fresh bid for crypto lender Voyager now that the defunct FTX is unable to follow through with acquiring it. CoinDesk reported last week that Binance.US...
Business
Nov. 24, 2022

Binance Targets $1B Recovery Fund for Distressed Crypto Assets: Bloomberg

Binance is targeting $1 billion or more for a previously announced recovery fund to buy distressed crypto assets, CEO Changpeng "CZ" Zhao said in an interview with Bloomberg Television on Thursday. “If that’s not enough we can allocate more,” CZ...
Business
Nov. 24, 2022

Singapore Starts Fraud Investigation In to Crypto Exchange Hodlnaut: Reports

Singapore police have started an investigation into troubled crypto exchange Holdnaut, according to multiple reports . The white collar division of the police force is looking into allegations of cheating and fraud by the company and its direct...
Business
Nov. 23, 2022

Genesis Global Capital Confirms Hiring Investment Bank Moelis, Talks With Potential Investors

Genesis Global Capital confirmed that it has hired investment bank Moelis & Co. to explore how to shore up its crypto-lending business' liquidity and address clients' needs, days after halting withdrawals. "We've begun discussions with poten...
Business
Nov. 23, 2022

Crypto’s Future Will Be Based on Self-Custody and Regulation: Kraken's Dave Ripley

Kraken’s chief operating officer said crypto’s future will be based on self-custody and clear regulatory standards. Dave Ripley, currently the crypto exchange’s COO and named to replace CEO Jesse Powell when he steps down, told CoinDesk TV’s “...
Business
Nov. 23, 2022

Founder of EOS Developer Block.One Buys 9.3% of Crypto Bank Silvergate

Brendan Blumer, the founder of EOS developer Block.One, has bought 9.3% of crypto bank Silvergate Capital (SI) , while Block.One bought an additional 7.5% , according to SEC documents filed on Wednesday. According to the filings, Blumer bought ...
Business
Nov. 23, 2022

Binance's Crypto Mining Pool Adds Ravencoin Support

Binance Pool, the crypto exchange's mining pool service, is adding Ravencoin (RVN) to its list of supported tokens, as crypto miners look for new tokens to mine post the Ethereum-merge, according to a Wednesday blog post . In September, the Et...
Business
Nov. 23, 2022

Singapore Bank DBS Completes Fixed Income Trade on JPMorgan's Blockchain Network Onyx

DBS (D05), Singapore's largest bank by market cap, said it has become the first Asian bank to use JPMorgan's (JPM) blockchain-based fixed income trading network Onyx, joining international heavyweights including Goldman Sachs (GS) and BNP Pari...
Business
Nov. 22, 2022

Crypto Mining and Staking Firm Foundry Buys Some of Troubled Bitcoin Miner Compute North's Assets

Crypto mining and staking firm Foundry will buy two "turnkey" crypto mining assets with a total of 17 megawatt (MW) computing capacity from bitcoin miner Compute North, which filed for Chapter 11 bankruptcy protection in late September Foundry...
Business
Nov. 22, 2022

Bankman-Fried Apologizes to FTX Employees, Details Amount of Leverage in Internal Letter

FTX founder and former CEO Sam Bankman-Fried "froze up in the face of pressure" as his company collapsed, he wrote in a new letter sent to employees of the company he once helmed. In the letter, shared internally in FTX's company Slack and obtai...
Business
Nov. 22, 2022

On-Chain Data Shows Close Ties Between FTX and Alameda Were There From the Start: Nansen

Despite claims by the companies to the contrary, blockchain data shows crypto exchange FTX and sister company Alameda Research were very much connected from the beginning, said Niklas Polk, a research analyst at analytics firm Nansen. Polk told ...
Business
Nov. 22, 2022

Genesis Global Capital Has Hired Investment Bank Moelis to Explore Options Including Bankruptcy: New York Times

Genesis Global Capital has hired investment bank Moelis & Company to explore options including a potential bankruptcy, The New York Times reported , citing three people familiar with the situation. There haven't been any final decisions mad...
Business
Nov. 22, 2022

Binance's CEO Sows Doubt in Crypto Rival Coinbase and Digital Asset Manager Grayscale – Then Backtracks

Battles between crypto exchange titans has driven much of this month's chaos in the industry. The latest salvo from Binance's CEO appears to have been inaccurate. On Tuesday, Binance CEO Changpeng "CZ" Zhao stepped into one of the biggest worrie...
Business
Nov. 22, 2022

Binance CEO Seeking Funds From Middle East Investors for Crypto Recovery Fund: Bloomberg

Binance's CEO Changpeng "CZ" Zhao has been meeting with investors in Abu Dhabi seeking cash for the exchange's crypto recovery fund, Bloomberg reported Tuesday . Zhao held several meetings with potential backers of the fund last week, including...
Business
Nov. 22, 2022

Cathie Wood's ARK Buys $1.5M of Shares in Grayscale's Bitcoin Trust at Record Discount

Cathie Wood's ARK Investment Management bought another 176,945 shares ($1.46 million) in Grayscale's Bitcoin Trust (GBTC) on Monday as the crypto market slumped to a two-year low. The purchase comes as GBTC shares trade at a record 45% discount ...
Business
Nov. 22, 2022

Bitcoin Mining Giant Core Scientific Ended October with $32M in Cash

Core Scientific (CORZ), the world's largest publicly listed miner by computing power, ended October with $32.2 million in cash and 62 BTC ($975,000) and said it may run out of money before the end of the year. The company first warned of bankru...
Business
Nov. 22, 2022

Crypto Financial Services Firm Eqonex Files for Voluntary Debt Restructuring in Singapore

Eqonex (EQOS), a Nasdaq-listed crypto financial services firm, filed a voluntary application with the High Court in Singapore to place the company into judicial management. In a Monday filing with the U.S. Securities and Exchange Commission, E...
Business
Nov. 22, 2022

FTX Must Pay Expenses Incurred by Bahamas Regulator for Holding the Exchange's Digital Assets

FTX is responsible for all costs associated with the digital wallet that holds FTX Digital Markets' assets and is being kept under the supervision of The Securities Commission of The Bahamas's (the Commission), the country's Supreme Court ruled o...
Business
Nov. 22, 2022

Sam Bankman-Fried's Crumbling FTX Empire Holds $1.2B Cash Reserves

The various divisions of Sam Bankman-Fried's crumbling set of companies have $1.2 billion in cash as of Nov. 20, far below the $3.1 billion it owes its top 50 creditors, court documents show. About $751 million of that is held in debtor entities...
Business
Nov. 22, 2022

Crypto Exchange Bitget Registers in Seychelles, Eyes Global Expansion

Singapore-based crypto derivatives exchange Bitget has registered in Seychelles as it looks to expand its services. Last week, the exchange said that it has started operations in Brazil and will allow users to make crypto purchases in Brazil...
Business
Nov. 22, 2022

Genesis Bankruptcy Jitters Send Bitcoin to Fresh Low

Days after its lending unit was forced to halt withdrawals in wake of the collapse of crypto exchange FTX, Genesis Global Trading has mentioned bankruptcy as a potential option as it seeks fresh capital, reports Bloomberg citing people with kno...
Business
Nov. 21, 2022

FTX’s Collapse a Wake-Up Call for Venture Capitalists, Dragonfly Partner Says

The fallout of bankrupt crypto exchange FTX's collapse is a wake-up call for venture capitalists, Tom Schmidt, a partner at crypto-centered investment firm Dragonfly Capital, said Monday. Schmidt told CoinDesk TV’s “ First Mover ” program that...
Business
Nov. 21, 2022

Osprey Publishes Public Address for Its Trust's Bitcoin Holdings

"The Osprey Bitcoin Trust's (OBTC) bitcoin is held at Coinbase Custody," tweeted Osprey founder and CEO Greg King late Monday morning. King went on to reveal the public address of the funds. The Osprey trust has around $46 million in assets un...
Business
Nov. 21, 2022

Crypto Exchange Uniswap Says it Collects Users' Public On-Chain Data in New Privacy Policy

Uniswap Labs, the development team behind the decentralized exchange Uniswap, said in a newly-released privacy policy that it collects certain on-chain data from its users to continually make improvements to its product. “We do want to make data...
Business
Nov. 21, 2022

Crypto Lender Nexo Sued for Allegedly Blocking $126M Withdrawals: Report

Nexo is being sued by a group of investors in the London High Court who allege that the crypto firm blocked them from withdrawing over £107 million ($126 million) worth of crypto, according to a report by local business newspaper CityAM. The t...
Business
Nov. 21, 2022

New FTX CEO Paid $1,300 an Hour, Court Filings Show

John Ray, the seasoned expert brought in to tidy up the wreckage of collapsed crypto exchange FTX , is billing $1,300 per hour for his trouble, court documents filed on Sunday show. Restructuring experts are seeking to carry on paying senior st...
Business
Nov. 21, 2022

FTX Japan Preparing to Allow Withdrawals by Year-End: Report

The Japanese arm of bankrupt crypto exchange FTX is preparing to resume customer withdrawals by the end of the year, according to a report by broadcaster NHK . An unnamed executive of exchange said in an interview that withdrawals cannot be res...
Business
Nov. 21, 2022

Shuttered AAX Will Close Out Derivatives, Citing ‘Chance’ of Return to Normal

AAX will close out derivatives positions as it attempts to return to normal following a hack, the Hong Kong crypto exchange said in a statement posted Sunday. “In order to protect the rights and interests of users, during the system maintenance ...
Business
Nov. 21, 2022

Bill Ackman Endorses Crypto Project Helium, Discloses Crypto Holdings

One of TradFi’s better-known investors revealed on Monday that he has turned a leaf and is now endorsing crypto, even though his choice of project may be questionable. In a tweet thread, Bill Ackman said he likes Helium, a decentralized Wi-Fi me...
Business
Nov. 21, 2022

FTX Owes Its Largest Creditor $226M; Top 50 Owed Total of About $3.1B

FTX’s largest creditors have claims ranging from hundreds of millions to tens of millions of dollars, according to a recently filed court document. This document shows that of FTX’s estimated 1 million creditors , the largest single claim is fo...
Business
Nov. 20, 2022

Crypto Markets Are Suffering – But Is It Really ‘Contagion’?

So we’re now roughly two weeks removed from the start of the FTX meltdown . The coverage on CoinDesk has been without peer. Here are the biggest FTX-related stories from last week by my count: FTX founder and former CEO Sam Bankman-Fried say...
Business
Nov. 18, 2022

Crypto Fund Sino Global Had Deep Ties to FTX Beyond Equity Investment

Sino Global Capital, one of Asia’s biggest and most well-known crypto investors, led by Matthew Graham, tweeted a statement this week that its “direct exposure to FTX exchange was confined to mid-seven figures held in custody.” The wording o...
Business
Nov. 18, 2022

Bitcoin Financial Services Firm Unchained Capital Cutting Staff, Reshuffling Management

Unchained Capital reduced its workforce by about 15% and moved its head of business development Parker Lewis to the board of directors as well as chief product officer Will Cole to a senior advisory role. In a blog post discussing the jobs cuts...
Business
Nov. 18, 2022

Sam Bankman-Fried Cashed Out $300M in Previous Funding Round: WSJ

Former FTX CEO Sam Bankman-Fried personally received $300 million from a $420 million funding round for the company in October 2021, according to a Wall Street Journal report that cited FTX financial records it had reviewed, as well as people f...
Business
Nov. 18, 2022

Cardano Is Launching New Privacy Blockchain and Token

Input Output Global (IOG), the firm behind the Cardano blockchain, is releasing a new privacy-focused blockchain called Midnight and a token called dust to accompany the new network. Midnight, which is underpinned by zero-knowledge-proof techn...
Business
Nov. 18, 2022

Shares of Crypto Bank Silvergate Continue to Fall Despite CEO’s Remarks

Silvergate Capital (SI) shares fell Friday morning in a sign that FTX’s rapid unraveling continues to rattle investors. On Thursday, Silvergate CEO Alan Lane tried to assuage investors that market volatility precipitated by FTX’s collapse would ...
Business
Nov. 18, 2022

Here’s How Some FTX Account Holders Can Get Their Money Back – But Time Is Running Out

Some FTX account holders can get their investments back, but they will have to act fast, according to Joshua Browder, CEO of DoNotPay, a chatbox that offers legal advice. The entrepreneur told CoinDesk TV’s “First Mover” program on Friday that u...
Business
Nov. 18, 2022

Pension Giant Ontario Teachers' Plans to Write Off All $95 Million Invested in Crypto Exchange FTX

Ontario Teachers', one of Canada's largest pension funds with nearly $250 billion in assets under management (AUM), will write down the entirety of its $95 million investment in FTX after the troubled crypto exchange filed for bankruptcy protect...
Business
Nov. 18, 2022

Crypto Exchange Coinbase Loses a Wall Street Bull on FTX Fallout

Crypto exchange Coinbase (COIN) is now faced with a number of new headwinds due to the collapse of rival FTX , said Bank of America, downgrading the stock to neutral from buy. Alongside, the bank slashed its price target to $50 from $77. COIN i...
Business
Nov. 18, 2022

Crypto Exchange Zipmex Asks for Creditor Protection Extension With Takeover Talks 'Ongoing'

Troubled cryptocurrency exchange Zipmex remains in talks with an investor over a takeover deal that may be completed as early as next week, according to a person familiar with the matter who asked to remain anonymous because they're not authorize...
Business
Nov. 18, 2022

BofA: Don’t Tarnish Blockchain Technology With Speculative Crypto Trading

It is important to separate speculative crypto trading and token prices from the underlying blockchain technology, Bank of America (BAC) said in a research report Thursday after a group of major banks and the Federal Reserve Bank of New York sta...
Business
Nov. 18, 2022

Crypto Firm Genesis Block Ceases Trading Services Amid FTX Contagion: Report

Hong Kong-based crypto services firm Genesis Block said on Friday it would cease over-the-counter (OTC) trading services in wake of contagion risks from the now-bankrupt FTX exchange, according to a Reuters report. "We have ceased trading, as ...
Business
Nov. 18, 2022

Turkish Crypto Exchange Founder Faruk to Be Extradited to Turkey to Face Charges of Fraud and Founding a Criminal Organization: Report

Faruk Fatih Öze, the founder of Thodex, one of Turkey's largest crypto exchanges, will be extradited to Turkey after being arrested in Albania in August to face charges of fraud and running a criminal organization, state media aa.com reported o...
Business
Nov. 17, 2022

MLB Commissioner: It’s a “Pretty Good Bet” FTX Patches Won’t Be on Umpires Next Season

Major League Baseball commissioner Rob Manfred said it was a “pretty good bet” that MLB umpires will not sport FTX patches on their uniforms next year during a Thursday press conference. The partnership has been one of the crypto exchange’s most...
Business
Nov. 17, 2022

Custodians Could Sweep Up Following FTX Collapse: Strategist

There is a bright spot for institutional crypto custodian players following the collapse of FTX , according to Octavio Marenzi, CEO of management consultancy firm Opimas. “The real beneficiaries are going to be people who have very big names an...
Business
Nov. 17, 2022

FTX Ventures Was a Disorganized Mess With Missing Financials, Bankruptcy Documents Say

Crypto exchange FTX established a $2 billion venture capital fund early this year, instantly becoming one of the crypto industry’s largest funds. The capital was said to fully come from the now-collapsed FTX and then-CEO Sam Bankman-Fried. New ...
Business
Nov. 17, 2022

UC-Berkeley Suspends Stadium Naming Rights Deal with FTX

The University of California Berkeley has suspended its stadium naming rights deal with FTX, a representative of the athletic department confirmed in a statement to CoinDesk. The deal was originally planned for 10 years and lasted just 450 days....
Business
Nov. 17, 2022

FTX Affiliate Alameda Loaned $4.1B to Related Parties – Including $1B to Sam Bankman-Fried

