Davos: Top central bankers agree on need to regulate ‘crazy’ crypto markets January 18, 2023 Some of the world’s top central bankers today emphasized the need for introducing basic regulations for cryptocurrencies, but they remained equally wary that new rules could lend legitimacy to an industry that has been very unstable over the past year. The central bank chiefs agreed on the need for a basic level of crypto regulation, [...]
Crypto: What to expect as world leaders gather in Davos January 16, 2023 The future of global crypto regulation is set to fall into the spotlight at Davos this week as regulators and policy makers scramble to shore up the industry in the wake of FTX’s collapse last year.
Crypto lender Nexo has 15 sites raided by police in Bulgaria January 12, 2023 Bulgarian prosecutors have launched an investigation into alleged illegal activities conducted by cryptocurrency lender Nexo, they said on Thursday, raiding more than 15 sites in the capital Sofia. The announcement comes after Nexo said in December it would phase out its U.S. products and services over the coming months due to clashes with regulators. “In Sofia, active [...]
FTX: Crypto exchange’s bankruptcy team recovers over £4bn in boost for burnt customers January 12, 2023 Collapsed crypto exchange FTX has recovered more than £4.1bn ($5bn) in assets, its bankruptcy team said yesterday, as the firm scrambles for cash to cover the billions of dollars lost by customers and investors. FTX, founded by disgraced former billionaire Sam Bankman-Fried, was valued at $32bn just over a year ago but imploded in early [...]
FTX: Now UK investors are caught up in collapse of crypto trading platform January 11, 2023 Thirteen investors caught up in the collapse of cryptocurrency trading platform FTX have made fraud reports to UK police. FTX filed for bankruptcy on November 11 after it was alleged that then-chief executive Sam Bankman-Fried, 30, had illegally diverted massive sums of customer money from the company to a second firm that he owned, Alameda [...]
Aggressive institutional investors pushing into digital assets set to replace retail players January 10, 2023 Institutional investors are set to replace retail investors as the major holders of digital assets in 2023, according to new research shared with City A.M. today. More than 7 out of 10 of professional investors believe institutions will hold 60 per cent of digital assets within seven years, reversing the current status where institutions hold [...]
Bitcoin millionaires ‘drop like flies’ as FTX fallout shakes crypto market January 9, 2023 The number of bitcoin millionaires has plunged and scammers have filled their boots in the past year as the market is gripped by a ‘crypto winter’, brought on by soaring inflation and a string of high profile bankruptcies.
Narrow Escape: Sam Bankman-Fried released on $250m bail December 23, 2022 Disgraced FTX co-founder Sam Bankman-Fried avoided prison on Thursday after posting a $250m recognised bond before awaiting trial for charges of fraud and money laundering. The US attorney’s office for the Southern District of New York has charged Bankman-Fried with eight criminal counts, including fraud and money-laundering offences. The previously heralded crypto hero reportedly used [...]
Crypto in 2022: It wasn’t all bad December 22, 2022 This year was turbulent, even by crypto standards. If the past twelve months have taught us anything it’s that crypto is still far from a mature asset class and time may be running out for the industry to prove itself as a functional and beneficial cog in our financial system. There are a number of [...]
Sam Bankman-Fried extradited to the US December 21, 2022 Sam Bankman-Fried will be extradited to the US to face criminal charges for the demise of cryptocurrency exchange FTX after a judge in the Bahamas approved his transfer. In a hearing on Wednesday morning, Bankman-Fried’s legal team told the court that the former crypto executive agreed to extradition to the US, waiving his right to [...]