United States Financial News

22.12 / 15:49

business Ripple Court Ripple CEO compares Wells Fargo billions mismanagement with FTX collapse

Amid the heated-up news steam about the FTX drama, Ripple CEO Brad Garlinghouse has tried to turn the public’s attention to another case regarding the misdeeds of traditional finance. A $3.7 billion fine for mismanagement at Wells Fargo bank was treated as, in Garlinghouse’s words, “barely a blip on the radar.”

22.12 / 10:45

business CFTC SEC Alameda's Caroline Ellison and FTX's Gary Wang hit with additional fraud charges

The United States Securities and Exchange Commission (SEC) and the Commodities Futures Trading Commission (CFTC) have hit former Alameda Research CEO Caroline Ellison and former FTX co-founder Gary Wang with fresh fraud charges.

21.12 / 21:15

Law regulation FTX Fried Sam Extradition Sam Bankman-Fried is one step closer to US extradition: Report

Former FTX CEO Sam Bankman-Fried, who has been in the custody of Bahamian authorities, faces extradition to the United States following a hearing.

21.12 / 12:47

Law regulation regulatory Alaska adds 'virtual currency' to its regulatory regime

From Jan. 1, 2023, the term “virtual currency” will take its place in the money transmission regulations of Alaska. It will oblige the companies dealing with digital currencies to obtain a money transmission license in the state.

21.12 / 11:05

business Bitcoin Bitcoin Miner Bitcoin miner Core Scientific reportedly files for Chapter 11 bankruptcy

Just days after creditors offered to help Core Scientific — a Bitcoin (BTC) mining company — avoid possible bankruptcy, reports emerged confirming the business’ inevitable fate. Core Scientific reportedly filed for Chapter 11 bankruptcy protection in Texas owing to falling revenue and BTC prices.

21.12 / 03:55

business Law Court Extradition SBF signs extradition papers, set to return to face charges in the US

Sam Bankman-Fried, the jailed founder of the FTX cryptocurrency exchange has reportedly signed papers on Dec. 20 waiving his extradition hearing in the Bahamasand see him flown to the United States to face multiple criminal charges.

21.12 / 00:29

Law SEC Congress 4 legislative predictions for crypto in 2023

If you saw the returns in my crypto portfolio this year, you would take a pass on my predictions for the direction of the cryptocurrency market. So, I will stick to what I know and share some regulatory predictions for the crypto industry.

20.12 / 11:47

business exchanges BItlicense services Gate.io closer to launching US services after receiving local licenses

Gate US, the United States arm of the fourth largest cryptocurrency exchange by trading volume, Gate.io says it has received operating licenses in “several” states, bringing it closer to launching services in the country.

20.12 / 11:47

Altcoin Bitcoin Police body cam leaks suspect's seed phrase during vehicle inspection

While self-custody is considered the ultimate way to secure one’s funds, many fail to acknowledge the risks associated with physically storing seed phrases. A search conducted by the State Police agency for Nevada ended up making a suspect’s seed phrase public after being picked up by the body cam.

20.12 / 07:29

business Funding Political Donations FTX warns it will claw back political donations and contributions

Bankrupt cryptocurrency exchange FTX says it is considering using legal avenues to recover all payments and contributions handed out by its associated entities and former executives, which could include the millions in political donations made from its former CEO Sam Bankman-Fried.

20.12 / 02:05

Law regulation FTX Fried Sam Extradition Customers Sam Bankman-Fried agrees to US extradition 'to put the customers right': Report

Former FTX CEO Sam Bankman-Fried, currently in the custody of Bahamian authorities, has reportedly agreed to be extradited to the United States to face charges.

20.12 / 00:55

Law regulation Congress committee Next House committee chair reintroduces bill on crypto innovation

North Carolina Representative Patrick McHenry, the current ranking member of the House Financial Services Committee and chair starting in January, has reintroduced legislation aimed at creating innovation offices within government agencies dealing with financial services.

19.12 / 23:03

CFTC SEC Fried Sam Extradition Sam Bankman-Fried arrested and consented to the extradition — Law Decoded, Dec. 12-19.

Welcome to Law Decoded, your weekly digest of all the major developments in the field of regulation.

19.12 / 20:57

Law regulation FTX Fried Sam Extradition Sam Bankman-Fried wants to see indictment before extradition to US: Report

Former FTX chief executive officer Sam Bankman-Fried, who is currently facing multiple charges related to wire fraud and securities fraud, reportedly said he wanted to see the indictment against him before agreeing to extradition to the United States.

19.12 / 08:55

Blockchain Scams Court Jail $4B OneCoin scam co-founder pleads guilty, faces 60 years jail

Karl Sebastian Greenwood, the co-founder of the multi-billion dollar fraudulent cryptocurrency scheme OneCoin has pleaded guilty to multiple charges brought forward by the United States Department of Justice (DOJ) and faces a maximum of 60 years in prison.

19.12 / 03:29

business Interest rates Reserve The Federal Reserve's pursuit of a 'reverse wealth effect' is undermining crypto

The Federal Reserve’s strategy to hike interest rates may continue, making it difficult for the crypto industry to bounce back. For crypto assets to become the hedge against inflation, the industry needs to explore ways to decouple crypto from traditional markets. Decentralized finance (DeFi) can perhaps offer a way out by breaking away from legacy financial models.

17.12 / 08:17

business regulation Democrats to reportedly return over $1M of SBF's funding to FTX victims

Following the arrest of former FTX CEO Sam Bankman-Fried (SBF), three prominent Democratic groups have reportedly decided to return over $1 million to investors that lost their funds due to misappropriation.

17.12 / 00:05

Law regulation Congress financial stability Financial US Financial Stability Oversight Council urges congressional action on crypto

Officials with the United States Financial Stability Oversight Council, or FSOC, have recommended U.S. lawmakers pass legislation aimed at addressing regulatory gaps for crypto-related activities.

16.12 / 14:13

Binance Bitcoin reserves Binance proof-of-reserves removed from the auditor's site

Crypto exchange Binance has seen its proof-of-reserve (PoR) audits removed from the auditor Mazars’ website.

16.12 / 09:07

Government Blockchain Bitcoin services committee Financial New House Financial Services Committee chair wants to delay crypto tax changes

The incoming United States House Financial Services Committee chair Patrick McHenry wants the Treasury to delay the implementation of a section of the Infrastructure Investment and Jobs Act that deals with digital assets and tax collection.

16.12 / 09:07

regulation Trading Scams Charges laid over alleged ‘crypto mining’ Ponzis that netted $8.4M

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.

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