DIRS.INFO The most relevant business & tech news

☆ Genesis and Gemini face civil suit alleging $1 billion fraud
▼ + stars: | 2023-10-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

The lawsuit accused the companies of lying to investors and covering up more than $1 billion in losses. According to the latest lawsuit, Gemini knew that Genesis’ loans were risky and, at one point, “highly concentrated” with Bankman-Fried’s crypto trading house Alameda Research. “Gemini hid the risks of investing with Genesis, and Genesis lied to the public about its losses,” James said. Gemini’s owners, the Winklevoss twins, have said Genesis owed more than $900 million to some 340,000 customers using the Earn program. The AG’s lawsuit follows another civil action brought by the Securities and Exchange Commission, which in January sued Genesis and Gemini for offering unregistered securities through the Earn product.

Persons: Sam Bankman, —, Cameron, Tyler Winklevoss, Letitia James, James, James ’, Crypto, Cameron Winklevoss, Christopher Goodney, Gemini, Fried, “ Gemini, Genesis, ” James, Soichiro “ Michael ” Moro, Barry Silbert, DCG didn’t Organizations: CNN, New, — Gemini Trust, Genesis Global Capital, Digital Currency Group, Yorkers, Gemini Trust, Bloomberg, Getty, Alameda Research, Securities and Exchange Commission, Gemini, Genesis Locations: New York

☆ Coinbase picks Ireland as its main EU regulatory hub as U.S. authorities go on the offensive
▼ + stars: | 2023-10-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

If and when it is approved, Coinbase will have a universal "MiCA license" in Ireland, which it can then use to "passport" its services into Germany, France, Italy, the Netherlands and other EU countries. The rules will allow crypto companies to use one license in one country to operate across all 27 EU member states. Currently, Coinbase has an electronic money institution license and virtual asset service provider registration in Ireland; a crypto license in Germany; and national registrations in other EU member states including Italy, the Netherlands and Spain. Paul Grewal, Coinbase's chief legal officer, said that progress has been "slower" than he'd like when it comes to achieving crypto regulation in the U.S. "We're now seeing in court cases real questions being asked about the U.S. approach to crypto regulation and in particular securities regulation," he said.

Persons: Coinbase, Nana Murugesan, we've, Murugesan, Paul Grewal, isn't, Grewal, CNBC's Arjun Kharpal — Organizations: Getty, European Union, CNBC, Central Bank of Ireland, EU, U.S . Securities, Exchange Commission, SEC Locations: Crypto, Dublin, Ireland, Germany, France, Italy, Netherlands, Spain, U.S, San Francisco, United States, Central, Northern, Western Europe, North America, Europe, headcount

Israeli police said in an Oct. 10 statement that it had frozen several crypto accounts that were used to solicit donations for Hamas. Reuters reported in May that Israel had seized around 190 crypto accounts at crypto exchange Binance since 2021, including dozens it said were owned by Palestinian firms connected to Hamas. Hamas uses a global financing network to funnel support from charities and friendly nations, including by using cryptocurrencies, Reuters reported on Monday. The lawmakers requested that the Biden administration provide estimates on the value of crypto assets that remain in Hamas-controlled wallets, how much of Hamas’ operations are funded through crypto, and any information it has on the actors facilitating the sending of crypto to and from Hamas and other militant groups. Reporting by Hannah Lang in Washington; editing by Michelle Price and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Elizabeth Warren, Julia Nikhinson, Biden, Senators Elizabeth Warren, Roger Marshall, Sean Casten, Israel, Binance, Hannah Lang, Michelle Price, Bill Berkrot Organizations: Intelligence, U.S, Capitol, REUTERS, Hamas, U.S . Treasury Department, White, Senators, Reuters, TRM Labs, Thomson Locations: Washington , U.S, cryptocurrencies, Israel, Hamas, Washington

☆ Cryptoverse: Winter is coming as ether funds flounder in fall
▼ + stars: | 2023-10-17 | by ( Lisa Pauline Mattackal | ) www.reuters.com time to read: +4 min

