City New York Financial News

26.01 / 14:33

business regulation Investments FTX investigation SBF allegedly used FTX money to invest $400M in obscure VC firm

Authorities in the United States might have discovered yet another possible component of Sam Bankman-Fried’s (SBF) cryptocurrency empire.

23.01 / 20:31

regulation Bankruptcy NYDFS NOT NYDFS advises crypto firms not to commingle user and corporate funds in the event of insolvency

The New York Department of Financial Services, or NYDFS, has released guidelines on how licensed crypto firms should handle customer assets should they face “insolvency or similar proceeding”.

23.01 / 19:15

FTX NYDFS Financial Customers New York’s Chief Financial Regulator Mandates Firms to Separate Customers' Crypto Assets from Their Own

New York’s chief financial regulator plans to release new guidance that will mandate companies to separate their own crypto assets from that of customers'.

23.01 / 16:05

Goldman Sachs axes 600 bankers from its New York headquarters

Around 20% of Goldman Sachs' 3,200 job cuts hit its New York headquarters as the Wall Street bank rolled out its deepest round of redundancies since the 2008 financial crisis.

19.01 / 16:25

Iraq Economy Reels as U.S. Moves Against Money Flows to Iran

BAGHDAD—Iraqis are blaming an unexpected culprit for a weakening currency that has caused the price of food and imported goods to rise: a little-noticed policy change by the U.S. Treasury and the Federal Reserve Bank of New York.

14.01 / 20:33

business Mining regulation New York State New York sued by environmental group after approval of crypto mining facility: Report

The New York Public Service Commission (PSC) was sued by environmental activists on Jan. 13 for approving the takeover of a cryptocurrency mining facility in the state.

13.01 / 04:57

business Court Media Major media outlets demand identities of SBF's $250M bond guarantors

Eight major media companies including Bloomberg, The Financial Times and Reuters have demanded public disclosure of the two individuals responsible for guaranteeing FTX former CEO Sam Bankman-Fried's $250 million bond.

12.01 / 23:01

Law regulation crimes FTX Like son, like father as Joseph Bankman retains attorney: Report

Joseph Bankman, the father of former FTX chief executive officer Sam Bankman-Fried, has reportedly hired an attorney as the criminal case against his son moves forward.

12.01 / 11:33

Stocks market COP Southern Wall Street’s top cop trains his sights on crypto

Joe Miller in New York Damian Williams made history well before he brought criminal charges against FTX founder Sam Bankman-Fried over “one of the biggest financial frauds”. In late 2021, the Brooklyn-born son of Jamaican immigrants became the first black person to be sworn in as the US attorney for the Southern District of New York, the storied branch of American justice whose jurisdiction includes Wall Street and, by extension, global finance.

09.01 / 20:09

Adoption regulation Bitcoin Bitcoin Price Belgian MP receives Bitcoin salary for a year: Here’s what he learned

At the end of January 2022, member of the Belgian parliament Christophe De Beukelaer became the first European politician to convert his salary to Bitcoin (BTC). Celebrating the anniversary of this experiment, Cointelegraph reached out to a lawmaker to know more about his experience.

09.01 / 17:05

business Adoption Banks exits New York-based bank exits crypto after tumultuous year

The last year proved to be another turbulent year for the crypto industry. From a lasting market downturn and exploits in decentralized finance (DeFi) to the FTX scandal, no area was left unscathed.

06.01 / 04:47

Blockchain Ethereum Fraud IRS Mutant Ape Planet creator arrested in NY for alleged $2.9M NFT 'fraud'

The developer of a Mutant Ape Yacht Club knock-off collection — Mutant Ape Planet — has been arrested in New York, charged with allegedly “defrauding” investors of $2.9 million in a "rug pull scheme."

06.01 / 04:27

Technology cryptocurrency Rocky Crypto firms off to rocky start in 2023 with outflows, layoffs and a lawsuit

The crypto industry's woes continued on Thursday as plunging deposits, layoffs and a lawsuit added to the tumult of 2022, which was dominated by sinking prices and high-profile bankruptcies.

06.01 / 03:35

CEO Action New York sues Celsius founder Mashinsky

In addition, the suit says, as Celsius lost hundreds of millions of dollars of assets in risky investments, Mashinsky misrepresented and concealed his firm's deteriorating financial condition. Mashinsky also failed to register as a salesperson for Celsius and as a securities and commodities dealer.Celsius filed for bankruptcy and suspended customer withdrawals in July, citing a $1.19 billion deficit on its balance sheet.

05.01 / 20:13

Law regulation crimes Financial Alex Mashinsky sued by NY AG for allegedly hiding Celsius’ 'dire financial condition'

New York Attorney General Letitia James has filed a lawsuit against Alex Mashinsky, alleging the Celsius founder and CEO made numerous “false and misleading statements” which led to investors losing billions.

05.01 / 17:07

regulation coinbase Shell Anti-money laundering Coinbase to Pay $100M to Settle New York Regulators' Anti-Money Laundering Complaints

The US crypto exchange Coinbase has agreed to shell out a total of $100m to settle a complaint relating to “certain historical shortcomings” in its regulatory compliance work.

05.01 / 09:57

Netflix Ukraine war Malta and Switzerland playing an outsized role on the UN's biggest stage

The EU's smallest Member State, and Europe's most neutral nation, are set to play outsized roles in world events over the next two years, as Malta and Switzerland begin their term as non-permanent members of the United Nations Security Council.

04.01 / 18:27

Law regulation coinbase settlement Coinbase reaches $100M settlement with NY regulators

New York regulators announced on Jan. 4 that cryptocurrency exchange Coinbase will pay a $50 million fine and invest a further $50 million in its compliance program, following a settlement with the New York State Department of Financial Services.

04.01 / 18:13

cryptocurrency BLOCK coinbase Coinbase to pay $100 million to settle New York state investigation

United States-based cryptocurrency exchange Coinbase Global Inc has reached a $100 million settlement with New York's Department of Financial Services (DFS), the exchange and the regulator said in statements on Wednesday.

04.01 / 17:33

UPS Reuters FTX Fried Sam NOT Sam Bankman-Fried Pleads Not Guilty to Criminal Charges in ‘Epic’ FTX Cryptocurrency Exchange Fraud – This is All You Need to Know

FTX founder Sam Bankman-Fried pleaded not guilty in a New York court on Tuesday, where the judge scheduled the trial against the former crypto mogul to begin in the fall.

04.01 / 06:09

Blockchain regulation US Feds put together ‘FTX task force’ to trace stolen user funds

The United States Attorney’s Office for the Southern District of New York (SDNY) has formed an FTX Task Force to “trace and recover” missing customer funds, as well as handle investigations and prosecutions related to the exchange’s collapse.

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