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Tag: cryptocurrencies

  • Coinbase Ex-Executive Convicted Of Insider Trading Is Crypto’s Latest Legal Hope

    Ishan Wahi, a former executive at Coinbase, pleaded guilty this year to giving trading tips to his brother and a college friend that generated nearly $1.5 million in illegal profits. As an Indian immigrant, he could serve more than three years in prison and be deported over time. But Mr. Wahi is still fighting the […]

  • Crypto faces legal reckoning as SEC prepares action against Coinbase

    The SEC has informed Coinbase that it plans to sue the company for allegedly violating a series of investor protection laws, the company said this week. An eventual SEC lawsuit against the largest US crypto exchange could help determine the future shape of exchanging dollars for digital tokens such as bitcoin, ether or polkadot. It […]

  • Coinbase’s CEO takes to Twitter to highlight work with SEC before the regulatory warning is issued

    Published: March 23, 2023 at 6:22 PM ET Coinbase COIN CEO Brian Armstrong and others on Coinbase’s team shared their thoughts on the U.S. Securities and Exchange Commission’s Wells Notice a day earlier, in a Twitter space hosted on Coinbase’s account Thursday night. “We actually didn’t think this was unexpected,” said Armstrong, adding that Coinbase […]

  • Crypto will be ‘over’ in the US if Coinbase loses battle with SEC. This is why

    Hello! Welcome back to Distributed Ledger. This is Frances Yue, crypto reporter at MarketWatch. Crypto exchange Coinbase MINT said Wednesday it received a notice from Wells from the Securities and Exchange Commission that could lead to formal charges. The SEC’s Wells notice covered an unspecified portion of the exchange’s publicly traded digital assets, the staking […]

  • What happened to Silvergate Capital? And why does it matter?

    Silvergate capital AND served as one of the most important banks for the crypto industry before it collapsed earlier this week. The news came just a week after the company delayed its annual report to the U.S. Securities and Exchange Commission, causing Silvergate Capital’s shares to collapse. Here’s a rundown of the timeline of what […]

  • Bitcoin Tanks as Silicon Valley Bank Collapse Fuels Contagion Fears

    Published: March 10, 2023 at 1:34 PM ET Bitcoin saw its losses widen on Friday, dropping below $20,000 for the first time since January as investors worry about the spread of contagion from Silicon Valley Bank, which was shut down by regulators and acquired by the Federal Deposit Insurance Corp., days after the crypto-friendly Silvergate […]

  • How FTX’s Nishad Singh, Once an Honors Student, Turned to Cryptocrime

    Nishad Singh followed Sam Bankman-Fried into the high-stakes world of cryptocurrency trading. Now he could help put the former FTX executive in jail. Mr Singh, the 27-year-old former technical director at FTX, this week pleaded guilty to six felonies, including wire fraud. He agreed to cooperate with the government’s investigation into the collapse of FTX. […]

  • US regulators warn banks of heightened liquidity risks in crypto-related deposits

    WASHINGTON — A trio of regulators, including the Federal Reserve, warned banks to be aware of liquidity risks associated with cryptocurrencies, the latest move by US officials to limit the economy’s vulnerability to the tumultuous market. The Fed, Office of the Comptroller of the Currency and Federal Deposit Insurance Corp. said in a joint statement […]

  • Sam Bankman-Fried faces more criminal charges from federal prosecutors

    Federal prosecutors charged Sam Bankman-Fried with several other financial crimes and offered extensive new details about the FTX founder’s alleged behavior before the collapse of his cryptocurrency exchange. A new indictment unsealed Thursday charges 30-year-old Mr. Bankman-Fried with four more criminal charges, in addition to eight prosecutors who filed charges they filed in December, weeks […]

  • Crypto Giant Binance expects to pay fines to solve US investigations

    Binance, the world’s largest cryptocurrency exchange, expects to pay fines to settle existing U.S. regulatory and law enforcement investigations of its company, the company’s chief strategy officer said in an interview. Binance grew rapidly and started out as a company driven by software engineers unfamiliar with laws and regulations written to address the risk of […]