"The timing of the futures ETFs could hardly be worse," said Vetle Lunde, senior analyst at K33 Research. Trading volumes for the ether futures ETFs remained below $2 million on their first day, according to K33 Research. Trading volumes of six exchange-traded funds tracking ether made a subdued start after launching on Oct. 2BACK TO BITCOIN? The newly launched ETFs tracking solely ether futures on the Chicago Mercantile Exchange, from ProShares (EETH.P), VanEck and Bitwise (AETH.P), have all dipped over 6% since launch. ProShares and Bitwise also launched funds tracking a mixture of bitcoin and ether futures, while Valkyrie Funds converted its pure-play bitcoin ETF into one with exposure to both bitcoin and ether (BTF.O).

Persons: Bitcoin, Dado, Vetle Lunde, murkier, Lunde, Ben McMillan, McMillan, Bitwise, IDX, Lisa Pauline Mattackal, Sumanta Sen, Tom Wilson, Pravin Organizations: REUTERS, K33 Research, IDX, Federal, Chicago Mercantile Exchange, Thomson, Reuters Locations: Ukraine, ProShares, Bengaluru

☆ Crypto giant Binance's US affiliate halts direct dollar withdrawals
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +1 min

Smartphone with displayed Binance logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 17 (Reuters) - The U.S. unit of cryptocurrency exchange Binance has halted withdrawal of dollars by its clients from the platform, its updated terms showed on Monday. In early June, Binance.US had halted dollar deposits, after the U.S. Securities and Exchange Commission (SEC) asked a court to freeze its assets. "In the event that customers wish to withdraw U.S. dollar funds from their account, they may do so by converting U.S. dollar funds to stablecoin or other digital assets, which can subsequently be withdrawn," the terms page said. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Binance, Binance.US, Coindesk, Changpeng Zhao, Jaiveer Singh, Shweta Agarwal Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, U.S, Thomson Locations: U.S, Bengaluru

☆ Crypto exchange Binance to stop accepting new users in UK
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 16 (Reuters) - Cryptocurrency exchange Binance said on Monday it will stop accepting new customers in the United Kingdom, in compliance with new regulation restricting promotions from overseas digital asset firms in the country. The Financial Conduct Authority's (FCA) new rules around cryptoasset promotions came into effect on Oct. 8. Last week, Britain's financial regulator said it was stopping peer-to-peer platform rebuildingsociety.com from approving financial promotions for Binance and other crypto asset firms, days after Binance announced it had partnered with the company. The FCA in its decision notice had said unregistered cryptoasset firms must not promote cryptoassets to UK consumers unless they have an authorized company to approve the promotions. "We are working closely with the FCA ... are looking to find another suitable FCA-authorised firm to approve our financial promotions as soon as possible," Binance said.

Persons: Dado Ruvic, Binance, Manya Saini, Devika Organizations: REUTERS, FCA, Thomson Locations: United Kingdom, Bengaluru

☆ Australia central bank sees possible cost savings in tokenisation
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +2 min

A worker is reflected in a wall of the Reserve Bank of Australia (RBA) head office in central Sydney, Australia, March 1, 2016. REUTERS/David Gray/File Photo Acquire Licensing RightsSYDNEY, Oct 16 (Reuters) - Australia's central bank on Monday said tokenised money could help save billions of dollars in costs in domestic financial markets, as it studies whether and how to launch a central bank digital currency. Australia's government on Monday separately outlined proposals for regulating crypto and digital assets that will make platforms subject to existing Australian financial services laws and require platform operators to obtain an Australian Financial Services Licence. The RBA has been studying whether to issue a central bank digital currency (CBDC) of its own and if it would help facilitate atomic settlement in tokenised asset markets. A wholesale CBDC could also act as a complement to new forms of privately issued digital money, including tokenised bank deposits and asset-backed stablecoins.

