U.S. regulators on Sunday announced they were closing Signature Bank, marking the second U.S. bank to fail days apart and the third-largest bank failure in U.S. history. According to a December 2022 securities filing, N.Y.-based Signature Bank held more than $110 billion in assets and some of the biggest stakes among banks in the nation in…
Regulators Announce Closure of NY’s Signature Bank, Which Held Significant Crypto Stakes
America Is Losing the Crypto Space-Race, Interests Argue Over How to Regulate
The cryptocurrency world is rapidly evolving, with new developments emerging almost daily. However, America is in danger of falling behind its global competitors, according to Coinbase Chief Legal Officer Paul Grewal. During Thursday’s hearing of the House Subcommittee on Digital Assets, Financial Technology, and Inclusion, Grewal emphasized the importance of the crypto industry while accusing…
Sovereign Cryptocurrency: A Grim Future of Control
Commentary Sovereign digital currency will give the government complete control over the economy of people’s private lives. The British government announced that it would be phasing in a sovereign cryptocurrency. It also said that citizens would be limited to 20,000 digital pounds. The motivation to move toward a national cryptocurrency backed by the Bank of…
Celebrities Including Madonna, Tom Brady Mired in Lawsuits for Pushing Crypto, NFTs
Celebrity superstars who leveraged their fame to endorse digital assets like cryptocurrencies and nonfungible tokens (NFTs) face a series of civil lawsuits by investors who lost fortunes when the sizzling bull run for all things crypto iced over and those assets plunged in price. From movie stars to celebrity athletes, many have found themselves named…
US Seeks Tighter Bail for FTX Founder Bankman-Fried to Prevent Tampering
NEW YORK—U.S. prosecutors on Friday asked a Manhattan judge to impose tougher bail conditions on Sam Bankman-Fried, expressing concern that the founder of the FTX cryptocurrency exchange might tamper with witnesses or destroy evidence in his criminal case. Citing Bankman-Fried’s “recent attempts to contact prospective witnesses,” prosecutors asked U.S. District Judge Lewis Kaplan to ban…
LIVE NOW: Understanding Efforts to Regulate Decentralized Finance: CATO Institute Forum
Centralized crypto exchange FTX’s bankruptcy caused huge chaos nationwide or even worldwide, and people began to look for ways to regulate cryptocurrency and decentralized finance (DeFi), but how? CATO Institute hosts a forum to discuss this issue. Panelists include: Linda Jeng, Chief Regulatory Officer and General Counsel of Crypto Council for Innovation; Dane Lund, Core…
Understanding Efforts to Regulate Decentralized Finance: CATO Institute Forum
Centralized crypto exchange FTX’s bankruptcy caused huge chaos nationwide or even worldwide, and people began to look for ways to regulate cryptocurrency and decentralized finance (DeFi), but how? CATO Institute hosts a forum to discuss this issue. Panelists include: Linda Jeng, Chief Regulatory Officer and General Counsel of Crypto Council for Innovation; Dane Lund, Core…
BC Suspends Electricity Connection Requests for Large Crypto Miners to Preserve Energy Supply
The British Columbia government has placed an 18-month suspension on electricity connection requests for cryptocurrency mining operations in a bid to preserve the province’s energy supply. The provincial government says the one-and-a-half-year halt will also give it time, along with BC Hydro, to engage with the “industry and First Nations, and develop a permanent framework for any…
Is This the Last Crypto Winter?
Commentary The year 2022 has been the worst period on record for cryptocurrencies. The industry is on life-support. The crypto market has been rocked by scandals, mismanagement, bankruptcies, and potential fraud. Investor sentiment and trust is possibly the lowest it’s ever been, even after the Mt. Gox scandal in 2014, when the equivalent then of…
FTX Founder Sam Bankman-Fried Agrees to Extradition to US: Attorney
Sam Bankman-Fried has agreed to be extradited to the United States, where he faces criminal charges linked to the collapse of his cryptocurrency firm FTX, according to his lawyer. Attorney Jerone Roberts, who represented Bankman-Fried in a Bahamas Court on Monday, told reporters the extradition paperwork is being prepared by lawyers, The New York Times…
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