City New York Financial News

13.03 / 02:05

business Banks Federal Reserve Central Bank Breaking: Signature Bank closed by New York banking authorities

New York-based Signature Bank, another crypto-friendly bank, has been closed down by its state charter authority as of Mar. 12.

11.03 / 00:37

business Stablecoin regulation Circle Banks Circle's exposure to U.S. banks could top $9B

USD Coin (USDC) issuer Circle exposure to the United States banking system sits near to $9 billion, according to its latest audit report from January. Circle's reserves are held in a number of regulated financial institutions in the country, including Silvergate, Silicon Valley Bank, and Bank of New York (BNY) Mellon.

10.03 / 18:03

Ethereum ETH Kucoin regulation New York Attorney General Alleges Ethereum Tokens are Securities in Lawsuit Against KuCoin Crypto Exchange – Crypto Clampdown Incoming?

New York Attorney General Letitia James referred to Ethereum’s native ETH token and other cryptocurrencies as “securities and commodities” in a statement issued in relation to her lawsuit against crypto exchange KuCoin.

10.03 / 13:35

SEC Voyager DOJ Binance.us Department U.S. Justice Department Opposes Voyager Digital’s Sale to Binance.US, Appeals Judge’s Decision – Here's the Latest

Shortly after bankrupt crypto lender Voyager Digital was authorized to sell its assets to crypto exchange Binance.US and transfer its users to the platform, the U.S. Department of Justice (DOJ) made an attempt to block the sale by filing an appeal that could derail it.

10.03 / 01:25

regulation New York State NY AG sues KuCoin for selling securities and commodities without registration

New York state Attorney General Letitia James announced that she has filed suit against cryptocurrency exchange KuCoin after she was able to buy and sell crypto on the exchange, which is not registered in New York. “This action is one of the first times a regulator is claiming in court that ETH, one of the largest cryptocurrencies available, is a security,” according to her statement.

10.03 / 01:03

Ethereum ETH Kucoin BLOCK SEC Enterprise Luna NYAG lists Ethereum (ETH) as security in lawsuit against Kucoin

The New York Attorney General Letitia James has sued the crypto exchange – Kucoin. The AG claims that Kucoin violated the Martin Act in three ways, with the first one being offering and purchasing unregistered securities and commodities. Here, AG James claims Ethereum (ETH) to be a security.

07.03 / 19:07

Citi FIVE SEC Action SEC Takes Swift Action Against BKCoin and Kevin Kang for Alleged Involvement in $100 Million Crypto Fraud

The Securities and Exchange Commission (SEC) has announced it is taking “emergency action” against crypto hedge fund BKCoin and its co-founder Kevin Kang for “Ponzi-like conduct.”

06.03 / 22:07

UPS Citi FIVE SEC Action US SEC freezes assets of BKCoin for orchestrating crypto fraud scheme

The United States Securities and Exchanges Commission (SEC) announced that it filed an emergency action against BKCoin Management LLC – a crypto-hedge fund. Additionally, the action extends to its co-founder – Kevin Kang. The co-founder was fired in December 2022 over allegations of misappropriating customer funds to the extent of $12 million. The commission claims that BKCoin and Kang used customers $100 million “to make Ponzi-like payments and for personal use.”

02.03 / 01:33

Blockchain Citi Cooper PayPal Platform Simulation Payments giant PayPal and Galaxy raise $20 million

They are based in New York City and run their company from there. The cloud platform that is in charge of the upkeep of blockchains and protocols is managed by Chaos Labs, which also has the responsibility of monitoring the platform. Chaos Labs is in charge of the administration of this platform. The well-known online payment network PayPal and the investment management company Galaxy worked together in order to infuse an initial capital of twenty million dollars into the fledgling firm. This was made possible via their collaboration. We were able to do this through cooperating with one another.