Alameda Research, the venture capital and trading firm sister of collapsed crypto exchange FTX, made $4.1 billion in loans to related parties, including $1 billion for former CEO Sam Bankman-Fried, according to bankruptcy filings made on Thursday...
Business
Nov. 17, 2022

Alameda Had ‘Secret Exemption’ From FTX Liquidation Protocols, New CEO Says

Alameda Research, the crypto hedge fund at the center of Sam Bankman-Fried’s and FTX’s downfall, had a “secret exemption” from the crypto exchange’s liquidation procedures, according to bankruptcy filings Thursday. The revelation in a court fil...
Business
Nov. 17, 2022

Startup Arkon Energy Raises $28M to Further Expand Into Bitcoin Mining

Arkon Energy, the data center startup that uses renewable electricity to mine bitcoin, raised $28 million, led by quantitative investment manager and digital assets market maker, Blue Sky Capital. The financing was a combination of senior debt a...
Business
Nov. 17, 2022

Bitcoin Exit From Crypto Exchanges Rises to 220K Over Past 10 Days

Roughly another 26,000 bitcoin (BTC) has been pulled from crypto exchanges over the past 24 hours, bringing the total amount withdrawn since Nov. 7 to more than 220,000 bitcoin, according to data from Coinglass . At last read, there were 1.87 m...
Business
Nov. 17, 2022

Cardano Blockchain Builder IOG Funds $4.5M Research Hub at Edinburgh University

Cardano blockchain builder Input Output Global (IOG) has funded a $4.5 million research hub at the University of Edinburgh, having made similar investments at Stanford and Carnegie Mellon. The Input Output Global Research Hub is the collaborativ...
Business
Nov. 17, 2022

Post-FTX Meltdown, Regulation-Abiding Companies Can Restore Trust

Only just a few weeks ago, it seemed like the crypto universe had found a new sense of calm and stability – leave it to Coindesk’s journalists to pop that illusory bubble in dramatic fashion. We’re now around two weeks out from the report that ...
Business
Nov. 17, 2022

New FTX Boss Condemns Management of the Crypto Exchange During Sam Bankman-Fried's Tenure

New FTX CEO John J. Ray III issued a scathing assessment of "unprecedented" poor management practices by his predecessor, Sam Bankman-Fried, in a series of filings in a Delaware court. Ray, who has previously supervised financial scandals such a...
Business
Nov. 17, 2022

Crypto Exchange Bitstamp Wins Registration in Spain

European cryptocurrency exchange Bitstamp has gained approval to operate in Spain from the country's central bank, adding it to its growing list of licenses across Europe. Bitstamp can now offer virtual currency exchange services for fiat curren...
Business
Nov. 17, 2022

Wells Fargo, HSBC Add Offshore Yuan to Blockchain Foreign-Exchange System

Wells Fargo (WFC) and HSBC (HSBC) expanded their blockchain-based system for settling foreign exchange transactions to include the offshore yuan. The addition of the Chinese currency that circulates outside of the mainland marks the first expans...
Business
Nov. 17, 2022

Australian Securities Exchange Cancels Blockchain-Based Clearing System at $168M Cost

The Australian Securities Exchange (ASX) has cancelled its much-delayed blockchain replacement to its aged Clearing House Electronic Subregister System (CHESS). The ASX said the decision has been taken "in light of the solution uncertainty" and ...
Business
Nov. 17, 2022

Binance to Relaunch Bid for Bankrupt Lender Voyager: Source

Binance.US , the American arm of the world’s largest cryptocurrency exchange, is preparing to bid for bankrupt lending platform Voyager Digital, according to a person familiar with the plans. A previous auction , which was completed around the...
Business
Nov. 17, 2022

Temasek Says Its FTX Investment Is Now Worth Zero

Singapore's state investment fund Temasek has written off its entire investment in FTX, saying that its overall exposure to the failed exchange is negligible compared to its broad portfolio holdings. In a statement released Thursday morning, T...
Business
Nov. 16, 2022

Bankman-Fried Praises Regulators Hours After Saying 'F*** Regulators'

Former FTX CEO Sam Bankman-Fried threw his meandering “What H-A-P-P-E-N-E-D” Twitter thread into damage control Wednesday after a Vox reporter published Twitter direct messages of him cursing about regulators – a group he famously and publicly ...
Business
Nov. 16, 2022

FTX Employees Were Encouraged to Keep Life Savings in the Now-Bankrupt Exchange, Sources Say

Retail and institutional investors weren’t the only ones to get rug pulled by FTX’s swift and stunning collapse last week. In addition to losing their jobs at the now-bankrupt exchange, many of FTX’s employees also appear to have significant amo...
Business
Nov. 16, 2022

Sam Bankman-Fried's Frequent Commenting Draws Icy Response From FTX's Restructuring Chief

Former FTX CEO Sam Bankman-Fried continues to tweet and comment frequently about what led to FTX's collapse, but his replacement as CEO is having none of it. On Wednesday, the official Twitter account of bankruptc crypto exchange FTX tweet...
Business
Nov. 16, 2022

U.S. Crypto Investors Sue FTX’s Sam Bankman-Fried, Company’s Celebrity Endorsers

Crypto investors in the U.S. have filed a class-action suit accusing FTX CEO Sam Bankman-Fried and the company’s host of paid celebrity promoters, including NFL quarterback Tom Brady , comedian Larry David, tennis player Naomi Osaka and NBA team...
Business
Nov. 16, 2022

Former SEC Official Doubts FTX Crash Will Prompt Congress to Act on Crypto Regulations

The collapse of FTX may spur more calls for regulation on Capitol Hill, Lisa Braganca, a former enforcement branch chief at the U.S. Securities and Exchange Commission, said, but she is doubtful about whether Congress will act. “I have serious...
Business
Nov. 16, 2022

Market Maker B2C2 Offers to Buy Loans From Genesis Crypto-Lending Unit

Prominent crypto market maker B2C2 has offered to purchase loans from the suddenly-struggling crypto financial firm Genesis. News broke early Wednesday that the lending arm of Genesis was pausing redemptions and new loan originations, citing t...
Business
Nov. 16, 2022

Grayscale Declares 'Business as Usual' Despite Sister Company Genesis Global Capital Suspending Withdrawals

Digital asset manager Grayscale Investments is seeking to reassure investors they will not be affected by Genesis Global Capital suspending withdrawals in the wake of FTX's collapse. Genesis Global Capital, the lending arm of crypto investment...
Business
Nov. 16, 2022

Singapore-Based Crypto Exchange Bitget Opens Operations in Brazil

This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney , one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter. Bitget, a Singapore-based crypto derivatives exchan...
Business
Nov. 16, 2022

Temasek Prepares to Write Off as Much as $300M Invested in FTX: Bloomberg

Singapore's state investment fund Temasek is preparing to write off between $200 million and $300 million which it invested in bankrupt crypto exchange FTX, Bloomberg reported Wednesday . Temasek invested in both the FTX mothership and its U...
Business
Nov. 16, 2022

Genesis’ Crypto-Lending Unit Is Halting Customer Withdrawals in Wake of FTX Collapse

The lending arm of crypto investment bank Genesis Global Trading is temporarily suspending redemptions and new loan originations in the wake of FTX’s collapse, Interim CEO Derar Islim told customers on a call Wednesday. The unit, known as Genesi...
Business
Nov. 16, 2022

Luna Foundation Guard Spent $2.8B Defending UST Peg, Third-Party Audit Finds

Luna Foundation Guard (LFG), the entity behind the collapsed Terra ecosystem, spent $2.8 billion of crypto trying to defend the peg of algorithmic stablecoin TerraUSD (UST) in May, according to a third-party audit by JS Held, a Jericho, N.Y.-...
Business
Nov. 15, 2022

Online Investing Platform BnkToTheFuture Drops Plan to Acquire Crypto Lender Salt Lending Due to FTX Exposure

The crypto contagion that was ignited by the collapse of FTX has claimed another victim: crypto lender Salt Lending. Online investing platform Bnk To The Future said it terminated its previously announced non-binding letter of intent to buy Sal...
Business
Nov. 15, 2022

Tokens of Alameda-backed DeFi Projects Maps.me and Oxygen Locked Up at FTX

Maps.me and Oxygen, two decentralized finance (DeFi) projects backed by Sam Bankman-Fried’s beleaguered Alameda Research, said in a statement that over 95% of the overall supply of their ecosystem tokens are custodied at bankrupt crypto exchang...
Business
Nov. 15, 2022

ConsenSys Economist Still Has Hope for Crypto After FTX's Fall

The implosion of crypto exchange FTX has shocked the industry financially and led to a “ confidence crisis ” in the world of digital assets, Lex Sokolin, head economist of decentralized protocols at software company ConsenSys, said. And yet ...
Business
Nov. 15, 2022

Crypto Lender BlockFi Preps For Possible Bankruptcy Filing After FTX's Woes: WSJ

BlockFi is preparing a potential bankruptcy filing thanks to its "significant exposure" to bankrupt FTX, reports the WSJ . While denying rumors that a majority of its assets were custodied at FTX, BlockFi yesterday did acknowledge significant...
Business
Nov. 15, 2022

Crypto Bank Silvergate Bucks Market Rally as FTX Exposure Is Questioned

Shares of crypto-focused bank Silvergate Capital (SI) were down about 7% Tuesday despite the broader rally in crypto-linked stocks and the overall market. Other crypto stocks including Coinbase (COIN), MicroStrategy (MSTR) and Marathon Digital (...
Business
Nov. 15, 2022

Sam Bankman-Fried Can't Stay Off of Twitter

Following a series of curious one-letter tweets over the past couple of days, ex-FTX CEO Sam Bankman-Fried has returned to typing out full sentences. "To the best of my knowledge as of post-11/7," tweeted Bankman-Fried early Tuesday afternoon,...
Business
Nov. 15, 2022

USDC Stablecoin Issuer Circle Says Businesses Can Accept Apple Pay

Merchants who accept payments in Circle's USDC stablecoin can now interact with Apple Pay, Circle said in a blog post. “NFT marketplaces, crypto gaming, crypto exchanges, crypto wallets and cross-border remittance providers can help their busi...
Business
Nov. 15, 2022

Banking Heavyweights Commence Wholesale Digital Dollar Pilot With New York Fed

A group of major banks have commenced a pilot project alongside the Federal Reserve Bank of New York to test the feasibility of using tokens representing digital dollars to improve how central bank money is settled between institutions. Citi (C)...
Business
Nov. 15, 2022

Cathie Woods’ ARK Buys 315K Shares in Grayscale’s Bitcoin Trust

Ark Investment Management purchased 315,259 shares worth about $2.8 million in the Grayscale Bitcoin Trust (GBTC) with GBTC currently trading near a record discount to net asset value (NAV) following FTX’s collapse. Grayscale and CoinDesk are b...
Business
Nov. 15, 2022

Hong Kong Crypto Exchange AAX Re-opening Hinges on Capital Raise

AAX's reopening at the end of this week depends on a capital raise and it may have to resort to legal action if that fails, the Hong Kong exchange said Tuesday. AAX temporarily shut down on Sunday , saying the failure of an unnamed "third par...
Business
Nov. 15, 2022

Liquid Global, Crypto Exchange Owned by FTX, Halts Withdrawals

Liquid Global, which was bought by crypto exchange FTX earlier this year, said it is halting all withdrawals after FTX filed for Chapter 11 bankruptcy in the U.S. In a tweet, the company said customers would not be able to take out either fiat ...
Business
Nov. 15, 2022

Solana DeFi Sees Almost $700M in Value Wiped Out on FTX Fallout

At their peak last November, decentralized finance (DeFi) applications stored more than $10 billion on the Solana network, its popularity being led by high-flying proponents including Sam Bankman-Fried, the founder of the FTX crypto exchange, M...
Business
Nov. 15, 2022

Blockchain Company AltLayer Appoints Amrit Kumar as COO

AltLayer, a layer 2 scalability blockchain built on Ethereum, said it appointed Amrit Kumar as chief operating officer. Kumar, 34, will be responsible for executing the company’s global operations strategy and supporting its aim of building cust...
Business
Nov. 15, 2022

Crypto Fund Sino Global Regrets Its 'Misplaced Trust' in FTX, Reports 'Mid-Seven' Figure Losses Tied to Exchange

Crypto fund Sino Global Capital confirmed losses tied to bankrupt exchange FTX this morning, adding it was continuing as normal. “Our direct exposure to FTX exchange was confined to mid-seven figures held in custody. Our investment into the equi...
Business
Nov. 14, 2022

FTX Hacker Panicked, Still Holds $339M in Ether, Cryptos: Arkham Intelligence

The mysterious looter of bankrupt crypto exchange FTX, who is likely an insider according to a blockchain expert, holds $339 million of digital assets that they drained from the exchange late Friday, according to crypto intelligence platform Ar...
Business
Nov. 14, 2022

Bitcoin Mining Firm TeraWulf Raised $17M of Capital in Q3, But Cash Reserves Remain Low

Bitcoin mining company TeraWulf (WULF) raised $17 million in capital in the third quarter, but its liquidity remains at $4.5 million, according to a statement on its third quarter earnings released after the market close on Monday. The $17 mi...
Business
Nov. 14, 2022

'Big Short' Author Michael Lewis Spent Months With FTX's Sam Bankman-Fried and Is Writing a Book

Best-selling author Michael Lewis may have lucked into the story of a lifetime – quite the development given he has already published a long string of hit books including “The Big Short” and “Flash Boys.” Lewis, according to a letter from Creati...
Business
Nov. 14, 2022

Crypto Lender BlockFi Updates Users on Platform, FTX Exposure

"We can no longer operate our business as usual," said BlockFi in a letter to customers viewed by CoinDesk. With FTX and all of its affiliates now in bankruptcy proceedings, said the company, the "most prudent" move for now is to pause many plat...
Business
Nov. 14, 2022

FTX Hack or Inside Job? Blockchain Experts Examine Clues and a ‘Stupid Mistake’

The beleaguered crypto exchange FTX was hit by a $600 million hack over the weekend, and at least one blockchain expert says the clues are point to a high-level insider who committed an amateur misstep that might have inadvertently revealed the...
Business
Nov. 14, 2022

Solana Foundation Invested in FTX, Held Millions in Sam Bankman-Fried-Linked Cryptos on Exchange

The Solana Foundation said Monday it has tens of millions of dollars in cryptocurrencies stranded on FTX – as well as 3.24 million common stock shares in Sam Bankman-Fried’s bankrupt crypto exchange. In a blog post , the Foundation said it held...
Business
Nov. 14, 2022

Digital Asset Manager Valkyrie Lays Off 30% of Staff: Bloomberg

Valkyrie Investments, Inc. has let go about 30% of its 23-person staff in recent weeks, according to a Bloomberg report. “Our management team did a thorough review of asset growth year to date and reviewed every employee’s role and contributi...
Business
Nov. 14, 2022

Kevin O’Leary Says Comments From Gensler Killed His Attempts to Help Save FTX

Venture capitalist Kevin O’Leary said he was looking to throw FTX a lifeline hours before the crypto exchange filed for bankruptcy, only to be thwarted by comments from U.S. Securities and Exchange Commission Chairman Gary Gensler. The exchang...
Business
Nov. 14, 2022

Bitcoin Miner Bitfarms Pays Down $27M of Debt

Bitcoin miner Bitfarms is trying to reduce its debt burden by paying down loan facilities to lower interest costs and free up collateral as the cryto market downturn puts miners' balance sheets under strain. The company repaid $15 million of a b...
Business
Nov. 14, 2022

Ikigai Asset Management Had 'Large Majority' of Assets on FTX

California-based hedge fund Ikigai Asset Management had a "large majority" of its assets on defunct crypto exchange FTX, according to the firm's chief investment officer Travis Kling. "Last week Ikigai was caught up in the FTX collapse. We had a...
Business
Nov. 14, 2022

