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…
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…
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…
A Japanese lawmaker asked for more clarity on cryptocurrency regulation after an industry watchdog failed to alert consumers about the potential for problems around FTX’s native coin, FTT, when it approved the token for a listing earlier this year. “It will become more and more important to ensure transparency for consumers when there are any…
Binance, the world’s biggest cryptocurrency exchange, said that it had temporarily stopped withdrawals of USDC stablecoin, while blockchain data company Nansen said on Tuesday that Binance saw a $2.6bn in withdrawals over the past 24 hours, marking the biggest single day outflow over the 24 hours since June 13, accounting for most funds pulled over…