Tag Archives: Exchange News

White House officials Brian Deese, Arati Prabhakar, Cecilia Rouse, and Jake Sullivan have penned a letter calling on Congress to instill stricter crypto trading laws to ensure that something like the FTX debacle never occurs again. A Letter to Those in Charge The letter states: Congress could also make our jobs harder and worsen risks to investors and to the financial system. Legislation should not greenlight mainstream institutions, like pension funds, to dive headlong...

Democrat representative Jesus “Chuy” Garcia has been removed from the House Financial Services Committee following the overtaking of the House of Representatives by republicans and the implementation of Kevin McCarthy as House Speaker. Jesus Garcia Says “Bye” to Committee Position The decision to have Garcia removed appears to stem largely from allegations that he accepted money and donations from Sam Bankman-Fried, the disgraced crypto executive in charge of the now...

According to Sam Bankman-Fried, the disgraced head executive of the now defunct crypto exchange FTX, he only had about $100,000 to his name after his business fell into bankruptcy and he was arrested on alleged fraud charges. However, it appears federal prosecutors have seized as much as $700 million, all of which is believed to have been in accounts owned either by SBF himself or by the exchange. Sam Bankman-Fried Says He Only Had $100K In yet another string of lies,...

The Dutch Central Bank has thrown a $3.6 million penalty fee at Coinbase for allegedly failing to meet the region’s registration requirements prior to offering digital currency services in the Netherlands. Coinbase Hit with Huge Penalty Fee The bank says Coinbase has been operating on an unregistered basis since November of 2020. While the appropriate registration protocols were finally adhered to in September of 2022, the company went through a two-year period where it...

The FTX exchange, according to past testimony provided by its now disgraced founder and chief executive Sam Bankman-Fried, was initially designed as a way to merge both the crypto space and the traditional financial space together. FTX Started with Good Intentions In May of 2022, before the U.S. House Committee on Agriculture, SBF said the following: [FTX] was established to build a digital asset trading platform and exchange with a better user experience, customer...

The Gemini exchange, which is based in New York and run by Cameron and Tyler Winklevoss of “The Social Network” fame, is laying off another ten percent of its workforce and reducing its headcount by even more people. About 10% of Gemini Workers Are Saying “Bye” This is ultimately the third massive layoff stint the company has performed in the past year or so, though this is only the second one to be fully reported on. In the summer of last year, Gemini really caused a...

Not long ago, Live Bitcoin News reported that Genesis Global Capital – the lending division of the Digital Currency Group (DCG) – was preparing for bankruptcy. While it looked like the situation was inevitable, it was believed that there was potentially a small chance that the company was going to be able to survive its present ordeal. Sadly, it doesn’t look like that’s going to happen now as the firm has proceeded with its bankruptcy filing. Genesis Files Bankruptcy The...

Two months ago, Live Bitcoin News published an article discussing a new set of crypto regulations that were being unveiled by the state of New Jersey. Now, it appears New Hampshire is looking to follow in the region’s footsteps. Citing the FTX debacle as a massive wakeup call, New Hampshire is now looking to implement laws that will oversee trading and activity surrounding bitcoin and all related digital assets. New Hampshire Is Next to Implement Crypto Laws A new...

FTX may restart. That’s the crazy news for today, that one of the biggest crypto debacles could eventually turn itself around. The news has been greeted with positivity given that FTT – the native token of the now defunct crypto exchange – has risen by more than 35 percent at the time of writing. Could FTX Become Operational Again? Initially, the token was trading at about $1.83, though it has since risen to just over $2.50. John Ray III – the new CEO of the exchange who...

Just yesterday, Live Bitcoin News put out an article talking about a Russian crypto executive running an unlicensed money transmitting business. Known as Bitzlato, the crypto exchange was an unregistered trading platform for those who sought to use digital assets to obtain illicit products. The exchange also did very little to obtain necessary information about its clients and customers. Now, it looks like Binance – the world’s largest and most popular digital currency...