Binance Users Withdrew $1.35B of Bitcoin in Days Following FTX Collapse

The world's largest cryptocurrency exchange, Binance experienced record levels of bitcoin, ethereum and stablecoin withdrawals alongside the implosion of rival exchange FTX. Binance saw a net 81,712 bitcoin ($1.35 billion), or more than 15% of t...
Business
Nov. 14, 2022

Visa Ends Its Debit Card Pact With FTX

Payments company Visa (V) has elected to terminate global agreements with FTX after the crypto company’s sudden collapse. “We have terminated our global agreements with FTX and their U.S. debit card program is being wound down by their issuer,” ...
Business
Nov. 14, 2022

Bitcoin Miner Cathedra Slashes Payroll Costs More Than 60% With Job, Salary Cuts

Bitcoin mining firm Cathedra Bitcoin (CBIT) slashed its payroll by almost two-thirds as it tries to tackle market headwinds that have cut the price of bitcoin (BTC) by more than 60% this year. The Canadian company is one of many bitcoin miners s...
Business
Nov. 14, 2022

Crypto Exchange PowerTrade Partners With Digital Assets Custodian Copper

PowerTrade, a crypto exchange focused on derivatives, has partnered with London-based custody firm Copper to offer custodial and settlement services for its institutional clients, the company said in a statement Monday. PowerTrade aims for the p...
Business
Nov. 14, 2022

Hong Kong Crypto Platform Hbit's $18.1M Stuck in FTX

Hong Kong-based digital asset platform Hbit Limited is unable to withdraw $18.1 million worth of cryptocurrencies deposited in the now bankrupt FTX. In an announcement to shareholders on Monday, New Huo Technologies Holdings Limited, said rega...
Business
Nov. 14, 2022

Canaan Q3 Net Income Drops 88% as Bitcoin Mining Declines

Canaan (CAN), a producer of bitcoin mining equipment, said third-quarter net income slumped 88% to 61.1 million yuan ($8.6 million) from the year-earlier period amid what it called negative market dynamics as the price of bitcoin (BTC) slipped to...
Business
Nov. 14, 2022

Crypto.com CEO Dismisses Speculation of Financial Trouble, Says FTX Exposure Is Minimal

Expect a tough crypto winter, but Crypto.com isn’t going anywhere, CEO Kris Marszalek said during a live interview hosted on its YouTube channel. Over the past week, Crypto.com ’s CRO token has dropped almost 45% on concerns the Singapore-b...
Business
Nov. 14, 2022

Binance Starts Recovery Fund for Crypto Projects Facing Liquidity Crisis

Binance CEO Changpeng "CZ" Zhao says that his exchange is setting up an industry recovery fund to help rebuild the industry. To reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund, to help projects who...
Business
Nov. 14, 2022

Crypto Token Launch Platform Tokensoft Doxes 4500 Users, Calling Them ‘Bad Actors’

California-based Tokensoft, a chain-agnostic token launch platform , has doxxed over 4000 of its users. A Tokensoft community manager with the handle “Nick G.” posted the list on the company’s discord, alleging that the named users were ‘gaming...
Business
Nov. 13, 2022

Crypto Exchange AAX Suspends Withdrawals as FTX Failure Reverberates

Crypto exchange AAX said it had suspended activity, citing a scheduled upgrade that had been delayed by turbulent markets. The failure of a third-party partner means services will be delayed for as long as 10 days, the Hong Kong-based company s...
Business
Nov. 13, 2022

All Custodial Crypto Exchanges Should Adopt Proof-of-Reserve Programs, but Even That Isn’t Enough

Last week FTX, once the third-largest crypto exchange by volume, owned and run by founder Sam Bankman-Fried (SBF), went through a meltdown. Here’s how that went down: On Nov. 2, a CoinDesk scoop showed that Alameda Research, SBF’s quantitative ...
Business
Nov. 13, 2022

Binance, Huobi Block FTT Deposits After $420M Worth of Tokens Illicitly Released

Crypto exchanges Binance and Huobi blocked deposits of FTT, FTX’s native tokens, this morning after nearly $400 million worth of the tokens were illicitly released. FTT tokens follow an unlocking schedule wherein large batches of the tokens are ...
Business
Nov. 12, 2022

FTX Hack Spooks Solana DeFi, Igniting Revolution at Alameda-Controlled Serum DEX

Sam Bankman-Fried once called Project Serum, an on-chain crypto exchange that he created, the “truly, fully trustless ” backbone of decentralized finance (DeFi) on the Solana blockchain. But trust in the fallen FTX chief’s once-mighty crypto liq...
Business
Nov. 12, 2022

For Coinbase, FTX’s Bankruptcy Has Its Pluses and Minuses

Trading volume on Coinbase plunged roughly 75% in the hours following FTX’s bankruptcy announcement early Friday, according to data from Nomics , a sign the company is beginning to feel the pain from crypto investors shrinking from the increasin...
Business
Nov. 12, 2022

Elon Musk Reveals Talks With Sam Bankman-Fried: "My Bullshit Meter Was Redlining"

Elon Musk didn’t waste any time jumping into the Twitter fray after an apparent hack of bankrupt crypto lender FTX drained hundreds of millions of dollars from company-controlled wallets. Just a couple of hours after the apparent hack began late...
Business
Nov. 12, 2022

FTX Says It Moved Remaining Funds to Cold Wallets to 'Mitigate Damage' After 'Unauthorized Transactions'

FTX US General Counsel Ryne Miller said the crypto exchange moved funds following a series of "unauthorized transactions." "Following the Chapter 11 bankruptcy filings - FTX US and FTX [dot] com initiated precautionary steps to move all digital ...
Business
Nov. 12, 2022

Crypto Fund Galois Capital Has Half of Its Capital Trapped on FTX

Crypto hedge fund Galois Capital told CoinDesk in a Telegram message on Saturday that around half of its funds are stuck on FTX, the beleaguered crypto exchange which filed for chapter 11 bankruptcy protection on Friday . The funds locked in F...
Business
Nov. 12, 2022

Here’s How Much FTX Owes Miami After Arena Sponsorship Cancellation

FTX owes Miami-Dade County, the owners of the facility formerly known as FTX arena, $16.5 million, according to a contract signed last year between the bankrupt exchange. According to the contract, the $135 million deal is amortized over 19 year...
Business
Nov. 12, 2022

FTX Crypto Wallets See Mysterious Late-Night Outflows Totalling More than $380M

More than $380 million in crypto left bankrupt crypto company FTX’s wallets late Friday, with little clear explanation as to why. According to on-chain data, various Ethereum tokens, as well as Solana and Binance Smart Chain tokens have exited F...
Business
Nov. 12, 2022

Miami HEAT Arena Balks at FTX Naming Rights, Ending 19-Year Deal Early

Hell hath no fury like a professional basketball team scorned. Mere hours after FTX filed for bankruptcy, the Miami HEAT and Miami-Dade County issued a joint statement announcing they were cutting ties with the now-disgraced Bahamas-based crypto...
Business
Nov. 11, 2022

Crypto Bank Silvergate Capital Surges on Lack of FTX Exposure

Silvergate Capital (SI) is sharply higher in after-hours action on Friday after disclosing details of its relationship with failed crypto exchange FTX. FTX's deposits with Silvergate represent less than 10% of the $11.9 billion in total deposi...
Business
Nov. 11, 2022

GameStop to End FTX.US Ties, Refund Customers

Video game retailer GameStop (GME) plans to end its relationship and its pilot gift card marketing partnership with FTX.US , after the crypto exchange filed for bankruptcy protection . GameStop, one of the key players in the meme-stock craze ...
Business
Nov. 11, 2022

Bankrupt Crypto Lender Voyager Reopens Bidding Process Following FTX’s Collapse

Bankrupt crypto lender Voyager Digital is ending the deal to sell itself to FTX US after the latter also declared bankruptcy on Friday . In September, FTX paid $1.4 billion to win a bidding war to acquire Voyager’s assets , beating out other c...
Business
Nov. 11, 2022

Meet the Metaverse Night Club–Loving Audit Firm That Presided Over FTX’s Financials

Crypto exchange FTX filed for Chapter 11 bankruptcy protection on Friday with an eleven-figure hole in its books. As observers remarked on the rapid deterioration of then-CEO Sam Bankman-Fried’s trading empire, a natural question emerged: Who w...
Business
Nov. 11, 2022

From Enron to FTX: Wall Street Turnaround Titan John Jay Ray III Takes Reins from FTX CEO Sam Bankman-Fried

John Jay Ray III, who led disgraced energy titan Enron through rocky bankruptcy proceedings and a slew of settlements in the early-mid 2000s, has taken over as CEO at beleaguered crypto exchange FTX. Now-former CEO Samuel Bankman-Fried, who led ...
Business
Nov. 11, 2022

Solana’s Wrapped Bitcoin Price Craters After FTX Shuts Exit Ramp

A Solana-based crypto asset tied to the price of bitcoin collapsed in value Friday after CoinDesk reported that FTX US – the only venue left to exchange it for real bitcoin – had frozen withdrawals. Sollet Bitcoin (soBTC), a so-called “wrapped” ...
Business
Nov. 11, 2022

FTX Withdraws US CFTC Derivatives Clearing Plan: Bloomberg

FTX's derivatives wing withdrew a proposed plan directly settle crypto derivatives products from the Commodity Futures Trading Commission (CFTC) on Friday, Bloomberg reported citing a person familiar with the matter. LedgerX, which does business...
Business
Nov. 11, 2022

FTX US Freezes Crypto Withdrawals, Sending Millions in Assets to Bankruptcy Limbo

FTX US ceased processing withdrawals around midday Friday, per the on-chain data for the exchange’s hot wallet and a source familiar with the matter. The manual shutdown occurred shortly after midday New York time, the source said. Hot wallets a...
Business
Nov. 11, 2022

US-Listed Crypto Trading Platforms Coinbase, Bakkt Gain After FTX Bankruptcy Filing

Coinbase (COIN) shares are up about almost 10% Friday while crypto platform Bakkt (BKKT) was rising almost 7% following news that Sam Bankman-Fried’s FTX had filed for bankruptcy protection . Coinbase initially fell almost 8% on the FTX bankrupt...
Business
Nov. 11, 2022

Ex-Ethereum Miners Token Hop to Stay Alive After the Merge

Only a handful of former Ethereum miners are able to survive in the post-Merge world, and some are making it by hopping from token to token. Those that are able to survive are eking out smaller profits than they enjoyed when they were mining ethe...
Business
Nov. 11, 2022

Do Not Invest in Non-Bitcoin Crypto: NYDIG's Ross Stevens

"Life is too short to do anything other than partner with people you like, trust, and would be ferociously proud to be together with in a foxhole when the bullets are flying," said NYDIG founder and Chairman Ross Stevens, explaining why his compa...
Business
Nov. 11, 2022

Crypto Investment Firm DCG Gives $140M Equity Infusion to Trading Firm Genesis

Crypto investor Digital Currency Group is giving an equity infusion of $140 million to Genesis Global Trading, a company within its portfolio. “While the operation of our lending and trading businesses has not been impacted by recent market even...
Business
Nov. 11, 2022

Crypto-Linked Stocks Tumble After FTX Files for Bankruptcy

Cryptocurrency-exposed equities plunged early Friday, reversing Thursday's modest bounce after FTX filed for Chapter 11 bankruptcy protection in the U.S. Crypto exchange Coinbase (COIN) fell nearly 8%, while shares of MicroStrategy (MSTR) – w...
Business
Nov. 11, 2022

Matrixport's BTC Fixed Income Product Affected by FTX's Collapse

Crypto services provider Matrixport's fixed income offering tied to bitcoin has been affected by the recent collapse of cryptocurrency exchange FTX. "The products of Matrixport that have been affected by the inability to withdraw from FTX are (1...
Business
Nov. 11, 2022

Scaramucci Says Investment Firm SkyBridge Is Exploring Buying Back Equity From FTX

SkyBridge's Anthony Scaramucci said the investment firm is working on buying back its equity from Sam Bankman-Fried’s FTX. In September, FTX's investment arm, FTX Ventures, agreed to buy 30% of SkyBridge for an undisclosed amount. SkyBridge’s ...
Business
Nov. 11, 2022

Troubled Crypto Lender Vauld Receives Creditor Protection Extension

Troubled cryptocurrency lender Vauld has received an extension on its creditor protection program, the lender said on Friday. The Peter Thiel-backed lender had filed for creditor protection in Singapore earlier this year. The firm received an ...
Business
Nov. 11, 2022

Here’s What FTX and Alameda Now Hold on Public Ethereum Wallets

Crypto exchange FTX and its sister trading arm Alameda Research’s wallet holdings have significantly dwindled in the past week following liquidity issues, illicit loans between each other, customer withdrawals and a market decline. FTX, which no...
Business
Nov. 11, 2022

FTX Has European License Suspended by Cyprus Regulator: Report

Cryptocurrency exchange FTX has had its license in Cyprus suspended by the jurisdiction's securities regulator following a liquidity crunch that prompted a withdrawal freeze, according to a Bloomberg report . FTX secured approval for its doma...
Business
Nov. 11, 2022

Crypto Market Maker ​​B2C2's CEO Phillip Gillespie Departs

Phillip Gillespie, the group CEO of prominent crypto market maker B2C2, has left his role and has been replaced by Nicola White, who joined the firm from Citadel Securities in 2021. Gillespie was key in SBI Financial Service's acquisition of B2C...
Business
Nov. 11, 2022

FTX Australia Calls In the Administrators: Report

FTX Australia and FTX Exchange, the Australian entities of embattled global cryptocurrency exchange FTX , appointed administrators after FTX CEO Sam Bankman-Fried failed to attend a board meeting, the Australian Financial Review reported Frida...
Business
Nov. 11, 2022

FTX's 'Effective Altruism' Future Fund Team Resigns

The team behind the FTX Future Fund, one of the exchange giant's philanthropic arms, resigned on Thursday in an open letter, posted to Twitter by journalist Teddy Schleifer The group wrote that it was "devastated that it looks like there are m...
Business
Nov. 11, 2022

Crypto Lender BlockFi Pauses Withdrawals in Wake of FTX Collapse

Crypto Lender BlockFi said it could not conduct business as normal and would be limiting activity in the wake of FTX's collapse. The company said in a tweet that the "lack of clarity" around FTX's current situation meant it would pause client wi...
Business
Nov. 10, 2022

FTX Digital Markets Assets Frozen by Bahamian Regulator: Bloomberg

Bahamian regulators have frozen the assets of FTX Digital Markets, a subsidiary of Sam Bankman-Fried's crypto empire, Bloomberg reported. The Bahamas Securities Commission is seeking a provisional liquidator for the assets, according to Bloomber...
Business
Nov. 10, 2022

Bankman-Fried’s Cabal of Roommates in the Bahamas Ran His Crypto Empire – And Dated. Other Employees Have Lots of Questions

Shocking is a word that aptly describes the rapid fall of Sam Bankman-Fried’s cryptocurrency empire . To a surprising degree, it’s a sentiment that pours out from people who worked for him, people who you’d think would’ve had a clue. How can th...
Business
Nov. 10, 2022

Coinbase Sheds Roughly 60 Jobs as Cost-Cutting Continues Amid Bear Market

Crypto exchange Coinbase Global (COIN) has laid off just over 60 people as the company continues to reevaluate its headcount amid the ongoing downturn for the industry. A Coinbase spokesperson told CoinDesk the reductions occurred on the company...
Business
Nov. 10, 2022

Revisiting MicroStrategy's Pain Points as Bitcoin Tumbles

MicroStrategy (MSTR) Executive Chairman Michael Saylor told CNBC he’s not straying from his strategy of buying and holding bitcoin ( BTC ) despite the crypto’s plunge to a new two-year low this week. Bitcoin's price tumbled below $16,000 Thursda...
Business
Nov. 10, 2022

