New York Financial News

It is critical for financial institutions to know who they are trading with when using decentralized finance (DeFi) protocols, asset management giant BlackRock’s head of strategic partnerships, Joseph Chalom, has said.

A bathhouse in Brooklyn, New York, has left users on Instagram and Twitter divided after it revealed that it is using Bitcoin (BTC) mining rigs to heat its spa.

Sandro Pierri, the chief executive of BNP Paribas Asset Management, has been elected president of Europe’s main fund management trade body Efama — months after the Brussels-headquartered association brokered a compromise to win back German members by removing corporates from its board.

Tether has reaffirmed its commitment to transparency and announced its completion of reporting obligations to the New York Attorney General's Office. Under the terms of its 2021 settlement, Tether fulfilled its quarterly reporting requirements for a period of two years. There have been no indications of incomplete disclosures or inadequate reserves during this time, cementing Tether's position as a reliable stablecoin. Furthermore, Tether proudly boasts its largest market cap in history, highlighting its strengthened position within the market.

Winklevoss twins’ cryptocurrency exchange Gemini continues to actively expand its services across the world, debuting Ethereum staking in the United Kingdom.

Digital Asset — the New York firm responsible for Australian Securities Exchange’s now-abandoned blockchain-based clearing system — has blamed the securities exchange for dropping its blockchain plans.

Valkyrie Funds, a Tennessee-based asset manager, has filed with the U.S. Securities and Exchange Commission (SEC) for approval for a bitcoin exchange-traded fund (ETF). 

Leon Marshall, a former executive at crypto lending firm Genesis, has joined Mike Novogratz's Galaxy Digital as global head of sales. 

BlackRock’s application for a spot Bitcoin exchange-traded fund (ETF) has encouraged other financial firms to follow suit. First, it was the New York-based asset management fund WisdomTree, which made a new filing on June 21 for a Bitcoin (BTC) ETF. This was then followed by investment manager Invesco, which reactivated its application for a spot ETF.

The ongoing Dogecoin (DOGE) insider trading case involving Tesla CEO Elon Musk has taken a new turn, as Musk's key attorney, Adam Gabor Mehes, has filed a motion to withdraw counsel.

At least two investment firms have made new filings for spot Bitcoin exchange-traded funds (ETF) following investment colossus BlackRock’s move to lodge a similar application for its own spot Bitcoin ETF on June 15. 

United States President Joe Biden will discuss artificial intelligence (AI) with a group of Silicon Valley experts on June 20 between campaign fundraising stops in California. 

A Victorian brownstone in Washington DC linked to former FTX CEO Sam Bankman-Fried may have been sold. 

Disgraced crypto lawyer Kyle Roche fell “victim to an elaborate international setup” that caused him to expose himself as corruptly beholden to Avalanche founder Ava Labs, reported the New York Times on Sunday. 

Sandro Pierri, the chief executive of BNP Paribas Asset Management, has been elected president of Europe’s main fund management trade body — months after the Brussels-headquartered association brokered a compromise to win back German members by removing corporates from its board.

With crypto in a state of turbulent flux, a demographic of nonfungible token (NFT) detractors in the fine art world might feel trigger-happy to, at last, declare the industry down for the count. 

Securities and Exchange Commission (SEC) official on Friday rejected criticism of the regulator's cryptocurrency crackdown and slammed the sector for violating securities laws. The regulator's heightened scrutiny of crypto firms comes in response to the industry's failure to comply with the agency's regulations, SEC enforcement director Gurbir Grewal said at a Rutgers University and Lowenstein Sandler LLP event in New York. The agency's aggressive policing has sparked a wave of criticism from digital assets firms and advocates on Capitol Hill for what they describe as regulatory overreach. «We have worked thoughtfully and incrementally in this space,» Grewal said on Friday. «Typically you'd also see compliance but we're not seeing that in this space, so we had to change strategies.»

The cryptocurrency total market capitalization fell to $1.02 trillion on June 15, its lowest level in three months. But while the derivatives market's resilience and end-of-week price gains amid uncertainty in stablecoins' reserves provides hope for bulls, it might be too soon to celebrate.

Binance-branded BUSD stablecoin has lost another $1 billion in market cap, descending to the fourth position among stablecoins.

The dollar-pegged Binance USD (BUSD) stablecoin sits now at the fourth position in market capitalization among other stablecoins following a dip of over $1 billion in the past 30 days, data from CoinMarketCap shows.

New York Attorney General Letitia James has successfully recovered over $1.7 million from CoinEx (COINEX) following a lawsuit against the cryptocurrency platform. CoinEx was found to be operating without the necessary registration as a securities and commodities broker-dealer and falsely representing itself as a crypto exchange. The resolution of the lawsuit requires CoinEx to refund more than $1.1 million to New York investors and pay over $600,000 in penalties to the state.