Crypto’s Shakespearian drama has yet to cease, the latest resulting in an open feud between Gemini crypto exchange founder Cameron Winklevoss and Digital Currency Group (DCG) Chief Executive Barry Silbert. The turbulence could wash out recent crypto price gains. The Players The New York-based crypto exchange Gemini is run by the Winklevoss twins. DCG, one…
Dan Schulman, CEO and Chairman of PayPal, said that the “time is now” for cryptocurrency in December 2020. Schulman predicted that digital currencies would quickly enter the mainstream, even becoming a major day-to-day payments technology. He says that the coronavirus pandemic has “pushed those trends ahead by anywhere from three to five years [and] by…
As the chaotic, volatile, financially violent year of 2022 draws to a close, we examine the state of the game in Bitcoin. Bitcoin markets have been quiet in recent weeks, perhaps owing to the holidays. Bitcoin (BTC) hit a record high of more than $68,000 in November of 2021. It started 2022 at a little…
Michael Saylor, a bitcoin maximalist and the former CEO of the business analytics company MicroStrategy, believes Ethereum could be facing a major crash in the near future on par with the TERRA stablecoin collapse which essentially disappeared overnight. Saylor has been a vociferous Bitcoin maximalist, favoring Bitcoin and only Bitcoin. MicroStrategy, under his leadership, bet…
Former basketball star Shaquille O’Neal, who appeared in a commercial for FTX earlier this year, is trying to distance himself from FTX and the crypto industry as a whole. O’Neal has not revealed how much money he received for appearing in a FTX commercial this past June. O’Neal told CNBC his friendship with fellow NBA…
On Monday, Bermuda-based Jewel Bank announced Jewel Bank will create a stablecoin with full backing known as Jewel USD (JUSD). The bank will serve digital asset firms worldwide, providing basic banking, payments, and settlements, according to the press release issued June 7. Jewel Bank received Bermudas Banking and Financial Services Authority (BMA) approval…
Three U.S. senators have asked the CEO of Silvergate to disclose details of the Silvergate Bank’s connection with bankrupt FTX. Warren and two other senators sent a letter last week to Lane raising questions about the security precautions that the La Jolla-based Silvergate Capital has in place. Also, a class-action lawsuit claims crypto bank Silvergate…
Mazars, a global accounting firm, will cease working with the crypto industry. The exit of the French firm from the cryptocurrency markets comes as customers and investors demand greater transparency of the cryptocurrency exchanges they use following FTX’s bankruptcy. Investors are turning their attention to the largest cryptocurrency exchange, Binance, after the latter delivered a…
Former President Donald Trump’s collection of non-fungible tokens (NFT) digital trading cards sold out early Friday, a day after it was originally released. Trump unveiled on Thursday a limited-edition set of trading cards for the NFT, featuring comic-book-like images of himself depicted as superheroes, Hollywood actors, and others, after teasing an announcement of great…
Amid the U.S. Senate hearings on the FTX crash this week, Sens. Elizabeth Warren (D-Mass) and Roger Marshall (R-Kan) introduced the Combating Digital Assets from Money Laundering Act, targeting the crypto sector with a series of proposed regulations dubbed by critics as tyrannical and unconstitutional. The bill effectively kills the golden goose. The new legislation has…