FTX-Backed Crypto Unicorn LayerZero Bought Out Stake

In May, blockchain interoperability protocol LayerZero raised $135 million at a $1 billion valuation in a funding round that was co-led by FTX Ventures. The implosion of crypto exchange FTX – and the empire of its CEO Sam Bankman-Fried – rais...
Business
Nov. 10, 2022

FTX US Warns of Trading Halt Hours After Bankman-Fried Says It's '100% Liquid'

Crypto exchange FTX US – the U.S. wing of Sam Bankman-Fried's crypto trading empire – warned its users to close their positions as it might halt trading in the coming days. "Announcement 2022-11-10: trading may be halted on FTX US in a few days...
Business
Nov. 10, 2022

‘Never Let a Good Crisis Go to Waste’: CFTC Commissioner Calls on Congress to Act After FTX Debacle

Crypto exchange FTX’s demise may finally spur lawmakers in the U.S. to set clear regulatory guidelines for the digital asset industry, said Commodity Futures Trading Commissioner (CFTC) Commissioner Kristin N. Johnson. Johnson told CoinDesk TV...
Business
Nov. 10, 2022

Dan Loeb's Hedge Fund Third Point Among Those in Talks for $9.4B FTX Rescue

Sam Bankman-Fried has had discussions with Tron founder Justin Sun, rival crypto exchange OKX, Dan Loeb's Third Point, and a number of other investment funds as he looks to raise $9.4 billion for FTX, according to Reuters. Per the report, SBF is...
Business
Nov. 10, 2022

Top FTX Lawyer Orders Documents Preserved as Investigations Ramp Up

The top lawyer at FTX US has instructed all FTX employees to preserve their work-related documents, the latest sign of possible legal exposure for Sam Bankman-Fried’s troubled crypto empire. On Wednesday, FTX US General Counsel Ryne Miller order...
Business
Nov. 10, 2022

Indian Crypto Exchange Giottus Says It Will Provide Proof of Reserves, While Rivals Remain Silent

Giottus, a lesser-known Indian cryptocurrency exchange but among the top 10 of the nation, says it will provide customers with proof of reserves, even as the rest of India's cryptocurrency exchange industry remains silent on the matter for now. ...
Business
Nov. 10, 2022

Crypto Exchange FTX Reopens Withdrawals: Nansen

Troubled crypto exchange FTX has reopened withdrawals, according to on-chain data provided by Nansen . One user was able to withdraw $2.6 million worth of ether (ETH) while another was able to get $1.3 million of USDC out of the exchange. A to...
Business
Nov. 10, 2022

JPMorgan Sees Wave of Crypto Deleveraging From FTX’s Woes

The crypto deleveraging sparked by the apparent collapse of crypto exchange FTX and its sister company Alameda Research will be “more problematic” than earlier ones because there’s a lack of strong entities and balance sheets that could come ...
Business
Nov. 10, 2022

Wall Street Bank Jefferies Had Concerns About Sam Bankman-Fried in July

While being feted by some as this generation's J.P. Morgan – who essentially was a one-man central bank before the Federal Reserve ever came into being – Sam Bankman-Fried's attempts to be the lender of last resort to crumbling crypto companies r...
Business
Nov. 10, 2022

Fintech Firm Qenta to Go Public Through SPAC Merger

Qenta, a fintech firm that tracks precious metals using blockchain technology, will be listed on Nasdaq following a merger with special purpose acquisition company (SPAC) Blockchain Coinvestors Acquisition Corp, according to an SEC filing . Bot...
Business
Nov. 10, 2022

Cathie Woods’ ARK Buys 238K More Shares in Coinbase Exchange Amid Crypto Rout

ARK Investment Management purchased 237,675 shares in crypto exchange Coinbase (COIN) as the stock retreated amid fallout from the near-collapse of rival FTX . ARK, led by Cathie Wood, purchased over 400,000 shares in Coinbase earlier this we...
Business
Nov. 10, 2022

Tether Freezes $46M of USDT Following Law Enforcement Request

Stablecoin issuer Tether has frozen $46 million of USDT on the Tron blockchain following a request from law enforcement. "We are starting to receive requests from LE to temporarily freeze assets while investigation occur," a Tether executive t...
Business
Nov. 10, 2022

Sam Bankman-Fried Says Alameda Winding Down, Promises FTX US Customers 'Fine'

FTX CEO Sam Bankman-Fried promised to use “every penny” his crypto exchange has to repay users ahead of investors, apologizing for his “fuck up” in a tweet thread Thursday. The 30-year-old former billionaire also said Alameda Trading – his emp...
Business
Nov. 10, 2022

What Bitcoin’s Inflation Hedge Narrative Needs: More Time

For nearly a decade, crypto investors and advocates have promoted bitcoin as a hedge against inflation and a store of value against fiat currency. Due to the tokenomics behind bitcoin, many savvy investors believe that bitcoin is a hedge agains...
Business
Nov. 10, 2022

FTX to Conduct Fundraise Next Week: Reuters

Troubled crypto exchange FTX will conduct a fundraise next week, Reuters reported, citing an internal memo. The raise could end up being for FTX International and FTX US combined. The news come a day after FTX's deal to sell itself to rival Bina...
Business
Nov. 10, 2022

Michael Novogratz Tells CNBC He Does Not Except to Recover $77M Exposure Linked to FTX

Michael Novogratz, the CEO of crypto-focused financial-services firm Galaxy Digital (GLXY), told CNBC that he does not think they will be able to recover the $77 million exposure linked to troubled crypto exchange FTX. His comments come a day af...
Business
Nov. 10, 2022

Binance Releases Wallet Addresses of $69B Crypto Reserve

Binance released a list of its cold wallet and reserves a day after backing out of a deal to buy troubled crypto exchange FTX. The crypto exchange says its holds around 475,000 bitcoin ($7.8 billion), 4.8 million ether ($5.57 billion), 17.6 ...
Business
Nov. 10, 2022

FTX Has Made $34M in Trading Fees Since Recent FTT Token Burn Despite Withdrawal Freeze

Cryptocurrency exchange FTX has made $34 million in trading fees since the last time it burned its native FTT token on Oct. 31 even though customers have been unable to withdraw funds this week. Customer withdrawals were frozen following a liqui...
Business
Nov. 10, 2022

Troubled Crypto Lender Hodlnaut Had $18M on FTX Before Withdrawal Freeze

Singapore-based crypto lender Hodlnaut has been dealt another blow on its path to recovery after it emerged that it held $18 million worth of crypto on FTX, the crypto exchange that halted withdrawals earlier this week. According to a report ...
Business
Nov. 10, 2022

FTX Suspends Customer Signups After Widespread Criticism

Crypto exchange FTX has suspended new users from signing up on its trading platform following widespread criticism that was allowing onboarding despite facing liquidity troubles. "All onboarding of new clients has been suspended until further n...
Business
Nov. 10, 2022

FTX Used Customer Funds Among Other Assets to Prop up Alameda Research in May: Reuters

Sam Bankman-Fried’s trading firm, Alameda Research, suffered a series of losses from deals, according to three people familiar with its operations, Reuters reported this morning. Bankman-Fried used transferred at least $4 billion in FTX funds...
Business
Nov. 10, 2022

Without Details, Tron's Justin Sun Says He's 'Putting Together Solution' for FTX

Justin Sun, the founder of the Tron cryptocurrency network and Grenada's ambassador to the World Trade Organization, tweeted late Wednesday that he and his team were "putting together a solution" with beleaguered cryptocurrency exchange FTX, hour...
Business
Nov. 10, 2022

Helium Network Founder Pledges to Stick with Solana After Bloody Day for SOL

Helium network founder Amir Haleem tweeted his support late Wednesday for the decentralized wireless network’s migration to Solana, the blockchain ecosystem perhaps hardest-hit by FTX’s sudden implosion. “None of the criteria we used to evaluate...
Business
Nov. 10, 2022

Crypto Stocks Continue Drop as Binance Walks Away from FTX Deal

Cryptocurrency-exposed equities continued their dip Wednesday amid concerns around FTX’s financial health as Binance confirmed Wednesday afternoon that the exchange scrapped its letter of intent to buy rival exchange FTX. Shares of tech firm M...
Business
Nov. 09, 2022

A Failed FTX-Binance Deal Is ‘Catastrophic’ for Crypto Sector

Betting on Sam Bankman-Fried (SBF), the once-beloved posterboy and “white knight” of crypto was supposed to be safe. But recent events have shown that’s far from the truth. Following on the heels of the Terra ecosystem collapse, the Celsius inso...
Business
Nov. 09, 2022

SBF Warns FTX Investors of Bankruptcy Without More Cash: Bloomberg

FTX investors have been warned that the crypto exchange may be forced to file for bankruptcy protection if it doesn't get a cash infusion, Bloomberg reported Wednesday. The news follows reports that Binance balked at an earlier promise to buy th...
Business
Nov. 09, 2022

FTX Site Experiences Temporary Outage, Warns Users Not to Deposit

Cash-strapped crypto exchange FTX has added a new warning to customers in the form of a bright red banner on its FTX.com website today, warning customers that the exchange has halted withdrawals. "FTX is currently unable to process withdrawals. ...
Business
Nov. 09, 2022

StarkWare Launches Nonprofit Foundation to Fuel StarkNet Ecosystem

StarkWare, creator of blockchain scalability solution StarkNet, confirmed plans for a long-rumored token in July and the launch of an independent, non-profit foundation to promote the ecosystem’s growth. The StarkNet Foundation made its officia...
Business
Nov. 09, 2022

Binance Walks Away From Deal to Acquire FTX

Binance has scrapped its letter of intent to buy FTX, according to a Binance spokesperson. "As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we h...
Business
Nov. 09, 2022

Why Is Crypto Tanking: The FTX-Binance Drama Explained

Binance, the largest crypto exchange in the world, announced yesterday that it would purchase FTX , its main competitor – marking one of the most shocking turns of events in the history of crypto to date. Whether or not the deal goes through – ...
Business
Nov. 09, 2022

Hostaged FTX Funds Firesaled for Pennies on the Dollar in OTC Trades Among Customers

Crypto traders with remaining funds on FTX are attempting to sell their account balances for fractions of their face value. Telegram chats facilitating small over-the-counter (OTC) markets viewed by CoinDesk reveal buyers are bidding about $0.10...
Business
Nov. 09, 2022

Crypto.com Halts Solana USDC and USDT Deposits, Withdrawals

Cryptocurrency exchange platform Crypto.com has halted the flow of two top Solana ecosystem stablecoins, as the implosion of Sam Bankman-Fried’s FTX empire continues to wreak havoc across the wider crypto ecosystem. Citing “recent industry eve...
Business
Nov. 09, 2022

Binance-FTX Deal Will Bring Regulatory 'Scrutiny’ on Crypto Exchanges: Blockchain Association’s Kristin Smith

The FTX crypto exchange’s fall from grace could be the catalyst that spurs the U.S. Congress to act on passing more stringent regulation, said Kristin Smith, executive director of the Blockchain Association. Smith told CoinDesk TV on Wednesday...
Business
Nov. 09, 2022

Who Still Has Exposure to FTX?

The crypto industry is in turmoil after insolvency issues drove major exchange FTX to accept a non-binding acquisition offer from rival Binance that might not go through. FTX suspended withdrawals on Tuesday, but some peers and major traders ...
Business
Nov. 09, 2022

Alameda Research, FTX Ventures Websites Go Dark

Two websites tied to the Bahamas-based crypto exchange FTX have gone dark in the wake of the latter’s liquidity crisis and the subsequent news that it plans to be acquired by rival exchange Binance. The website for FTX Ventures , the VC arm of ...
Business
Nov. 09, 2022

Staked SOL Tokens Falter as Solana Traders, Stakers Rush for Exits

The price of staked SOL tokens are fluctuating wildly against their native asset as Solana traders swap the coins rather than gamble on the value of the cratering token they represent. The largest token issued by Lido (stSOL) was trading 7% belo...
Business
Nov. 09, 2022

Most of FTX's Legal and Compliance Team Quit: Report

The majority of FTX's legal and compliance team quit Tuesday, Semafor reported, citing people familiar with the matter. That could create a headache as the cryptocurrency exchange deals with a liquidity crisis and potential regulatory scrutiny...
Business
Nov. 09, 2022

Cross-ecosystem Platform Evmos Partners With Anchorage Digital to Offer Custody and Staking

Evmos, the connector of the Cosmos and Ethereum blockchains, is teaming up with crypto custody firm Anchorage Digital to offer access and staking of its native token, EVMOS. The partnership between Anchorage and Evmos aims to bring the inter-blo...
Business
Nov. 09, 2022

Crypto Bank Silvergate’s Stock Defended By Analysts Amidst FTX Concerns

Silvergate Capital (SI) was defended by Wall Street analysts after its shares plunged over 20% on Tuesday amidst the ongoing concerns about crypto exchange FTX. Silvergate is a crypto-focused bank with its own Silvergate Exchange Network (SEN), ...
Business
Nov. 09, 2022

Binance Is Strongly Leaning Toward Scrapping FTX Rescue Takeover After First Glance at Books: Source

Cryptocurrency exchange giant Binance is highly unlikely to go through with its proposed acquisition of struggling rival FTX after less than a day of reviewing the company, according to a person familiar with the matter. Binance’s non-binding ...
Business
Nov. 09, 2022

Binance CEO Zhao Says Planned FTX Acquisition Is Not a 'Win for Us'

Binance CEO Changpeng "CZ" Zhao wrote in a note to staff on Wednesday that the exchange's agreement to acquire rival FTX is not "a win for us." Zhao shared the memo on Twitter after the Financial Times initially reported on it . In the spi...
Business
Nov. 09, 2022

UK Asset Management Giant Abrdn Leads Archax $28.5M Funding Round

Abrdn (ABDN), one of the U.K.'s biggest asset-management firms, led a $28.5 million Series A funding round into digital asset exchange Archax, having become the firm's largest external shareholder earlier this year. The investment into the Fin...
Business
Nov. 09, 2022

Thoma Bravo Leads $70M Fundraise for Blockchain Intelligence Firm TRM Labs

Blockchain intelligence firm TRM Labs has raised $70 million in a Series B extension round led by Thoma Bravo, a private equity firm with $122 billion in assets under management. TRM Labs will use the capital, which brought total funding up to $1...
Business
Nov. 09, 2022

Ramp Raises $70M to Provide Crypto Payments Infrastructure

Ramp, a UK-based startup offering payment infrastructure to connect crypto and traditional finance, has raised $70 million in a Series B round co-led by Mubadala Capital, an arm of one of United Arab Emirates’ sovereign wealth funds, and Korelya ...
Business
Nov. 09, 2022

Crypto Finance Firm Galaxy Digital Reveals $76.8M Exposure Linked to FTX

Galaxy Digital (GLXY), the crypto-focused financial-services firm run by noted investor Michael Novogratz, said on Wednesday that is has exposure of around $76.8 million of cash and digital assets tied to troubled crypto exchange FTX. Of the $...
Business
Nov. 09, 2022

Meta Slashes Over 11,000 Jobs, 13% of Its Workforce

Facebook parent Meta Platforms (META) said on Wednesday that it has cut its workforce by 13%, letting go off of over 11,000 employees. The social media giant said the job cuts were across its Family of Apps (FoA) and Reality Labs segment. Fami...
Business
Nov. 09, 2022

Crypto Fund Alameda's Ethereum Wallet Holdings Slumped 50% Since October

Crypto fund Alameda Research holds just over $222 million in cryptocurrencies over 56 Ethereum addresses, analysis by on-chain researcher Lookonchain showed Wednesday. That's half the more than $500 million it had Oct. 1, according to data com...
Business
Nov. 09, 2022

Bernstein: Binance-FTX Deal May Attract Antitrust Regulators’ Attention

Crypto exchange Binance would have a more than 80% share of the global crypto market if the agreement to buy rival FTX goes ahead, and that could attract the attention of antitrust regulators, Bernstein said in a research report Tuesday. Binance...
Business
Nov. 09, 2022

