It has been a tumultuous year for the cryptocurrency industry, from the crash in prices to the FTX fiasco. But a new study finds that this has not discouraged many young investors from parking their disposable income in crypto. According to a new Crypto State of the Industry Report by brokerage firm tastyworks, Generation Zers…
Despite 2022 Market Collapse, Young Investors Still Bullish on Cryptocurrencies: Study
FTX Collapse Heightens Anxiety Over Binance
After the FTX collapse, Binance co-founder and CEO Changpeng Zhao is grappling with challenges on numerous fronts. As the industry deals with the high-profile fallout from FTX, billions of dollars are fleeing Binance, one of the world’s largest cryptocurrency exchanges. Further, Zhao has recently come under fire for being responsible for the FTX’s collapse, and…
Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers: Senate Hearing
December 14, 2022
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The Senate Committee on Banking, Housing and Urban Affairs will conduct a hearing entitled “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers.” at 10:00 a.m. ET on Dec. 14. The webcast hearing will be held in the Dirksen Senate Office Building G50. Witnesses: Professor Hilary J. Allen, American University Washington College…
Binance Withdrawals Surge to $3 Billion in 24 Hours as Crypto Industry Trembles Amid FTX Fallout
December 14, 2022
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Billions of dollars have flowed out of Binance, one of the leading cryptocurrency exchanges in the world, as the industry struggles with the high-profile fallout of FTX. Binance’s 24-hour net outflow hit $3 billion, according to a Dec. 13 tweet by blockchain data firm Nansen. The exchange reported more than $62.5 billion in disclosed holdings….
Global Stocks Gain, Dollar Drops Ahead of Fed Rate Decision
December 14, 2022
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LONDON/SINGAPORE—Global stocks eked out small gains and the dollar slipped on Wednesday on hopes that central banks will stop raising interest rates in early 2023 following the latest U.S. data that showed a slowdown in inflation. Yet nervousness about the next moves by policymakers kept gains in check ahead of a Federal Reserve meeting later…
FTX Founder Sam Bankman-Fried Denied Bail in Bahamas After Arrest, Faces up to 115 Years in Jail
December 14, 2022
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Sam Bankman-Fried, the owner of the failed cryptocurrency exchange FTX, has been denied bail after his arrest in the Bahamas at the request of the U.S. government on Monday. In a hearing that lasted more than three hours on Tuesday, Chief Magistrate Joyann Ferguson-Pratt ruled that Bankman-Fried’s $250,000 bail request would be denied on the basis that Bankman-Fried…
FTX Founder Bankman-Fried Denied Bail in Bahamas After Arrest, Faces Up to 115 Years in Jail
December 14, 2022
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Sam Bankman-Fried, the founder and former CEO of the failed cryptocurrency exchange FTX, has been denied bail after his Dec. 12 arrest in the Bahamas at the request of the U.S. government. In a hearing that lasted more than three hours on Dec. 13, Chief Magistrate Joyann Ferguson-Pratt denied Bankman-Fried’s $250,000 bail request, citing a heightened flight risk…
FTX Boss Sam Bankman-Fried Denied Bail in Bahamas After Arrest, Faces up to 115 Years in Jail
December 14, 2022
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AmericasBusiness & MarketsCompaniesCrime and IncidentscryptocurrencyeconomyFTXMarketsSam Bankman-FriedUSUS Newswire fraudWorld
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Sam Bankman-Fried, the owner of the failed cryptocurrency exchange FTX, has been denied bail after his arrest in the Bahamas at the request of the U.S. government on Monday. In a hearing that lasted more than three hours on Tuesday, Chief Magistrate Joyann Ferguson-Pratt ruled that Bankman-Fried’s $250,000 bail request would be denied on the basis that Bankman-Fried…
Gold Is Better Portfolio Diversifier Than Bitcoin: Goldman Sachs
Goldman Sachs expects gold, with its real demand drivers, to outperform the highly volatile bitcoin in the long term, the bank wrote in a Monday research note. Gold is less likely to be influenced by tighter financial conditions, meaning it is “a useful portfolio diversifier,” said Goldman, especially given that gold has developed non-speculative use…
LIVE NOW: US Attorney Discusses Charges Against FTX Founder Sam Bankman-Fried
December 13, 2022
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U.S. Attorney for the Southern District of New York Damian Williams discusses charges against FTX founder Sam Bankman-Fried. Speakers Damian Williams, United States Attorney for the Southern District of New York Michael J. Driscoll, Assistant Director-in-Charge, FBI New York Gurbir Grewal, Director of Enforcement, Securities and Exchange Commission Gretchen Lowe, Acting Director of Enforcement for…
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