Some creditors of the bankrupt crypto exchange FTX are preparing to reject a plan that would see them recover 118 percent of the money they lost. The proposal is far less generous than it might seem, they claim. Starting in January, the FTX creditors began to form a voting block, now made up of 1,600 … Read more
Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Exchange, arrives at court in New York, US, on Thursday, Feb. 16, 2023. Yuki Iwamura | Bloomberg | Getty Images Almost all customers of collapsed cryptocurrency exchange FTX will get their money back — and more, according to a court filing. FTX estimates that it owes creditors around … Read more
Omar Marques | Lightrocket | Getty Images The Securities and Exchange Commission could soon pursue enforcement action against Robinhood, according to the trading firm. Robinhood disclosed in a filing Monday that over the weekend the regulator sent it a warning that upon completion of an investigation the company could be charged. “After years of good … Read more
Joe Lubin is in a fight with the Securities and Exchange Commission. Not only is the financial regulator waging war against Ethereum, he claims, but making a grab for jurisdiction over the future of the Internet. So Lubin has decided to punch back. In 2015, Lubin was part of the team that created Ethereum, the … Read more
Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. Mike Segar | Reuters | Benjamin Girette | Bloomberg | Getty Images An arch rivalry between one-time crypto titans was brought to a close at a federal courthouse in Seattle on Tuesday when Binance founder Changpeng … Read more
Block reported first-quarter earnings after the bell that exceeded analysts’ estimates. The stock rose about 10% in extended trading. Here’s how the company did, compared to analysts’ consensus from LSEG. Earnings per share: 85 cents adjusted vs. 72 cents adjusted that was expected Revenue: $5.97 billion vs. $5.82 billion expected Block posted $2.09 billion in … Read more
A smartphone with displayed Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. Dado Ruvic | Reuters Coinbase reported better-than-expected revenue in its first-quarter earnings report on Thursday. Here’s how the company did, compared to analysts’ consensus from LSEG. Earnings: $4.40 per share. That may not … Read more
Sens. Elizabeth Warren (D-Mass.) and Angus King (I-Maine) pressed the Biden administration on Wednesday for information on how it is addressing Iran’s use of cryptocurrency mining to evade sanctions. “Iran has raised millions of dollars through mining crypto—a steady revenue source that allows it to purchase imports, move funds domestically and internationally, and fund Hamas … Read more
Roger Ver, a bitcoin millionaire and evangelist, is one of the first early adopters of the so-called crypto-currency. (Photo by Danny Lee/South China Morning Post via Getty Images) South China Morning Post | South China Morning Post | Getty Images The Justice Department unveiled criminal tax fraud charges this week against a prolific bitcoin investor … Read more
As a test of their resulting AI tool, the researchers checked its outputs with one cryptocurrency exchange—which the paper doesn’t name—identifying 52 suspicious chains of transactions that had all ultimately flowed into that exchange. The exchange, it turned out, had already flagged 14 of the accounts that had received those funds for suspected illicit activity, … Read more
