A class action lawsuit has been filed against the founders, two administrators and the Gemini exchange platform by an investor who has about $2 million in funds frozen at the failed crypto lender, Blo...
Tag: Failure
Solana trolled on Twitter over latest network failure
Solana (SOL) has come under online mockery and criticism from Twitter’s crypto community after another significant outage affecting the network’s operations over the weekend. The community, known for ...
Frax Ditches Algorithmic Backing, Citing Terra Failure
The community governance for stablecoin issuer Frax has voted to increase the collateral ratio for its stablecoin to 100%, removing the small algorithmic component which contributed to its value. Frax...
Fame, fortune, and failure with Terra’s Do Kwon
The crypto world is abuzz with the news of charges filed by the United States Securities and Exchange Commission (SEC) against Terra and its founder, Do Kwon. What’s surprising is not just the charge...
FAA wants to fine SpaceX over failure to submit launch data
A Falcon 9 rocket launches a batch of Starlink satellites to orbit on April 29, 2022. SpaceX The Federal Aviation Administration seeks a $175,000 fine against Elon Musk’s SpaceX, alleging the co...
Terra’s classic stablecoin surges on BUSD failure, but is still only worth $0.03
Ad The depegged stablecoin Terra Classic USD (USTC) regained a small amount of value today alongside news that issuance of Binance USD (BUSD) will be halted. The price of USTC rose 19.14% to 3.1 cents...
Failure to Breach Resistance Breaks CHZ’s Bullish Momentum
The bullish trend in the CHZ market fades after hitting resistance at $0.1394. Indicators imply that the bear rule in the CHZ market is far from over. CHZ price drops by more than 8% as bulls despair....
Of Hype and Ignorance: The Failure of the First NFT ETF
The first NFT ETF(Exchange-Traded Fund) NFTZ, has announced its shutdown after failing to capture the attention of investors. This news disappoints many in the industry who saw NFT ETFs as the future ...
Penalty and Jail Under Indian Budget 2023 for Failure to Pay TDS
3 hours ago | 2 mins read Blockchain News TDS penalty introduction has an effect on the crypto sector. The year 2022 is described as a “period of pain” for crypto in India. Indian Finance Minister, Ni...
Failure of FTX demonstrates the need for reform of private placements, Says SEC officials – Cryptopolitan
FTX was overgrowing after its foundation in 2019, and in 2021, it had more than 1 million users worldwide. Similarly, it was the third-largest crypto exchange in terms of volume and had invested billi...
White House Blames Congress for Failure to Enact Crypto Regulations
The White House pointed the finger at Congress Friday for stalling on a comprehensive, national crypto regulatory framework, outlining numerous actions lawmakers could take to reign-in fraud and bad a...
The Impact Of The SAFE Banking Act Failure
(Photo by David McNew/Getty Images) Getty Images Key takeaways The SAFE Banking Act is a bill designed to allow cannabis companies to access mainstream financial services, as it remains illegal at a F...
The state of the market after the FTX bankruptcy
Since the bankruptcy of FTX, the exchange whose CEO was Sam Bankman-Fried, many vicissitudes have taken place in the blockchain industry. For example, Bitget, the industry-leading cryptocurrency deriv...
FTX’s Failure Highlights Need for Federally-Mandated insurance
The usual conversations are taking place about what new regulations need to be enacted to prevent another FTX. While it is obvious something needs to happen, experience makes clear that the current re...
Sam published “FTX Pre-Mortem Overview”: Highlights Reasons for Failure
Sam published an extensive Substack article on Thursday. The article says that both FTX and Alameda were doing great in 2021. Further highlights the reasons for the collapse and his commitment to re...
Why Catastrophic Scenario Testing Beyond Manufacturing is Essential for Critical Infrastructure Security
390873 11: Jets taxi after sunset June 21, 2001 at Los Angeles International Airport. The airport … [+] had the highest number of near-collisions among the nation”s busiest airports in a r...