Crypto Exchanges Scramble to Compile 'Proof-of-Reserves' as FTX Contagion Grips Markets

Crypto exchanges are now scrambling to publicly publish their fund reserves as insolvency fears grapple crypto investors following contagion risks from liquidity issues at FTX. In the past 24 hours, seven exchanges – Binance, Gate.io, KuCoin, Po...
Business
Nov. 09, 2022

Stablecoin Issuer Circle Plays Down FTX, Alameda Exposure

Circle, the firm behind stablecoin USDC, played down its exposure to crypto exchange FTX and trading firm Alameda Research, as the crypto market grapples with the fallout from FTX's fall from grace. Circle CEO Jeremy Allaire took to Twitter to e...
Business
Nov. 09, 2022

Binance Tops Up Emergency Insurance Fund 'SAFU' to $1B After BNB Volatility

Crypto exchange Binance has topped up its Secure Asset Fund for Users (SAFU) to an equivalent of $1 billion worth of various cryptocurrencies, founder Changpeng Zhao, popularly known as "CZ," confirmed in a tweet this morning. "To adjust to re...
Business
Nov. 09, 2022

Crypto Custody Firm Copper Inks $500M Insurance Deal With UK Giant Aon

Crypto custody firm Copper has arranged $500 million of insurance cover for digital assets in cold storage, one of the biggest arrangements in the industry, the company said in a statement. The cover was organized by Aon (AON), the largest U.K. ...
Business
Nov. 09, 2022

NFL Legend Tom Brady Caught in FTX Fallout, Risks Losing Complete Strategic Investment

FTX’s investors and token holders of FTT have had a rough week with the unprecedented series of events that culminated in rival Binance all set to buy the exchange. But what about National Football League (NFL) star quarterback Tom Brad...
Business
Nov. 09, 2022

Cathie Wood’s ARK Loads Up on COIN Despite FTX Crisis

Cathie Wood is doubling down on Coinbase (COIN). In an email sent from ARK’s trading desk, the fund reported that it's increasing its stake in Coinbase across its three funds: ARK Innovation, ARK Next Generation Internet, and ARK Fintech Innovat...
Business
Nov. 09, 2022

Sam Bankman-Fried No Longer a Billionaire After $14.6B Overnight Wipe-out

FTX CEO Sam Bankman-Fried has vanished from the Bloomberg Billionaires Index after his estimated personal wealth plummeted nearly 94% to $991.5 million in a single day. Binance CEO Changpeng “CZ” Zhao announced on Tuesday that he had inked a p...
Business
Nov. 08, 2022

Yuga Labs, Circle, SkyBridge Among Investments FTX Ventures Made Prior to Liquidity Issues

The venture capital arm of cryptocurrency exchange FTX has been a prominent investor in some of the biggest names in the crypto ecosystem. With Binance's possible acquisition of its rival FTX, questions swirl around what will happen to these inv...
Business
Nov. 08, 2022

Bitcoin Miner Marathon Digital Misses Q3 Revenue Estimates, Lowers Hashrate Outlook for 2022

Marathon Digital (MARA), one of the largest bitcoin miners in the world, reported third quarter revenue of $12.7 million, shy of the average analyst estimate of $23.4 million, according to FactSet data. Net loss per share was $0.72 for the quart...
Business
Nov. 08, 2022

FTX Exchange Halts All Crypto Withdrawals

Crypto exchange FTX has halted all non-fiat customer withdrawals, an FTX support employee confirmed in the company's official Telegram group Tuesday afternoon. "Any transfers besides fiat are halted," wrote the FTX Support employee. The halt h...
Business
Nov. 08, 2022

'Pharma Bro' Martin Shkreli to LUNA's Do Kwon: 'Jail Is Not That Bad'

Convicted fraudster Martin Shkreli has a message for Do Kwon, the alleged fugitive co-founder of Terraform Labs: there are worse things than jail time. During a spontaneous recording of the UpOnly crypto podcast on Tuesday, "Pharma Bro" Shkreli...
Business
Nov. 08, 2022

Japan Mobile-Phone Operator NTT Docomo to Invest $4B Into Web3

NTT Docomo, Japan's largest mobile-phone network, pledged to invest up to 600 billion yen ($4 billion) into Web3 infrastructure. The company will collaborate with Astar Foundation, the developer of the public blockchain Astar Network, and Accen...
Business
Nov. 08, 2022

FTX Agrees to Sell Itself to Rival Binance Amid Liquidity Scare at Crypto Exchange

Binance agreed to buy FTX amid a panic that caused concern FTX's cryptocurrency exchange might not survive. "Things have come full circle, and FTX.com ’s first, and last, investors are the same: we have come to an agreement on a strategic trans...
Business
Nov. 08, 2022

FTX's Bitcoin Balance Plunges to Just One

Amid concerns about the health of FTX, investors have withdrawn bitcoin (BTC) en masse, bringing the crypto exchange's balance to essentially zero. Data from Coinglass showed a bitcoin balance at FTX of just one as of press time. That balance ...
Business
Nov. 08, 2022

Crypto Venture Capital Investment Slowed Further in October: JPMorgan

October data showed a continued deceleration in the pace of crypto venture capital investment to under $1 billion a month, JPMorgan said in a research report last Thursday. The downtrend began last May following the Terra collapse, said the repo...
Business
Nov. 08, 2022

Wintermute-Backed DEX Bebop Launches on Polygon

Bebop , a decentralized exchange (DEX) incubated by crypto trading firm Wintermute, has launched on Polygon. Compared to other DEXs, Bebop has the ability to trade a basket of tokens in a single transaction, a feature the project calls its sign...
Business
Nov. 07, 2022

Bitcoin Mining Major Riot Blockchain Misses Analyst Estimates for Q3 Earnings

Bitcoin mining heavyweight Riot Blockchain (RIOT) disappointed average analysts' expectations in its third quarter. The miner generated $46.3 million in revenues, lower than the average estimate of $56.3 million, bringing net loss to $0.24, comp...
Business
Nov. 07, 2022

Bitcoin Miner Iris Energy Faces Default Claim on $103M of Equipment Loans

Bitcoin mining firm Iris Energy (IREN) is facing claims from its lender alleging that it has defaulted on $103 million of equipment loans held by two special-purpose vehicles (SPV), the company said on Monday. The reason for the notice of defaul...
Business
Nov. 07, 2022

Ethereum Apps Could Soon be Launching on Competitor Solana

Software startup Neon Labs will open its gateway for Ethereum-based crypto projects to access the competing Solana ecosystem before the year is out. Neon Labs will launch its “ethereum virtual machine” for Solana on December 12, CEO Marina Gurye...
Business
Nov. 07, 2022

US Attorney Announces $3.4B Crypto Seizure Related to Silk Road

Damian Williams, the United States Attorney for the Southern District of New York, has announced the seizure of $3.36 billion of bitcoin related to Silk Road, a darkweb marketplace. James Zhong pled guilty to committing wire fraud in 2012 aft...
Business
Nov. 07, 2022

Crypto Exchange Coinmetro Eyes US, Europe Expansion With $7M Funding Round

Digital currency exchange Coinmetro raised 7 million euros ($7 million) in a funding round that valued the business at 180 million euros, the company said Monday. Coinmetro said it plans to use the capital to scale up its operations in the U.S.,...
Business
Nov. 07, 2022

Bernstein Says Polygon Blockchain Is the Web3 King

The Polygon blockchain has emerged as the leading gateway for moving Web2 consumers to Web3, Bernstein said in a research report Friday. The system has been chosen by Starbucks (SBUX), NuBank, Reddit, Draftkings (DKNG), Robinhood (HOOD) and Meta/...
Business
Nov. 07, 2022

USDC Issuer Circle to Add Solana Support for Euro Coin in 2023

Stablecoin issuer Circle has announced that the Solana blockchain will add support for Euro Coin (EUROC), a regulated and reserve-backed stablecoin pegged to the value of the euro. Circle, known for issuing the second-largest stablecoin, USD C...
Business
Nov. 07, 2022

Stablecoin Issuer Paxos Plans to Hire at Least 130 in Singapore: Report

Paxos, issuer of the stablecoin USDP, plans to hire at least 130 people in Singapore after obtaining a license from the city-state's central bank to offer crypto products and services there, Bloomberg reported Monday . Co-founder Rich Teo sai...
Business
Nov. 07, 2022

Bitcoin Miner Hive Blockchain Holds $68M of BTC, Has no Debt Costs on Equipment

Canadian Bitcoin miner Hive Blockchain (HIVE) has 3,311 bitcoin worth $68.8 million, according to a production report released Monday. The report also revealed that Hive has no debt servicing payments in relation to its digital assets or minin...
Business
Nov. 06, 2022

Binance to Sell Rest of FTX Token Holdings as Alameda CEO Defends Firm's Financial Condition

Binance’s CEO, responding to a CoinDesk scoop about trading firm Alameda Research’s balance sheet, tweeted Sunday that he will sell the remaining FTT tokens held on his books that he took on as part of his exit from Alameda sister company FTX...
Business
Nov. 06, 2022

Bitcoin (Magic Internet Money!) Again Proves Less Volatile Than Stocks

After the smattering of U.S. central bankers who set the Federal Reserve’s interest-rate benchmark met last week , the smattering issued a press release that outlines their new monetary policy ( raising rates by 75 basis points ). Then Powell, w...
Business
Nov. 05, 2022

Solana’s SOL Spikes 15% on a Suggestive Tweet From Google Cloud

The SOL native token for Solana surged about 15% after Google Cloud tagged the blockchain’s co-founder in a tweet that suggested an important disclosure was in the offing. “Hey @aeyakovenko,” the cloud-services giant tweeted Saturday, “Shoul...
Business
Nov. 05, 2022

Helium, Building Out Mobile Network, Plans to Give Free Trials to Solana Phone Users

Nova Labs, the company behind Helium Network and a new crypto-powered cellular service called Helium Mobile, said it would provide SIM cards and free trials to customers of Solana Labs’ new Saga phones. The companies declined to disclose finan...
Business
Nov. 05, 2022

Communications Startup Dialect Issues Tech Specs for ‘Smarter Messaging’ in Crypto

Web3 messaging startup Dialect is rolling out tech specs to help crypto projects communicate between themselves, an effort the Solana-focused company hopes will morph into a standard for the industry. Dialect is calling it a “smart messaging spe...
Business
Nov. 04, 2022

Huobi Exchange Users Furious After GALA Holdings Are Converted to ‘Meme Token’

Crypto exchange Huobi delisted the GALA /USDT trading pair on Friday after a wrapped version of the token, pGALA, was temporarily rendered worthless after its issuers found a problem with its bridge code. Huobi users who bought GALA tokens ...
Business
Nov. 04, 2022

Needham's John Todaro Says USDC Is ‘Exciting’ for the Long Term and Will Benefit Coinbase

Can the dollar-pegged USDC stablecoin become the de facto U.S. central bank digital currency (CBDC), as Coinbase’s CEO predicted during the company's earnings call Thursday? Perhaps, said John Todaro, vice president at investment and asset m...
Business
Nov. 04, 2022

Coinbase's Weak Third Quarter May Not be the Bottom: Wall Street

Coinbase Global (COIN) missed earnings estimates this week – with trading volume in Q3 lower by 71% from the fourth quarter of 2021 – but interest income from USDC was a bright spot. The company reported Q3 revenue of $576 million, down from $80...
Business
Nov. 04, 2022

Fintech argentina Ualá habilita la compraventa de bitcoin y ether

Ualá, una empresa fintech con base en Argentina, habilitó el trading de bitcoin ( BTC ) y ether ( ETH ) para sus clientes de ese país. Read this article in English . Al principio, el nuevo servicio estará disponible para unos pocos miles...
Business
Nov. 04, 2022

Zero Hash da el primer paso en América Latina y comienza a operar en Brasil

Este artículo fue adaptado de CoinDesk Brasil, una asociación entre CoinDesk e InfoMoney , uno de los medios de noticias financieras más importantes de Brasil. Sigue a CoinDesk Brasil en Twitter. Zero Hash, una firma que ayuda a com...
Business
Nov. 04, 2022

Argentine Fintech Uala Launches Bitcoin, Ether Trading Feature

Uala, an Argentina-based fintech company, has enabled bitcoin ( BTC ) and ether ( ETH ) trading for its customers in that country. At first, the new service will be available to a few thousand users, Andres Rodriguez Ledermann, vice president of...
Business
Nov. 04, 2022

Crypto Firm Arca Closed Its Terra-Exposed Digital Yield Fund

Crypto hedge fund Arca shuttered its Digital Yield Fund less than a year after its launch due to the broader market downturn, a source close to the firm told CoinDesk. The fund had slightly over $20 million in assets under management at the time ...
Business
Nov. 04, 2022

Blockchain Startup Elrond Rebrands to Focus on Metaverse

Blockchain startup Elrond has rebranded itself MultiversX to reflect its pivot to metaverse exploration. Elrond will aim to build on its prior work as a layer 1 blockchain with a focus on scalability to advance Web3 technology in the form of met...
Business
Nov. 04, 2022

Terra's Do Kwon May Be in Europe: Report

South Korean prosecutors have indicated that the fugitive co-founder of Terraform Labs, Do Kwon, is in Europe, Bloomberg reported on Friday . Prosecutors also said they have obtained chat histories which point to price manipulation of the token...
Business
Nov. 04, 2022

Monkey Drainer Scammer Strikes Again, Steals $800K of NFTs

Notorious non-fungible token (NFT) scammer Monkey Drainer has stolen $800,000 worth of Crypto Punk and Otherside NFTs, according to blockchain sleuth ZachXBT . The hack was the second in as many weeks, with the prolific phishing scammer swindl...
Business
Nov. 04, 2022

Aptos CEO Defends 'Fair' Tokenomics That Prompted Community Backlash

The CEO of Aptos, the newly launched layer 1 blockchain that went live last month, has defended the project's "fair" token allocation following a wave of criticism from its community. Aptos airdropped its APT token to early network testers i...
Business
Nov. 04, 2022

Twitter Halts Work on Crypto Wallet: Report; Dogecoin Drops 4%

Social media platform Twitter has halted its plans to build a crypto wallet as part of ongoing changes kickstarted last week by its new owner, Elon Musk, the online publication Platformer wrote Thursday. "A recently revealed plan to build a c...
Business
Nov. 03, 2022

Circle Begins Putting Reserves Into New BlackRock Fund

Circle Internet Financial has begun moving the reserves for its USDC stablecoin into a dedicated fund set up by BlackRock and registered with the U.S. Securities and Exchange Commission, the company disclosed Thursday. The Circle Reserve Fund...
Business
Nov. 03, 2022

Zero Hash Launches Operations in Brazil as First Step in Latin America

This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney , one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter. Zero Hash, which helps companies offer digital asse...
Business
Nov. 03, 2022

Canadian Energy Provider Hydro-Québec Proposes Stopping Electricity Supply to Blockchain Industry

Hydro-Québec, the energy supplier of the province of Quebec in Canada, proposed to stop providing electricity to the blockchain industry to battle growing power demand, the utility company said in a new proposal . The plan doesn't explicitly me...
Business
Nov. 03, 2022

Santander UK Puts Limits on Payments to Crypto Exchanges

The U.K. unit of banking giant Banco Santander, Santander UK notified customers on Thursday of a $1,000 limit on individual transactions with crypto exchanges and a $3,000 limit on total monthly transactions. The new policy is to take effect b...
Business
Nov. 03, 2022

Jack Dorsey's Block Sees Drop in Bitcoin Revenue as Consumer Demand, Crypto Prices Slump

Fintech firm Block (SQ) reported $1.76 billion in bitcoin (BTC) revenue in its Cash App unit during the third quarter, down 3% year-over-year and lower than the $1.79 billion reported in the second quarter. Additionally, Cash App generated $37...
Business
Nov. 03, 2022

