Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "Ari Levy Mackenzie Sigalos"


6 mentions found


Coinbase has the added benefit of having survived the so-called crypto winter, while so many of its rivals disappeared or downsized. Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. With assets of more than $65 billion on the platform, Binance remains the world's largest crypto exchange globally. watch nowBoth Coinbase and Binance still face legal battles with the Securities and Exchange Commission, which was noticeably absent from the Binance settlement. Regulatory approval would open up many more avenues for people to buy bitcoin.
Persons: Brian Armstrong, Carlos Jasso, Coinbase, Sam Bankman, FTX, Changpeng Zhao, Zhao Changpeng, Binance, Zhao, CoinGecko, Mizuho, it's, CNBC's Joumanna, Armstrong, Bittrex, JPMorgan Chase, Franklin Templeton Organizations: U.S . Securities, Exchange Commission, Bloomberg, Getty, Tech, Reuters, Justice Department, CNBC, Mizuho, Securities and Exchange Commission, U.S, SEC, JPMorgan, WisdomTree Locations: U.S, Binance, Needham, BlackRock, WisdomTree
SEC Chairman Gary Gensler has a message for Coinbase and other crypto exchanges: The rules are clear, and they must be obeyed. In a video posted on Twitter on Thursday, Gensler said that crypto exchanges must treat cryptocurrencies like securities and stop acting as if the regulations are ambiguous. "If you're a securities exchange, clearinghouse, broker, or dealer, you must come into compliance, register with us, and deal with conflicts of interest and disclose important information. Since January, the SEC has taken action against crypto exchanges Bittrex & Gemini, crypto lender Genesis, and a number of individual actors accused of manipulating crypto assets, including crypto entrepreneur Justin Sun and disgraced Terraform Labs founder Do Kwon. "Intermediaries for investment contracts, whether they're exchanges, brokers, dealers, clearinghouses, they need to comply with the securities laws and register with the Securities and Exchange Commission."
Barry Silbert, the founder of crypto conglomerate Digital Currency Group, has joined a growing list of industry leaders in trying to settle investors' nerves after the sudden collapse of FTX. Since FTX's rapid winddown two weeks ago, investors have worried about a crypto contagion affecting every corner of the industry. "We have weathered previous crypto winters," Silbert wrote, adding that "while this one may feel more severe, collectively we will come out of it stronger." They've each expressed shock at FTX's apparent deceit of investors and customers and emphasized that client assets are secure. It also absorbed the $1.1 billion debt that the bankrupt crypto hedge fund Three Arrows Capital owed Genesis.
It's a stark reversal for five-year-old Multicoin, which announced a $430 million fund in July, its third and largest to date. "We put entirely too much trust in our relationship with FTX," Multicoin managing partners Kyle Samani and Tushar Jain wrote in the 3,400-plus word letter, which CNBC obtained. Multicoin said it doesn't expect the crypto market to turn anytime soon. "Many trading firms will be wiped out and shut down, which will put pressure on liquidity and volume throughout the crypto ecosystem. The crypto market has experienced multiple pullbacks in the last few years and has bounced back.
related investing news Cathie Wood's ARK Invest keeps buying more crypto assets despite FTX bankruptcy Crypto.com is smaller than FTX but still ranks among the top 15 global exchanges, according to CoinGecko. Kris Marszalek, CEO of Crypto.com, speaking at a 2018 Bloomberg event in Hong Kong, China. Marszalek has spent the early part of the week trying to reassure users and regulators that the business is fine. FTX CEO Sam Bankman-Fried said his company's assets were "fine" two days before he was desperate for a rescue because of a liquidity crunch. Marszalek said on Monday that this was just a reflection of the assets Crypto.com customers were buying.
Jordan Vonderhaar | Bloomberg | Getty Imageswatch nowSaylor was speaking on CNBC's "Squawk on the Street" as FTX's demise roiled the crypto market. Bitcoin tumbled 19% in December, as investors rotated into assets deemed safer in a tumultuous economy. David Marcus, former head of crypto at Facebook parent Meta , used a phrase that would soon enter the lexicon. "It's during crypto winters that the best entrepreneurs build the better companies," Marcus wrote in a Jan. 24 tweet. Ryan Gilbert, founder of fintech venture firm Launchpad Capital, said the crypto world is facing a crisis of confidence after the FTX implosion.
Total: 6