New York Attorney General Letitia James is settling with crypto lender Genesis for $2 billion, in an effort to repay defrauded investors. The company, once a business at the heart of Digital Currency Group, was among the multiple casualties in the industry contagion set off by the collapse of FTX. The firm filed for Chapter … Read more
Rafael Henrique | SOPA Images | LightRocket via Getty Images Swedish financial technology company Klarna said Tuesday that nearly 9 out of 10 employees in its 5,000-strong workforce are now using generative artificial intelligence tools in their daily work. Klarna, which lets individuals split their purchases into interest-free, monthly installments, said over 87% of its … Read more
It’s a first for the annual CNBC Disruptor 50 list: a company landing at No. 1 for the second year in a row. Perhaps no surprise, that company is OpenAI. More than any other startup in the 12-year history of the Disruptor 50 list, OpenAI’s disruptive impact and potential is unparalleled. What’s distinct about the … 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
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
Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. Staff | Reuters Changpeng Zhao, the billionaire co-founder and former CEO of Binance, is expected to see his mammoth wealth remain intact and likely continue to climb even as he faces time behind bars … Read more
Changpeng Zhao, former chief executive officer of Binance, arrives at federal court in Seattle, Washington, US, on Tuesday, April 30, 2024. David Ryder | Bloomberg | Getty Images Binance’s billionaire founder Changpeng Zhao was sentenced to four months in prison on Tuesday, after pleading guilty to charges of enabling money laundering at his crypto exchange. … Read more
Zhao Changpeng, founder and chief executive officer of Binance, attends a conference at Porte de Versailles exhibition center in Paris, France June 16, 2022. Benoit Tessier | Reuters Changpeng Zhao, the founder and former CEO of crypto exchange Binance, heads to a Seattle courtroom on Tuesday to learn whether the crimes he admitted to committing … Read more
