While the FTX saga continues to make headlines, last week brought a plethora of new troubles for crypto companies in the United States, Europe and Asia. The United States Securities and Exchange Commission charged cryptocurrency lending firm Genesis Global Capital and crypto exchange Gemini with selling unregistered securities through Gemini’s “Earn” program. The Commodity Futures…
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On Jan. 5, 2023, the state of New York and attorney general Letitia James filed a lawsuit against Alex Mashinsky, the co-founder and former CEO of Celsius. The lawsuit claims that Mashinsky and Celsius defrauded “hundreds of thousands of investors, including more than 26,000 New Yorkers, out of billions of dollars worth of cryptocurrency.” Former…
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Alex Mashinsky’s actions leading up to Celsius declaring bankruptcy allegedly contributed to investor losses by misrepresenting the platform’s financial condition. New York Attorney General Letitia James has filed a lawsuit against Alex Mashinsky, alleging the Celsius founder and CEO made numerous “false and misleading statements” which led to investors losing billions. In a Jan. 5…
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Roberto Campos Neto, president of the Bank of Brazil, explained the role that the Brazilian central bank digital currency (CBDC), the digital real, might play in the future of personal finance. At an event, Neto explained the concept of “open finance,” showing a “super app” that featured PIX (a payments network) functionality, and also integration…
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Mayor of New York City Eric Adams took a supportive, if somewhat veiled, stance on the partial crypto mining ban imposed in the state. A law signed by fellow Democrat and New York Governor Kathy Hochul temporarily limits the minting of digital currencies using fossil fuels. New York Mayor and Bitcoin Supporter Eric Adams to…
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Adams said New York is still focused on becoming a crypto hub, but statewide efforts to reduce emissions can be combined with this goal. New York City mayor Eric Adams is still focused on making New York a crypto hub, but he believes that goal can be combined with statewide efforts to curb environmental costs…
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A moratorium on some crypto mining operations relying on carbon-based energy has been signed into law in New York. Businesses engaged in proof-of-work mining in the state will not be able to expand or renew their permits for the next two years as a result of the ban, which is likely to have consequences for…
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The NYAG clarified that digital assets differ from blockchain technology, and it has no issues with citizens purchasing stakes in publicly traded blockchain-based businesses in retirement accounts. The turmoil surrounding crypto exchange FTX and Sam Bankman-Fried (SBF) reaffirmed regulators’ belief about the need for stricter oversight across the crypto ecosystem. Seeking investor protection against a similar…
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The FTX bankruptcy has left creditors, investors and industry experts questioning what will happen next — Here is what we can expect. Collapsed crypto exchange FTX and 130 affiliates filed for bankruptcy in Delaware on Nov 11. Chaos followed as a number of FTX creditors, investors and industry experts began to question what would happen…
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A source with knowledge of the investigations reportedly said New York authorities were looking into the collapse of FTX following the firm declaring bankruptcy on Nov. 11. Prosecutors with the United States attorney’s office in the Manhattan district of New York have reportedly begun investigating the fall of crypto exchange FTX. According to a Nov.…
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