Search Results for: collapse of FTX

US Federal Trade Commission Investigates Marketing Schemes of Crypto Firm Voyager

by

According to a court document filed recently in the Voyager Digital bankruptcy case, the U.S. Federal Trade Commission (FTC) is investigating the marketing of the crypto firm. Like the U.S. Securities and Exchange Commission (SEC), the FTC has objected to Binance…

Kraken CEO: Regulators Let Bad Guys Get Big and Blow Up to Serve Their Agenda

by

The CEO of crypto exchange Kraken, Jesse Powell, says U.S. regulators “let the bad guys get big and blow up because it serves their agenda.” The executive explained: “Bad guys operate with huge competitive advantages. They suck up users, revenue, and…

Report: FTX Promised High Earnings to African Students That Successfully Recruited Fellow Learners

by

The collapsed crypto exchange FTX reportedly used the lure of high earnings to convince African university students to become its ambassadors. In addition to encouraging new FTX investors to use the platform, student ambassadors were also required to teach them about…

Stablecoin Market Sees Supply Increase for Tether as Competitors Decline in Light of Recent Regulatory Developments

by

While the stablecoin market has seen significant redemptions in the past three months, the supply of tether, the largest stablecoin by market capitalization, has increased by 2.46 billion since mid-November 2022. Tether is the only one of the top five stablecoins…

Iris Energy Boosts Self-Mining Capacity With 4.4 EH/s of New Bitmain Bitcoin Mining Rigs

by

Bitcoin miner, Iris Energy, announced plans to increase the company’s self-mining capacity, from 2 exahash per second (EH/s) to approximately 5.5 EH/s, after it receives 4.4 EH/s of new Antminer S19j Pro miners from Bitmain. Iris Energy Leverages $67 Million in…

Binance Halting US Dollar Deposits and Withdrawals via Bank Accounts

by

Global crypto exchange Binance is suspending deposits and withdrawals in U.S. dollars via bank accounts starting Wednesday as more and more banking institutions try to reduce their exposure to the crypto market. “We are working hard to restart service as soon…

Britain Announces Plans for ‘Robust’ Crypto Rules, Launches Consultation

by

The U.K. has unveiled “ambitious plans” to “robustly regulate” various crypto activities, while seeking to protect customers and grow its economy. In the next three months, British authorities will accept public feedback on the new regulatory proposals designed to govern digital…

Alameda Research Seeks $446 Million Over Alleged ‘Preferential Transfers’ to Voyager Digital

by

On Monday, Alameda Research Ltd. filed a legal complaint against Voyager Digital LLC and HTC Trading Inc. in the U.S. bankruptcy court. The complaint alleges the defendants received preferential transfers of property from Alameda Research and the plaintiffs are seeking to…

US Senator Focused on Crypto Money Laundering Crackdown — Urges Congress, Regulators to Take Action

by

U.S. Senator Elizabeth Warren has called on Congress to ensure regulators, such as the Securities and Exchange Commission (SEC), have the tools to regulate the crypto industry effectively and crack down on crypto money laundering activities. “The current legal structure essentially…

Crypto Association in Turkey Vows to Block Exchanges That ‘Victimize Traders’

by

A new organization has been established in Turkey with the aim to monitor and help develop the country’s crypto sector, local media reported. Its first task will be to address recent problems with some cryptocurrency exchanges and boost confidence in the…