Coinbase Cuts Q3 Losses in Half to $545M

Crypto exchange Coinbase (COIN) cut its third quarter losses by 50% to $545 million from $1.1 billion in the second quarter, the company reported Thursday. But its transaction revenue continued to be significantly impacted by macroeconomic and cr...
Business
Nov. 03, 2022

UBS Prices First Bond to Be Listed, Settled on a Digital Exchange

Swiss bank UBS priced its first digital bond to yield a 2.33% coupon. The 375 million Swiss franc ($370 million), three-year bond is the first from a banking institution that will be listed, traded and settled on a digital exchange, the lender ...
Business
Nov. 03, 2022

Bitpanda Founders Set Up Own Venture Capital Firm: Report

The three founders of crypto exchange Bitpanda have set up their own venture capital firm, The Block reported Thursday. Eric Demuth, Paul Klanschek and Christian Trummer applied to set up Diamond Hand Ventures in May last year. Among its earl...
Business
Nov. 03, 2022

Bitcoin Miner Iris Energy Defended at Compass Point After Equipment Financing Woes

Iris Energy (IREN) may be able to continue operating without the burden of expensive debt, Compass Point analyst Chase White told clients in a research note Thursday. White's comments come after Iris earlier this week said some of its mining equ...
Business
Nov. 03, 2022

Goldman Teams With MSCI and Coin Metrics to Create Digital Asset Classification System

Investment bank Goldman Sachs (GS) has partnered with MSCI and Coin Metrics to launch a new digital asset classification system to better track coins and tokens to help investors and industry participants monitor the space. Dubbed datanomy, cryp...
Business
Nov. 03, 2022

Crypto Investor Protocol Ventures to Shutter and Return Cash: Report

Feeling the squeeze of the crypto winter, Protocol Ventures is said to be closing down and returning investor cash in the first quarter of 2023, Bloomberg reported . A so-called fund of funds, Protocol – which invested in Pantera, Multicoin Cap...
Business
Nov. 03, 2022

OKX Expands to the Bahamas With New Registration and Regional Office

Crypto exchange OKX has registered as a Digital Asset Business in the Bahamas and formed a subsidiary, OKX Bahamas, the company said Thursday. OKX Bahamas also opened an office in Nassau and plans to hire for 100 positions. The new Bahamian subs...
Business
Nov. 03, 2022

Stripe, Payments Processor Dabbling in Crypto, Cuts Over 1000 Jobs

Payment processing firm Stripe is cutting over 1000 jobs, or 14% of its staff, according to a memo from company CEO Patrick Collison. The startup has been leading crypto adoption in traditional payments firm, by allowing users to make payments...
Business
Nov. 03, 2022

Fidelity Opens Waiting List for Retail Crypto Product

Financial services giant Fidelity Investments has opened the waiting list for Fidelity Crypto , its crypto product aimed at retail customers. The upcoming product launch is another sign of the investment giant's interest in crypto. Fidelity Dig...
Business
Nov. 03, 2022

Venture Capital Firm Paradigm To Host Crypto Tech Event on Capitol Hill

Crypto-focused investment firm Paradigm will host its first public event on Capitol Hill on Nov. 16 to help policymakers better understand the Web3 technologies they’re attempting to regulate. Hands On Web3 will take place about a week after th...
Business
Nov. 03, 2022

Crypto Wallet Blocto Launches $3M Fund for Aptos-Based Projects

Blocto, a Mark Cuban-backed multi-chain crypto wallet and ecosystem, has announced a $3 million Aptos Ecosystem Fund to help projects onboard new users, according to a press release provided to CoinDesk. Aptos Labs, the company behind Aptos, was...
Business
Nov. 03, 2022

Bitcoin Mining Host Compute North Paid Executives $3M on the Day It Declared Bankruptcy

Executives at Compute North, an owner data centers where bitcoin (BTC) miners host their machines, received about $3 million in payroll and bonuses on the same day that the company filed for bankruptcy, a court filing shows. Compute North fil...
Business
Nov. 03, 2022

Standard Chartered Invests in JPM and DBS-Backed Blockchain Payment Network Partior

Standard Chartered (STAN) has invested in Partior, the blockchain-based payment network founded by JPMorgan (JPM), DBS Bank (D05) and Singapore government-owned investment fund Temasek. The size of the investment has not been disclosed. Neither ...
Business
Nov. 03, 2022

India's Crypto, Web 3 Industry Said to Form New Advocacy Body

India's crypto industry has formed a new advocacy body almost four months after the previous one was disbanded under cloudy circumstances , according to three people familiar with the matter who didn't want to be named since the decision has not...
Business
Nov. 03, 2022

Digital Asset Platform Bakkt to Buy Apex Crypto for up to $200M

Digital asset platform Bakkt Holdings (BKKT) said it will acquire crypto trading infrastructure firm Apex Crypto from Apex Fintech Solutions, the firm said on Thursday. Bakkt, which is majority-owned by the Intercontinental Exchange (ICE), wil...
Business
Nov. 03, 2022

Crypto Exchange Huobi Tweets Plan to Move to Caribbean

Crypto exchange Huobi Global, one of the largest cryptocurrency platforms in Asia, appeared to confirm that it plans to move to the Caribbean by retweeting a post by Justin Sun , founder of the Tron blockchain network and an adviser to the compa...
Business
Nov. 03, 2022

Did Sponsoring Stadiums Bring New Crypto Traders, or Tourists?

Last November, at the height of the bull market, Crypto.com announced it had obtained the naming rights to the stadium that houses the National Basketball Association (NBA) team Los Angeles Lakers, and on Christmas Day 2021, the venue was ren...
Business
Nov. 02, 2022

Crypto Miner Marathon Digital Mines Record 615 Bitcoin in October

Marathon Digital Holdings (MARA) mined 615 bitcoin in October, the highest monthly total in its history, showing that its struggle to bring hashrate online is behind it, the firm said in a press release on Wednesday. Asset-light Marathon, whic...
Business
Nov. 02, 2022

Crypto Exchange Coinbase's Chief Product Officer Steps Down Amid Restructuring

Crypto exchange Coinbase's (COIN) chief product officer, Surojit Chatterjee, stepped down as the company restructures its product, engineering and design teams. Chatterjee's resignation was "mutually agreed" upon and he will continue to serve Co...
Business
Nov. 02, 2022

Robinhood’s Crypto Revenue Declined 12% to $51 Million in Q3

Online trading brokerage Robinhood’s (HOOD) reported $51 million in crypto revenue in the third quarter, down 12% from $58 million in the second quarter. Robinhood announced in August that it was slashing its staff by 23%, or 780 people, to re...
Business
Nov. 02, 2022

Binance CEO Zhao Considering Buying Banks: Report

Binance founder and CEO Changpeng Zhao is looking into potentially buying banks as a way of bridging the gap between the worlds of traditional finance and crypto, according to an interview Zhao did with Bloomberg at the Web Summit conference in L...
Business
Nov. 02, 2022

Aave Community Members Vote to Deploy on zkSync v2 Testnet

Community members in the decentralized finance (DeFi) platform Aave voted on Wednesday to deploy the protocol to the zkSync 2.0 testnet. The successful vote marks the first stage of Aave's rollout to the new version of the zkSync platform, a laye...
Business
Nov. 02, 2022

Troubled Crypto Exchange Zipmex Is in Advanced Takeover Talks: Report

Cryptocurrency exchange Zipmex is in advanced discussions with venture capital fund V Ventures over the sale of a majority stake in the business, according to Bloomberg . A Zipmex spokesperson told CoinDesk that negotiations are taking place an...
Business
Nov. 02, 2022

Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet

Billionaire Sam Bankman-Fried’s cryptocurrency empire is officially broken into two main parts: FTX (his exchange) and Alameda Research (his trading firm), both giants in their respective industries. However, despite officially being separate bu...
Business
Nov. 02, 2022

Binance's Zhao Suggests Exchange Might Still Allow Russian Users

“We are not against any people," said Binance CEO Chanpeng Zhao (CZ), holding a press conference at the Web Summit in Lisbon on Wednesday. "We are against dictatorships of war, we’re not against the population, but as a business, we’re licensed i...
Business
Nov. 02, 2022

BitGo Joins Dogecoin Frenzy as Crypto Custody Firm Rolls Out a Wrapped Version

BitGo will be introducing wrapped Dogecoin (wDOGE) to the Ethereum blockchain through a partnership with wDogeDAO, the crypto custody firm announced Wednesday. Wrapping dogecoin will mean that holders will be able to use their wDOGE tokens for...
Business
Nov. 02, 2022

Evmos, Connector of Cosmos and Ethereum Blockchains, Raises $27M in Token Sale

Tharsis Labs – the core developer of Evmos, a blockchain that allows for cross-chain transactions between Ethereum and Cosmos – raised $27 million in a token sale led by Polychain Capital. The capital infusion is a sign of confidence after a bum...
Business
Nov. 02, 2022

Crypto Miner Bitdeer to Extend IPO Deadline by One Year

The deadline for completing a merger that would see crypto mining firm Bitdeer go public on the Nasdaq might be extended by up to one year, a Wednesday filing shows. Last year, Bitdeer announced that it was merging with the special purpose a...
Business
Nov. 02, 2022

Bitcoin Miner Iris Energy Says Some Machines Aren't Covering Financing Costs

Bitcoin miner Iris Energy (IREN) said some of its mining equipment, owned by special purpose vehicles, isn't producing enough cash to meet its financing obligations. The firm also said Wednesday that the equipment has a market value "well bel...
Business
Nov. 02, 2022

Coinbase’s Interest Income May Be Bright Spot Amid Challenging Third Quarter

Crypto exchange Coinbase Global (COIN) may post another weak quarter in terms of revenue and trading volumes amid tough macroeconomic conditions, but several analysts expect that interest income could be a bright spot. “For Q3, we are forecastin...
Business
Nov. 02, 2022

TradFi Firm Marex Makes Crypto Hires to Lead Digital Assets Push

London-based financial services platform Marex has made two crypto hires to lead its digital assets offering for institutional investors. Marex has hired Ilan Solot and Mark Arasaratnam as co-heads of digital assets. Solot was the former partne...
Business
Nov. 02, 2022

Cosmos Asset Management Intends to Delist Crypto ETFs in Australia

Cosmos Asset Management intends to apply to delist two of its cryptocurrency exchange-traded funds (ETFs) that trade on the Cboe stock exchange in Australia. The Sydney-based investment firm intends to delist its Purpose Bitcoin Access ETF (CB...
Business
Nov. 02, 2022

DeFi Protocol Solend Struck by $1.26M Oracle Exploit

Solana-based decentralized finance (DeFi) protocol Solend has suffered an exploit in relation to pricing oracles, resulting in $1.26 million in bad debt. The exploit was centered around the Hubble stablecoin (USDH) and affected the Stable, Coi...
Business
Nov. 02, 2022

Crypto Exchange BitMEX Cuts Staff as It Pivots Back to Derivatives Strategy

Cryptocurrency exchange BitMEX has reduced its workforce as it pivots back to focusing on derivatives trading, a spokesperson told CoinDesk. The extent of the layoffs was not revealed. A BitMEX spokesperson dismissed a report suggesting that 30%...
Business
Nov. 02, 2022

FIS Subsidiary Worldpay to Enable USDC Settlements on Polygon

Payments platform Worldpay, a subsidiary of publicly-traded FIS Group, will soon enable USD Coin (USDC) settlement for clients on the Polygon blockchain as part of a broader strategy. "We're excited to join the Polygon network as a validator and...
Business
Nov. 02, 2022

Digital Currency Group Promotes Mark Murphy to President, Cuts Nearly 13% Staff: Report

Crypto venture capital company Digital Currency Group (DCG) has promoted chief operating officer (COO) Mark Murphy to president, amid a restructure which also saw the departure of some 13% of its staff, Bloomberg reported on Wednesday . Around ...
Business
Nov. 02, 2022

Crypto Exchange Deribit Loses $28M in Hot Wallet Hack, Pauses Withdrawals

Cryptocurrency options and futures exchange Deribit has been hacked, with $28 million being drained from its hot wallet. The company tweeted that client assets have not been affected, but withdrawals have been temporarily halted as the exchang...
Business
Nov. 02, 2022

Singapore’s DBS Explains How Big Banks Can Implement DeFi, Too

Singapore has quietly been playing host to some of the most advanced explorations into cryptocurrency and decentralized finance (DeFi) ever done by big banks, institutions and regulators. In particular, Project Guardian , which sets out to test...
Business
Nov. 01, 2022

Crypto Exchange Binance to Use Twitter as Web 3 ‘Sandbox,’ Help Musk Fend Off Bots: Exec

Binance chipped in $500 million as an equity partner with Elon Musk to buy Twitter in hopes of using the social media platform as a “sandbox” to deal with Web 3 issues, according to the exchange’s chief strategy officer, Patrick Hillman. “We loo...
Business
Nov. 01, 2022

Bitcoin Miner Stronghold Digital Completes Debt Restructuring

Stonghold Digital (SDIG) closed on the seventh and final tranche of bitcoin miner deliveries to NYDIG that had served as collateral for financing agreements with NYDIG, the miner said in a Tuesday press release . This final tranche allowed for ...
Business
Nov. 01, 2022

MicroStrategy Reports Impairment Charge of $727K on Bitcoin Holdings in Q3

MicroStrategy (MSTR) posted a minimal digital asset impairment charge of $727,000 on its bitcoin ( BTC ) holdings in the third quarter, down significantly from $917.8 million in the second quarter as the price of bitcoin remained relatively sta...
Business
Nov. 01, 2022

Lender Generate Capital to Buy Bankrupt Bitcoin Miner Compute North's Stake in 2 Bitcoin Mining Facilities

Lending firm Generate Capital is buying up bitcoin mining hosting firm Compute North's stake in two mega-mining facilities for $5 million, Tuesday bankruptcy filings show. Compute North, one of the largest bitcoin mining firms in the world, d...
Business
Nov. 01, 2022

Early MakerDAO Developer and Stablecoin Pioneer Found Dead in Puerto Rico

Nikolai Mushegian, an early developer of MakerDAO, the largest decentralized finance protocol, as well as a contributor to multiple crypto projects, was found dead on Friday in San Juan, Puerto Rico, according to local news outlet El Nuevo Dia. ...
Business
Nov. 01, 2022

Crypto VC Firm CoinFund Looks to Raise $250M Seed Fund

Crypto-focused investment firm CoinFund is looking to raise $250 million for seed investments, according to new filings on Monday with the U.S. Securities and Exchange Commission. The filings come less than three months after the firm announced ...
Business
Nov. 01, 2022

DeFi Protocol Voltz Opens Door for Passive Traders With Liquidity Optimizer Vault

Providing liquidity on the decentralized finance (DeFi) interest rate swap protocol Voltz in return for rewards no longer requires active management of the position. On Tuesday, Voltz, which recently passed $120 million in cumulative trading, an...
Business
Nov. 01, 2022

Bondholders of Troubled Bitcoin Miner Core Scientific Said to Be Working With Lawyers, Bloomberg Says

A group of convertible bond holders of Core Scientific (CORZ), the largest bitcoin miner by computing power, is in talks with restructuring attorneys at Paul Hastings, reported Bloomberg Law , citing people with knowledge of the situation. Core...
Business
Nov. 01, 2022

Bitcoin Miner Argo Blockchain Loses More Wall Street Bulls After Financial Woes

Wall Street is increasingly concerned about the future of bitcoin miner Argo Blockchain. Two sell-side analysts downgraded their stock ratings this week as the London-based company faces liquidity issues during a bear market that is crushing the ...
Business
Nov. 01, 2022

DeFi Debt Marketplace Credix to Open a $150M Stablecoin Credit Pool to Digital Lender Clave

Credix Finance, a decentralized credit marketplace, unveiled a $150 million stablecoin credit pool to Clave, a digital lending platform, to originate loans to businesses and consumers in Latin America, the firms announced Tuesday. The credit f...
Business
Nov. 01, 2022

