New York Financial News

14.02 / 18:13

IPO Solomonic Goldman Sachs CEO says odds of a 'softer landing' for U.S. economy have improved

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14.02 / 16:15

Blockchain Binance SEC CEO Action Paxful reserves How Circle alerted the NYDFS about Binance’s insufficient reserves

Circle may have a hand in the recent regulatory crackdown on Paxos and Binance [BNB]. The USD Coin [USDC] issuer reportedly filed a complaint against Binance in 2022. In doing so, it alerted the New York Department of Financial Services towards the mismanagement of reserves that backed the tokens issued by the world’s largest crypto exchange.

14.02 / 14:57

Stablecoin Binance MARKET BNB USDC Paxos Binance's Stablecoin Under Fire: Rival Circle Sounds the Alarm to NY Regulators

Circle, the US-based payments company that issues the stablecoin USD coin (USDC), alleged that major crypto exchange Binance did not fully back some of its own stablecoin proxies - and on Monday, blockchain infrastructure platform Paxos was ordered to cut its connection with Binance in regard to the Binance USD (BUSD) stablecoin.

14.02 / 13:13

CFTC SEC FTX Fried Sam lawsuits SEC and CFTC's Lawsuits against Sam Bankman-Fried Put on Hold by U.S. Judge – Here's Why

A New York judge has put cases against the former FTX CEO brought by the Securities and Exchange Commission and the Commodity Futures Trading Commission on hold until the criminal cases against him are concluded.

14.02 / 11:03

Binance Digital Action How regulators are closing in on crypto

The walls are closing in around crypto. Regulators hadn’t taken action against many of the industry’s biggest players, but are now cutting off access to products and services central to the digital currency business.

14.02 / 08:59

business Stablecoin Binance regulation SEC security Paxos Matrixport NOT Stablecoins not the target in BUSD crackdown: Matrixport head of research

Crypto financial services Matrixport's head of research believes the recent scrutiny of Paxos and its Binance USD (BUSD) token is not a direct attack on stablecoins themselves.

14.02 / 08:49

business Blockchain Stablecoin Binance Paxos Binance USD Withdrawals Redemptions Binance withdrawals and BUSD redemptions surge post Paxos crackdown

Cryptocurrency exchange Binance has seen a surge of withdrawals over the last 24 hours as investors appear to be spooked over recent news of regulatory action against Paxos and its stablecoin Binance USD (BUSD).

14.02 / 05:25

CFTC regulation SEC Department Of Justice FTX CFTC and SEC cases against SBF deferred until after criminal trial

A New York judge has granted a request from prosecutors to defer civil proceedings from the Commodities Futures Trading Commision (CFTC) and the Securities Exchange Commision (SEC) until after Sam Bankman-Fried’s criminal trial in October.

14.02 / 03:35

business Stablecoin Binance regulation SEC security Paxos Paxos ‘categorically disagrees’ with the SEC that BUSD is a security

Paxos Trust Company has released a statement noting that it "categorically disagrees" with the United States securities regulator which has painted Binance USD (BUSD) as a security.

14.02 / 01:25

regulation Circle Paxos NYDFS Binance USD reserves Circle blew the whistle on Binance reserves to NYDFS: Report

New York State’s Department of Financial Services, or NYDFS, reportedly received a complaint from stablecoin issuer Circle regarding Binance’s reserves prior to its crackdown on BUSD.

14.02 / 01:15

UPS Binance Reuters Waters CEO CoinMarketCap regulatory Binance and Paxos Caught up in Crypto Regulatory Crackdown

Paxos, the largest issuer of regulated stablecoins, has announced it will end its relationship with Binance, and cease issuance of new Binance USD (BUSD) stablecoin tokens starting February 21, after regulatory scrutiny from the New York Department of Financial Services (NYDFS).

