Page 37 - Cryptocurrency

India saw third-highest crypto app downloads between 2015 and 2022: BIS

Experts attributed it to the bull run in the market, curiosity around the crypto technology and access to smartphones and better internet facilities in India

FTX fallout: Crypto markets on the back foot as investors pull funds

Investors continue to pull funds from digital-asset exchanges despite the latter's efforts to reassure markets about their stability.

With crypto in retreat, central banks take a quantum leap to cryptography

What will thrive even after this year's meltdown, however, is cryptographic money.

Best of BS Opinion: Protecting data privacy, the FTX fraud, and more

Here is the best of Business Standard's opinion pieces for today

The FTX fraud and first principles

FTX, which was valued at $32 billion a few months ago and funded by the finest names of the global financial markets, suddenly declared bankruptcy on November 11

To catch a crypto-criminal

Greenberg deftly assembles a rogues' gallery of characters who fell prey to this false sense of invulnerability: drug marketers, thick-necked federal agents, globe-trotting libertarians

Crypto exchange FTX's bankruptcy filing reveals staggering mismanagement

FTX is a company that was valued at $32 billion just a couple of months ago

Crypto exchange doesn't see viable business in India, says Binance chief

"To be honest, I don't think India is a very crypto-friendly environment," Zhao was quoted as saying

Crypto wrap: Bitcoin prices may fall before bouncing back, say experts

The cryptocurrency market cap remained below $850 billion in the last seven days, and on Friday, the market cap was $835 billion

Use of cryptocurrency, virtual assets new ways to radicalise youth: Shah

Home Minister Amit Shah highlighted the use of 'darknet' by terrorists and said there is a need to find solutions to the darknet patterns

New FTX CEO blasts handling of financial info as 'total failure'

Says he's never seen such a "complete failure" of corporate control

New CEO of FTX John Ray III blasts its handling of financial information

The new CEO of the collapse cryptocurrency trading firm FTX, who oversaw Enron's bankruptcy, said he has never seen such a complete failure of corporate control. John Ray III, in a filing with the U.S. bankruptcy court for the district of Delaware, said there was a complete absence of trustworthy financial information." Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here," Ray said. From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented." Ray was named CEO of FTX less than a week ago when the company filed for bankruptcy protection and its CEO and founder Sam Bankman-Fried resigned.

Which investors will lose the most money because of FTX's implosion?

Out of all the investors, at least two major shareholders, Sequoia and Paradigm, have decided to mark their investments down to zero

Indian investors unsure after international crypto exchanges collapse

The collapse began earlier this month when Binance CEO Changpeng Zhao announced his exchange was liquidating all FTX tokens

Top US Fed regulator urges Congress to impose regulations on cryptocurrency

The top US banking regulator at the Federal Reserve is urging Congress to pass legislation that would impose regulation on crypto currencies in the wake of the swift collapse last week of FTX, a leading crypto exchange. Michael Barr, the Fed's vice chair for supervision, said in prepared testimony released Monday that "recent events in crypto ... have highlighted the risks to investors and consumers associated with new and novel asset classes and activities when not accompanied by strong guardrails." Barr, who took office in July, is scheduled to testify before Congress Tuesday for the first time as vice chair. He did not refer specifically to FTX in his written remarks. Yet his appearance comes after FTX, the third-largest crypto currency exchange, formerly led by Sam Bankman-Fried, filed for bankruptcy Friday. The fall of FTX has rippled throughout the crypto world, with lender BlockFi pausing customer withdrawals. Barr said "some financial innovations offer opportunities, but as

Is it the beginning of crypto's end?

FTX, the world's second biggest crypto exchange, has gone bankrupt. Bitcoin fell another 12% in the last five days, after shedding over 70% this past year. So is it the beginning of the end of crypto?

SoftBank writes off $100 mn investment in bankrupt crypto exchange FTX

Beleaguered Japanese investment firm SoftBank invested the money as part of its Vision Fund 2 in FTX

Best of BS Opinion: Crypto meltdown, forced transmission, and more

Here are the best of Business Standard's opinion pieces for today

Crypto meltdown

FTX underlines the risk of unregulated markets

Binance forming recovery fund to help projects in liquidity crisis

Binance CEO's announcement triggers rise in Bitcoin, Ether