New York Financial News

Tether, the company behind market-leading stablecoin Tether (USDT), has addressed concerns regarding its operational decisions.

New York Stock Exchange listed company Bakkt is delisting Solana, Polygon and Cardano citing regulatory uncertainty, according to Fortune. 

Gurbir Grewal, director of the United States Securities and Exchange Commission (SEC) division of enforcement, has reportedly said the entire crypto industry was “built around noncompliance”, leading to enforcement actions.

Three Arrows Capital sold for $10.9 million at Sotheby's in New York on Thursday, the auction house said. Three Arrows Capital, which filed for U.S. bankruptcy a year ago, spent $15.5 million worth of cryptocurrency on the 37 NFTs in a series of purchases in July and August 2021, data from blockchain tracker DappRadar showed. Non-fungible tokens (NFTs) are a blockchain-based asset that represents ownership of a digital item such as an image, video or piece of text. The most expensive item «Ringers #879 (The Goose)» is part of a series of 1,000 computer-generated abstract images by Canadian artist Dmitri Cherniak.

Tether Holdings Ltd. at one point counted securities issued by Chinese companies among the reserves backing its USDT stablecoin, according to Bloomberg News. 

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The criminal case against the crypto user allegedly behind a multimillion-dollar exploit of decentralized exchange Mango Markets will be moving forward in the United States, with a trial scheduled for Dec. 4. 

Recent information disclosed by Sotheby's auction house reveals that the digital collectibles owned by Three Arrows Capital (3AC) were sold for a total of $10.9 million in a New York auction held on June 15.

Sam Bankman-Fried (SBF), the founder and former CEO of the bankrupt crypto exchange FTX, made an effort to have several charges against him dismissed in court. 

New York-based derivatives exchange Bakkt is delisting three popular altcoins due to recent regulatory developments in the United States. According to a Fortune report, trading of Solana (SOL), Polygon (MATIC), and Cardano (ADA) has been suspended.

Stablecoin-issuer Tether has published a lengthy response to reports that the reserves of Tether (USDT), one of the largest stablecoins, once included securities issued by Chinese companies. 

Do Kwon, the founder of failed blockchain project Terra, could stay in custody for up to six months while Montenegro's courts consider an extradition request from South Korea.

Citigroup is set to take a one-off hit of $400m as it pushes through its latest round of job cuts.

Cryptocurrency firm CoinEx will have to refund thousands of New York investors more than $1.7 million and pay penalties to the state as a result of settlement with New York Attorney General Letitia James. 

Avraham Eisenberg, a trader accused of manipulating the decentralized exchange Mango Markets in a massive multi-million dollar scam, is slated to stand trial on Dec. 4 in New York.

Atomic Wallet service, cryptocurrency analytics firm Elliptic said Tuesday. In a blog post, Elliptic said that more than 5,500 digital wallets were hit by the hackers, who the firm said were part of the North Korean cybercrime gang often called Lazarus.North Korea's mission to the United Nations in New York did not immediately respond to a request for comment, although Pyongyang has in the past denied carrying out digital thefts. Atomic Wallet did not immediately return messages seeking comment. The company, which says it is based in Estonia, has previously said that it «received reports of wallets being compromised» and that it hired another cryptocurrency analytics firm, Chainalysis, to investigate the incident and track down stolen funds. Chainalysis declined comment.

Defunct crypto lender Celsius has revised its bankruptcy filing, awaiting approval from a bankruptcy court in New York after a successful acquisition deal with the Fahrenheit crypto consortium. The crypto lender filed its reorganization plan on June 15.

Deutsche Bank has recruited a trio of senior bankers for its financial institutions group, as the German lender continues a hiring spree of dealmakers.

Attorneys for former FTX CEO Sam Bankman-Fried (also known as “SBF”) are seeking to sever or dismiss six charges from his upcoming trial, claiming that it may take years for courts in The Bahamas to rule on whether they will allow him to be tried for these offenses, according to a June 12 document filed in a New York federal court.

Hong Kong-based crypto exchange CoinEx has been banned from operating in New York by Attorney General Letitia James. According to an announcement on June 15, over $1.7 million worth of the exchange's funds were seized for allegedly failing to register as a securities and commodities brokerage.

BlackRock has filed an application for a Bitcoin spot exchange traded fund (ETF). The investment company is the world’s largest and it would be the first crypto spot ETF in the United States, if it receives approval.