New York Financial News

23.11 / 22:53

markets Grayscale Congress Genesis Trading Bitcoin Here's why $16.5K is critical for November's $1.14B Bitcoin options expiry

Bitcoin (BTC) faced a 7.3% drop between Nov. 20-21 as it tested the $15,500 support. While the correction seems small, the movement has caused $230 million in liquidations in futures contracts. Consequently, bulls using leverage came out ill-prepared for the $1.14 billion monthly options expiry on Nov. 25.

23.11 / 17:21

Digital New York puts brakes on crypto mining

New York has become the first state to restrict cryptocurrency mining after Governor Kathy Hochul on 22 November signed a two-year moratorium, calling the move necessary to help protect the environment.

23.11 / 16:29

business Adoption Central Bank Bank of Japan to trial digital yen with three megabanks

Despite Japan’s uncertainty on whether to issue a central bank digital currency (CBDC), the Bank of Japan (BoJ) continues experimenting with a potential digital yen.

23.11 / 12:25

Adoption Congress New York AG pushes prohibition of crypto purchases via retirement funds

The turmoil surrounding crypto exchange FTX and Sam Bankman-Fried (SBF) reaffirmed regulators’ belief about the need for stricter oversight across the crypto ecosystem. Seeking investor protection against a similar fallout, New York Attorney General (NYAG) Letitia James recommended prohibiting crypto investments in defined contribution plans and individual retirement accounts (IRAs).

23.11 / 12:21

regulation New York State Bitcoin New York governor signs PoW mining moratorium into law

New York governor Kathy Hochul signed the proof-of-work (PoW) mining moratorium into law on Nov. 22, making it the first state in America to ban any PoW crypto mining activity for two years.

23.11 / 09:55

business cryptocurrency Environment World New York state partially bans cryptocurrency mining powered by fossil fuels

New York has become the first state in the US to temporarily ban new permits for fossil fuel plants that power cryptocurrency mining, which is an energy-intensive exercise. Crypto mining is the process used in the transaction of cryptocurrencies such as bitcoin and ethereum.

23.11 / 06:21

business Grayscale Digital Currency Group Bankruptcy Genesis calls in restructuring expert in its fight to avoid bankruptcy

Cryptocurrency lending firm Genesis Global Capital has reportedly hired a restructuring adviser to explore all possible options that include, but aren’t limited to, a potential bankruptcy.

22.11 / 13:43

CEO Southern FTX New Revelation: US Prosecutors Were Looking Into FTX Long Before Exchange Collapsed

The unexpected collapse of major crypto exchange FTX has drawn significant attention in the media but recently revealed documents suggest that Sam Bankman-Fried’s company was on the radar of federal prosecutors long before FTX filed for bankruptcy.

22.11 / 09:53

Blockchain CBDC Digital CBDCs US Trails China In The Digital Currency Race. Here's Why

Over 100 countries are currently exploring Central Bank Digital Currencies

21.11 / 18:35

UPS China Turns to Back-Channel Diplomacy to Shore Up U.S. Ties

China is turning to an old friend in corporate America to bolster communications with the U.S., as President Xi Jinping tries to stabilize the bilateral relationship while gearing up for greater competition between the two powers.

21.11 / 17:19

Government Blockchain Election tally: Does blockchain beat the ballot box?

In October, Greenland was reported to be exploring the feasibility of an online voting platform for its national elections. Among the options being considered is a blockchain-based system.

21.11 / 09:45

business Blockchain Adoption Investments Billionaire investor Bill Ackman says 'crypto is here to stay'

Billionaire investor and hedge fund manager Bill Ackman says he remains bullish about cryptocurrencies, despite the recent collapse of the FTX cryptocurrency exchange and the market turmoil that’s followed it.

21.11 / 07:13

business Blockchain regulation Bankruptcy accounting Celsius had 'insufficient' accounting and operational controls, says examiner

The independent examiner in crypto lender Celsius’ bankruptcy case has alleged that the company failed to set up “sufficient” accounting and operational controls in its handling of customer funds.

18.11 / 20:45

Digital Southern FTX ‘Serious Fraud and Mismanagement’ Occurred at FTX Says Bahamian Liquidators

Liquidators in the Bahamas working on the now-bankrupt crypto exchange FTX believe there was “serious fraud and mismanagement” occurring at the exchange, court documents have revealed.

17.11 / 17:19

business Government education Breaking down FTX’s bankruptcy: How it differs from other Chapter 11 cases

Collapsed crypto exchange FTX and 130 affiliates filed for bankruptcy in Delaware on Nov 11. Chaos followed as a number of FTX creditors, investors and industry experts began to question what would happen next.

17.11 / 07:43

business Law Court Bitcoin Bahamian liquidators reject validity of FTX's US bankruptcy filing

Brian Simms, the court-appointed provisional liquidator overseeing the bankruptcy proceedings of FTX Digital Markets in The Bahamas, has called into question the validity of a Chapter 11 bankruptcy filing by subsidiary FTX Trading and 134 other affiliates in a Delaware court on Nov. 14.

17.11 / 01:21

business Stablecoin Tether Tether says it has no exposure to Genesis Global or Gemini Earn

Tether issued a short statement on Nov. 16 saying that it has no exposure to institutional crypto lender Genesis Global or the Gemini Earn program after the announcement that Genesis Global and the Gemini exchange were freezing withdrawals. Genesis Global is the lending partner for interest-bearing Gemini Earn.

16.11 / 21:55

CBDC Digital MasterCard Citigroup Reserve MasterCard, Citigroup and Other Global Banking Giants Start Digital Dollar Pilot With New York Federal Reserve

Global financial services giants such as MasterCard, Citigroup, and others are joining hands with the Federal Reserve Bank of New York to start a 12-week-long pilot for a digital dollar system.

16.11 / 13:23

regulation New York State National US national crypto laws should look like New York's, says state regulator

The superintendent of the New York Department of Financial Services (DFS) joined a nationwide regulatory discussion in the aftermath of the FTX collapse with a fresh take. Adrienne Harris believes that any federal crypto legislation to come should not override state regulatory regimes.

16.11 / 09:29

business Binance coinbase The New York Times FTX downfall was a turning point for citizen journalism: Coinbase CEO

Coinbase CEO and co-founder Brian Armstrong have applauded the work of citizen journalists and blockchain analysts surrounding the unfolding FTX crisis and its former CEO Sam Bankman-Fried.

16.11 / 02:41

Government Law SEC consequences Will SBF face consequences for mismanaging FTX? Don’t count on it

Will former FTX CEO Sam Bankman-Fried be held accountable for his mismanagement of investor funds?

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