Jonathan Raa | Nurphoto | Getty Images Cryptocurrencies slid on Tuesday night, with bitcoin dropping back to the $60,000 level after a shaky start to what is usually one of its strongest months. The flagship crypto was last off by nearly 4% at $60,972.62, according to Coin Metrics. Around 4:45 p.m. Eastern time, bitcoin slid … Read more
Alex Chriss, CEO of PayPal Inc. Courtesy: PayPal In January, about a hundred days into his job as PayPal CEO, Alex Chriss told CNBC’s David Faber that the payments company hadn’t had much to celebrate in recent years. But Chriss confidently said he was prepared to “shock the world.” “I love being an underdog,” Chriss … Read more
Bitcoin. Nurphoto | Getty Images Bitcoin and crypto stocks retreated on the final trading day of September, following a rally last week, but are still poised to post a positive month. The flagship cryptocurrency was last lower by 3.5% at $63,612.63, after briefly reclaiming the $65,000 level last week, according to Coin Metrics. Crypto stocks … Read more
Blockchain technology and tokenization could challenge the traditional ETF model. Janus Henderson said recently that it’s partnering with Anemoy Limited and Centrifuge to create Anemoy’s Liquid Treasury Fund (LTF), an on-chain technology-based fund that will give investors direct access to short-term U.S. Treasury bills. “It’s not necessarily a threat to the ETF industry,” Nick Cherney, … Read more
Caroline Ellison, the star witness in the prosecution of her former boyfriend, FTX founder Sam Bankman-Fried, was sentenced Tuesday in New York federal court to two years in prison and ordered to forfeit $11 billion for her role in the massive fraud and conspiracy that doomed the cryptocurrency exchange once valued at $32 billion. The prison … Read more
Testifying at Bankman-Fried’s criminal trial in October 2023, Ellison depicted her former paramour as the driving force behind the FTX fraud. On the stand, she painted Bankman-Fried as forceful and calculating and described for the jury his various deceptions, the careful curation of his public image, and his warped relationship with risk. “[Bankman-Fried] was totally … Read more
Caroline Ellison, former chief executive officer of Alameda Research LLC, center, arrives at court in New York, US, on Tuesday, Oct. 10, 2023. Yuki Iwamura | Bloomberg | Getty Images Caroline Ellison was the star witness in the criminal case against disgraced FTX founder Sam Bankman-Fried. On Tuesday, she will face her own sentencing. Ellison’s role … Read more
Last month, venture capitalist Balaji Srinivasan announced the Network School, a three-month learning retreat marketed to people interested in “network nations,” a kind of utopia for the anarchocapitalist set. The inaugural class is 150 people. It starts today. Details about the school have been shrouded in secrecy, even for the applicants. Aspiring Network School participants … Read more
Roslan Rahman | AFP | Getty Images Cryptocurrencies rose as part of a broad market rally Thursday, one day after the Federal Reserve delivered a half percentage point reduction in interest rates, the first in more than four years. The price of bitcoin was recently higher by 3.5% at $62,417.48, according to Coin Metrics, building … Read more
Avishek Das | Lightrocket | Getty Images Bitcoin reclaimed $60,000 on Tuesday as investors awaited details of the Federal Reserve’s rate cutting plans. The price of the flagship cryptocurrency was last higher by 4.3% at $60,394.41, according to Coin Metrics. At one point, it rose as high as $61,335.83. It got an initial lift on … Read more