Persons: David Gray, Brad Jones, Jones, tokenisation, " Jones, Wayne Cole, Jamie Freed Organizations: Reserve Bank of Australia, REUTERS, Rights, Australian Financial, Treasury, Thomson Locations: Sydney, Australia

☆ Investors sit out ether futures ETFs as spot bitcoin fund hangs in limbo
▼ + stars: | 2023-10-12 | by ( Anna Gleason | ) www.cnbc.com time to read: +2 min

Investor appetite for ether futures exchange-traded funds has remained muted, despite a surge in new listings. Six new ether futures funds from Bitwise Asset Management, ProShares and VanEck launched on Oct. 2. "Frankly, bitcoin was doing fabulous at the time in 2021 and a lot of folks really didn't understand exactly what that fund was, being bitcoin futures. The six ether futures funds that debuted Oct. 2 attracted just $1.92 million collectively on their first day of trading, according to LSEG. "The absence of a spot bitcoin ETF isn't stopping people from buying crypto.

Persons: VanEck, Ric Edelman, Bob Pisani, Edelman, bitcoin, — Organizations: Bitwise Asset Management, Digital Assets, Financial Professionals, The Securities, Exchange Commission, SEC Locations: CNBC's

☆ Crypto token ether could rise five-fold by end-2026, StanChart says
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

Representation of Ethereum, with its native cryptocurrency ether, is seen in this illustration taken November 29, 2021. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Oct 11 (Reuters) - Ether, the second-largest cryptocurrency, may rise more than five-fold in value by the end of 2026, according to global bank Standard Chartered (STAN.L), its latest prediction of rocketing crypto prices. The price of crypto tokens are generally driven by the sentiment of investors. Ether has gained some 30% this year, though remains almost 70% below its all-time high of about $4,869, hit in Nov. 2021. StanChart said in July that top crypto token bitcoin could reach $50,000 this year and $120,000 by the end of 2024.

Persons: Dado Ruvic, Geoff Kendrick, Kendrick, StanChart, Bitcoin, Tom Wilson, Elizabeth Howcroft, Louise Heavens Organizations: REUTERS, Chartered, StanChart, FX Research, Reuters, Thomson Locations: West

☆ Sam Bankman-Fried’s former girlfriend set to testify for second day in fraud trial
▼ + stars: | 2023-10-11 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

On her first day of testimony, Ellison said Tuesday that she and Bankman-Fried, along with other associates, committed fraud and money laundering, and that he “set up the systems that allowed Alameda” to siphon money from FTX customer accounts. Prosecutors accuse Bankman-Fried, 31, of orchestrating a scheme to steal billions of dollars from customer accounts in FTX, his now-bankrupt crypto trading platform. If she were given a maximum sentence on the seven counts, she could face more than 100 years in prison. Her testimony is considered crucial to prosecutors’ case that SBF used both FTX and Alameda as his own personal piggy bank. If found guilty of all seven criminal counts and given the maximum sentence, Bankman-Fried faces the prospect of 110 years in prison.

Persons: Sam Bankman, Fried, Caroline Ellison, Ellison, Bankman, ” Ellison, “ Organizations: New, New York CNN, Alameda Research, Stanford Locations: New York, Alameda, FTX

☆ Ether could jump 400% in a few years before staging a longer-term rally to $35,000, Standard Chartered says
▼ + stars: | 2023-10-11 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Ether could hit $8,000 by end-2026, Standard Chartered analyst Geoff Kendrick wrote. Bitcoin's halving, regulatory developments, and the end to the bond market sell-off will also benefit ether. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . By the end of 2026, ether could reach $8,000, or a 400% jump from today's price of around $1,600.

Persons: Geoff Kendrick, —, Kendrick, Tokenization Organizations: Service, Chartered, BTC, ETH, FX Research, Digital Assets

☆ Sam Bankman-Fried trial: Caroline Ellison is getting ready to testify against FTX founder
▼ + stars: | 2023-10-10 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Her testimony is crucial to prosecutors’ case against Sam Bankman-Fried, whom they accuse of orchestrating a scheme to steal billions of dollars from customer accounts in FTX, his now-bankrupt crypto trading platform. Caroline Ellison, former CEO of Alameda Research. carolinecapital/XProsecutors’ case hinges on evidence that FTX and Alameda were deeply financially intertwined, despite repeated assurances from Bankman-Fried that they were separate companies, operating independently from one another. As Alameda was spiraling last fall, Ellison told her employees that the fund had borrowed money from FTX customer accounts to pay back lenders. Already, prosecutors have presented evidence that looks bad for Bankman-Fried, though the defense has yet to present its case.

