Kraken

The Financial Intelligence Unit of India (FIU IND) has taken a significant regulatory step by issuing compliance show cause notices to nine major offshore Virtual Digital Assets Service Providers (VDA SPs). These notices are in response to the entities' alleged failure to comply with India'...

In May 2022, the stablecoin TerraClassicUSD (USTC) plummeted over 99.9% because of a liquidity run after the token slightly lost its $1 peg.  The token used an algorithm to continuously buy and sell USTC as well as its native token TerraLuna (LUNA). But the algorithm was not prepared to handle...

Despite recent hype surrounding Bitcoin and spot exchange-traded funds (ETFs_, JPMorgan believes that Ethereum will outperform Bitcoin in 2024.  In a Dec. 13 report, JPMorgan analysts wrote, "We believe that next year Ethereum will reassert itself and recapture market share within the crypto...

The Securities and Exchange Commission (SEC) met with BlackRock Inc. on Monday to discuss the proposed rule to allow a spot Bitcoin exchange-traded fund (ETF). The SEC's trading and markets division also met with Grayscale Investments, the leading crypto asset manager, regarding its application....

Over the past month, FTX Token (FTT) has soared over 230% to $4.30.  On the surface, the price increase may not make sense. Former FTX CEO Sam Bankman-Fried was arrested in early 2023 on a slew of fraud and money laundering charges. FTX became insolvent and closed its doors. With this in mind...

If you were involved in crypto in 2022, you likely saw a handful of FTX Trading Ltd. branding and advertising. From patches on Major League Baseball (MLB) umpires to deals with global superstars such as NFL quarterback Tom Brady and pitcher Shohei Ohtani, FTX's logo was everywhere.  The...

In early November, Binance Holdings Ltd. was hit with $4.3 billion in penalties and forfeitures by the U.S. Justice Department. The fine was a result of several wrongdoings by the company, ranging from money laundering to aiding criminals and terrorist organizations.  Former Binance CEO...

Over the past six months, talks of spot Bitcoin exchange-traded funds (ETFs) have become increasingly prominent. With over a dozen applications filed from asset management companies such as BlackRock Inc. and Grayscale, the proposed ETFs are inching closer and closer to reality.  With talks...

The late Charlie Munger, esteemed vice chairman of Berkshire Hathaway Inc., had a history of expressing strong opinions against cryptocurrencies, particularly Bitcoin. His views were notable for their intensity and the sharpness with which he delivered them. At Berkshire Hathaway's 2018 annual...

Mark Cuban loves cryptocurrency so much that he continued to advocate for it as an alternative investment after someone hacked his digital wallet for nearly $1 million. The multibillionaire owner of the NBA's Dallas Mavericks is famous for his "no risk-it, no biscuit" business philosophy, and his...

Ark Investment Management, led by well-known investor Cathie Wood, sold more than 700,000 shares of Grayscale Bitcoin Trust (GBTC) last month. The holdings equate to more than $21 million and were offloaded under Ark's Next Generation Internet exchange-traded fund (ETF) (ARKW). This is a...

FTX Trading Ltd. and Alameda Research seem to be unable to stay out of the headlines. After their collapse in late 2022, the firms have experienced an almost unbelievable roller coaster of events. Even more surprising is the fact that the firms continue to operate.  Despite the arrest and...

According to a report from OpenSecrets, as of the end of Q3, spending on lobbying by cryptocurrency companies reached $18.96 million, surpassing the $16.1 million spent in the same period last year. This trend indicates that the sector is on track to set a new record for lobbying expenditures in...

Former FTX Trading Ltd. CEO Sam Bankman-Fried (SBF) is using mackerel to participate in the jail economy, according to a Nov. 23 Wall Street Journal article. SBF also is giving tips on crypto to the other high-profile inmates he's housed with. SBF was arrested in early 2023 on money laundering and...

SoFi Technologies Inc. customers will have two options to choose from as the company plans to shut down its crypto services by Dec. 19.  The default option is to liquidate and close your account. Customers who select this option will have all of their crypto assets sold and transferred into...