MoneyGram Debuts Crypto Purchases on Mobile App

Payments firm MoneyGram (MGI) has added a service to its mobile app allowing nearly all U.S. customers to buy, sell and hold bitcoin ( BTC ), ether ( ETH ) and litecoin ( LTC ). The company expects to grow those cryptocurrency selections over the...
Business
Nov. 01, 2022

Crypto Finance Firm Galaxy Digital to Cut One-Fifth of Workforce: Sources

Galaxy Digital (GLXY), the crypto-focused financial services firm run by Michael Novogratz, plans to cut at least 20% of its global workforce, according to four people familiar with the matter. "While our industry continues to face macroeconomic...
Business
Nov. 01, 2022

South African Supermarket Giant Pick n Pay Now Accepts Bitcoin Payments: Report

Pick n Pay, one of South Africa's largest supermarket chains, is now allowing customers to pay using bitcoin via any Lightning Network-enabled app, according to South Africa's The Times . The payment method was tested across 10 stores over the ...
Business
Nov. 01, 2022

Crypto Fund Manager Bitwise Introduces Active Trading Strategies in Institutional Push

San Francisco-based fund manager Bitwise has introduced active trading strategies, designed to capitalize on market inefficiencies across the crypto market to cater to institutional clients, according to press release. The firm has hired Jeffrey...
Business
Nov. 01, 2022

Bitcoin Miner CleanSpark Buys Another Batch of Mining Machines

CleanSpark (CLSK) has added nearly 3,900 Bitmain Antminer S19j Pro miners to its mining fleet, paying $5.9 million, or about $15.50 per terahash, the company said in a press release Tuesday morning. While a number of other miners have been in s...
Business
Nov. 01, 2022

Lending Fintech Platform SoFi's Revenue Jumped More Than 55% in Q3

Nasdaq-listed lending fintech SoFi (SOFI) said third-quarter revenue jumped more than 55% from the year-earlier quarter to $424 million. The platform, which has a digital asset trading subsidiary, also said in a filing that earnings before in...
Business
Nov. 01, 2022

Digihost Bucks Bearish Trend Among Bitcoin Miners, Remains Cash Flow Positive

Canadian Bitcoin miner Digihost (DGHI) remains debt-free and cash flow positive despite a wider downturn across the crypto mining industry, according to a press release. The Nasdaq-listed company mined 74.58 bitcoin (BTC) in October, a 78% inc...
Business
Nov. 01, 2022

Porter Finance Team Returns for Second Shot at DeFi Bonds Project

Three of the four people behind now-defunct decentralized finance (DeFi) bonds tool Porter Finance relaunched the project on Monday, months after Porter was shut due to a lack of demand from borrowers. Rebranded as Arbor Finance, the protocol ...
Business
Oct. 31, 2022

Upcoming Events Main Nav

This is a developing story and will be updated.
Business
Oct. 31, 2022

El minero de bitcoin Argo no consigue recaudar US$27M y las acciones se desploman

Argo Blockchain (ARB) afirmó que fracasó un acuerdo para recaudar 24 millones de libras esterlinas (US$27 millones) por parte de un inversor estratégico, lo que llevó a que las acciones de la compañía minera de bitcoin cayeran 72%. Read this ...
Business
Oct. 31, 2022

Coinbase-Backed Anti-Money Laundering Group Expands Into Europe

The Coinbase (COIN)-backed cryptocurrency anti-money laundering (AML) group, the Travel Rule Universal Solution Technology (TRUST), has expanded into Europe. TRUST, which was originally kick-started in the U.S. by Coinbase (COIN) with help from ...
Business
Oct. 31, 2022

Singapore-Based Digital Marketplace Alta Acquires Hg Exchange

Singapore-based digital marketplace Alta has acquired digital securities exchange Hg Exchange (HGX). Financial terms have not been disclosed for the deal which will see HGX become a subsidiary of Alta and be renamed Alta Exchange. Alta lists Ph...
Business
Oct. 31, 2022

Private Equity Giant Apollo Global Appoints Anchorage Digital as Crypto Custodian

New York-based private equity firm Apollo Global Management (APO) has chosen Anchorage Digital to become its custodian for crypto assets, according to a press release on Monday. Anchorage, which became the first federally chartered crypto ban...
Business
Oct. 31, 2022

Pantera Leads $10M Funding Round for StarkNet-Based Crypto Wallet Braavos

Crypto wallet Braavos has raised a $10 million round led by crypto-focused investment giant Pantera Capital. Other investors in the round included Road Capital, BH Digital, DCVC, Crypto.com , Matrixport, and StarkNet creator Starkware, which was...
Business
Oct. 31, 2022

AMD, Seagate and EY Join Protocol Labs-led Decentralized Storage Alliance

Protocol Labs, the company behind the decentralized file-sharing protocol Filecoin, announced an alliance that aims to help more companies make the transition to Web3 from Web2. The industry organization has a trio of heavy-hitters as founding p...
Business
Oct. 31, 2022

DeFi Lender Arco Protocol, Launched on Aptos Blockchain, Goes Dark After Botched Fundraise

Arco Protocol, a cross-chain decentralized finance (DeFi) platform on the newly-launched Aptos blockchain, has gone offline following a botched fundraise. Arco, which offer lending and staking services, intended to raise funds on Oct. 29 in an i...
Business
Oct. 31, 2022

Metaverse Project WeMade Put on 'Caution' List in South Korea After Releasing Inaccurate Token Data

WeMade, a South Korea-based gaming and metaverse project, was put on an “investment caution” list by the country's crypto exchanges after releasing figures that misrepresented its token supply. WeMade said it accidentally left some tokens out of ...
Business
Oct. 31, 2022

Bitcoin Miner Argo's $27M Fundraise Falls Through; Shares Plunge

Bitcoin mining company Argo Blockchain's (ARB) deal to raise $27 million from a strategic investor has fallen through, according to an update posted on the London Stock Exchange. Earlier this month Argo signed a letter of intent (LOI) to sell...
Business
Oct. 31, 2022

After Huobi Delisting Stablecoin HUSD Falls 72% From Dollar peg

The once popular HUSD stablecoin has fallen dramatically from its $1 peg, dropping to a low of 28 cents after crypto exchange Huobi announced that it delisted the asset on Friday. Huobi said that users can still exchange HUSD tokens for Tether...
Business
Oct. 30, 2022

Can You Believe It? Bitcoin Looks Stable – Green, Even – as Big Tech Stocks Fall Apart

Sometime in the (Eastern time zone) evening on July 25, 2021, was the start of a magical run for bitcoin, punctuated by a late night 5% jump (noted by the yellow arrow in chart below). Bitcoin was in the mid-$30,000s range at the time, but by Nov...
Business
Oct. 29, 2022

Dogecoin Replaces Cardano as 6th Largest Cryptocurrency

Lately Dogecoin (DOGE) has been behaving more like a greyhound and less like the Shiba Inu that represents the meme-based cryptocurrency. The price of DOGE has increased 150% from $0.0594 to $0.15 since Tuesday – with the price surging 74% in th...
Business
Oct. 28, 2022

Visa Files Trademark Applications for Crypto Wallets, NFTs and the Metaverse

Payments giant Visa (V) filed two trademark applications to the United States Patent and Trademark Office (USPTO) related to digital wallets, NFTs and the metaverse. Part of one of the applications applies for trademarks related to software for ...
Business
Oct. 28, 2022

El CEO de Binance confirmó su participación como inversor en la compra de Twitter

Binance confirmó el viernes que será inversor en la compra del servicio de microblogging Twitter (TWTR) del multimillonario empresario tecnológico Elon Musk. Read this article in English . “Estamos emocionados de poder ayudar a Elon a im...
Business
Oct. 28, 2022

Los NFTs no dejan de crecer en América Latina en medio de un auge cripto

En medio de numerosas crisis financieras y políticas en los últimos años, los ciudadanos latinoamericanos encontraron en las criptomonedas una poderosa herramienta para hacer frente a la inestabilidad. Ahora, los tokens no fungibles (NFTs) están ...
Business
Oct. 28, 2022

Troubled Bitcoin Miner Core Scientific's Shares Continue to Plunge on Bankruptcy Risk

The shares of Core Scientific (CORZ), the largest bitcoin miner by computing power, continued to plummet on Friday after it warned investors this week that it may have to explore bankruptcy if it fails to improve its financial condition. Shares...
Business
Oct. 28, 2022

NFTs Are Going Big in Latin America Amid a Crypto Boom

With an increasing number of financial and political crises in recent years, Latin American citizens have found in crypto a powerful tool to cope with the instability. Now, non-fungible tokens (NFT) are booming in the region, with the goal of sol...
Business
Oct. 28, 2022

Crypto Hedge Fund Arca Nearly Doubles Sales for Flagship Fund Despite LUNA Exposure

Arca, a crypto hedge fund with around $500 million in assets under management, came close to doubling sales of its flagship fund in one year, even after telling investors it had been exposed to the Terra ecosystem, which collapsed in May . The ...
Business
Oct. 28, 2022

Crypto Exchange Coincheck Plans to List on Nasdaq in July 2023

Japanese crypto exchange Coincheck is planning to complete its listing on Nasdaq via a merger with special purpose acquisition company ( SPAC ) Thunder Bridge Capital Partners IV on July 2, 2023. The merger was first slated for March of this ye...
Business
Oct. 28, 2022

Tether’s Paolo Ardoino Discusses Lugano’s ‘Plan B’ Bitcoin Progress

LUGANO, SWITZERLAND – Appearing at the opening panel of Lugano’s Plan B Forum alongside the city’s Mayor Michelle Foletti, Tether CTO Paolo Ardoino says bitcoin adoption there is “working well.” Seven months after the two teamed up to bring wide...
Business
Oct. 28, 2022

Hodlnaut Judicial Managers Say They Face Hurdles in Determining Financial Situation

The Singapore-court-appointed managers of Hodlnaut, a crypto lender that froze withdrawals in August , said they are facing significant difficulties in determining an accurate financial position of the company. "Among other reasons, the compan...
Business
Oct. 28, 2022

WisdomTree's Q3 Crypto Assets Under Management Falls 36% to $178M

New York-based asset manager WisdomTree's (WETF) average crypto asset holding fell 36% yoy to $178 million in the third quarter of this year, according to Friday's earnings report . At the end of the third quarter last year, WisdomTree reported...
Business
Oct. 28, 2022

Crypto Dominates the Worst ETF Debuts: FT

Cryptocurrency exchange-traded funds (ETFs) account for five for the worst seven debuts in ETF history, according to Morningstar Direct data, the Financial Times reported on Friday . The five funds were all linked to the performance of crypto o...
Business
Oct. 28, 2022

Blockchain Venture Firms to Invest $100M in Busan for Ecosystem Development

A group of blockchain venture capital firms agreed to invest $100 million over three years to establish a blockchain ecosystem in South Korea's second-largest city, Busan. EOS Network Foundation, OKX Blockdream Ventures, AlphaNonce and others si...
Business
Oct. 28, 2022

Binance’s CZ Confirms Participating as Equity Investor in Musk’s Twitter Takeover

Binance confirmed on Friday that it was as an equity investor in billionaire technology entrepreneur Elon Musk's takeover of microblogging service Twitter (TWTR). "We're excited to be able to help Elon realize a new vision for Twitter,” Binance ...
Business
Oct. 28, 2022

Elon Musk Finally Closes Deal to Purchase Twitter, CNBC Reports.

Tesla (TSLA) CEO Elon Musk, the world's richest man, has finally closed his deal to buy social media platform Twitter (TWTR) CNBC reported , citing sources. The deal's closure faced a deadline of this Friday at 5 p.m. ET when a previously-postpo...
Business
Oct. 27, 2022

El éxito de Reddit resalta el potencial de los NFTs, según Coinbase

Los tokens no fungibles (NFTs, por sus siglas en inglés) de Reddit se llevaron toda la atención en los mercados de criptomonedas de esta semana luego de generar US$2,5 millones en volumen de operaciones diarias e impulsar que 3 millones de person...
Business
Oct. 27, 2022

Digital Bank Revolut to Allow Customers to Make Purchases With Crypto Balances

Digital banking firm Revolut is adding a crypto spending feature that will enable customers to use their crypto balance to pay for everyday purchases using their Revolut card. The service will be available starting on Nov. 1, and for a limited t...
Business
Oct. 27, 2022

Crypto Exchange Huobi Delists Its HUSD Stablecoin

Crypto exchange Huobi Global is cutting ties with its closely linked stablecoin, the troubled asset HUSD. In a notice to users , Huobi, the top trading venue for the $219 million market-cap stablecoin, cited its rules for performing “regular in...
Business
Oct. 27, 2022

Bain Capital Crypto Leads $3.3M Round for Privacy-Focused Identity Protocol

Notebook Labs, a new startup that aims to verify the identities of crypto users without compromising privacy, has raised $3.3 million in a seed funding round led by Bain Capital Crypto. The funds will go toward building out the development team, ...
Business
Oct. 27, 2022

Embattled Crypto Platform Freeway’s ‘Billion-Dollar Man’ Isn’t the Insurance Titan He Claims to Be

Embattled crypto staking platform Freeway appears to have a problem beyond just being forced to freeze withdrawals and its nearly worthless FWT token . Its bridge to traditional finance – Joel Krueger, which the company touted as its “billio...
Business
Oct. 27, 2022

Developer of Decentralized Ride-Sharing App Teleport Raises $9M in Bid to Compete With Uber, Lyft

The Decentralized Engineering Corporation (DEC), which developed ride-sharing app Teleport, has raised $9 million in seed funding in a bid to compete with established ride-sharing apps such as Uber and Lyft. DEC, a software developer, will use t...
Business
Oct. 27, 2022

Crypto Investing Startup Started by Goldman Alum Changes Strategy

Crypto investing startup Domain Money, which was founded by Goldman Sachs veteran Adam Dell, is revising its business strategy, according to a document posted to the startup’s website. The startup, which has raised $33 million in funding , wa...
Business
Oct. 27, 2022

Most Crypto Scams on BNB Chain, Solidus Labs Says

Nearly 12% of all BEP-20 tokens, the standard token on BNB chain, are tied to scams, according to recently released research from crypto risk monitoring firm Solidus Labs. “While some of the big rug pulls and scams make the news, like the famous...
Business
Oct. 27, 2022

Crowdfunding Platform StartEngine to Acquire Rival SeedInvest From Circle

Crowdfunding platform StartEngine has announced that it is acquiring rival platform SeedInvest from Circle, best known for the USDC stablecoin , pending approval from the Financial Industry Regulatory Authority (FINRA). “SeedInvest was acquired...
Business
Oct. 27, 2022

Coinbase Says Reddit’s Success Highlights the Potential for NFTs

Reddit non-fungible-tokens (NFTs) have dominated conversation in cryptocurrency markets this week after they generated $2.5 million in daily trade volume and prompted 3 million people to sign up for NFT wallets on the social media platform, Coinb...
Business
Oct. 27, 2022

Bear Market Didn’t Slow Institutional Interest in Crypto, Says Fidelity Survey

Asset management giant Fidelity has made stronger moves into crypto over the past month. The firm’s Fidelity Digital Assets division will open up ether (ETH) trading for institutional clients on Oct 28. In late September Fidelity launched a new...
Business
Oct. 27, 2022

Crypto Platform Team Finance Suffers $14.5M Exploit

Crypto liquidity provider Team Finance suffered a $14.5 million exploit, the firm said on Thursday. The platform has paused all activities in the wake of the exploit, it said in a tweet. Team Finance joins a slew of crypto firms that have ex...
Business
Oct. 27, 2022

Core Scientific to Suspend Payments as Cash Dwindles

The world's largest bitcoin miner, Core Scientific (CORZ), said it anticipates that existing cash resources will be depleted by the end of the year, possibly sooner. The company will not make payments due in late October and early November 20...
Business
Oct. 27, 2022

