Seoul, South Korea - Binance boss Changpeng Zhao has become the most powerful cryptocurrency figure to fall in a two-year period chaotic even by the standards of the notoriously volatile industry. Zhao stepped down as CEO of Binance -- the largest crypto exchange in the world -- after he and the...
Crypto industry grapples with FTX fallout as boss goes on trial
London, United Kingdom -- The collapse of cryptocurrency platform FTX, whose disgraced former boss goes on trial this week, sparked shock waves worldwide, with regulators still seeking to get to grips with the sector. Sam Bankman-Fried, once the wunderkind of crypto, will appear in a federal New York court on Tuesday...
Crypto experts leave US over obstructive regulations
DOHA, QATAR- Thousands of cryptocurrency industry developers have left the United States because of its negative stance towards the sector, the head of one of the pioneer exchanges told an international forum on Thursday. Despite a "wild year" of scandal and failure in 2022 when the FTX exchange and a...
Binance, crypto firm, hit with US charges for violating trade rules
The charge sheet accuses Binance of failing to uphold standards that are required of a company operating as a derivatives market and dealing with major US trading companies. Since July 2019, "Binance's compliance program has been ineffective," the statement said.
American celebrities Lindsay Lohan, Jake Paul charged for touting crypto
The charges come as part of a case targeting entrepreneur Justin Sun for manipulating crypto trading on his platform. The case is one of several from the enforcer of US rules on the financial markets that has stepped up its crackdown on cryptocurrencies since the spectacular collapse of industry leader...
US SEC charges crypto firm owned by Winklevoss twins
The charges came as US officials crack down on the sector after the uproar caused by the bankruptcy of FTX and Alameda Research. Their founder, Sam Bankman-Fried, is accused of fraud after diverting funds deposited by millions of customers on his FTX platform, and transferring them without authorization to Alameda,...Failed crypto giant FTX has salvaged $5 bn in assets
FTX, once the world's highest profile crypto exchange, collapsed spectacularly in November leaving nine million customers in the lurch and seeing co-founder Bankman-Fried indicted for fraud by US prosecutors. The downfall of FTX and Bankman-Fried's arrest and extradition from the Bahamas sent a shockwave through the crypto industry after a...
US regulators warn banks over crypto risks
The joint statement comes after the sudden collapse of cryptocurrency platform FTX - worth $32 billion before it filed for bankruptcy in November - which sent chills across the sector. FTX's disgraced founder Sam Bankman-Fried has since been accused of committing one of the biggest financial frauds in US history,...
Ex-crypto boss Bankman-Fried pleads not guilty to fraud
The United States has charged Bankman-Fried with conspiracy, wire fraud, money laundering and election finance violations. Prosecutors allege he cheated investors and misused funds that belonged to FTX and Alameda Research customers. Bankman-Fried pleaded not guilty to all eight counts against him -- five of which carry a maximum sentence...Crypto firm Binance endures wild weeks in wake of FTX collapse
On Friday, accountancy firm Mazars, engaged by Binance to provide a "proof of reserves" report, abruptly halted work with all crypto firms because of "public misunderstanding" of what they were providing. A "proof of reserves" report is not a full audit and gives no information about liabilities. Media reports suggested...Crypto can cause global economic turmoil: India’s central bank chief
Mumbai, India - India's central bank governor warned Wednesday that cryptocurrency markets risked causing the next global financial crisis, saying the recent collapse of FTX was proof of the sector's "inherent risks". The comments close out a challenging year for India's millions of crypto owners, who are already reeling from a...After FTX collapse, BlockFi files for bankruptcy in US
A few weeks after the unravelling of FTX, BlockFi, a lender in the cryptocurrency world, has filed for bankruptcy protection in a US Bankruptcy Court in New Jersey. Founded in 2017, the company had been in trouble early in 2022 amid a steep pullback in cryptocurrency values.
Friendly policies woo major crypto firms to Dubai
The emirate's Virtual Asset Regulatory Authority governs cryptocurrency trade through a comprehensive set of legislations and globally applicable policy frameworks.
