Genesis, its parent Digital Currency Group, Gemini and other creditors have reached a bankruptcy agreement to recover assets. Sean O’Neal, a lawyer representing the debtors, said the sides agre...
Tag: Policy
Former Coinbase manager seeks to dismiss watershed insider trading case
Lawyers are asking a judge to dismiss a case against their client, a former Coinbase manager and his brother, arguing that the tokens involved are not securities. In an 81-page brief, lawyers f...
Binance to temporarily suspend USD transfers on Feb. 8
Binance said Monday that it would temporarily halt U.S. dollar transfers on Feb. 8, a move the company claims would only affect a “small proportion” of its users. “It is worth noting...
Judge delays FTX examiner ruling in hopes of ‘consensual resolution’
A federal bankruptcy court judge in Delaware did not rule on whether to appoint an examiner in FTX’s enormous bankruptcy case, and instead will allow lawyers to discuss a “consensual resolution” on th...
DCG and Genesis branches agree on a restructuring plan: CoinDesk
Digital Currency Group and Genesis subsidiaries have reached an initial agreement on a restructuring plan with a group of the firm’s main creditors, according to CoinDesk. This comes after Gene...
Bankman-Fried’s texts may harm his legal defense
Sam Bankman-Fried just threw a wrench in his criminal trial before it even started. A judge barred Bankman-Fried from using “encrypted or ephemeral” messaging apps like Signal until a court hear...
FTX debtors want political donations returned by end of the month
Troubled crypto exchange FTX is asking political figures and groups to return donations linked to former CEO Sam Bankman-Fried and other FTX executives by the end of February. FTX is sending con...
ECB Hikes Policy Rate by 50 bps; Signals End of Hawkish Stance
The European Central Bank (ECB) recently brought an end to its long-running series of interest rate hikes, marking a new chapter for the eurozone economy. The ECB’s actions play a crucial ...
CFTC ‘well-positioned’ to fill regulatory gap in crypto: Behnam
Turmoil in the cryptocurrency markets shows action is needed and the Commodity Futures Trading Commission is “well-positioned” to fill a regulatory gap in cryptocurrency markets if Congress chooses, t...
A CFTC commissioner’s enthusiasm for crypto draws attention
The courtship between the crypto industry and Washington, D.C. captivated the financial policy world over the past year. As that saga has played out, Caroline Pham emerged as something of a cele...
Justice Department probes Silvergate’s relationship with FTX: Bloomberg
The Justice Department’s fraud department has begun probing Silvergate’s handling of accounts for Sam Bankman-Fried’s firms, Bloomberg reported, citing unnamed people familiar with the matter. T...
‘Crypto Voldemort’ Charlie Munger calls for U.S. ban, again
Charlie Munger, vice chairman of Berkshire Hathaway and longtime crypto critic, used an op-ed in the Wall Street Journal published late Tuesday to call for a ban on cryptocurrencies in the U.S. Munger...
State officials support push for independent examiner in FTX bankruptcy
Officials from more than a dozen states want a federal bankruptcy judge to appoint a third-party examiner of FTX’s finances, citing the need for more transparency about the collapsed crypto exch...
Federal Reserve raises interest rates by 25 basis points, as expected
The U.S. Federal Reserve raised the target range for the federal funds rate by 25 basis points to 4.5-4.75 percent, bringing the interest rate to a 15-year high. Wednesday’s interest rate decisi...
Tether denies it borrowed $2B from Celsius, as described in court report
Stablecoin issuer Tether is pushing back against assertions that it borrowed funds from failed crypto lender Celsius. According to a nearly 700-page report filed Tuesday from court-appointed ex...
Judge approves Core Scientific’s $70 million loan from B. Riley
Bankrupt bitcoin miner Core Scientific got the green light from a bankruptcy judge to move forward with a $70 million debtor-in-possession (DIP) loan from B. Riley. Representatives of the compan...
Policy Experts Warn SEC Could Possibly Get More Ferocious
Policymakers Sheila Warren and Miller Whitehouse-Levine believe there will be regulatory changes due to the FTX’s collapse. Warren and Whitehouse-Levine were speaking on Laura Shin’s Unchained podcast...
Celsius creditors contemplate next steps following examiner report
Despite a damning report from a court-appointed examiner, lawyers representing former Celsius customers told clients they are still in talks with the company around a “recovery corporation”...
CME’s crypto derivatives reach new highs as traders seek safe port in storm
Derivatives trading giant CME Group has clocked a record high in volume and open interest for bitcoin options as traders flock to the venue in the wake of the FTX meltdown. Bitcoin options volum...
Highlights from the court report detailing Celsius’ Ponzi-like downfall
Celsius Networks used to promise customers ”financial freedom” with a ”community first” company that sold products safer than a bank. ”We are Celsius. We dream big,”...
Core Scientific reaches deal with B. Riley for $70 million replacement loan
Bankrupt bitcoin miner Core Scientific has reached a new $70 million loan agreement with B. Riley. The company has asked the court to approve the financing as a replacement for the $75 million debtor-...
What Is The Pentagon’s Updated Policy On Killer Robots?
The Pentagon has issued an update to its Directive 3000.09, which covers what they term Autonomy in Weapon Systems and others call ‘killer robots.’ Current drones like the Air Force and CIA MQ-9 Reape...
A preview of the ECB monetary policy decision: what to expect?
The European Central Bank (ECB) will announce its monetary policy decision on Thursday. It is the first time the ECB meets in 2023, and the market expects a 50bp rate hike. It will bring the main refi...
Here’s The Monstrous Misconception That’s Misshaping Federal Reserve Policy
The Federal Reserve is raising interest rates again this week to combat inflation. Its thinking, shared by most economists, is that only by slowing the economy and putting people out of work, can infl...
Co-signers of Bankman-Fried’s $250 million bond a step closer to becoming public
The names of two people who co-signed for disgraced FTX founder Sam Bankman-Fried’s bond are one step closer to becoming public after a federal judge granted a motion to unseal their names. The identi...
FTX-linked Alameda Research sues Voyager Digital for over $445M
Troubled crypto trading firm Alameda Research is suing failed crypto lender Voyager Digital for more than $445 million, seeking to recover loan repayments that it made after Voyager filed for bankrupt...
Osprey Funds sues competitor Grayscale over bitcoin trust advertising
Osprey Funds, which provides asset management services, accused Grayscale Investments of “unfair and deceptive acts and unfair competition.” Osprey said Grayscale’s advertisements were mis...
How The Industry Designed To Keep Us Well Is Also Making Our Planet – And Our Bodies – Sick
Healthcare systems undertake a fundamental and challenging mission: keeping us healthy. But true health and wellbeing extends beyond hospital walls and examination rooms. Our bodies and minds, after a...
‘My stepmother has been less than ethical’: I suspect my stepmom removed me as beneficiary from my late father’s life-insurance policy. What can I do?
Dear Quentin, My dad passed away in March 2019. My stepmom told me I had an inheritance from my dad. She ceased communication with me after my dad passed away. I reached out to the Department of Fina...