FinTech
Crypto developers descend on Paris to party underground at the Catacombs as turmoil grips the industry
Skulls and bones stacked at the Catacombs of Paris AFP/Patrick Kovarik PARIS — About 65 feet below ground level in Paris is a labyrinth of centuries-old tunnels known as the Catacombs, which hold the skeletal remains of around six million Parisians. Legend has it that plague victims comprised some of the bones lining the hallways. […]
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Looking to get your funds out of a collapsed crypto platform? Don’t get your hopes up
Bankruptcy filings from Celsius and Voyager have raised questions about what happens to investors’ crypto when a platform fails. Rafael Henrique | Sopa Images | Lightrocket | Getty Images Traders hoping to recoup their funds from failed cryptocurrency exchanges anytime soon are likely to end up disappointed, legal experts tell CNBC. Crypto trading and lending […]
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Crypto miners moved over $300 million of bitcoin in one day, and some are dropping out altogether
New data from blockchain analytics firm CryptoQuant shows that miners are rapidly exiting their bitcoin positions. 14,000 bitcoin, worth more than $300 million at its current price, was transferred out of wallets belonging to miners in a single 24-hour period at the end of last week — and in the last few weeks, miners have […]
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Goldman-backed fintech Starling withdraws European bank license application in blow to global ambitions
Starling CEO Anne Boden. Harry Murphy | Sportsfile for Web Summit via Getty Images LONDON — British digital bank Starling is ending its bid to obtain a European banking license, dealing a significant setback to the company’s international expansion ambitions. The firm told staff Monday that it had withdrawn its application for a bank license […]
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Crypto exchange Binance fined $3.4 million by Dutch central bank for operating illegally
The logo of cryptocurrency exchange Binance displayed on a smartphone with stock market percentages in the background. Omar Marques | SOPA Images | LightRocket via Getty Images Binance, the world’s largest cryptocurrency exchange, on Monday was slapped with a 3.3 million euro ($3.4 million) fine from the Dutch central bank for operating in the Netherlands […]
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From $25 billion to $167 million: How a major crypto lender collapsed and dragged many investors down with it
Celsius filing for bankruptcy this week surprised virtually no one. Once a platform freezes customer assets, it’s typically all over. But just because the fall of this embattled crypto lender didn’t come as a shock, doesn’t mean it wasn’t a really big deal for the industry. In October 2021, CEO Alex Mashinsky said the crypto […]
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Richard Branson takes a stake in Lightyear, a start-up hoping to become Europe’s answer to Robinhood
The Lightyear app. Lightyear Lightyear, a European challenger to trading platform Robinhood, has raised $25 million of funding in an investment round backed by British billionaire Richard Branson. Silicon Valley’s Lightspeed Venture Partners led the deal, the company told CNBC exclusively — a rare vote of confidence for an upstart brokerage at a time when […]
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This ‘crypto winter’ is unlike any downturn in the history of digital currencies. Here’s why
There’s something about the latest crypto crash that makes it different from previous downturns. Artur Widak | Nurphoto | Getty Images The two words on every crypto investor’s lips right now are undoubtedly “crypto winter.” Cryptocurrencies have suffered a brutal comedown this year, losing $2 trillion in value since the height of a massive rally […]
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New York judge freezes assets of Three Arrows Capital as crypto firm’s founders remain underground
A federal judge in a New York bankruptcy court has frozen the remaining assets of crypto hedge fund Three Arrows Capital following the firm’s rapid fall from prominence. The fund, founded nearly a decade ago, managed $10 billion in assets just a few months ago. Now, its two co-founders are in hiding from angry creditors, […]
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Founders of bankrupt crypto hedge fund 3AC go missing, as investors try to recoup assets
The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images The co-founders of failed crypto hedge fund Three Arrows Capital appear to be on the run from creditors, according to court documents recently filed in New York. Lawyers representing the creditors say the physical whereabouts of Zhu […]
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