Lawmakers are clashing with a regulator over access to records about the arrest of Sam Bankman-Fried. The House Financial Services Committee “will consider all avenues to compel” the release of documents related to the arrest from the Securities and Exchange Commission (SEC). The chairman of the committee, Patrick McHenry, and...
The black swan collapse of FTX in November 2022 severely rattled global confidence in crypto. It also increased the scrutiny of U.S. regulators, though no new laws impacting the industry have been passed. Now, according to Dr. Yan Zhang, co-founder of Web3-native payment aggregator Pelago,...
At least one person might be relieved, if not exactly happy, that the banking system is melting. All of a sudden, Sam Bankman-Fried’s alleged misdeeds look like small potatoes. Relatively speaking. But we note that the issues at hand are a difference of degree and...
Crypto’s founding premise was to de-bank the world and remove third-party risk. Now, the digital asset industry is finding itself the one unbanked, as financial institutions that once catered to crypto players increasingly shutting down one by one. This, as just days after the far-reaching...
April 13, 2023
The black swan collapse of FTX in November 2022 severely rattled global confidence in crypto. It also increased the scrutiny of U.S. regulators, though no new laws impacting the industry have been passed. Now, according to Dr. Yan Zhang, co-founder of Web3-native payment aggregator Pelago, the collapse last month of both Silicon Valley Bank (SVB) […]
March 16, 2023
At least one person might be relieved, if not exactly happy, that the banking system is melting. All of a sudden, Sam Bankman-Fried’s alleged misdeeds look like small potatoes. Relatively...
March 08, 2023
One crypto bank is no more — and one wonders what’s next for the crypto banking business model itself. To that end, Silvergate Capital said Wednesday night (March 8) that...
December 29, 2022
Non-US customers affected by the FTX crypto bankruptcy fear their entrusted money could be “misappropriated” again. That’s according to a formal complaint for declaratory judgment filed Wednesday night (Dec. 28)...
May 07, 2023
Bankrupt crypto lender Voyager Digital is closing down following two failed attempts to sell itself. According to a Friday (May 5) court filing, the company will self-liquidate its assets and wind down operations. The announcement came 10 days after Binance.US walked away from a plan to purchase Voyager for $1 billion. As PYMNTS reported, Binance.US gave no reason for its […]
April 13, 2023
Lawmakers are clashing with a regulator over access to records about the arrest of Sam Bankman-Fried. The House Financial Services Committee “will consider all avenues to compel” the release of documents related...
February 15, 2023
FTX is reportedly negotiating the return of $400 million invested by its disgraced founder. Sam Bankman-Fried invested that money in Brazilian hedge fund Modulo Capital, the New York Times reported Wednesday (Feb. 15), citing...
February 07, 2023
Signature Bank is facing a federal lawsuit for its role in the collapse of FTX. The lawsuit, filed Monday (Feb. 6) by trading firm Statistica Capital, says the New York-based bank allegedly “had...
