(Bloomberg) — Federal Reserve Bank of Minneapolis President Neel Kashkari said Friday that the whole idea of cryptocurrency is “nonsense” after the implosion of FTX Group revealed the industry’s shortcomings. A CFTC commissioner has urged … Read more
(Bloomberg) — Even before the collapse of the FTX exchange brought the crypto industry to heel, the boom in virtual-currency exchange-traded products was deflating. Launches worldwide for ETPs focused on digital assets have dwindled to … Read more
The club of cryptocurrency kings has turned against its unofficial former president Sam Bankman-Fried following his downfall. How fast things go in the world of crypto intrigue. Two weeks ago, Sam Bankman-Fried, the founder of … Read more
(Bloomberg) — Problems are multiplying for the world’s biggest crypto fund as chaos engulfs the industry in the wake of exchange FTX’s shock bankruptcy filing. The $11.4 billion Grayscale Bitcoin Trust (ticker GBTC) has plunged … Read more
A year ago this week, investors were describing bitcoin as the future of money and ethereum as the world’s most important developer tool. Non-fungible tokens were exploding, Coinbase was trading at a record and the NBA’s Miami Heat was … Read more
Cryptocurrencies resumed their sell-off on Friday morning as FTX announced it has filed for Chapter 11 bankruptcy in the U.S. Bitcoin fell 6% to $16,576.50, while ether lost 7% to $1,215.67, according to Coin Metrics. … Read more
The boy wonder of cryptocurrencies watched as his empire vaporized nearly overnight, leaving depositors scrambling and investigators taking a look. It wasn’t long ago that Sam Bankman-Fried was a king of the crypto world. Just … Read more
FTT, the native token of crypto exchange FTX, surged 7% after a report that payment giant Visa (V) has partnered with the exchange to rollout crypto debit cards. The partnership will see the exchange release … Read more
FTX US has won the bid for Voyager Digital’s assets for about $1.4 billion, more than two months since the crypto broker filed for bankruptcy restructuring and after several attempts by FTX to buy or … Read more
After a weekend of carnage and premature obituaries, crypto markets are rising phoenix-like (for now), helped by news that crypto exchange FTX has bailed out BlockFi. BlockFi CEO Zac Prince took to Twitter to explain … Read more