The CEO of crypto exchange FTX has rejected calls for its law firm Sullivan & Cromwell to be replaced as lead counsel in its bankruptcy case. John J. Ray III, who was appointed as the new FTX CEO on Nov. 11, filed a court motion on Jan. 17, arguing that Sullivan & Cromwell has been
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Ripple CEO Brad Garlinghouse expects the firm’s long-running dispute with the Securities Exchange Commission (SEC) will be finalized within “single-digit months” and remains confident in securing a favorable outcome. Speaking to CNBC on Jan. 18 at the World Economic Forum in Davos, Switzerland, Garlinghouse said the verdict could come as soon as June this year
Japan has reportedly urged other countries, including the U.S., to regulate crypto exchanges like they do banks. A top official at the Financial Services Agency explained that the recent FTX implosion wasn’t brought on by crypto technology but by “loose governance, lax internal controls, and the absence of regulation and supervision.” Bank-Level Cryptocurrency Regulations Japan’s
While the second-largest crypto asset by market capitalization, ethereum, has risen 27% against the U.S. dollar in the last two weeks, the network’s average and median-sized gas fees have increased by more than 50%. On the first day of 2023, the average fee to spend ether was around $2.93 per transfer, but today the average
Cryptocurrency exchange Bitzlato, better known to the Russian-speaking segment of the market, has been taken down as part of an “international cryptocurrency enforcement action,” the U.S. Justice Department announced. The Russian owner of the platform has been arrested for his role in the alleged transmission of illicit money. Bitzlato claimed it was hacked. US, France
The Egyptian central bank recently claimed that its decision to devalue the local currency has been vindicated by foreign investors’ return to the country’s foreign market where they reportedly poured in $925 million in just three days. The surge in the sales of Egyptian treasury bills that mature in a year or less similarly is
Noncustodial peer-to-peer crypto exchange Bitzlato was little known to some before the United States Department of Justice (DOJ) enforcement action against it on Jan. 18. It was cofounded in 2016 by recently arrested Russian national, Anatoly Legkodymov. According to a Russian source, Anatoly Legkodymov is the owner of 73.4% of Bitzlato, which has an office
According to a shareholders’ letter from Digital Currency Group (DCG) viewed by finance and crypto publication Coindesk, the company has suspended dividends until further notice. This news follows the U.S. Securities and Exchange Commission (SEC) charging a subsidiary firm of DCG, Genesis Global Capital, with operating an “unregistered offer and sale of securities to retail
Ethereum (ETH) price is struggling to overcome resistance at $1,600 and this is the altcoin’s third attempt since September 2022. Some would say the 33% year-to-date rally could be interpreted as a failed opportunity to breach the $200 billion market capitalization mark. If Ethereum price were to break above $1,600, it would return Ether to
The United States producer price index (PPI) fell 0.5% for the month, which was much more than the 0.1% decline estimated by economists surveyed by Dow Jones. The largest monthly decline since April 2020 was also aided by a sharp drop in energy prices. Another report showed that the retail sales data dropped 1.1% in
Following an update from FTX debtors about the $5.5 billion discovered by administrators during an investigation, former FTX CEO Sam Bankman-Fried (SBF) took to Twitter to share a blog post from his Substack newsletter. SBF stated that the presentation published by litigation firm Sullivan & Cromwell is “extremely misleading” and that FTX US is solvent
press release PRESS RELEASE. 2022 is an extraordinary year for the crypto industry, and it is also a year of struggle for both institutions and users. For CoinEx, 2022 was also a special year – quite a few crypto platforms collapsed overnight, and the panic continued as the market went through disruptive changes in Q3
Bitcoin (BTC) price and the wider crypto market corrected as news of coordinated “international cryptocurrency enforcement action” stirred up uncertainty among traders. Given the number of black swan events and the proliferation of crypto-oriented scams in 2022, most investors expect United States and global regulators to eventually lay down a strong hammer on centalized exchanges
The United States Department of Justice is expected to announce a “major international cryptocurrency enforcement action.” According to a Jan. 18 announcement, U.S. Deputy Attorney General Lisa Monaco will lead a press conference in which the Justice Department will announce a major enforcement action — now believed to be against the crypto firm Bitzlato. The
After the collapse of major cryptocurrency exchange FTX in November 2022, former CEO Sam “SBF” Bankman-Fried was arrested by Bahaman authorities on Dec. 12. Just a day later, the United States Securities and Exchange Commission and Commodity Futures Trading Commission filed charges against him for allegedly defrauding investors and violating securities laws. On Dec. 22,
Shiba inu surged to a multi-month high on Wednesday, as the meme coin collided with a key price ceiling. Prices rose by as much as 17% in today’s session, as the global cryptocurrency market cap also trended higher. Polkadot was once again in the green, with the token hovering close to a two-month high of
Bitcoin (BTC) set yet another multi-month high before the Jan. 18 Wall Street open as United States macroeconomic data fell far wide of expectations. U.S. PPI numbers fall wide of the mark Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking to $21,646 on Bitstamp. A subsequent correction saw the pair moving around $21,400
On Jan. 17, 2023, FTX Trading Ltd. and affiliated debtors updated the public and detailed that the firm’s current administrators have discovered $5.5 billion of liquid assets to date. Top-level executives, including the new FTX CEO and chief restructuring officer, John J. Ray III, met with the bankruptcy case’s committee of unsecured creditors to share
South African Reserve Bank (SARB) governor Lesetja Kganyago highlighted issues surrounding the introduction of central bank digital currencies (CBDCs) at the World Economic Forum (WEF) 2023, held in Davos, Switzerland. In a WEF 2023 panel discussion dubbed “In the Face of Fragility: Central Bank Digital Currencies” Kganyago voiced his opinions on CBDCs and questioned if
Name: Mason Versluis — aka “Crypto Mason” Anonymous: No Twitter followers: 146.2K Known for: Garnering over 1 million followers on social media before he could legally drink in the United States Who is this guy anyway? Mason Versluis may only be 22 years old, but he’s already a full-time crypto influencer thanks to his wise