Crypto exchange FTX has ‘a few billion’ to support industry, Bankman-Fried says

Crypto exchange FTX has 'a few billion' to support industry, Bankman-Fried says

Sam Bankman-Fried speaks onstage during the first annual Moonlight Gala benefitting CARE – Children With Special Needs at Casa Cipriani on June 23, 2022 in New York City. Craig Barrit | Getty Images Sam Bankman-Fried, head of one of the largest cryptocurrency exchanges, FTX, said he and his company still have a “few billion” on … Read more

Crypto firm Voyager Digital files for Chapter 11 bankruptcy protection

Crypto firm Voyager Digital files for Chapter 11 bankruptcy protection

Voyager said it has roughly $1.3 billion of crypto on its platform and holds over $350 million in cash on behalf of customers at New York’s Metropolitan Commercial Bank. Justin Sullivan | Getty Images Beleagued crypto brokerage Voyager Digital has filed for Chapter 11 bankruptcy protection, becoming the latest casualty of chaos in digital asset … Read more

Bitcoin (BTC) posts worst quarter in more than a decade: 5 reasons why

Bitcoin (BTC) posts worst quarter in more than a decade: 5 reasons why

1.Macroeconomic pressure During the quarter, the US Federal Reserve carried out two aggressive interest rate hikes to battle rampant inflation. That has sparked fears of a recession in the US and other countries. It has also hit stocks, in particular high-growth technology names. The tech-heavy Nasdaq Composite is down 22.4% for the second quarter, its … Read more

Coinbase seeks Europe licenses in bid to expand growth outside US

Coinbase seeks Europe licenses in bid to expand growth outside US

Coinbase reported a 27% decline in revenues in the first quarter as usage of the platform dipped. Chesnot | Getty Images Coinbase is seeking licenses with various countries in Europe as part of an aggressive expansion in the region. The exchange already has an active presence in the UK, Ireland and Germany, but wants to … Read more

Three Arrows Capital (3AC) faces deadline to repay loans or default

Three Arrows Capital (3AC) faces deadline to repay loans or default

Billions of dollars of value have been wiped off the cryptocurrency market in the last few weeks. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs. Yu Chun Christopher Wong | S3studio | Getty Images Three Arrows Capital, a crypto-focused hedge … Read more

Hackers steal $100 million in crypto from Harmony’s Horizon bridge

Hackers steal $100 million in crypto from Harmony's Horizon bridge

So-called blockchain bridges have become a prime target for hackers seeking to exploit vulnerabilities in the world of decentralized finance. Jakub Porzycki | NurPhoto | Getty Images Hackers have stolen $100 million in cryptocurrency from Horizon, a so-called blockchain bridge, in the latest major heist in the world of decentralized finance. Details of the attack … Read more

Sam Bankman-Fried rescues crypto lenders BlockFi, Voyager

Sam Bankman-Fried rescues crypto lenders BlockFi, Voyager

With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help. Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out two firms in as many weeks: BlockFi, a quasi-bank, and Voyager Digital, a digital asset brokerage. FTX, Bankman-Fried’s crypto exchange, agreed Tuesday to … Read more

Australia RBA meeting minutes, oil and currencies

Australia RBA meeting minutes, oil and currencies

SINGAPORE — Asia-Pacific markets were mostly buoyant on Tuesday while bitcoin continued to rise after a recent rebound. Meanwhile, Australia’s central bank says inflation will peak by the end of the year. Japanese stocks led gains, with the Nikkei 225 trading 1.84% higher to close at 26,246.31, while the Topix also rose by 2.05% to … Read more

Bitcoin (BTC) rebounds but struggles to hold above $20,000

Bitcoin (BTC) rebounds but struggles to hold above $20,000

Bitcoin continues to trade around the $20,000 mark, keeping investors on edge about where the price is going next. Nurphoto | Getty Images Bitcoin jumped 10% on Monday after a sharp sell-off over the weekend but continues to teeter around the $20,000 mark, keeping investors on edge. The world’s largest cryptocurrency was trading at $20,648.50 … Read more

What is staked ether (stETH) and why is it causing havoc in crypto?

What is staked ether (stETH) and why is it causing havoc in crypto?

Ether is the second-largest cryptocurrency in the world by market value. Jaap Arriens | NurPhoto via Getty Images Another controversial cryptocurrency is causing havoc in the digital asset market — and this time, it’s not a stablecoin. Staked ether, or stETH, is a token that’s supposed to be worth the same as ether. But for … Read more