New York Financial News

United States prosecutors have laid charges in two separate cases against nine people who founded or promoted a pair of cryptocurrency companies alleged to be Ponzi schemes that netted $8.4 million from investors.

The New York state Department of Financial Services (DFS) released guidance on Dec. 15 for regulated banks seeking to engage in activities with virtual currency. The guidance, which took effect immediately, describes the application process and “summarizes the types of information the Department considers relevant” for obtaining the agency’s approval.

The DFS will then assess the plan based on six broad categories: business plan; risk management; corporate governance and oversight; consumer protection; financials; and legal and regulatory analysis.

The G20 countries plan to create a policy consensus on cryptocurrencies in a bid to better regulate the asset class. 

There's nothing in crypto like the New York Stock Exchange, but if the industry has anything close, Coinbase Global and Binance fill that role.

According to Bahamian court records filed on Dec. 14, Ryan Salame, the former co-CEO of FTX Digital Markets told the Securities Commission of the Bahamas (SCB) on Nov. 9 that FTX was sending customer funds to its sister trading firm Alameda Research.

Charges brought by U.S. prosecutors against Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, on Tuesday were among the highest-profile brought against a crypto player. It was the latest in a string of cases involving digital assets that U.S. regulators and prosecutors have been looking into.

Boris Johnson has raked in more than 1 million pounds (1.16 million euros) in paid speeches since resigning a few months ago, according to a document published on Wednesday. 

Court filings continue to shed light on the dubious relationship between FTX and Alameda Research, in which the hedge fund was afforded an “unfair” trading advantage as well as unprecedented access to user holdings on the cryptocurrency exchange.

Sam Bankman-Fried, the disgraced founder and former CEO of cryptocurrency exchange FTX, has been denied bail by a judge in the Bahamas.

FTX founder Sam Bankman-Fried oversaw one of the biggest financial frauds in American history, a top federal prosecutor said in charging that the former chief executive stole billions of dollars from the crypto exchange’s customers while misleading investors and lenders.

Damian Williams, United States Attorney for the Southern District of New York, said the investigation leading to charges against former FTX CEO Sam Bankman-Fried had been “very, very fast” but prosecutors were “not done” with arrests.

The indictment against Sam Bankman-Fried (SBF) was unsealed Dec. 13. The indictment, signed by U.S. Attorney for the Southern District of New York Damian Williams, is 14 pages long and containe eight counts. 

The United States Commodity Futures Trading Commission, or CFTC, has filed a lawsuit against Sam Bankman-Fried, FTX and Alameda Research, claiming violations of the Commodity Exchange Act and demanding a jury trial.

Sam Bankman-Fried, the disgraced founder of the now-bankrupt crypto exchange FTX, has been arrested in The Bahamas after US prosecutors formally filed criminal charges against him.

Binance, the world's biggest crypto exchange, said on Tuesday it had "temporarily paused" withdrawals of the major stablecoin USDC.

He is scheduled to appear in a magistrates' court today in the Caribbean country's capital, Nassau.FTX filed for bankruptcy last month, leaving its fifty largest creditors $3.1 billion out of pocket.A poster child for the cryptocurrency movement, Bankman-Fried's fall from grace has been sudden and dramatic. A report by newly-installed FTX CEO John Ray last month, blasted his predecessor for "a complete failure of corporate controls and a complete absence of trustworthy financial information".The new CEO also warned that a "substantial portion" of assets held with FTX may be "missing or stolen" and reveals that corporate funds were "used to purchase homes and other personal items for employees and advisors".The SEC's director of enforcement, Gurbir S.

The worst isn’t yet over for the disgraced founder of crypto exchange FTX, Sam Bankman-Fried.

Crypto Twitter has blown up over the shocking news of Sam Bankman-Fried’s arrest in The Bahamas — many of whom weren’t expecting it to happen so soon. 

Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, made his first public appearance Wednesday since his business empire imploded this month, insisting that he “did not ever try to commit fraud” and repeatedly saying he didn’t know the extent of what was going on within his crypto businesses.

Sam Bankman-Fried, the former CEO of the FTX cryptocurrency exchange and founder of Alameda Research, has been arrested and taken into custody by authorities in the Bahamas.