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

Biden regulators cheer on crypto crackdown

The Biden administration on Monday laid out its most comprehensive analysis of the risks posed by cryptocurrency to financial stability, urging regulators and Congress to continue to bring enforcement cases against unlawful practices and pass new legislation that more thoroughly regulates the sector. The Financial Stability Oversight Council, which comprises the heads of every major … Read more

Futures exchange CME considers brokerage, taking cue from crypto rival FTX

CME Group Inc. criticized crypto exchange FTX’s plan to cut out the middlemen in the futures markets. Now, the Chicago exchange giant is taking a step in the same direction. In August, CME CME, -0.86% submitted paperwork to register a futures commission merchant, or FCM—essentially, a brokerage that would allow investors to buy and sell futures on … Read more

Gulf countries want Netflix to remove content ‘contrary’ to Islamic values

DUBAI, United Arab Emirates — Gulf Arab states on Tuesday asked Netflix to remove “offensive content” on the streaming service, which appears to target programming featuring gay and lesbian people. A joint statement issued on behalf of the committee of the Gulf Cooperation Council made the request, saying the unspecified program was “contrary to the … Read more

Gulf countries want Netflix to remove content ‘contrary’ to Islamic values

DUBAI, United Arab Emirates — Gulf Arab states on Tuesday asked Netflix to remove “offensive content” on the streaming service, which appears to target programming featuring gay and lesbian people. A joint statement issued on behalf of the committee of the Gulf Cooperation Council made the request, saying the unspecified program was “contrary to the … Read more

Opinion: 3 reasons why crypto doesn’t belong in your retirement account — yet

Any individual who followed Matt Damon’s advice that “fortune favors the brave” during the Super Bowl and invested $1,000 in the crypto markets have seen staggering losses, with the value of those assets dropping more than 60 %.  This small slice of activity in the crypto markets demonstrates two major issues with this new asset … Read more

Regulators in New York eye further crypto guidance

The head of the New York State Department of Financial Services said she wants the regulator to continue to be a leader in cryptocurrencies, remaining upbeat on virtual assets despite the industry’s turmoil. The regulator has issued more cryptocurrency-related licenses so far in 2022 than it did in all of 2021, its superintendent, Adrienne Harris, said … Read more

‘There’s no safe haven anywhere’: Crypto swindles are rampant. Will the crypto crash make them worse?

It started a cryptocurrency investing opportunity that slid into George Kissi’s direct messages in late April. It’s ending with a bitcoin loss of almost $20,000 that the self-declared “risk taker” from Dublin, Ohio calls “a total scam.” “I don’t know why I fell for that, other than greed,” Kissi, 49, told MarketWatch. When you have … Read more

Crypto lobbyist donated £500k to Conservatives before UK’s ‘crypto hub’ move

The Conservative party received a £500,000 donation from a British crypto investor two months before the government pledged to make the UK “the very best place in the world” to build crypto businesses. Christopher Harborne, a Thailand-based businessman, made the payment on 9 February. The government two months later announced its intention to turn the … Read more

Binance resumes bitcoin withdrawals as crypto prices crater

The world’s largest cryptocurrency exchange, Binance, resumed withdrawals of bitcoin after it instituted a “temporary pause” Monday morning that latest several hours, the company said. Binance founder and CEO Changpeng Zao announced the pause on Twitter earlier in the day. “Withdrawals on the Bitcoin network have now resumed,” the company said in a statement on … Read more