14.02 / 00:25

Dogecoin markets XRP Cardano Polygon Bitcoin Dollar Price analysis 2/13: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, SOL

Bitcoin (BTC) and select altcoins are threatening to deepen their correction after reports emerged that the United States Securities and Exchange Commission (SEC) issued a Wells Notice to Paxos, alleging that the dollar-pegged Binance USD (BUSD) stablecoin is an unregistered security. Separately, Paxos has been ordered by the New York Department of Financial Services (NYDFS) to halt the issuance of BUSD.

13.02 / 23:21

defi privacy Decentralization ConsenSys MetaMask Infura is to blame for MetaMask’s violation of the crypto spirit

Censorship resistance is the foundation of crypto, so for many cryptocurrency purists, the Nov. 23 announcement by ConsenSys, the New York-based company behind the leading Ethereum browser wallet, informing its 20 million MetaMask users that their IP and wallet addresses would be collected was simply a gross violation of the crypto spirit.

13.02 / 20:13

Digital Platform Southern crypto deposits Customers Judge Rules Celsius Networks Owns Customers' Crypto Deposits

A federal bankruptcy judge ruled that Celsius Network owns most of the cryptocurrency that customers deposit on its online platform, meaning that Celsius customers will be the last to receive repayment from the crypto lender.

13.02 / 20:12

Binance SEC Paxos BUSD SEC Threatens Lawsuit Against Binance BUSD Stablecoin-Issuer Paxos – What’s Going On?

The Securities and Exchange Commission (SEC) has said it intends to sue Paxos Trust Company, a regulated New York-based firm that issues several popular stablecoins.

13.02 / 20:07

Provident DOW Platform hearing FTX Faces Hearing on Whether to Reveal Names of 1 Million Clients

A decision is brewing on whether to reveal disgraced crypto tycoon Sam Bankman-Fried's biggest secret--the names of his roughly 1 million clients. At a hearing tomorrow, bankruptcy judge John Dorsey will hear arguments from the New York Times, Dow Jones, Bloomberg, and the Financial Times about why clients of Bankman-Fried's now-bankrupt FTX no longer deserve anonymity, part of a broader attempt to shed more light on the failed exchange's inner workings. FTX representatives say the revelations would violate privacy rules and turn the proceedings into a farce.

13.02 / 19:56

UPS Platform coinbase Gemini Kraken Huobi Crypto Winter Gets Icier Just Days Into New Year

Less than a week into the New Year, the cryptocurrency winter is turning icier as job cuts mount, regulators turn up the heat and firms warn of losses--and there's little sign the tumult will ebb anytime soon.

13.02 / 19:53

CEO stake DOJ Seizes SBF's $465 Million Robinhood Stake

The U.S. Department of Justice (DOJ) on Monday seized $465 million in shares of the stock-trading app Robinhood that are partially owned by disgraced former FTX CEO Sam Bankman-Fried, or SBF, who wanted access to the stock to help pay his legal fees.

13.02 / 19:52

COST Digital JPMorgan Chase Exodus Ukraine plots post-war rebuilding effort with JPMorgan Chase as economic advisor

Ukraine's government signed an agreement with JPMorgan Chase to help advise the war-afflicted country on its economy and future rebuilding efforts.

13.02 / 19:48

Provident Target Digital Platform Action coinbase Gemini Silvergate Shares Plunge 45% After $8 Billion Crypto Run Is Revealed

Shares of Silvergate Capital Corp., a crypto-focused California bank, lost almost half their value after the Wall Street Journal reported it spent the equivalent of a decade's profit and fired 40% of its workers after investors scrambled to redeem $8.1 billion in the wake of crypto exchange FTX's collapse. Silvergate, based in La Jolla, slid 45% to $12.27 as of 12:20 p.m. New York time. It was the bank's biggest one-day decline since March 12, 2020.

13.02 / 19:22

Binance CEO coinbase Coindesk Fine Coinbase to Pay $50 Million Fine to New York Regulators

Coinbase Global Inc., a U.S. cryptocurrency exchange, settled with New York state regulators for $100 million after an investigation into the exchange's compliance with requirements to prevent money laundering.

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