Persons: CNN Business ’, Caroline Ellison, Sam Bankman, Ellison, FTX’s, ‘, — Ellison, SBF, ” Ellison, “, Fried, Sam Organizations: CNN Business, New York CNN, Alameda Research, Stanford, New York Times Locations: New York, FTX, Bankman, Alameda, Manhattan

☆ FTX reportedly transferred $500 million of crypto onto a USB stick to stop it from being stolen by hackers
▼ + stars: | 2023-10-10 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Hackers stole millions of dollars of crypto from FTX after the company declared bankruptcy. At the time, the company transferred $500 million onto a USB drive to safeguard it, per Wired. AdvertisementAdvertisementFTX employees reportedly scrambled to stop hackers from making off with $1.1 billion in crypto as the crypto exchange went into meltdown late last year. According to a report from Wired, FTX adviser Kumanan Ramanathan held as much as $500 million worth of assets on a USB drive for several hours to protect it from hackers. FTX's security failures have been well documented since the crypto exchange collapsed last year.

Persons: Sam Bankman, —, Kumanan Ramanathan, Ryne Miller, FTX, Fried Organizations: Service, Wired, Staff

☆ Ether ETF flows fizzle: Is interest in crypto wavering?
▼ + stars: | 2023-10-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEther ETF flows fizzle: Is interest in crypto wavering? Ric Edelman, founder of the Digital Assets Council of Financial Professionals and former head of Edelman Financial Engines, joins 'Halftime Report' to discuss the shock to the market fighting in the West bank has spurred, Ether ETF underperforming after launch, the ongoing debate over the fate of a spot bitcoin ETF.

Persons: Ric Edelman Organizations: Digital Assets, Financial Professionals, Edelman Locations: West

☆ Ether heads for a losing week as ETF launch fails to ease regulatory overhang on crypto market
▼ + stars: | 2023-10-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Meanwhile, ether is heading for a losing week even after ether futures ETFs began trading, which was expected to be a positive catalyst for the cryptocurrency and digital assets broadly. That represents about 0.2% of the trading volume of bitcoin futures ETFs on their first day of trading, he added. Bitcoin and ether, the "blue chip" coins in the crypto market, are widely seen as high-risk and notoriously volatile assets that sometimes move in tandem with the broader market. Many crypto investors take a longer view on them, however, and may still see them as safe havens. While one group may be concerned that their prices have been stuck this year, the other sees them as resilient in the face of U.S. regulatory uncertainty and rising rates.

Persons: Crypto, Conor Ryder, …, there's, Ryder, David Wells Organizations: Dow Jones, Ethena Labs, ETH, Enclave Markets

☆ The NFT market may be nearly worthless - but Starbucks is hoping there's appetite for digital pumpkin spice lattes
▼ + stars: | 2023-10-06 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Starbucks is selling pumpkin spice latte NFTs to commemorate the 20th anniversary of the seasonal beverage. The $20 digital stamps came out on Thursday via Starbucks Odyssey, the company's Web3 platform. A analysis emerged in September that showed 95% of the NFT market may now be worthless. AdvertisementAdvertisementLast December, Starbucks gifted free NFT stamps to members, and some of those resold for $1,900 each on secondary markets. Starbucks, however, may be an outlier player in the digital asset space as the broader NFT market was recently found to be mostly worthless.

