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Do Kwon to Be Released on €400,000 Bail, Pleads Not Guilty in Montenegro
12.5.2023
Terraform founder Do Kwon will be released from jail but placed under police surveillance at a local residence, a Montenegrin court has decided. The trial against him and another Korean, on charges of travelling on false documents, opened on Thursday with both pleading not guilty. Court Grants Bail...
Job Cuts at Silvergate as Crypto-Friendly Bank Winds Down After FTX Collapse
12.5.2023
Silvergate Capital, the parent company of now-defunct crypto-friendly bank Silvergate Bank, has announced another major layoff that would impact 230 employees.
In a recent filing with the Securities and Exchange Commission (SEC), the company said it would have just 80 employees left by the end...
GAO cites exposure to digital assets in exploring collapse of Signature Bank
11.5.2023
Michael Clements said the GAO had reviewed “large deposits from the digital asset space” in considering whether crypto had contributed to Signature’s failure
U.S. Internal Revenue Service Files Claims Worth $44 Billion Against FTX Bankruptcy
10.5.2023
The largest of the claims includes a $20.4 billion claim against Alameda Research LLC, which details nearly $20 billion in unpaid partnership taxes
Why Author Brady Dale Is 'Drowning' in Sam Bankman-Fried
9.5.2023
Before his business collapsed, FTX founder Sam Bankman-Fried built one of the cryptocurrency industry's largest exchanges and personal brands by dazzling the media, public and politicians. Axios reporter Brady Dale argues SBF's addiction to fame led to his notoriety
FTX's Sam Bankman-Fried Moves to Dismiss Most Criminal Charges Against Him
9.5.2023
FTX founder Sam Bankman-Fried filed pretrial motions to dismiss a majority of the charges he faces on various grounds late Monday
Bit4You’s Affairs in Doubt Even Before CoinLoan Collapse, Belgian Regulator Says
8.5.2023
FSMA’s concerns meant the exchange could have lost its license or even faced prosecution, even before the Estonian platform which held its funds filed for insolvency
Bitcoin Provides Insurance Against Fiat Currency Failure, Says Validus Power Corp.’s Greg Foss
7.5.2023
On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin....
SEC Probes First Republic Bank Executives for Insider Trading; Lawmakers Dump Bank’s Shares Before Collapse
6.5.2023
After the second largest bank failure in history, the U.S. Securities and Exchange Commission (SEC) is reportedly investigating First Republic Bank executives for allegedly engaging in insider trading. Two sources have claimed that the securities regulator is scrutinizing the bank’s...
Celsius Network's Mashinsky Refutes Blame for Crypto Lender's Collapse in Legal Battle – Here's the Latest
4.5.2023
Celsius Network co-founder and former CEO Alex Mashinsky has denied any wrongdoing and shrugged off blame for the collapse of the crypto lender.
In a Tuesday filing, Mashinsky’s lawyers called claims by New York Attorney General Letitia James that he misled investors about the financial health...
US Banking Industry in Turmoil: A Comprehensive Look at the ‘Great Consolidation’ and Largest Bank Failures of 2023
4.5.2023
2023 has been a rollercoaster ride for the U.S. banking industry. The collapse of three major banks has sent shockwaves through the financial world, with their combined assets surpassing the top 25 banks that crumbled in 2008. The following is a closer look at what has triggered a ‘great...
Robert Kennedy Jr Warns of Mega Economic Crisis — Says ‘It’s Not Just the Banks’
4.5.2023
U.S. Presidential Candidate Robert F. Kennedy Jr. has warned that “the banking collapse is the tip of an economic mega-crisis,” emphasizing that “It’s not just the banks.” He also slammed President Joe Biden’s crypto mining tax proposal. “It is a mistake for the U.S. government to hobble...
Hardware Wallets Gain Popularity as FTX Collapse Pushes Users to Self-Custody
3.5.2023
The FTX collapse pushed many users away from exchanges and into storing their own crypto. But the potential issue of human error remains.
FTX was not alone in creating this trend. Celsius Network, Three Arrows Capital, Terra, and other crypto companies failing in 2022, as well as the March 2023...
Analysts Warn of More Bank Failures, Possible Recession and Global Repercussions Caused by First Republic Bank Collapse
3.5.2023
The recent takeover of First Republic Bank, the fourth U.S. bank to fail this year, has awakened concerns about the possible repercussions this new failure might have on U.S. and international economies. While United States President Joe Biden has assured the public that the banking system remains...
Stabilizing the Banking System: Biden Reassures Public Amid First Republic Bank Collapse, but Warns of National Debt Default
1.5.2023
Amid the collapse of the second, third, and fourth largest banks in American history, U.S. president Joe Biden reassured the public that the country’s banking system remains sturdy. However, the president also acknowledged the “threat by the speaker of the House to default on...
Charlie Munger Raises Concerns Over Troubled Commercial Property Loans at US Banks
1.5.2023
Charlie Munger, the vice chairman of Berkshire Hathaway, stated in a recent interview that American banks are burdened with poor-quality commercial real estate loans. His comments arrive amid the collapse of three major U.S. banks and the expected seizure of First Republic Bank by the federal...
Billionaire Ray Dalio Warns US and China on Brink of War, Beyond Ability to Talk — US-China Trade Could Collapse
30.4.2023
Bridgewater Associates founder Ray Dalio has warned that the U.S. and China are “on the brink of war” and “are beyond the ability to talk.” The billionaire added that their relations “are getting so bad” that U.S.-China trade could collapse. He cautioned that the next 18 months “will be a very...
Reports by Fed and FDIC Reveal Vulnerabilities Behind 2 Major US Bank Failures
29.4.2023
On Friday, Michael Barr, the vice chair for supervision at the U.S. Federal Reserve, published a report on the vulnerabilities that led to the ultimate failure of Silicon Valley Bank (SVB). In addition, Marshall Gentry, the chief risk officer of the Federal Deposit Insurance Corporation (FDIC)...
“Opportunism and Demagoguery” Fuels the U.S. Regulatory Crackdown, Steptoe Partner Says
28.4.2023
Jason Weinstein, a partner at Steptoe, said this latest wave of crackdowns on the crypto industry is the worst he has ever seen
FTX Boss Ryan Salame’s Maryland Home Searched by FBI in Unexplained Raid
28.4.2023
According to unnamed sources, the home of Ryan Salame, the former co-chief executive of FTX Digital Markets, was searched by the U.S. Federal Bureau of Investigation (FBI) on Thursday. The grounds for the raid remain unknown, and neither Salame nor his legal representative have offered...