Forbes Financial News

Binance – the world’s largest crypto exchange – sought to onboard Gary Gensler, the current Chairman of the U.S Securities and Exchanges Commission (SEC), in 2018 and 2019. The crypto exchange wanted Gensler to serve as an adviser but the proposal was turned down, according to a report by the Wall Street Journal. Nonetheless, the current SEC Chair shared some “license strategies” with Ella Zhang – former head of Binance Labs, and Harry Zhou – an employee at Binance.

The United Arab Emirates (UAE) will soon have a new free zone for companies operating in the virtual and digital asset space. Ras al-Khaimah (RAK), one of the seven Emirates of the UAE, has announced its plans to create a free zone for digital and virtual assets firms.

Bitcoin, the world's leading cryptocurrency, has witnessed a sharp uptick in its price, surging by 2.2% in recent days. The sudden spike has reignited the discussion around Bitcoin's future trajectory and prompted investors to reassess their positions.

The biggest cryptocurrency exchange in the world, Binance, has refuted a Forbes article alleging that the company shifted $1.8 billion related to its users’ assets.

Binance – the world’s largest crypto exchange – continues to be embroiled in controversies. The latest report by Forbes states that the crypto exchange moved $1.8 billion of collateral backing customers’ stablecoin without their knowledge. The incident took place from August 2022 to December 2022, at a time when the crypto market had seen a major slump as a result ofFTX’s collapse.

The collapse of FTX was caused by “a very small group of grossly inexperienced and unsophisticated individuals,” the crypto exchange's new CEO, John Ray III, said today during a House Financial Services Committee hearing. Ray appeared before Congress alone as the former CEO of now-bankrupt FTX, Sam Bankman-Fried, was arrested yesterday in the Bahamas.

The Department of Motor Vehicles (DMV) in the state of California is conducting experiments with the use of a private Tezos blockchain to facilitate the digitalization of vehicle titles and title transfers.

The bear market and the wave of bankruptcies in the crypto industry drained $116 billion from the pockets of founders and investors in the past nine months, according to recent estimates by Forbes. 

Binance.US, the American franchise of the global crypto exchange Binance, will buy up remaining assets from the now-bankrupt crypto lender Voyager Digital as part of a newly announced and surprising deal.

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.

Nearly three weeks have passed since FTX founder Sam “SBF” Bankman-Fried announced that his exchange was facing a deep liquidity crisis, was unable to find a last-minute bailout, and was forced to file for Chapter 11 bankruptcy. The insolvency impacted millions of investors, leaving many portfolios completely wiped out.

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Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Khaby Lame creates his videos on TikTok without saying a single word. And yet, with more than 146 million, he is now the most-followed TikToker in the world.

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Ethereum's native token Ether (ETH) shows the potential to log major gains versus Bitcoin (BTC) with the ETH/BTC pair nearing yearly highs. 

A Bloomberg media subsidiary in Hong Kong is under legal challenge and being sued for defamatory comments on an article published by the publication about Binance Chief Executive Changpeng Zhao (CZ).

Private equity boss Orlando Bravo has a somber warning for the technology industry.

The world’s wealthiest individuals are also jumping on the crypto bandwagon because approximately 30% of the top 65 globe’s rich people have directly or indirectly invested in cryptocurrencies, according to a Forbes survey. 

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Ticketing platform SeatGeek and black-check firm RedBall Acquisition Corp. decided to terminate their $1.35 billion take-public deal amid a roller-coaster market.