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Signature Bank investigated for criminal activities prior to collapse

Financial watchdogs and Justice Department officials have repeatedly warned that firms like Signature Bank handling crypto or related cash must be vigilant in identifying customers and ensuring money flows are for legitimate purposes.

A branch of Signature Bank is photographed, late Sunday.(AP)
Published on Mar 15, 2023 09:57 AM IST
Bloomberg | | Posted by Singh Rahul Sunilkumar

‘Crypto-friendly’ Signature Bank’s closure another blow to industry

The shutdown comes soon after the twin collapses of Silvergate Capital Corp. and Silicon Valley Bank. All the banks were, at least at one point, counted among the US’s most crypto-friendly financial institutions.

A branch of Signature Bank is photographed, late Sunday.(AP)
Published on Mar 13, 2023 08:04 AM IST
Bloomberg | | Posted by Nisha Anand

Money laundering provisions to be applied to cryptocurrency sector: Centre

The provisions will also be applicable to safekeeping and related financial services, the ministry said in a notification.

Representational Image
Published on Mar 08, 2023 03:35 PM IST
Bloomberg |

Bankman-Fried while out on bail can only use 'non-smartphone' without internet

Limiting the FTX founder Sam Bankman-Fried’s access to a device that gained popularity when he was about three years old is the latest development in a fight over his communications. The functions on his phone will be restricted to voice calls and SMS text messages.

Samuel Bankman-Fried(AP)
Updated on Mar 05, 2023 02:46 AM IST
Bloomberg | | Posted by Singh Rahul Sunilkumar

G20 meeting: India asks IMF, FSB to prepare technical paper on regulating crypto

The international organisations are expected to present their joint paper during the 4th Finance Ministers and Central Bank Governors Meeting in October 2023, said a finance ministry release.

Representative Image
Updated on Feb 25, 2023 05:09 PM IST
PTI | | Posted by Singh Rahul Sunilkumar

Major crypto exchanges allow sanctioned Russian banks to transact: Report

According to a report from digital asset data analytics firm Inca Digital, two major crypto exchanges Huobi and KuCoin enable people to trade crypto using debit cards issued by sanctioned Russian banks like Sberbank.

Huobi and KuCoin enable people to trade crypto using debit cards issued by sanctioned Russian banks like Sberbank. (Getty Images/iStockphoto)
Published on Feb 25, 2023 07:59 AM IST
Bloomberg | | Posted by Lingamgunta Nirmitha Rao

IMF rolls out crypto assets action plan, advises against legal tender status

The global lender of last resort said its Executive Board had discussed a paper, "Elements of Effective Policies for Crypto Assets," that provided "guidance to IMF member countries on key elements of an appropriate policy response to crypto assets."

The IMF had hit out at El Salvador in late 2021 when the central American country became the first to adopt bitcoin as legal tender.(REUTERS)
Published on Feb 24, 2023 08:27 AM IST
Reuters |

Investors strike gold with sale of Bored Ape Yacht Club NFTs, earns 700% profit

Former Barclays Plc bond traders Ovie Faruq and Mike Anderson are seed investors in Yuga Labs Inc., the creator of the Bored Ape Yacht Club NFTs.

Bored Ape Yacht Club NFTs(Bored Ape Yacht Club/ Representational use)
Published on Feb 23, 2023 08:06 PM IST
Bloomberg | | Posted by Singh Rahul Sunilkumar

Bitcoin's value jumps above $22,000 as regulators dial down on crackdown

The largest cryptocurrency by market value jumped as much as 3.2% to $22,323 during New York trading, after turning negative earlier in the session.

Bitcoin spent most of last year trading in tandem with stocks, especially tech companies’ shares.(REUTERS)
Updated on Feb 15, 2023 06:30 AM IST
Bloomberg |

Crypto firms jointly pledge donating $9 million worth fund to Turkey, Syria

Binance, OKX, KuCoin, Bitfinex among others have taken up measures to donate and raise funds for the relief work after the series of deadly earthquakes hit Turkey and Syria.

Rescuers and residents search through the rubble of collapsed buildings in the town of Harem near the Turkish border, Idlib province, Syria, Wednesday, Feb. 8, 2023. With the hope of finding survivors fading, stretched rescue teams in Turkey and Syria searched Wednesday for signs of life in the rubble of thousands of buildings toppled by a catastrophic earthquake. (AP Photo/Ghaith Alsayed)(AP)
Updated on Feb 08, 2023 11:08 PM IST
BySnehashish Roy

Indian origin ex-Coinbase manager pleads guilty in Crypto insider trading case

Prosecutors said former Coinbase Global Inc product manager shared confidential information about forthcoming announcements of new digital assets that Coinbase would let users trade.