Virgin Orbit stock plummets after UK launch failure
Cosmic Girl, a Virgin Boeing 747-400 aircraft sits on the tarmac with Virgin Orbit’s LauncherOne rocket attached to the wing, ahead of the first UK launch tonight, at Spaceport Cornwall at Newqu...
Logan Paul, a popular YouTuber, apologizes for the CryptoZoo project’s failure
Join Our Telegram channel to stay up to date on breaking news coverage Logan Paul, a YouTuber, has expressed regret to followers who lost money after betting on his cryptocurrency game, CryptoZoo. The...
Coinbase to pay $100 million over failure to scale AML as business boomed
Coinbase reached a $100 million settlement with the New York Department of Financial Services following investigations into failures in its compliance program. The NYDFS fined Coinbase $50 milli...
Buttigieg Says Airline Is Facing ‘System Failure’ As Thousands Of Flights Are Canceled
Topline Southwest Airlines canceled just over 2,500 additional flights on Wednesday, a day after CEO Bob Jordan apologized to travelers for the thousands of cancellations that began last weekend, a si...
Binance Faces €2.4m Lawsuit Linked To TerraUSD Failure
Binance’s French subsidiary, Binance France, has been sued by fifteen investors who claim that the cryptocurrency giant violated local regulations by misleading customers. The French subsidiary ...
Cannabis Stocks Tumble On Third Failure Of SAFE Banking Act
(Photo by Uriel Sinai/Getty Images) Getty Images Key Takeaways There are reports that the SAFE Banking Act will be excluded from a must-pass bill, marking the third time it’s failed to get through the...
Iridium Rings Back In As Sat-Phone Powerhouse After Years Of Failure And Obscurity
SpaceX (Photo by Michael Gonzalez/Getty Images) Getty Images Wireless technology has come a long way during the past two decades, yet smartphones are still useless in the most remote areas. Satellite ...
OKX stops working because of Alibaba Cloud Hardware failure
On Dec. 18, the OKX cryptocurrency exchange had service delays when key infrastructure supplier Alibaba Cloud disclosed a hardware failure at one of its data centers in Hong Kong. There is currently a...
No withdrawals on OKX for almost seven hours amid cloud failure
Crypto exchange OKX hasn’t processed any withdrawals for almost seven hours owing to a failure with its cloud services provider. The exchange shows a partial outage for deposits and withdr...
FTX was an ‘utter failure of corporate controls at every level of an organization’, says new CEO
John Ray, who took over as CEO of crypto exchange FTX amid bankruptcy proceedings, has provided detailed written testimony ahead of his Dec. 13 appearance before the United States House Financial Serv...
SBF admits responsibility for FTX failure in Twitter space but remains vague on details
FTX co-founder Sam-Bankman Fried gave ambiguous answers to questions about the mixing of user funds, investing in The Block, and more during a recent Twitter space hosted by Autism Capital. In respons...
Balaji Srinivasan Says FTX Is a Preview of State Failure, USD Bank Accounts Could Be Frozen or Inflated to Worthlessness – Economics Bitcoin News
Angel investor Balaji Srinivasan says the collapse of crypto exchange FTX should be treated as “a preview of state failure.” He warned that one day U.S. dollar bank accounts “may be frozen or inflated...
The Block CEO resigns after failure to disclose loans from Bankman-Fried’s Alameda
The Block Chief Executive Officer Michael McCaffrey resigned after failing to disclose a series of loans from disgraced former FTX head Sam Bankman-Fried’s Alameda Research. He was the only person wit...
Markets for Critical Minerals Are Too Prone to Failure
Text size Workers inspect an open cast at Arcadia Lithium mine on January 11, 2022 in Goromonzi, Zimbabwe. Tafadzwa Ufumeli/Getty Images About the authors: Cullen Hendrix is senior fellow at the Peter...