Page 34 - Cryptocurrency

US regulators issue their first-ever joint warning on cryptocurrency risks

Banks were also cautioned over the "contagion risk" from the sector

FTX founder Sam Bankman-Fried pleads not guilty to cheating charges

FTX founder Sam Bankman-Fried pleaded not guilty in Manhattan federal court on Tuesday to charges that he cheated investors and looted customer deposits on his cryptocurrency trading platform. Bankman-Fried, 30, is accused of illegally diverting massive sums of customer money from FTX to make lavish real estate purchases, donate money to politicians and make risky trades at Alameda Research, his cryptocurrency hedge fund trading firm. Bankman-Fried's attorney, Mark Cohen, announced his client's plea, saying: He pleads not guilty to all counts." Wearing a backpack, Bankman-Fried marched through a crush of cameras as he entered the courthouse on a rainy day to make his first appearance before Judge Lewis A. Kaplan. Besides taking a plea during the arraignment, Kaplan was expected to discuss with lawyers a schedule for proceeding toward a trial. Prior to his appearance, his lawyers sent a letter to the judge, saying Bankman-Fried's parents in recent weeks have become the target of ...

FTX founder Sam Bankman-Fried faces arraignment in Manhattan federal court

FTX founder Sam Bankman-Fried will be arraigned in a Manhattan federal court on Tuesday on charges that he cheated investors and looted customer deposits on his crypto-currency trading platform. Bankman-Fried, 30, was accused of illegally diverting massive sums of customer money from FTX to make lavish real estate purchases, donate money to politicians and make risky trades at Alameda Research, his cryptocurrency hedge fund trading firm. He is expected to plead not guilty before Judge Lewis A. Kaplan before the judge and lawyers discuss a schedule for proceeding toward a trial. Carolyn Ellison, 28, who ran Alameda, and Gary Wang, 29, who co-founded FTX, have pleaded guilty to fraud charges and are cooperating with prosecutors in a bid for leniency. Both are free on bail. Their pleas were kept secret until Bankman-Fried was in the air after his extradition from the Bahamas, where FTX is based, due to fears that he might flee. Bankman-Fried, 30, was released from custody on a USD 25

Are we ready for the political compromises a digital currency may warrant?

It took 300 years for trust in currency to become total and unquestioned, and now digital currency brings with it some new challenges for it

International regulation needed for crypto activities, says Reserve Bank

Noting that there is turmoil in crypto assets market, the Reserve Bank of India (RBI) has suggested a framework for international regulation of such crypto activities

War in Ukraine to tech layoffs: A look at 10 events that defined 2022

2022 will be remembered for a plethora of things but these 10 events will perhaps be on top of the list

India likely to ban unbacked crypto assets, stablecoins and DeFi, says RBI

Under G20 presidency, one of priorities is to develop framework for global regulation, including possibility of prohibition of unbacked crypto, stablecoins and DeFi, Reserve Bank of India has stressed

Anonymous Twitter user leaks API keys of crypto trading service 3Commas

More than 10,000 of the keys were released by the leaker who the rest "will be published full [sic] randomly in the upcoming days", CoinDesk reported

'Important to arrive at a common international approach to crypto': RBI

Financial Stability Report: The FTX turmoil, RBI said, revealed that crypto is highly volatile, exhibits high correlations with equities and does not act as a hedge against inflation

Website Redesign, New Tokens, Pricing, and Merchant Model Updates for B2BinPay

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Indian crypto exchanges stay put in business after 'a year to forget'

Tax burden, regulatory uncertainty and the shock of FTX collapse pulled down domestic companies

Crypto Exchange Bitget records 200% growth in India since launch in 2022

/ -- Leading cryptocurrency exchange Bitget has recorded over 200% growth for digital assets' trading volumes in the India market since its launch in early May '22. With over 8 million users worldwide, Bitget has managed to capture a significant share of the South Asian market resulting in increased registrations from retail users. Bitget's performance has accelerated its positioning amongst other derivatives exchanges, ranking from top #20 to its current position #5 on Coingecko. It has captured over 500% growth ($600M to $5 Billion) in its trading volumes globally. Supporting the cause of social trading Bitget has onboarded professional Indian traders for copy-trading on the platform, trades can be 'copied' by new users entering the crypto space to gain better exposure. This feature has helped the organisation record one of the highest growth rates in 2022. "Bitget is a great platform for novice and professional users. Its tremendous growth and increased security has driven it to

Cryptocurrency in 2022: What it was, what it is, and what to expect in 2023

Cryptocurrency: Business Standard talked to various crypto firms in India about how 2023 will be for the industry. Here's what they said

Law on crypto only after international collaboration, risk evaluation: Govt

Policy related to crypto is with the FM and any legislation on it would be effective only through international collaboration after proper risk evaluation, the Parliament was told

Crypto wrap: Central banks' commentary on inflation keeping market weak

Cryptocurrency news: Both Bitcoin and Ethereum have been trading below crucial support levels

FTX founder Sam Bankman-Fried allowed $250 million bond, house arrest

The cryptocurrency entrepreneur Sam Bankman-Fried can post USD 250 million bond and live in his parents' home in California while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform, a judge said on Thursday. Assistant US Attorney Nicolas Roos said in US District Court in Manhattan that Bankman-Fried, 30, perpetrated a fraud of epic proportions. Roos proposed strict bail terms, including a USD 250 million bond and house arrest at his parents' home in Palo Alto, California. An important reason for allowing bail was that Bankman-Fried agreed to waive extradition, Roos said. Magistrate Judge Gabriel W. Gorenstein agreed to the bond and also approved the house arrest proposal. He also said Bankman-Fried would be required to get an electronic monitoring bracelet before leaving the Manhattan courthouse. Bankman-Fried wore a suit and tie in court and sat between his attorneys. Two US marshals sat behind him. Bankman-Fried, arrest

More crypto miners to fall after Core Scientific bankruptcy, say experts

Bitcoin halving among primary reasons that may lead to more firms shutting down

Associates of FTX founder Bankman-Fried plead guilty to criminal charges

Two top associates of Sam Bankman-Fried have pleaded guilty to criminal charges in the collapse of the cryptocurrency exchange FTX in cooperation deals, a federal prosecutor announced Wednesday in a stunning development that came as the digital coin entrepreneur was being flown in FBI custody to the US from the Bahamas. Carolyn Ellison, the 28-year-old former CEO of Alameda Research, a trading firm started by Bankman-Fried, and Gary Wang, the 29-year-old who co-founded FTX, pleaded guilty to charges related to their roles in the fraud that contributed to FTX's collapse, US Attorney Damian Williams said on Wednesday night in a video statement released on social media. They are both cooperating with the Southern District of New York, Williams said, adding that anyone else who participated in the fraud should also reach out to his office because our patience is not eternal. He promised that his office continued to work on the case around the clock, noting that he'd said in announcing .

Next financial crisis will come from crypto: RBI Guv Das at BFSI summit

Business Standard BFSI Insight Summit 2022: Das said that these currencies have "no underlying whatsoever" and pose a threat to macroeconomic stability

Delhi, Jaipur recorded highest crypto adoption in 2022: CoinSwitch

CoinSwitch annual report: The highest holdings in the virtual currencies in India were in Bitcoin, and it was followed by Dogecoin and Ethereum