Coinbase is one of the world's largest cryptocurrency exchanges. (AP/ Representative Image)
Published on Feb 07, 2023 10:57 PM IST
Reuters | | Posted by Singh Rahul Sunilkumar

Bitcoin price highest since August ahead of Chinese New Year

Bitcoin, the largest cryptocurrency rose as much as 2.1% to $22,786, the highest level since August 18. It also had strong gains over Friday and Saturday last weekend. Second-ranked Ether advanced as much as 2.4% to levels not seen since September.

Bitcoin has rallied to start 2023 amid a more promising macro picture.
Published on Jan 21, 2023 04:29 PM IST
Bloomberg | | Posted by Singh Rahul Sunilkumar

Former Indian U-19 cricketer accused of kidnapping Crypto investment manager

Vijay Zol made a cryptocurrency investment. However, after the value of this currency fell in the market, Vijay Jol and his brother came home and threatened to kill, a complaint filed by businessman Kharat claims. Meanwhile, Zol has not reacted to the incident.

Vijay Zol with AB de Villiers and Mitchell Starc in 2014 IPL photo.(Vijay Zol/Twitter)
Updated on Jan 18, 2023 07:50 PM IST
By | Edited by Chandrashekar Srinivasan

‘Please believe me… Cryptos are nothing but gambling’, RBI guv

RBI governor Shaktikanta Das said cryptos have no underlying value in it not even a tulip (alluding to the Dutch tulip mania blow-up in the early part of the past century).

Shaktikanta Das, Governor of Reserve Bank of India
Published on Jan 14, 2023 04:51 PM IST
PTI | | Posted by Singh Rahul Sunilkumar

Who is Alex Mashinsky, the man behind the alleged Celsius crypto fraud?

Mashinsky, 57, fraudulently promoted Celsius as a safe alternative to banks, while concealing that it was losing hundreds of millions of dollars in risky investments, according to a lawsuit filed on Thursday by New York Attorney General Letitia James.

Alex Mashinsky, CEO of Celsius Network.(REUTERS)
Published on Jan 06, 2023 06:00 AM IST
Reuters |

FTX collapse: Former CEO Sam Bankman-Fried pleads not guilty

The government has already secured guilty pleas from two former top associates of Bankman-Fried's - former Alameda chief executive Caroline Ellison and former FTX chief technology officer Gary Wang - who are cooperating with prosecutors and may testify at trial.

Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, leaves following a hearing at Manhattan federal court in New York City, U.S.(REUTERS)
Published on Jan 04, 2023 01:09 PM IST
Reuters | | Posted by Nisha Anand

FTX's Bankman-Fried, charged with 'epic' fraud, released on $250 million bond

Bankman-Fried founded FTX in 2019. A boom in the values of bitcoin and other digital assets propelled the exchange to a valuation of some $32 billion earlier this year, making the MIT graduate a billionaire several times over, as well as an influential donor to U.S. political campaigns.

FTX founder Sam Bankman-Fried, center, is escorted out of Magistrate Court into a Corrections van, following a hearing in Nassau, Bahamas.(AP)
Published on Dec 24, 2022 11:55 AM IST
Reuters | | Posted by Singh Rahul Sunilkumar

FTX founder Bankman-Fried to appear before US court after extradition

Bankman-Fried, 30, was arrested last week in the Bahamas, where he lived and where FTX is based, after federal prosecutors in Manhattan charged him with stealing billions of dollars in FTX customer assets to plug losses at his hedge fund, Alameda Research, cementing the one-time billionaire's fall from grace.

Samuel Bankman-Fried, founder and CEO of FTX.(AFP)
Published on Dec 22, 2022 06:18 PM IST
Reuters | | Posted by Singh Rahul Sunilkumar

'India's next financial crisis...': RBI governor Shaktikanta Das' prediction

“Cryptocurrency has certain huge inherent risks for our macroeconomic and financial stability,” Reserve Bank of India Governor Shaktikanta Das said at an event on Wednesday in Mumbai, pointing to the implosion of FTX as an example.

RBI governor Shaktikanta Das,
Published on Dec 21, 2022 04:12 PM IST
Bloomberg | | Posted by Singh Rahul Sunilkumar

Crypto exchange FTX fights Bahamas demand for data access: Report

John Ray, who was appointed as chief executive of the bankrupt FTX, told a Congressional committee that the Bahamian government colluded with Bankman-Fried to help account holders in the country pull $100 million from the crypto exchange just as it was going bankrupt.

