Known on Twitter as Zack Morris and PJ Matlock, the founders of Atlas Trading and several alleged co-conspirators have been accused of stock manipulation by the U.S. Securities and Exchange Commission...
Tag: The Block
Cumberland sees better days for crypto in 2023 after market ‘rewires itself’
Cumberland sees adoption leading to a market recovery in 2023, but only after a “spat of volatility” as the “market rewires itself.” Jonah Van Bourg, the firm’s head of trading, said he expects ...
U.S. Justice Department weighs charging Binance and its executives: Reuters
The U.S. Justice Department is continuing to weigh up charging crypto exchange giant Binance for possible money laundering and criminal sanctions violations, according to Reuters. It is also l...
Crypto.com releases proof of reserves study conducted by Mazars
Crypto.com released a proof of reserves study it says enables users to verify that their assets are fully backed. The process was conducted by Mazars Group, which compared assets held in an on-c...
Bitcoin miner 360 Mining raises $2.25 million as it scales natural gas production
Bitcoin miner 360 Mining raised $2.25 million in a new funding round and plans to deploy the funds to increase natural gas production and mining capacity. The company’s plans were reveale...
Bitcoin miner Marathon won’t bid on bankrupt Compute North’s assets, CEO says
Crypto miner Marathon is not looking to buy any assets from bankrupt hosting provider Compute North, after considering a bid for a stake in the 280-megawatt wind power facility in Texas where it runs ...
Mastercard’s sees FTX collapse as crypto’s ‘time to reset’: TechCrunch
Grace Berkery, director of startup engagement at the payment processing firm Mastercard, thinks the collapse of FTX will ultimately be a positive for the industry. “I think it’s an opportunity ...
Signature Bank adopts caps to reduce concentration of crypto deposits
Signature Bank, long known as being friendly to crypto clients, is introducing caps to reduce the concentration of deposits from clients in the digital asset industry to below 20% of total bank deposi...
Cawthorn violated ethics rules around ‘LGB Coin,’ House Ethics Committee says
The U.S. House of Representatives Ethics Committee has ordered Rep. Madison Cawthorn, R-N.C., to pay more than $15,000 in punitive donations and fines as a result of his violation of congressional and...
Senators want more info on Silvergate’s ‘egregious failure’ on FTX
A bipartisan group of senators want more information from Silvergate Bank, a bank that caters to crypto and fintech clients, about the bank’s current financial wellbeing, while also taking the c...
From 70% drop to 1,300% jump, Novogratz, Draper and more chime in on future
Trying to figure out where bitcoin’s going to go in 2023? You’re probably better off asking a Magic 8 ball. Bitcoin is down some 65% over the past year and the outlook for 2023 is &#...
Gensler to brief House Democrats in run-up to FTX hearing: Exclusive
Democrats of the House Financial Services Committee will hear from Securities and Exchange Commission Chair Gary Gensler in the lead-up to a hearing on FTX next week. Gensler will speak at a Dem...
FTC investigating crypto firms over misleading advertising: Bloomberg
The U.S. Federal Trade Commission is looking into several unnamed crypto firms over allegations of deceptive or misleading advertising, the agency told Boomberg News. A spokesperson for the regu...
House committee leader says Bankman-Fried has ‘sufficient’ knowledge for testimony
Rep. Maxine Waters, D-Calif., is not buying Sam Bankman-Fried’s excuse for not testifying next week about the collapse of the FTX crypto exchange at a hearing before the House Financial Services...
Cryptocurrencies rise as shares of Block and Silvergate decline with traditional markets
Crypto prices were in the green on Monday while stocks declined across the board. Grayscale’s ether trust hit a new low. Bitcoin has been trading above $17,000 since about noon EST on Sun...
2-hour sit-down with Sam Bankman-Fried on the FTX scandal
Episode 121 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro, and Sam Bankman-Fried, Co-Founder of FTX and Alameda Research. Listen below, and subscribe to Th...
BlockFi’s bankruptcy is the latest blow for a bleeding Bitcoin mining industry
As if crashing crypto assets, high energy prices and increasing difficulty in mining weren’t enough, now Bitcoin miners face the fallout from BlockFi’s bankruptcy protection filing. ...
Galaxy Digital to acquire custodian GK8 from bankrupt Celsius
Galaxy Digital agreed to purchase high-security custodian GK8 from bankrupt crypto lender Celsius. Galaxy will support GK8’s self-custody solution in the ongoing development of GalaxyOne,...
Trends in Digital Asset Markets- Commissioned by Polygon
Executive Summary “The institutions are coming.” For the longest time, the phrase was echoed ad-nauseam by crypto bulls. So much so, that after years of minimal institutional adoption, it ...
Bankman-Fried-backed bill on hold until next Congress, says Senate chair
The Digital Commodities Consumer Protection Act, or DCCPA, whose association with Sam Bankman-Fried has come under added scrutiny following FTX’s collapse, is on pause until next year. Senate Ag...
‘I wasn’t even trying to do risk management,’ Sam Bankman-Fried tells ABC
Sam Bankman-Fried claimed that he didn’t spend time doing any risk management at FTX in yet another interview following the exchange’s collapse. The now disgraced FTX co-founder stru...
Bitcoin clings to two-week high, crypto stocks continue to tick upward
Crypto prices are holding steady at their highest since the FTX fiasco in early November, in line with broader financial markets. Bitcoin rose 1.8% since yesterday, trading at $17,132 at 8:45 a....
Genesis creditors organize in bid to forestall bankruptcy move: Bloomberg
Crypto firm Genesis Global Capital warned last week about a possible bankruptcy filing, and now some of its creditors are pursuing options in order to prevent such a move. Law firms Proskauer Ro...
Bitso cuts more staff in fresh round of layoffs
Mexico-based crypto exchange Bitso has let go of an unspecified number of workers in a fresh round of layoffs, about six months after cutting about 80 employees. “Bitso made the difficult ...
Bitcoin, ether tick higher as Silvergate stock dips, GBTC discount widens
Cryptocurrencies traded higher, while some crypto-related stocks dipped over contagion fears. Bitcoin rose 1.6% from yesterday, trading at $16,448 at 8:30 a.m. Eastern, according to CoinGecko. ...
Candy Digital NFT shop lays off large number of employees amid market deterioration
Digital collectibles firm Candy Digital, financially backed by industry heavyweights Mike Novogratz and Gary Vaynerchuk, has cut a large number of jobs — perhaps as much as half of its employees — rou...