New York Financial News

There will be something very different about the World Economic Forum’s schmooze-fest in Davos this year. Not only is it being held in May rather than the traditional January because of the pandemic, it will also be without Jamie Dimon. The JPMorgan chief executive will not be hosting the bank’s usual star-studded party and will not be making late night appearances in the Swiss resort’s famous piano bar.

A white 18-year-old opened fire with a rifle at a supermarket in New York state, killing 10 people and wounding three others Saturday in what authorities described as “racially motivated violent extremism”. Most of the victims were black.

At the beginning of May, the British Web3 community celebrated an important legal precedent — the High Court of Justice in London, the closest analog to the United States Supreme Court, has ruled that nonfungible tokens (NFT) represent “private property.” There is a caveat, though: In the court’s ruling, this private property status does not extend to the actual underlying content that NFT represents. Cointelegraph reached out to legal experts to understand what this decision could possibly change in the British legal landscape. 

Elon Musk said his deal to buy social media platform Twitter is on hold because of pending calculations over spam and fake accounts.

Venture capital is making a big move on crypto in 2022

Elon Musk said his deal to buy social media platform Twitter is on hold because of pending calculations over spam and fake accounts.

Investors were surprised by Bitcoin (BTC) price falling to $25,500 on May 12, and this shock extended to options traders. The strong correction was not restricted to cryptocurrencies and some large-cap stocks faced 25% or heavier weekly losses in the same period.

Chainalysis, a blockchain analytics provider, has announced its $170 million Series F funding round. The fresh funding succeeded its $100 million raise back in June 2021 and more than doubly exceeded its valuation of $4.2 billion at the same time.

Chainalysis provides data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies, helping them to ensure cryptocurrency compliance.Over the last year, the firm has increased its customer count by 75% and now has more than 750 clients in 70 countries. It has tripled its financial services user base, and now counts more than 100 FIs as customers.As it added blue chip outfits like Robinhood, Bank of New York Mellon, Cross River Bank, Commonwealth Bank and NFT platform Dapper Labs, Chainalysis has also hired more than 450 people over the last 12 months, bringing its headcount to around 700.

Nubank, Brazil’s largest digital bank, is set to invest 1% of its portfolio in bitcoin (BTC), and will begin rolling out functions that allow its app users to buy, sell, and hold BTC and ethereum (ETH).

Tether, the world's largest stablecoin, broke below its $1 peg Thursday amid panic in the crypto market.

Says New York State Department of Financial Services Superintendent Adrienne Harris: "Blockchain analytics tools provide companies with an efficient, data-driven way to conduct customer due diligence, transaction monitoring, and sanctions screening, among other things, which are all critical elements of our virtual currency regulation."We expect regulated entities to utilize best practices to uphold the safety and soundness of the virtual currency market and to protect consumers." Issuing new guidance, the watchdog says New York State-regulated virtual currency companies should establish control measures that may leverage blockchain analytics and that they must have clearly documented policies, processes, and procedures with regard to how these tools are integrated into their control framework.In addition, as part of their customer due diligence responsibilities, firms must obtain and maintain information regarding their customers and potential customers, using this information to understand and effectively address risk.

A crypto trader who defrauded over 170 people was sentenced to 42 months in prison on May 11 for operating a series of cryptocurrency funds claiming to make big returns but in reality were losing money and instead operated as a Ponzi scheme.

Crypto exchange FTX US has applied for a trust charter with the New York Department of Financial Services, or NYDFS, to operate in the state. 

Lorie Logan, who manages the Federal Reserve Bank of New York’s massive holdings of securities and cash, will be the new president and chief executive of the Federal Reserve Bank of Dallas.

The creator of the Fearless Girl statue in New York that stands for women empowerment has brought the emblem into the crypto space by dropping a nonfungible token (NFT) counterpart for the symbolic art piece. 

A member of the Russian protest group Pussy Riot, Maria Alyokhina, has fled Russia, claiming in an interview with the New York Times in Lithuania that she was able to shake her police monitor by disguising herself as a meal courier.

WASHINGTON — The Senate confirmed economist Lisa Cook on Tuesday night to serve on the Federal Reserve's Board of Governors, making her the first Black woman to sit on the panel in its 108-year history.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Townsquare Media, a New York based digital marketing and radio station company is the latest business to back the original cryptocurrency with its addition of $5 million worth of Bitcoin (BTC) to its balance sheet.

Federal Reserve Bank of New York President John Williams said that lowering inflation is the U.S. central bank’s main mission now and he doesn’t think moving monetary policy to a more restrictive stance would cause a recession.