Category Crypto Page 6 of 7
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SBF Sentenced to 25 Years for FTX Fraud
In a dramatic fall from grace, Sam Bankman-Fried, the former billionaire crypto prodigy, has been sentenced to 25 years in federal prison for his role in the spectacular collapse of the FTX exchange. The sentencing by Judge Lewis Kaplan of the Southern District of New York marks a sobering end to Bankman-Fried’s meteoric rise and serves as a cautionary tale for the largely unregulated cryptocurrency industry.
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Jack Dorsey's Involvement in Crypto Mining
Bitcoin enthusiasts and crypto mining enthusiasts alike have reason to be excited about Jack Dorsey’s progress into becoming a Bitcoin believer over the past few years. Back in November, Mummolin, Inc, had successfully completed a $6.2 million seed funding round, led by none other than the co-founder of Twitter and CEO of Block, Inc., Jack Dorsey.
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Wyoming Blazes a Trail for DAO Legalization with Groundbreaking Crypto Law
In a landmark move that could reshape the crypto landscape, Wyoming has taken a bold step towards embracing decentralized autonomous organizations (DAOs) by enacting a new law that recognizes these unique entities as legal structures. The Decentralized Unincorporated Nonprofit Association Act, signed into law by Republican Governor Mark Gordon, establishes a comprehensive framework for DAOs to operate within the state’s legal boundaries.
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Bitfarms Drives Towards Aggressive 2024 Growth Powered by Paraguay Hydro
Bitfarms Ltd., a global vertically integrated Bitcoin mining company, recently reported strong Q4 2023 results that demonstrate its positioning for major expansion in 2024 powered by low-cost hydroelectric energy in Paraguay.
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Mark Karpeles Plots His Comeback With a New Business
A decade after the infamous Mt. Gox hack that led to the loss of 850,000 bitcoins, French entrepreneur Mark Karpeles is preparing for a comeback. As the former CEO of Mt. Gox, once the world’s largest bitcoin exchange, Karpeles was a pioneering yet controversial figure in the early days of cryptocurrency.
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Alameda Cashes Out, Lawsuit Dropped as Grayscale Opens Floodgates
With Grayscale’s Bitcoin Trust now freely allowing redemptions, the collapsed trading firm Alameda Research has swiftly dropped its lawsuit seeking to unlock its trapped investments in the fund. The move appears aimed at swiftly freeing up Alameda’s shares to sell off amidst a rush of withdrawals.
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Figure Aims to Issue First SEC-Approved Interest Stablecoin
Blockchain lending startup Figure Technologies is pursuing a novel path to launch the first SEC-regulated, interest-bearing stablecoin in the US. The move could pave the way for a new class of stablecoins with federal oversight if the issuance is approved.
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Ripple Goes on $285M Share Buyback Spree to Give Investors Liquidity
Ripple Labs, the company behind the XRP cryptocurrency, is launching a massive $285 million share buyback program to provide liquidity for early investors and employees. This tender offer would value Ripple at $11.3 billion - allowing shareholders to sell up to 6% of their stake.
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Circle's IPO Filing Adds Momentum to Crypto's Mainstream Push
Digital payments company Circle filed confidential IPO paperwork this week, the latest crypto-adjacent name exploring the public markets. After aborted SPAC deals last year, Circle seems ready to showcase the crypto economy’s investment potential to public investors.
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Floodgates Open as US Approves First Spot Bitcoin ETFs for 11 Issuers
The U.S. Securities and Exchange Commission (SEC) has approved the first applications for spot bitcoin exchange-traded funds (ETFs) from 11 different issuers after denying similar proposals for over 10 years.