FTX, its hedge fund Alameda Research and dozens of affiliates filed for U.S. bankruptcy last month after the trading platform suffered a rush of withdrawals and a rescue deal failed.(REUTERS)
Published on Dec 14, 2022 05:56 PM IST
Reuters | | Posted by Aryan Prakash

Sam Bankman-Fried, founder of crypto firm FTX, charged with defrauding investors

An SEC complaint filed Tuesday alleges that Sam Bankman-Fried raised more than $1.8 billion from equity investors since May 2019 by promoting FTX as a safe, responsible platform for trading crypto assets.

Samuel Bankman-Fried, founder and CEO of FTX (AFP)
Published on Dec 13, 2022 05:28 PM IST
AP |

Whatever data on cryptocurrency is available is misleading: RBI Deputy Guv

"Data is not available. Whatever data is available is misleading. And making regulations in the absence of adequate information carries a high probability of us ending up with the wrong set of prescriptions," RBI deputy governor T Sankar said at a virtual conference hosted by the International Monetary Fund (IMF).

RBI deputy governor T Sankar called for building all related rules on a clear understanding of what cryptocurrencies are.(Mint Archives)
Published on Dec 11, 2022 06:17 PM IST
ANI | | Posted by Singh Rahul Sunilkumar

Goldman Sachs sees opportunity to invest in crypto firms after FTX collapse

FTX's implosion has heightened the need for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to pick up business, Mathew McDermott, Goldman's head of digital assets, told Reuters.

A trader works in the Goldman Sachs booth on the floor of the New York Stock Exchange. Rebecca Allen has sued the company for denying her promotions because of her race.(AP File Photo)
Published on Dec 06, 2022 12:08 PM IST
Reuters | | Posted by Singh Rahul Sunilkumar

'Crypto chaiwala': Harsh Goenka shares about a tea seller who accepts crypto

Recently, the Chairman of RPG enterprises shared a picture of a ‘crypto chaiwala.’ This has caught the attention of many users.

Harsh Goenka shares about chaiwala.(Twitter/@hvgoenka)
Published on Dec 03, 2022 06:18 PM IST
ByVrinda Jain

First country with crypto as legal tender now wants to issue bitcoin bonds

The proposal comes a year after President Nayib Bukele announced he would launch so-called "volcano bonds" to raise $1 billion to finance his "Bitcoin City" project, which included building a town on the Salvadoran coast funded by bitcoin-backed bonds.

El Salvador is the first country to make bitcoin legal tender(AFP)
Updated on Nov 24, 2022 07:32 PM IST
Reuters | | Posted by Singh Rahul Sunilkumar

Bankman-Fried's FTX, parents bought Bahamas property worth $121 mn: Report

The most expensive purchase was a $30 million penthouse at the Albany, a resort where Tiger Woods hosts a golf tournament every year. FTX Property Holdings Ltd, an FTX unit, bought 15 properties worth nearly $100 million in 2021 and 2022.

Collapsed cryptocurrency exchange FTX.(AFP)
Published on Nov 22, 2022 11:47 AM IST
Reuters | | Posted by Singh Rahul Sunilkumar

Crypto lender Genesis denies immediate plans to file for bankruptcy

"We have no plans to file bankruptcy imminently. Our goal is to resolve the current situation consensually without the need for any bankruptcy filing," a Genesis spokesperson said

The Genesis website on a laptop computer.(Bloomberg)
Published on Nov 22, 2022 10:47 AM IST
Reuters | | Posted by Singh Rahul Sunilkumar

Collapsed crypto firm FTX seeks court relief to pay critical vendors: Report

The exchange and its affiliates filed for bankruptcy in Delaware on Nov. 11 in one of the highest-profile crypto blowups, leaving an estimated 1 million customers and other investors facing total losses in the billions of dollars.

Bahamas-based FTX filed for bankruptcy after a rush of customer withdrawals earlier this week(REUTERS)
Published on Nov 19, 2022 05:54 PM IST
Reuters | | Posted by Aryan Prakash

Indian American arrested in $10 million fraudulent cryptocurrency scheme

According to court documents, Giri (27) from New Albany allegedly misled the investors by fraudulently promoting himself as an expert cryptocurrency trader, with a specialty in trading Bitcoin derivatives.

Representations of virtual cryptocurrencies are placed on U.S. dollar banknotes in this illustration.(REUTERS file)
Published on Nov 19, 2022 11:06 AM IST
PTI | | Posted by Nisha Anand

Binance to relaunch bid to buy bankrupt Voyager Digital: Report

Crypto exchange FTX, which was set to acquire Voyager's assets after signing a deal in September, filed for bankruptcy following a liquidity crunch.

Binance logo and stock graph are displayed.(REUTERS)
Published on Nov 17, 2022 07:41 PM IST
Reuters | | Posted by Singh Rahul Sunilkumar
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