CHEYENNE, Wyo. (AP) — The Federal Reserve Board has denied a Wyoming cryptocurrency bank’s application for Federal Reserve System membership, officials announced Friday, dealing a setback to the crypto industry’s attempts to build acceptance in mainstream US banking. Many in crypto have been looking to Cheyenne-based Custodia Bank’s more than 2-year-old application as a bellwether … Read more
Tyler Winklevoss, chief executive officer and co-founder of Gemini Trust Co., left, and Cameron Winklevoss, president and co-founder of Gemini Trust Co., speak during the Bitcoin 2021 conference in Miami, Florida, US, on Friday, June 4, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images Cameron Winklevoss and Barry Silbert were both early believers in … Read more
CNN — Elizabeth Holmes was sentenced to more than 11 years in prison on Friday following her conviction in January for defrauding investors while running the failed blood testing startup Theranos. Judge Edward Davila imposed a sentence of 11 years and three months in prison, with another three years of supervision after Holmes is released. … Read more
The imploding cryptocurrency trading firm FTX is now short billions of dollars after experiencing the crypto equivalent of a bank run. The exchange, formerly one of the world’s largest, sought bankruptcy protection last week, and its CEO and founder resigned. Hours later, the trading firm said there had been “unauthorized access” and that funds had … Read more
SAN FRANCISCO–(BUSINESS WIRE)–Nov 1, 2022– Bitwise Index Services, the indexing subsidiary of Bitwise Asset Management, today announced the results of the monthly reconstitution of the Bitwise Crypto Indexes, which took place on October 31, 2022, at 4 pm ET. There was one change to the constituents of the Bitwise 10 Large Cap Crypto Index as … Read more
NEW YORK (AP) — Kanye West once suggested slavery was a choice. He called the COVID-19 vaccine “the mark of the beast.” Earlier this month, he was criticized for wearing a “White Lives Matter” T-shirt to his collection at Paris Fashion Week. Now the rapper who is legally known as Ye is again embroiled in … Read more
The crypto industry is looking for good news much like the rest of the asset classes in these times of concern about the health of the economy. For a long time, cryptocurrency evangelists have claimed that bitcoin (BTC), the largest digital currency, can be used to hedge against inflation, since you know exactly what the … Read more
PARIS — Celsius and Voyager Digital were once two of the biggest names in the crypto lending space, because they offered retail investors outrageous annual returns, sometimes approaching 20%. Now, both are bankrupt, as a crash in token prices — coupled with an erosion of liquidity following a series of rate hikes by the Federal … Read more
Celsius filing for bankruptcy this week surprised virtually no one. Once a platform freezes customer assets, it’s typically all over. But just because the fall of this embattled crypto lender didn’t come as a shock, it doesn’t mean it wasn’t a really big deal for the industry. In October 2021, CEO Alex Mashinsky said the … Read more
It’s been a brutal stretch for the crypto market, and a hard time for cryptocurrency investors to keep their emotions in check. The sector’s market cap collapse was led by terraUSD, one of the most popular US dollar-pegged stablecoins, which imploded virtually overnight. But bitcoin and ethereum, too, saw massive price declines from their recent … Read more