New York Financial News

The United States Securities and Exchange Commission has filed a lawsuit against New York-based crypto exchange Coinbase for offering unregistered securities.

What do progressive Democrats, Republican national security hawks and Wall Street traders have in common? They are all apparently enlisting in United States Senator Elizabeth Warren’s “anti-crypto army.” The progressive senator’s reported alliance with Marc Cohodes, a Wall Street short-seller who profited from the recent carnage at crypto banks, is the latest example. 

The Manhattan federal court has convicted the former co-owner of the Minnesota Vikings, Reginald Fowler, for a $700 million crypto scam. 

The Metropolitan Museum of Art (Met) is set to return $550,000 in donations it received from crypto exchange FTX prior to its collapse in November.

The New York-based Metropolitan Museum of Art will return more than half a million dollars in donations it received from the now-defunct crypto exchange FTX.

Cryptocurrencies slumped across the board after the US Securities and Exchange Commission accused Binance Holdings Ltd. of mishandling funds and lying to regulators. In the lawsuit, the SEC also alleged that certain tokens — including Solana, Cardano, Polygon, Filecoin, Cosmos, Sandbox, Decentraland, Algorand, Axie Infinity, and COTI — that traded on Binance.com and Binance. US were offered and sold as securities, a move that could have wide implications for other exchanges that offer these tokens. Solana fell as much as 13%, while Cardano dropped 8%, Polygon slipped 6% and Filecoin slumped 10%.Bitcoin fell as much as 6.5% to $25,491, the least since April, as of 12:50 p.m. in New York. Binance Coin, the native token of the ecosystem of the world’s biggest digital asset exchange, slumped as much as 13%.

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Just a month after bankrupt cryptocurrency exchange FTX was seeking $4 billion from the also bankrupt crypto lender Genesis, it is now contesting a claim that it is entitled to nothing.

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Binance has seen its market share shrink by 25% over the last three months amid increased regulatory pressure from US regulators. 

Crypto exchange Gemini, owned by the Winklevoss twins, is headed to the United Arab Emirates.

A group of Dogecoin (DOGE) investors has requested leave to amend a class-action lawsuit against soon-to-be former CEO of Twitter Elon Musk, alleging he manipulated the price of the meme token.

Tether-issued USDT (USDT) stablecoin broke past a new all-time-high market cap of over $83 billion as it continues its stablecoin market dominance.

Tether, the largest stablecoin in the market, has seen its market capitalization hit a new record high, exceeding $83.2 billion. 

Sam Bankman-Fried (SBF) is seeking to subpoena documents from Fenwick & West. That’s the law firm that served as the outside counsel to FTX, Alameda Research and SBF personally from “early in their development” until the FTX bankruptcy. Now SBF’s legal team wants to use the documents in his defense in the 13-count criminal case against him.

Barney Frank, a former member of the United States House of Representatives and board member of Signature Bank, has pointed fingers at certain members of the public in the wake of the bank’s collapse.

Sam Bankman-Fried, the disgraced founder of cryptocurrency exchange FTX, is preparing to argue that he relied on the advice of Silicon Valley law firm Fenwick & West in his defense against fraud charges. 

BEIJING — Fewer than 6% of U.S. flights to and from mainland China that existed in 2019 have resumed, according to a Nomura report.

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United States prosecutors will drop some of the charges against former FTX CEO Sam Bankman-Fried if the Bahamas government objects to them, according to a document filed on May 29 in the U.S. District Court for the Southern District of New York.

Cryptocurrency exchange Gemini and bankruptcy crypto lending platform Genesis are firing back after being sued by the US Securities and Exchange Commission earlier this year.