San Francisco Financial News

25.02 / 21:13

business Blockchain Adoption Decentralization DAO Science Pharma companies team up with DeSci to accelerate scientific research

Having emerged as a movement in the research community, Decentralized Science (DeSci) initiatives are progressing at a pace even big pharma cannot ignore. In fact, Pfizer is now the first pharmaceutical to vote on decentralized autonomous organization (DAO) proposals of German blockchain-based organization VitaDAO.

23.02 / 00:03

UPS Target Binance SEC CEO Action SEC Cracks Down on Stablecoins, Targeting Paxos

U.S. regulators may take enforcement action against Paxos Trust Co. over the stablecoin it issued, ramping up a growing crackdown on cryptocurrencies. The Securities and Exchange Commission (SEC)'s decision isn't final, according to the Wall Street Journal. If the SEC does decide to sue Paxos, on the basis that its stablecoins violate laws designed to protect investors, the case would follow another in which the regulator sued Terraform Labs and CEO Do Kwon for a multi-billion dollar fraud involving the algorithmic stablecoin TerraUSD (UST).

20.02 / 13:13

UPS CBDC Digital Citizens Progressive San Francisco's Move to Hire CBDC Developer Signals Digital Currency Progress – Here's the Latest

Joining the growing ranks of public actors across the world who wish to jump on the central bank digital currency (CBDC) wagon, the Federal Reserve Bank of San Francisco is looking for an experienced CBDC developer under a job opening titled “Senior Application Architect - Digital Currency”.

19.02 / 21:49

CBDC Digital Currency San Francisco Fed is Seeking CBDC Developer as More Countries Join the Race

The Federal Reserve Bank of San Francisco has announced a vacancy for a CBDC developer as the federal bank aims to explore the cost and benefits of the potential technologies for central bank digital currencies.

19.02 / 13:37

Blockchain CBDC Adoption Federal Reserve San Francisco federal bank eyes CBDC system development, reveals job posting

The Federal Reserve Bank of San Francisco is looking for a software engineer to help develop and implement systems related to a central bank digital currency (CBDC).

17.02 / 16:07

Blockchain regulation SEC LUNC Terra Lawyers ‘Wild’ — SEC going after Terra sparks responses from crypto lawyers

Terraform Labs and its founder, Do Kwon, are in the sights of the United States Securities and Exchange Commission (SEC), which has sparked various reactions from lawyers within the crypto community.

16.02 / 13:01

Adoption regulation Europe privacy European Union European Union discusses using zero-knowledge proofs for digital IDs

The European Union is famous for its ambivalent relationship with privacy — on the one hand, it was the first place in the world to apply strict data protection regulations. On the other, its central bank digital currency (CBDC) project lacks the anonymity standards of private cryptocurrencies.

15.02 / 17:19

scam Legal International Scammer French Court Jails 50-year-old International Crypto Scammer for Four Years

The 50-year-old mastermind of a “vast” and “international” French crypto scam that duped at least 14 victims out of over $375,000 has been sentenced to four years in prison.

15.02 / 09:27

business regulation FTX Court SBF and FTX fraud 'aided and abetted' by Silvergate Bank, alleges lawsuit

Silvergate Bank and its CEO Alan Lane have been accused of “aiding and abetting” a “multibillion-dollar fraudulent scheme orchestrated by Sam Bankman-Fried (SBF)” and two of his entities, FTX and Alameda Research, in a newly proposed class action lawsuit.

13.02 / 19:45

CEO coinbase Kraken Slash Cryptocurrency Firms Slash Staff After FTX Collapse

Cryptocurrency exchanges Kraken, Bybit, and Swyftx announced layoffs as the contagion from the collapse of the FTX exchange spreads.

09.02 / 17:41

regulation SEC Kraken Crypto Exchange Kraken in Hot Water with SEC Over Alleged Securities Violation – Here's What You Need to Know

The US-based crypto exchange Kraken is in hot water with regulators over an alleged violation of securities rules related to the selling of “unregistered securities.”

09.02 / 07:57

business Adoption Payments NASDAQ Federal Reserve Bitcoin Payments provider Affirm to sunset crypto program after 19% staff cut

Max Levchin, the CEO of buy-now-pay-later company Affirm, has confirmed that they will be shutting down their “Affirm Crypto Program” amid dampening consumer spending and a changing macroeconomic environment.

25.01 / 06:31

business Stablecoin CBDC Adoption Payments VISA Central Bank play Stablecoins and CBDCs might play 'meaningful role' in payments — Visa CEO

The chief executive of credit card giant Visa remains confident that blockchain-powered solutions can be integrated into its services and offerings to power the next generation of payments.

24.01 / 18:13

Blockchain UPS Provident Digital Career Pool 7 ways to address the dev talent shortage in the crypto industry

Ask any leader in any industry for a list of the significant issues they’re facing right now, and odds are they’ll mention the difficulty of finding and retaining top-quality talent. It’s been a long-term, ongoing issue when it comes to professionals with a technology focus, and as businesses across industries undergo digital transformation, it’s not just a problem for tech-focused companies anymore.

13.01 / 06:25

business Payments Wyre Crypto payments platform Wyre lifts 90% withdrawal cap

Crypto payment platform Wyre has lifted the 90% withdrawal limit it placed on its users earlier this week after securing additional funding.

11.01 / 15:15

FTX Fried Sam Did Sam Bankman-Fried in Effect Pay VC Firms Like Paradigm to Invest in FTX in a Circular Funding Arrangement?

New revelations indicate that there were some close links between Sam Bankman-Fried, the disgraced founder of collapsed cryptocurrency exchange FTX, and some of his major backers.

10.01 / 16:53

WSJ Transcript: San Francisco Fed President Mary Daly at WSJ Live Q&A Event

Federal Reserve Bank of San Francisco President Mary Daly discussed her outlook for the economy, inflation, wages and interest rates in an interview at a live Wall Street Journal event Monday. Here is a transcript lightly edited for clarity.

09.01 / 19:09

Provident Twitter CEO Wyre Withdrawals Wyre Limits Client Withdrawals to 90% so it Can ‘Navigate the Current Environment’

The crypto-focused payments provider Wyre has limited withdrawals for its clients to 90% of funds held in the account, citing a need to “navigate the current market environment.”

07.01 / 20:05

business Donations FTX Bankruptcy Fried Sam Sam Bankman-Fried's charitable donations sought by FTX: Report

FTX's new management is seeking to recover millions of dollars in donations made by the crypto exchange and its former CEO Sam Bankman-Fried, reports the Wall Street Journal.

06.01 / 12:31

business Blockchain wallet MetaMask reports MetaMask removes Wyre from aggregators amid shutdown reports

Crypto wallet MetaMask is ending support for services of Wyre crypto payment platform amid reports of Wyre planning to shut down operations soon.

22.12 / 00:31

regulation SEC ICO SEC files unregistered securities charges against Thor Token creators for 2018 ICO

The United States Securities and Exchange Commission (SEC) filed a complaint against Thor Technologies and its cofounder and CEO David Chin in U.S. District Court in San Francisco on Dec. 21. The SEC claimed that Thor’s 2018 initial coin offering (ICO) constituted an unregistered securities sale under the Securities Act of 1933.

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