Cryptocurrency Crash

He was found guilty of multiple counts of fraud in 2023 after the spectacular crash of his cryptocurrency exchange FTX.

The Federal Reserve Bank of Chicago has blamed the downfalls of BlockFi, Celsius, FTX, Genesis (in partnership with Gemini), and Voyager Digital major reasons behind the ongoing banking crisis in the US. Several crypto firms laid off staff members while the others filed for bankruptcy last year, leading to the outflows of large crypto investments.

Montenegrin police on Friday formally charged Do Kwon, the cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion (nearly Rs. 3,29,500 crore) or more last year, for forging official documents after arresting him on Podgorica airport.

Bitcoin has recorded a 26 percent gain so far in January, as the world's most popular cryptocurrency makes a sharp recovery from the global crypto meltdown that began in October 2022. Amid a rise in the value of cryptocurrencies, Bonk, a memecoin launched at the end of December on the Solana blockchain, rocketed 5,000 percent by early January.

Despite the ongoing slump in the crypto market, industry analysts are optimistic that this downturn has filtered out shaky and evidently risky firms from the already volatile industry, Circle CSO Dante Disparte said in a recent post for the World Economic Forum (WEF).

Binance's $1 billion (roughly Rs. 8,275 crore) acquisition of bankrupt crypto lender Voyager Digital could be delayed or blocked by a US national security review, according to a Friday bankruptcy court filing. Binance is owned by Chinese-born and Singapore-based Changpeng Zhao and has no permanent headquarters.

The founder of the failed crypto exchange FTX has written to his former employees apologising for his role in its collapse and continuing to insist its downfall can be solely explained by a misplaced $8 billion (roughly Rs. 64,940 crore).

FTX's collapse has galvanised regulators globally who are set to target the crypto sector and 'conglomerate' platforms in 2023, according to IOSCO Chairperson Jean-Paul Servais. Crypto assets like Bitcoin have been around for years but regulators have resisted jumping in to write new rules, but the implosion at FTX, which left an estimated one mill...

The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such 'conglomerate' platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview.

CoinSwitch Kuber has claimed to have received a verification of its balance sheets from INMACS. The aim was to prove that the Indian crypto exchange holds sufficient reserves to match its customer investments. It is however, noteworthy, that the report confirms of CoinSwitch’s fund sufficiency as of November 4, 2022, that is over two weeks ago. I...

HSBC, Mastercard and Wells Fargo, along with other banks, have launched a digital dollar blockchain project named the ‘Regulated Liability Network (RLN)’. The launch of RLN is essentially a trial that will run for twelve weeks and singularly operate in co-relation with the US dollar. This result of this trial is expected to become an important ...

Curve payments company is looking to purchase over than 87,000 credit card customers from BlockFi crypto lender whose credit cards have been suspended this November. If Curve’s acquisition deal comes through, it will continue to allow users to earn crypto awards. The company has also said that the users will not be ported to yet another centrally...

Indian-origin Nishad Singh is under scrutiny for financial practices that caused the stunning collapse of FTX, one of the world's largest cryptocurrency exchanges, which is now staring at bankruptcy. He, along with 9 others, lived with FTX founder.

Major crypto tokens slipped on Friday on some profit booking after a strong rally in the last few days. Bitcoin was above the $20,000 (roughly Rs. 16.49 crore) level, whereas Ethereum managed to hold $1,500 (roughly Rs. 1.23 lakh).

After a strong push above $20,000 (roughly Rs. 16.29 crore) on Tuesday, Bitcoin has failed to hold those levels and crashed once again. Along with Bitcoin, the broader crypto market is experiencing strong turbulence and volatility with trading volumes shooting up significantly.

He was found guilty of multiple counts of fraud in 2023 after the spectacular crash of his cryptocurrency exchange FTX.

The Federal Reserve Bank of Chicago has blamed the downfalls of BlockFi, Celsius, FTX, Genesis (in partnership with Gemini), and Voyager Digital major reasons behind the ongoing banking crisis in the US. Several crypto firms laid off staff members while the others filed for bankruptcy last year, leading to the outflows of large crypto investments.

Montenegrin police on Friday formally charged Do Kwon, the cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion (nearly Rs. 3,29,500 crore) or more last year, for forging official documents after arresting him on Podgorica airport.

Bitcoin has recorded a 26 percent gain so far in January, as the world's most popular cryptocurrency makes a sharp recovery from the global crypto meltdown that began in October 2022. Amid a rise in the value of cryptocurrencies, Bonk, a memecoin launched at the end of December on the Solana blockchain, rocketed 5,000 percent by early January.

Despite the ongoing slump in the crypto market, industry analysts are optimistic that this downturn has filtered out shaky and evidently risky firms from the already volatile industry, Circle CSO Dante Disparte said in a recent post for the World Economic Forum (WEF).

Binance's $1 billion (roughly Rs. 8,275 crore) acquisition of bankrupt crypto lender Voyager Digital could be delayed or blocked by a US national security review, according to a Friday bankruptcy court filing. Binance is owned by Chinese-born and Singapore-based Changpeng Zhao and has no permanent headquarters.

The founder of the failed crypto exchange FTX has written to his former employees apologising for his role in its collapse and continuing to insist its downfall can be solely explained by a misplaced $8 billion (roughly Rs. 64,940 crore).

FTX's collapse has galvanised regulators globally who are set to target the crypto sector and 'conglomerate' platforms in 2023, according to IOSCO Chairperson Jean-Paul Servais. Crypto assets like Bitcoin have been around for years but regulators have resisted jumping in to write new rules, but the implosion at FTX, which left an estimated one mill...

The crash of FTX exchange has injected greater urgency into regulating the crypto sector and targeting such 'conglomerate' platforms will be the focus for 2023, the new chair of global securities watchdog IOSCO said in an interview.

CoinSwitch Kuber has claimed to have received a verification of its balance sheets from INMACS. The aim was to prove that the Indian crypto exchange holds sufficient reserves to match its customer investments. It is however, noteworthy, that the report confirms of CoinSwitch’s fund sufficiency as of November 4, 2022, that is over two weeks ago. I...

HSBC, Mastercard and Wells Fargo, along with other banks, have launched a digital dollar blockchain project named the ‘Regulated Liability Network (RLN)’. The launch of RLN is essentially a trial that will run for twelve weeks and singularly operate in co-relation with the US dollar. This result of this trial is expected to become an important ...

Curve payments company is looking to purchase over than 87,000 credit card customers from BlockFi crypto lender whose credit cards have been suspended this November. If Curve’s acquisition deal comes through, it will continue to allow users to earn crypto awards. The company has also said that the users will not be ported to yet another centrally...

Indian-origin Nishad Singh is under scrutiny for financial practices that caused the stunning collapse of FTX, one of the world's largest cryptocurrency exchanges, which is now staring at bankruptcy. He, along with 9 others, lived with FTX founder.

Major crypto tokens slipped on Friday on some profit booking after a strong rally in the last few days. Bitcoin was above the $20,000 (roughly Rs. 16.49 crore) level, whereas Ethereum managed to hold $1,500 (roughly Rs. 1.23 lakh).

After a strong push above $20,000 (roughly Rs. 16.29 crore) on Tuesday, Bitcoin has failed to hold those levels and crashed once again. Along with Bitcoin, the broader crypto market is experiencing strong turbulence and volatility with trading volumes shooting up significantly.