‘Grow up,’ ex-Celsius directors warn crypto as BlockFi joins bankruptcy club

Two former directors of the collapsed crypto lender Celsius Network have a warning for digital assets firms wishing to avoid a similar fate: “Grow the f*** up”. Matthew De La Fuente, former head of business operations, and Rohit Sabhlok, former director overseeing trading infrastructure, joined Celsius in February and September 2021 respectively. It was early … Read more

Binance launched a proof-of-reserves system for bitcoin holdings. What are proof of reserves?

Crypto exchange Binance launched a new website that explains its proof of reserves system. But why did the company do it and what does it mean? Here’s a breakdown of why the term has been making its rounds lately. What happened? The popular crypto exchange called FTX collapsed two weeks ago due to a liquidity … Read more

Opinion: Crypto-millionaires? Hardly. A quarter of crypto traders ‘earn less than $10,000 a year’

It’s going to be some time before we really know how badly the cryptocurrency bubble and subsequent collapse has hit the retirement savings of people who can’t really afford it. But we are already getting some idea of the damage. And it’s worse than you might have imagined. A massive analysis of more than 1 … Read more

Binance launched a proof-of-reserves system for bitcoin holdings. What are proof of reserves?

Crypto exchange Binance launched a new website that explains its proof of reserves system. But why did the company do it and what does it mean? Here’s a breakdown of why the term has been making its rounds lately. What happened? The popular crypto exchange called FTX collapsed two weeks ago due to a liquidity … Read more

Binance launched a proof-of-reserves system for bitcoin holdings? What are proof of reserves?

Crypto exchange Binance launched a new website that explains its proof of reserves system. But why did the company do it and what does it mean? Here’s a breakdown of why the term has been making its rounds lately. What happened? The popular crypto exchange called FTX collapsed two weeks ago due to a liquidity … Read more

Opinion: Will crypto survive? Sadly, the FTX debacle is unlikely to be the last

SAN FRANCISCO — The epic collapse of wunderkind Sam Bankman-Fried’s $32 billion crypto empire, FTX, looks set to go down as one of the great financial debacles of all time. With a storyline full of celebrities, politicians, sex, and drugs, the future looks bright for producers of feature films and documentaries. But, to paraphrase Mark Twain, rumors of … Read more

Central banks must buy bitcoin to hedge against sanctions: Harvard Ph.D. candidate

Published: Nov. 23, 2022 at 3:31 p.m. ET A research paper published at Harvard University is advocating that central banks should buy bitcoin BTCUSD as a hedge against sanctions by other countries. The paper, titled “Hedging Sanctions Risk: Cryptocurrency in Central Bank Reserves,” was authored by Ph.D. candidate Matthew Ferranti from Harvard’s economics department, and … Read more

Bitcoin in your 401(k)? Senators pressure Fidelity to reconsider crypto

Democratic Sens. Dick Durbin, Elizabeth Warren and Tina Smith on Monday intensified the pressure on Fidelity Investments to reconsider its decision to allow employers to offer bitcoin exposure to 401(k) plan participants in the wake of crypto exchange FTX filing for bankruptcy earlier this month. The senators first wrote a letter to Fidelity in July. … Read more

Bitcoin tumbles to fresh lows as Genesis denies imminent bankruptcy

Bitcoin briefly tumbled to its lowest level in two years on Monday after Bloomberg News reported that Genesis, the digital-asset brokerage and lender, has told investors it could be forced to file for bankruptcy if its current fundraising efforts are unsuccessful. The price of bitcoin BTCUSD, +1.30% tumbled to $15,615 on Tuesday after Bloomberg published … Read more

National security secrets raised in case against crypto couple charged in heist

The spectacular case against a hipster New York couple who were allegedly caught with $3.6 billion in stolen bitcoin has taken a more mysterious turn. A court filing made by U.S. prosecutors on Wednesday in the case against Ilya Lichtenstein and his eccentric rapper wife Heather Morgan revealed that the investigation now involves “classified national … Read more