Cryptocurrency
Grayscale sues SEC after rejection of bid to turn the largest bitcoin fund into an ETF
The SEC on Wednesday rejected Grayscale’s application for a spot bitcoin ETF, citing a failure by the investment manager to answer questions about concerns around market manipulation. Nurphoto | Nurphoto | Getty Images Grayscale, which manages the world’s largest bitcoin fund, said it would sue the U.S. Securities and Exchange Commission after regulators turned down […]
Read More
Crypto exchange CoinFlex probably won’t resume withdrawals Thursday as planned, says CEO
Bitcoin and and other cryptocurrencies are in free fall. Dan Kitwood | Getty Images Embattled cryptocurrency exchange CoinFlex will probably not be able to let customers withdraw money again on Thursday as it originally planned, CEO Mark Lamb said on Wednesday. “We will need more time. And it’s unlikely that withdrawals will be re-enabled tomorrow,” […]
Read More
Crypto exchange CoinFlex claims ‘Bitcoin Jesus’ is the investor behind $47 million debt
Roger Ver, chief executive officer of Bitcoin.com. Anthony Kwan | Bloomberg | Getty Images Digital asset exchange CoinFlex is locked in a public battle with long-time cryptocurrency investor Roger Ver over a $47 million debt, reflecting the latest saga to unfold amid the market crash. On Tuesday, CoinFlex CEO Mark Lamb named Roger Ver, who […]
Read More
Crypto hedge fund Three Arrows Capital plunges into liquidation as market crash takes toll
Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Major cryptocurrency hedge fund Three Arrows […]
Read More
Bitcoin briefly drops below $20,000 again as pressure continues to mount on crypto market
Bitcoin and other cryptocurrencies fell sharply as investors dump risk assets. A crypto lending company called Celsius is pausing withdrawals for its customers, sparking fears of contagion into the broader market. Nurphoto | Nurphoto | Getty Images Bitcoin fell below $20,000 on Wednesday as a number of factors from macroeconomic worries to issues with cryptocurrency […]
Read More
Crypto is not replacing the U.S. dollar, Bitfury CEO Brian Brooks says
Crypto prices should be viewed more like internet stocks than currency, said Brian Brooks, the former U.S. Acting Comptroller of the Currency during the Trump Administration. The biggest misunderstanding around cryptocurrencies is that if they’re “not doing a great job of replacing the U.S. dollar, then crypto is failing in its mission,” Brooks, now the […]
Read More
Snoop Dogg on the current crypto winter and future of NFTs: ‘Every great industry has a downfall’
Perhaps the most prominent celebrity figure in the Web3 zeitgeist is Snoop Dogg, but for Snoop being an early adopter is nothing new. In 2014, the rap icon was part of a $50 million investment into Reddit, which valued the company at around $500 million at the time. Today, the platform is worth $15 billion, […]
Read More
Cathie Wood: NFTs, DeFi, digital wallets will become important, huge opportunities
Cathie Wood, chief executive officer and chief investment officer, Ark Invest, speaks during the Milken Institute Global Conference on May 2, 2022 in Beverly Hills, California. Patrick T. Fallon | AFP | Getty Images Ark Invest CEO Cathie Wood said Tuesday that digital property rights related to non-fungible tokens (NFTs) and decentralized finance (DeFi) that […]
Read More
Crypto exchange CoinFlex is raising $47 million through a new coin after a major investor fails to pay debt
A cryptocurrency price crash and the onset of a new so-called “crypto winter” has left many companies in the industry facing a liquidity crisis. Artur Widak | Nurphoto | Getty Images Cryptocurrency exchange CoinFlex on Tuesday issued a new token to raise funds in a bid to restart withdrawals for its customers, after one client […]
Read More
How a $60 billion crypto collapse got regulators worried
The stunning collapse of a token that was meant to always be worth $1 has roiled investors — and regulators. Stablecoins are supposed to be everything tokens like bitcoin and ether aren’t. Whereas bitcoin’s price fluctuates sharply, stablecoins are designed to be worth the same as something else — usually the U.S. dollar. Many stablecoins […]
Read More