New York Attorney General Letitia James filed a lawsuit against cryptocurrency companies, alleging $1 billion in fraud. James alleges that cryptocurrency trading companies Gemini Trust Company, Genesis Global Capital, LLC, its affiliates and Digital Currency Group (DCG) are guilty of defrauding more than 230,000 investors. James’s investigation alleged that Gemini lied to investors about a … Read more
In this issue of the Bloomberg Crypto newsletter, Michael P. Regan sorts through a load of crypto dirty laundry: Crypto, almost from the beginning, has been a magnet for criticism. And the list of the most common knocks against it is long. Yet rarely have real-world examples of its assorted risks and vulnerabilities piled up … Read more
By Ankur Grover The past decade has witnessed a seismic shift in the landscape of cryptocurrencies. In a remarkably short span of time, digital assets have catapulted into the mainstream, capturing the attention of investors, technologists, and financial institutions alike. What began as a niche movement has now evolved into a global phenomenon, fueled by … Read more
More than two years have passed since Africa’s biggest economy banned licensed banks from engaging in cryptocurrency-related activities as a means to clamp down on a surge of unregulated transactions. Yet, despite such regulatory limitations, Nigeria’s crypto market has defied the odds and consolidated its status as a key transactional vehicle in the sub-Saharan nation. … Read more
Caroline Ellison, the former chief executive officer of Alameda Research, arrived in court ahead of her testimony for the Sam Bankman-Fried trial, making her first public appearance since Alameda and FTX collapsed into bankruptcy a year ago. Ellison arrived as Gary Wang, the co-founder of FTX, was under cross-examination by Bankman-Fried’s lawyers. Ellison, who was … Read more
Business Of Sports If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. From media and technology to finance and … Read more
The mythology surrounding the rise of the world’s largest crypto exchange is impressive. However, a Forbes investigation reveals that Binance’s 2017 initial coin offering was a flop, that it quietly took advantage of to amass a lucrative crypto warchest. By Javier Paz, Forbes Staff PART I As Sam Bankman-Fried, the disgraced founder of its former … Read more
Recently, Elon Musk labeled fiat currency a “scam,” adding further debate to discussions about the relevance of crypto Bitcoin vis-à-vis conventional financial systems. See below for all the details. Elon Musk: bold statements on fiat currencies, what is the role of crypto Bitcoin? As anticipated, in one of his usual bold and provocative posts, Tesla … Read more
Trading volume on Binance.US is evaporating as the cryptocurrency exchange’s fight with US regulators intensifies. As of August, monthly trading volume has declined 98% from January 2022, according to researcher CCData, and is on track to drop further in September. The American operations of Changpeng Zhao’s crypto empire had $115.7 million in volume through Sept. … Read more
Three high-profile endorsers of the failed FTX cryptocurrency exchange – including NFL quarterback Trevor Lawrence – agreed to settle claims they helped dupe investors who lost billions in the meltdown of Sam Bankman-Fried’s digital-asset empire. The proposed agreements with Lawrence, a star for the Jacksonville Jaguars, and YouTube influencers Kevin Paffrath and Tom Nash were … Read more