Crypto Exchange FTX Is Working on Creating a Stablecoin: Report

Cryptocurrency exchange FTX is working on creating a stablecoin, CEO Sam Bankman-Fried told The Big Whale in an interview. Further details were not available on the website, which is behind a paywall. A stablecoin is a crypto token whose valu...
Business
Oct. 26, 2022

Dogecoin Soars as Elon Musk's Twitter Deal Nears Completion

Popular meme coin dogecoin ( DOGE ) was up nearly 16% over the past 24 hours as billionaire Elon Musk's purchase of Twitter approached the finish line. The Tesla founder's $44 million deal is supposed to close Friday. Musk has been a major sup...
Business
Oct. 26, 2022

Blockchain.com May Raise Money at Significant Discount to Previous Valuation: Bloomberg

Blockchain.com , the cryptocurrency financial-services company that was valued at $14 billion when raising capital early this year, might only fetch $3 billion to $4 billion in a new funding round, Bloomberg reported, citing sources it didn't ...
Business
Oct. 26, 2022

Billionaire Quant Trader Donates a Record $1.9M of Bitcoin to a Super PAC

Jeffrey Yass is the billionaire co-founder of giant trading firm Susquehanna International Group (SIG) and also a political mega donor: he and his wife are the 2022 elections’ fifth-biggest contributors – right behind crypto titan Sam Bankman-Fri...
Business
Oct. 26, 2022

Facebook Parent Meta Misses Revenue Estimates for Metaverse Division in Q3, Expects Losses to Grow in 2023

Meta Platforms (FB) reported third-quarter revenue of just $285 million in its Facebook Reality Labs (FRL) division, which comprises its augmented and virtual reality operations, according to its earnings report released Wednesday. That was w...
Business
Oct. 26, 2022

Los rollups de layer 2 de Ethereum reducen los costos, pero se subestiman sus riesgos

No es ningún secreto que Ethereum puede ser extremadamente lenta y costosa. La blockchain se volvió prácticamente inservible para la mayoría de las personas justo en el pico máximo del ciclo más reciente, cuando algo tan simple como cambiar un to...
Business
Oct. 26, 2022

Bloomberg Beta Leads $6.2M Funding for DAO Framework Origami

Decentralized autonomous organizations (DAOs) are blockchain-based groups organized around a shared idea or project and are often governed by a native crypto token. Making the transition from pre-launch community group to a funded, growth-stage e...
Business
Oct. 26, 2022

Crypto Ad Spending Slowdown Contributes to Google’s Soft Quarter

Google (GOOG) reported its softest advertising growth in nine years, with company management taking note of softer crypto ad spending as contributing to the weak numbers. "We did see a pullback in spend by some advertisers in certain areas in se...
Business
Oct. 26, 2022

Crypto Exchange SushiSwap Approves Restructuring, Will Create Three Firms for DAO

The decentralized autonomous organization (DAO) behind crypto exchange SushiSwap has approved a legal structuring with an overwhelming majority. The Sushi DAO community passed the proposal, which has proposed earlier this month, on Wednesday...
Business
Oct. 26, 2022

Crypto Exchange Gate.io is Latest to Sign MoU with South Korean's Busan

Crypto exchange Gate.io today signed a Memorandum of Understanding (MoU) with the South Korean city of Busan to develop blockchain infrastructure jointly in the city. The agreement intends for Gate.io to leverage its expertise to assist Busan i...
Business
Oct. 26, 2022

A16z's Largest Crypto Fund Loses 40% Value in First Half of 2022: Report

Andreessen Horowitz's (a16z) flagship crypto fund has cratered by a more than 40% loss in the first half of this year, the Wall Street Journal reported, citing people familiar with the matter. The venture capitalist firm established its fourt...
Business
Oct. 26, 2022

Bitcoin Miner Compass to Host 27MW Worth of Mining Rigs at Solar-Powered Startup

Bitcoin mining hosting and brokerage services firm Compass Mining will place 27 megawatts (MW) worth of bitcoin miners at the Texas facility of solar-powered mining startup, Aspen Creek Digital Corp. (ACDC). Compass will host about 9,000 Antmine...
Business
Oct. 26, 2022

Gaming DAO Merit Circle to Burn Nearly $170M Worth of MC Tokens

Play-to-earn gaming decentralized autonomous organization (DAO) Merit Circle has voted to burn nearly $170 million worth of its native MC tokens. The burn will see 200 million MC token taken out of circulation, out of MC's total supply of 1 bill...
Business
Oct. 26, 2022

Swiss-Based Crypto Bank SEBA Offers Custody for 'Blue Chip' NFTs

Crypto bank SEBA has extended its digital asset custody services to blue chip, or premium, non-fungible tokens (NFT) including Bored Apes and CryptoPunks. The Zug, Switzerland-based bank is aiming to provide its customers with a secure service f...
Business
Oct. 25, 2022

Phishing Scammer Has Drained $1M in Crypto and NFTs in Past 24 Hours, Says On-Chain Sleuth

A phishing scammer known as Monkey Drainer has stolen the equivalent of about 700 ether worth roughly $1 million in crypto and NFTs in the past 24 hours, according to a prominent on-chain sleuth known as ZachXBT. 1/ Over the past 24 hrs ~700 ET...
Business
Oct. 25, 2022

Bitcoin Miner CleanSpark Hikes 2022 Hashrate Guidance by 10%

Bitcoin miner CleanSpark’s (CLSK) stock outperformed peers on Tuesday, after the company raised its year-end hashrate or computing power guidance to 5.5 exahash per second (EH/s) from 5 EH/s. Helped by a surge in bitcoin (BTC) back above $20,000...
Business
Oct. 25, 2022

Crypto Stocks Soar as Bitcoin Rallies to Retake $20K

Bitcoin ( BTC ) has risen nearly 5% to above $20,000 for the first time in about three weeks, and ether ( ETH ) is ahead just shy of 11% to its highest price since the Merge, leading a broad rally in cryptocurrencies and related stocks. Among na...
Business
Oct. 25, 2022

Digital Asset Data Provider Amberdata Acquires Crypto Analytics Company Genesis Volatility

Amberdata, a provider of digital asset data to financial institutions, has acquired Genesis Volatility (GVol), a crypto options and derivatives analytics firm. The purchase will allow Amberdata to expand its decentralized finance (DeFi) products...
Business
Oct. 25, 2022

Bloomberg's Matt Levine Writes 40,000-Word Article on Crypto

Bloomberg Businessweek published a 40,000-word article on cryptocurrencies by the news organization's popular financial columnist Matt Levine, who – amid one of the worst downturns in the industry's 14-year history – offered praise of the good ...
Business
Oct. 25, 2022

BNB Chain Introduces $10M Fund to Incentivize Project Growth on the Blockchain

BNB Chain , one of the world's most actively used blockchains by daily active users , has introduced a $10 million fund to help projects with user acquisition and growth, a company representative told CoinDesk. The program, known as the Growth...
Business
Oct. 25, 2022

Standard Chartered-Backed Zodia Custody Offers Crypto Ownership Proofs for Institutions

Zodia Custody, the cryptocurrency storage offering backed by Standard Chartered and Northern Trust, has released an identity toolset that can help institutions easily prove ownership of crypto held in custodial wallets. Zodia’s “Proof-of-Owner...
Business
Oct. 25, 2022

BitMEX CEO Alexander Hoeptner Departs From Crypto Exchange: Report

The CEO of crypto exchange BitMEX, Alexander Hoeptner, has left the firm, according to a report by the Block . The firm's CFO Stephan Lutz has been appointed as interim CEO, the report added. Hoeptner had joined BitMEX in late 2020. Before B...
Business
Oct. 25, 2022

S. Korean Prosecutors Request Eight Year Prison Sentence for Ex-Bithumb Chairman on $70M Fraud Charges

South Korean prosecutors have asked the court to sentence Lee Jung-hoon, the former chairman Bithumb Holdings, which operates South Korean crypto exchange Bithumb, to eight years in prison on $70 million fraud charges. The trial took place on Oc...
Business
Oct. 25, 2022

Celsius Once Solicited Donations for Ukraine. Here’s What Happened Next.

Celsius executives, in the throes of bankruptcy, are accused by critics of siphoning off money and ensuring that the C-suite gets a payout before creditors. But when it comes to Celsius’s fundraising campaign for Ukraine, did the funds – inte...
Business
Oct. 25, 2022

Cathie Wood’s ARK Fintech Innovation ETF Buys More Coinbase

ARK’s Fintech Innovation Fund (ARKF) has added 10,880 shares of Coinbase to its holdings, bringing its holdings of the stock up to $60.5 million or roughly 8% of the fund’s weight. This would represent ARK’s first purchase of Coinbase stock sinc...
Business
Oct. 24, 2022

Apple Refuses to Exempt NFTs From App Store’s 30% Fee

Apple has rejected calls to exempt NFTs from its 30% “Apple Tax” on in-app purchases. The tech giant codified its rules for iOS apps that handle non-fungible tokens (NFT) on Monday with its first formal green light on offering in-app NFT minti...
Business
Oct. 24, 2022

Cathie Wood Still Holds Bitcoin She Purchased Years Ago at $250

Appearing on Peter McCormack's 'What Bitcoin Did' podcast, Cathie Wood said she purchased $100,000 worth of bitcoin ( BTC ) when it was trading around $250 (which would suggest sometime in 2015). She said she hasn't sold any of that initial inves...
Business
Oct. 24, 2022

La comunidad MakerDAO aprueba la propuesta de custodia de USDC de Coinbase

Como era de esperarse tras las primeras ganancias de la semana pasada, la comunidad MakerDAO aprobó la propuesta de custodia de US$1600 millones en USD Coin ( USDC ) con Coinbase Prime. Read this article in English . “Esta propuesta de c...
Business
Oct. 24, 2022

Struggling Bitcoin Miners are Flocking to Maple Finance’s $300M Lending Pool

Bitcoin miners are queuing up to borrow from a special purpose decentralized finance (DeFi) lending pool created by Maple Finance, as a stressed out crypto industry explores creative ways to get through the bear market. Since Maple and credit ag...
Business
Oct. 24, 2022

Bank of America rebaja calificación de Meta a neutral en medio de su incursión en el metaverso

Bank of America rebajó a neutral la calificación de la empresa matriz de Facebook, Meta (META), debido a la probabilidad de que la presión por el gasto en publicidad aumente el próximo año y resulte en recortes de presupuesto, afirmó el banco en ...
Business
Oct. 24, 2022

MakerDAO Community Approves Coinbase USDC Custody Proposal

As expected given the early returns last week, the MakerDAO community has approved a proposal to custody as much as $1.6 billion in USD Coin ( USDC ) with Coinbase Prime. "This proposed collaboration with Coinbase (COIN) follows an approved sign...
Business
Oct. 24, 2022

Crypto Exchange Bybit Spends $3.8M on Bithumb Shareholder T-Scientific's Convertible Debt

Cryptocurrency exchange Bybit said it invested 5.5 billion won ($3.8 million) in T-Scientific, the third-largest shareholder in South Korean crypto exchange Bithumb. Singapore-based Bybit bought almost a third of the 16 billion won of convertibl...
Business
Oct. 24, 2022

Crypto Mining Data Center Firm Soluna Tumbles After Capital Raise

Shares of Soluna Holdings (SLNH) are down 43% to $1.03 early Monday after the company's Friday evening announcement of a secondary offering. The stock is now lower by 90% year-to-date. Soluna sold 1,388,889 shares at a price of $1.44 each, raisi...
Business
Oct. 24, 2022

El exchange de criptomonedas Bit2Me adquiere la empresa de desarrollo de software Dekalabs

El exchange español Bit2Me dijo que compró la compañía de desarrollo de software centrado en blockchain y criptomonedas Dekalabs por un monto no revelado. Read this article in English . La adquisición reforzará la posición de Bit2Me a la...
Business
Oct. 24, 2022

Fireblocks Furthers Push Into Payments With Tools Suite Launch

Fireblocks has launched a suite of tools to facilitate customer and vendor adoption of cryptocurrency payments regardless of their location, according to a Monday press release. The Fireblocks Payments Engine will allow the company’s clients to ...
Business
Oct. 24, 2022

Tel Aviv Stock Exchange to Set Up Platform for Digital Assets

The Tel Aviv Stock Exchange (TASE), Israel's sole public trading platform for equity and debt, is looking to set up a blockchain-based digital asset trading platform, according to a strategy document published Monday. Establishing the platform...
Business
Oct. 24, 2022

FTX to Compensate API Phishing Victims With as Much as $6M

Cryptocurrency exchange FTX has agreed to reimburse victims of this weekend's phishing attack with up to $6 million, according to the exchange's CEO Sam Bankman-Fried. The phishing scam was in relation to 3Commas, a trading-bot platform that int...
Business
Oct. 24, 2022

Coinbase Says It’s Wary of Suggested Changes to ATOM’s Monetary Policy

Cosmos’ revamped roadmap attempts to position interchain security as the core application of the Cosmos Hub, with the introduction of liquid staking and the possible monetization of shared security, Coinbase said in a research report dated Thursd...
Business
Oct. 24, 2022

Crypto Exchange Bit2Me Acquires Software Development Company Dekalabs

Spanish cryptocurrency exchange Bit2Me said it bought blockchain and crypto-focused software development company Dekalabs for an undisclosed amount. The acquisition will enhance Bit2Me's position in helping companies and institutions build tools...
Business
Oct. 24, 2022

Ripple’s Director of Engineering Leaves Firm as XRP Turns 10

Ripple’s chief engineer announced over the weekend that he is leaving the company to chart new horizons, which he chose not to reveal. “My decade-long journey at Ripple has been a fantastic (if exhausting and all-consuming) one. I got to work o...
Business
Oct. 23, 2022

Crypto Means Absolutely Nothing Without Censorship Resistance

Censorship resistance is fundamental to any functioning cryptocurrency or blockchain project. It’s been a pillar of crypto from the start, one of the biggest reasons the whole movement got started. What it means is this: As long as a participant ...
Business
Oct. 21, 2022

Core Scientific Again Raises Bitcoin Mining Hosting Rates

The world's largest bitcoin miner, Core Scientific (CORZ), raised its rates for hosting other companies' machines to just under 10 cents per kilowatt hour, two sources familiar with the matter told CoinDesk. It's the latest price hike for Core S...
Business
Oct. 21, 2022

Pension-Backed Parataxis Digital Yield Fund Targets $500M in Assets in 2023

Multi-strategy crypto investment firm Parataxis Capital expects to triple the assets under management for its $35.6 million digital yield fund by the end of the year, with a further ambitious target of $500 million by the end of 2023, co-founde...
Business
Oct. 21, 2022

Creadores de NFTs basados en Ethereum recibieron más de US$1800M en regalías, según Galaxy Digital

Los creadores de colecciones de tokens no fungibles (NFT , por sus siglas en inglés) basados en Ethereum recibieron más de US$1800 millones en regalías hasta la fecha, según un informe publicado el viernes por la empresa de criptomonedas Galaxy...
Business
Oct. 21, 2022

Coinbase to Significantly Benefit From $1.6B Transfer of MakerDAO's USDC, Analyst Says

Coinbase Global (COIN) will significantly benefit from the potential transfer of about $1.6 billion in USDC from MakerDAO to Coinbase Prime, Oppenheimer analyst Owen Lau said in a research note to clients. A Maker Improvement Proposal submitted...
Business
Oct. 21, 2022

Argentina desmantela una instalación ilegal de minería de criptomonedas y detiene a 40 personas

La Administración Federal de Ingresos Públicos (AFIP), en colaboración con el gobierno de la provincia de Buenos Aires, arrestó a 40 personas tras 70 allanamientos en los que desbarató una instalación ilegal de minería de criptomonedas, según an...
Business
Oct. 21, 2022

Argentina Dismantles Illegal Crypto Mining Operation, Apprehends 40