New York Financial News

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Warren Buffett’s company spent the first quarter opening a new position in Capital One Financial and adding to its already large holdings of Bank of America and Apple.

Former Silicon Valley Bank chief executive Greg Becker plans to tell a Senate committee on 16 May that no bank could have survived the unprecedented deposit run that led to his institution’s failure in March.

Crypto-friendly Signature Bank “significantly’ cut back on digital asset deposits in the wake of increased volatility and regulators' concerns at the end of last year, said the former chairman and co-founder of the now-shuttered bank. 

Cryptocurrency platform Bakkt is removing support for 25 out of the 36 tokens offered by its recently-acquired trading platform Apex Crypto.

The Department of Commerce has imposed a 10-year export privilege ban on Virgil Griffith, an Ethereum developer serving a five-year prison sentence. The ban restricts him from enjoying export privileges until April 12, 2032.

Once a digital media darling, Vice Media Group on Monday filed for bankruptcy protection after years of financial troubles.

Following some of its leadership team visiting the United Arab Emirates, crypto exchange Coinbase has announced the formation of an advisory council staffed with many former United States lawmakers and industry leaders

A class action lawsuit against big-name celebrities who promoted bankrupt FTX including Shaquille O’Neal, Tom Brady and Naomi Osaka has garnered cooperation from a former executive, according to a recent court filing.

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The parent company of the collapsed Silvergate Bank will be delisted from the New York Stock Exchange (NYSE) and 230 staff will be let go, Silvergate Capital has disclosed.

Twitter got a bit heated on Thursday after memecoin PEPE enthusiasts jumped on the social media site with the hashtag #DeleteCoinbase trending after a newsletter was posted by the exchange calling the coin a “hate symbol.”

The US and Maltese arms of crypto exchange Bittrex have processed $425 million in withdrawals since the platform announced plans to wind down US operations. 

NoMeme ($NOMEME) Token was launched shortly after Elon Musk tweeted a Milady NFT image and its price pumped 700% in its first hour and a half of existence. 

A New York lawmaker has introduced a new bill that would see dollar-pegged stablecoins accepted as a legal form of payment for bail bonds. 

FTX chief Sam Bankman-Fried asked a US federal court Monday to toss out most of the charges he faces over the collapse of his crypto exchange last year. In a pre-trial motion, lawyers for Bankman-Fried asked the US District Court for the Southern District of New York to dismiss 10 of the 13 charges against him, arguing that in some of the charges prosecutors failed to «state an offense» or to «allege a valid property right.» The disgraced crypto currency highflyer has pleaded not guilty to fraud, conspiracy and money laundering charges. Extradited to the United States in December from the Bahamas and put under house arrest, Bankman-Fried faces potentially dozens of years in prison. His trial is scheduled to begin in October in New York.

OpenAI CEO Sam Altman will make his first appearance before Congress on May 16 to discuss artificial intelligence (AI) regulation in the United States during a hearing on oversight. Also testifying will be IBM’s chief privacy and trust officer, Christina Montgomery — who is a member of the U.S. National Artificial Intelligence Advisory Committee — and New York University emeritus professor Gary Marcus.

In this week’s newsletter, learn about emerging technologies creating new ethics for humankind. Read about the nonfungible token (NFT) marketplace Binance NFTs adding support for Bitcoin Ordinals on its platform, and check out why Kenyan lawmakers are considering a tax on crypto and NFT transfers. In other news, former OpenSea manager Nathaniel Chastain was found guilty of insider trading in a federal court in New York, and don’t forget this week’s Nifty News, featuring Pudgy Penguins signing a deal with a major Hollywood agency. 

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US lawmakers drifted the idea of regulating cryptocurrency through a self-regulatory organization putting both the Securities and Exchange Commission and the Commodity Futures Trading Commission in charge.