01.03 / 23:13

CFTC regulation SEC Fraud FTX SEC, CFTC press civil charges against former FTX exec Singh parallel to criminal case

Civil charges were announced against former FTX director of engineering Nishad Singh on Feb. 28, the same day he entered a guilty plea to three counts of criminal fraud in Manhattan district court. Both the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are pressing charges against Singh.

28.02 / 02:47

Provident SEC Platform coinbase Robinhood receives investigative subpoena by SEC over crypto listing

Robinhood, a leading American financial service provider, disclosed a subpoena by the United States Securities and Exchanges Commission (SEC). The disclosure made in the annual report stated that it received an investigative subpoena related to cryptocurrency listing and platform operations. Additionally, the firm also stated that its reputation could stand to take damage because of a “prolonged weakness” in the cryptocurrency market.

28.02 / 01:15

Provident Binance SEC Platform Action coinbase Coinbase To Stop Trading Binance's BUSD Stablecoin

Coinbase (COIN) will suspend trading of rival exchange Binance's BUSD stablecoin, adding to Binance's woes just days after crypto-platform Paxos was forced to halt its minting of BUSD.

28.02 / 01:05

Citi Platform Hudson Solana Spaces to Close Down Stores

Solana Spaces has decided to close its two Solana (SOL)-themed, community-oriented retail shops in New York City and Miami at the end of this month. These stores are situated in both cities respectively. This decision was taken as a result of the fact that the physical shops did not bring in as many new users as was first anticipated when they were first opened.

24.02 / 22:11

business Stablecoin Circle Banks reserves FDIC-insured Citizens Trust Bank to hold $65M in USDC reserves

Citizens Trust Bank, a financial institution regulated by the Federal Deposit Insurance Corporation (FDIC), has partnered with Circle Internet Financial to hold some of its reserves in USD Coin (USDC) — a move the companies said would promote financial inclusion and digital literacy in the greater Atlanta area.

23.02 / 15:45

Ethereum Provident BLOCK Platform Enterprise LBC Luna CoinEx Cryptocurrency platform CoinEx sued by New York for offering “security” tokens

The New York State Attorney General’s office filed a lawsuit against CoinEx yesterday (22 February), claiming that it is an unregistered securities broker and commodity broker-dealer under state law.

23.02 / 13:21

Blockchain Twitter Digital SEC Pool Southern How Ripple’s case may be impacted following SEC’s run-in with the NBA

On 22 February, a New York court judge refused to dismiss a class-action lawsuit filed against Dapper Labs for allegedly offering Non-Fungible Tokens [NFTs] without first registering with the US Securities and Exchange Commission (SEC).

23.02 / 07:33

Law regulation exchanges New York State Court CoinEx CoinEx crypto exchange sued by New York for failing to register with state

Cryptocurrency exchange CoinEx has been sued by the New York Attorney General, Letitia James, alleging the firm falsely represented itself as an exchange due to failing to register as a securities and commodities broker-dealer in the state.

22.02 / 17:45

Provident NYDFS introduces enhancements for crackdown on virtual currency fraud

The New York Department of Financial Services (NYDFS) has introduced enhancements to its ability to detect illegal activities in crypto firms. This is the latest development in the New York regulator’s increased scrutiny of firms operating in the virtual currency space.

22.02 / 05:17

business event Blockchain Adoption shopping community retail Solana Spaces will close New York and Miami stores 7 months after opening

Solana Spaces will close down its two Solana (SOL)-themed, community-oriented retail stores in New York City and Miami at the end of the month, as the physical stores didn't onboard as many users as it initially anticipated.

22.02 / 03:47

CEO EToro scores New York BitLicense

European outfit eToro has been building its US presence since launching there in 2019.

14.02 / 13:13

CFTC SEC FTX Fried Sam lawsuits SEC and CFTC's Lawsuits against Sam Bankman-Fried Put on Hold by U.S. Judge – Here's Why

A New York judge has put cases against the former FTX CEO brought by the Securities and Exchange Commission and the Commodity Futures Trading Commission on hold until the criminal cases against him are concluded.

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