FTX: Now UK investors are caught up in collapse of crypto trading platform January 11, 2023 Thirteen investors caught up in the collapse of cryptocurrency trading platform FTX have made fraud reports to UK police. FTX filed for bankruptcy on November 11 after it was alleged that then-chief executive Sam Bankman-Fried, 30, had illegally diverted massive sums of customer money from the company to a second firm that he owned, Alameda [...]
City minister says UK crypto regulations unlikely to be ready in 2023 January 10, 2023 City minister Andrew Griffith said regulations for digital currencies are unlikely to be ready in 2023, as he reaffirmed the government’s aim to be “the home of well-regulated [and] technologically-advanced financial systems”. In a wide-ranging Treasury committee hearing today, Griffith was quizzed by MPs on the risks facing the crypto industry and the potential for [...]
Aggressive institutional investors pushing into digital assets set to replace retail players January 10, 2023 Institutional investors are set to replace retail investors as the major holders of digital assets in 2023, according to new research shared with City A.M. today. More than 7 out of 10 of professional investors believe institutions will hold 60 per cent of digital assets within seven years, reversing the current status where institutions hold [...]
Bitcoin millionaires ‘drop like flies’ as FTX fallout shakes crypto market January 9, 2023 The number of bitcoin millionaires has plunged and scammers have filled their boots in the past year as the market is gripped by a ‘crypto winter’, brought on by soaring inflation and a string of high profile bankruptcies.
Crypto horse bolted well before US regulators’ warning shot, analysts say January 4, 2023 Crypto analysts warned that US regulators may be trying to “shut the stable door after the horse has bolted” today after the US central bank and financial watchdogs sounded the alarm over the risks that cryptocurrencies could pose to mainstream lenders. The Federal Reserve, alongside the Federal Deposit Insurance Corporation and the Office of the [...]
Narrow Escape: Sam Bankman-Fried released on $250m bail December 23, 2022 Disgraced FTX co-founder Sam Bankman-Fried avoided prison on Thursday after posting a $250m recognised bond before awaiting trial for charges of fraud and money laundering. The US attorney’s office for the Southern District of New York has charged Bankman-Fried with eight criminal counts, including fraud and money-laundering offences. The previously heralded crypto hero reportedly used [...]
Crypto in 2022: It wasn’t all bad December 22, 2022 This year was turbulent, even by crypto standards. If the past twelve months have taught us anything it’s that crypto is still far from a mature asset class and time may be running out for the industry to prove itself as a functional and beneficial cog in our financial system. There are a number of [...]
Sam Bankman-Fried extradited to the US December 21, 2022 Sam Bankman-Fried will be extradited to the US to face criminal charges for the demise of cryptocurrency exchange FTX after a judge in the Bahamas approved his transfer. In a hearing on Wednesday morning, Bankman-Fried’s legal team told the court that the former crypto executive agreed to extradition to the US, waiving his right to [...]
FTX founder Sam Bankman-Fried agrees to US extradition in major U-turn December 20, 2022 The disgraced founder of FTX, Sam Bankman-Fried, has agreed to be extradited to the US from Bahamas where he faces a slew of fraud and conspiracy charges from federal prosecutors.
Crypto exclusive: Nexo users do not have ‘unfettered’ right to withdraw holdings, exchange says December 19, 2022 Crypto exchange Nexo has said its customers do not have the “unfettered” right to withdraw their cryptocurrencies from its platform, as it seeks to defend itself from a High Court lawsuit. Instead, Nexo said its customers only have the right to “request” withdrawals, as the exchange said it retains the right to reject any customer [...]