Search Results for: Federal Deposit Insurance Corporation

Binance Halting US Dollar Deposits and Withdrawals via Bank Accounts

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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…

FDIC Issues Crypto-Related Cease and Desist Orders to 5 Companies Including FTX US Exchange

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The Federal Deposit Insurance Corporation (FDIC) has sent a cease and desist letter to five companies, including crypto exchange FTX US. CEO Sam Bankman-Fried explained that FTX does not have FDIC insurance, stating: “We never meant otherwise, and apologize if anyone…

Billionaire Mark Cuban Sued for Allegedly Promoting a Massive Crypto ‘Ponzi Scheme’

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Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, is facing a class action lawsuit for promoting Voyager Digital’s crypto products. The plaintiffs claim that Voyager was “a massive Ponzi scheme” and Cuban “duped millions of…

Fed Board, FDIC Order Voyager Digital to Retract Federal Deposit Insurance Claims

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Following Voyager Digital’s application for bankruptcy protection during the first week of July, Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board today issued a joint letter to the company demanding a cease and desist against Voyager’s FDIC claims. The…

US Treasury Launching Cryptocurrency Awareness Program

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The U.S. Department of the Treasury is launching a cryptocurrency awareness program. “We’re just trying to raise awareness without trying to stamp out new technology and new innovation,” said an official of the Treasury. Treasury’s Efforts to Raise Crypto Awareness The…