Crypto news

The host of CNBC’s Mad Money has been often grilled on social media for advising people to invest in assets that turn unprofitable or vice-versa. His latest example is the notorious Silicon Valley Bank, which became a victim of a bank run, and ultimately collapsed on Friday. Cramer Said Buy SVB Stock “This company is a merchant bank with a deposit base that Wall Street has mistakenly been concerned by,” explained Cramer in his show from February 8. He added that the bank was...

Eddy Alexandre – a man in New York – entered a guilty plea in mid-February this year after conducting a crypto fraud scheme that stole nearly $250 million from assorted investors. Eddy Alexandre Pleads Guilty Damian Williams – the U.S. attorney for the Southern District of New York – issued a statement claiming that Alexandre, between the months of September 2021 and May 2022, ran an illegal crypto exchange known as Emini FX. During that time, Alexandre solicited as much...

The cryptocurrency industry experienced its own set of failures last year when numerous internal companies and projects imploded, resulting in declining prices, countless bankruptcy filings, and, somewhat expectedly, lots of investor losses. This year started on a positive note, but crypto has once again taken a serious hit – this time, the most apparent reason coming from outside players. All of this has harmed the performance of bitcoin and most altcoins, resulting in yet...

Coinbase is upping its game in the recent staking battle begun by the Securities and Exchange Commission (SEC). The popular digital trading platform is moving to the frontlines and has vowed to become the top soldier in the war against staking practices. Coinbase Is Becoming a Staking Colonel Not long ago, the SEC struck at Kraken, a popular crypto exchange based in Northern California. As part of a court settlement, the firm vowed to cease all its staking services. It...

Bitcoin’s woes keep on coming as the asset plummeted to a new two-month low at $19,500 yesterday before bouncing off by over a grand. This comes amid the Silicon Valley Bank’s troubles and the apparent exposure of certain crypto firms, including Circle and its stablecoin, which lost its dollar parity. BTC Volatile Around $20K In a matter of almost a week, bitcoin had calmed at around $22,000 and failed to produce any significant moves in either direction. Yet, the asset is...

Following the second-largest bank collapse in American history on Friday, market participants are worried about which firms might be caught up in the contagion surrounding Silicon Valley Bank (SVB).  Here’s what venture capitalists and major crypto executives had to say about the failure – and why the crypto community is keeping an eye on Circle in the aftermath.  USDC, the second largest stablecoin and the one issued by Circle, has lost its peg across numerous exchanges. At...

The US Securities and Exchange Commission (SEC) filed an emergency action against the Miami-based financial advisor firm – BKCoin Management LLC – and its Co-Founder Kevin Kang, claiming they have defrauded investors with $100 million via a fraudulent crypto scheme. The agency seeks to impose financial penalties on the organization and a conduct-based injunction against Kang. Stealing for Personal Benefits? In a recent press release, the US securities regulator asserted that...

Mark Zuckerberg-led social media giant – Meta – is developing a decentralized text-based app called Codenamed P92. According to a report, users can log in to the new app through their Instagram credentials. The latter’s head, Adam Mosseri, has been roped in to lead the project. With the new app using existing Instagram data, including names, profile photos, and followers, among other things, this may not sit well with many since Meta has faced criticism in the past for its...

Blockchain.com started out as the first Bitcoin blockchain explorer back in 2011 and later expanded into wallet services, as well as hosting its own crypto exchange. Following years of growth, the company decided that 2022 was the year they would expand into asset management services. Unfortunately, the years of experience did not save the firm from the bear market. Operational for Just Under a Year Blockchain.com, which was worth about $14 billion when BCAM was launched,...

According to a March 9 Fox Business report, the next salvo in Uncle Sam’s war on crypto could be a massive class action lawsuit filed on behalf of retail investors against top exchanges. The outlet reported that leading securities lawyer Tom Grady is preparing for potential litigation against America’s largest crypto companies, including Coinbase, Robinhood, and Kraken. The allegation is the same old story that the Securities and Exchange Commission keeps repeating – illegal...