Persons: — Organizations: Starbucks, Starbucks Odyssey, Service

☆ Bitcoin is a ‘critical hedge’ against currency debasement and return of inflation, Jefferies says
▼ + stars: | 2023-10-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin and gold are "critical hedges" against the potential for monetary policy that reduces the value of currency, as well as the return of inflation, Jefferies says. Wood emphasized that investments in both bitcoin and gold should be viewed by investors as insurance rather than short-term trades. Jefferies recommends a 10% allocation to bitcoin for U.S. dollar-based long-term global investors, such as pension funds. Alongside physical gold and unhedged gold mining stocks and Asia equities, Jefferies has added bitcoin to this global portfolio in the past couple of years. This year, the firm introduced a global long-only equity portfolio that includes a 3% weighing in the Grayscale Bitcoin Trust (GBTC) .

Persons: Jefferies, Christopher Wood, Wood, bitcoin, — CNBC's Michael Bloom Organizations: Federal Reserve, Jefferies, U.S, Signature Bank, Silicon Valley Bank, First Republic Bank Locations: U.S, bitcoin, Asia

☆ US SEC cannot appeal Ripple Labs decision, judge rules
▼ + stars: | 2023-10-04 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

FILE PHOTO: A representation of cryptocurrency Ripple is seen in this illustration taken August 6, 2021. Torres said Rakoff had been considering Terraform’s motion to dismiss the SEC case, and was required to accept all reasonable inferences in the regulator’s favor. A trial in the Ripple case is scheduled for April 23, 2024. In its December 2020 lawsuit, the SEC accused Ripple of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP. The case is SEC v Ripple Labs Inc et al, U.S. District Court, Southern District of New York, No.

Persons: Dado Ruvic, Analisa Torres, Torres, Jed Rakoff, Rakoff, Brad Garlinghouse, Chris Larsen, Ripple Organizations: YORK, U.S . Securities, Exchange Commission, Ripple Labs, REUTERS, District, SEC, U.S, Terra, Binance, Court, Southern District of Locations: Manhattan, U.S, Southern District, Southern District of New York

But FTX had asserted the opposite in an online post about a car race it sponsored in Miami Beach, Florida, six months before its November 2022 collapse. loadingAt Bankman-Fried's trial on Wednesday, prosecutors played for the jury FTX video advertisements in which a narrator said, "we're inviting everyone in," as well as spots featuring NFL quarterback Tom Brady and comedian Larry David. Bankman-Fried, 31, has pleaded not guilty to two counts of fraud and five counts of conspiracy over the collapse of FTX. Mark Cohen, Bankman-Fried's lawyer, said his client never intended to steal funds. "But on the other hand, many factors that nobody controlled could make crypto go up and down in value.

Persons: Sam Bankman, Mark Cohen, Jane Rosenberg, FTX, Shaquille O'Neal, Tom Brady, Larry David, Bankman, Prosecutors, cryptocurrency, Thane Rehn, Fried, Rehn, Cohen, O'Neal, Brady, David, Luc Cohen, Jody Godoy, Amy Stevens, Matthew Lewis Organizations: Federal Court, REUTERS, Twitter, Miami Heat, Thomson Locations: Bankman, FTX, New York City, U.S, Miami Beach , Florida, New York

☆ Intent will be the core of SBF trial: Crypto-focused lawyer Zack Shapiro
▼ + stars: | 2023-10-04 | by ( Talia Kaplan | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIntent will be the core of SBF trial: Crypto-focused lawyer Zack ShapiroZack Shapiro, managing partner at the crypto-focused law firm Rains, weighs in on Sam Bankman-Fried's trial and the impact on the digital asset industry.

Persons: Zack Shapiro Zack Shapiro, Rains, Sam Bankman

Smartphone with displayed Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Coinbase Global Inc FollowOct 3 (Reuters) - The U.S. Securities and Exchange Commission (SEC) on Tuesday asked a federal judge to deny a motion from Coinbase Global (COIN.O) to dismiss the regulator's lawsuit against the cryptocurrency exchange. THE TAKETuesday's filing showed that the SEC is seizing on the Terraform Labs ruling to raise questions about the ruling in the Ripple case, which the crypto industry had hailed as a victory. THE CONTEXTThe SEC sued Coinbase in June, accusing it of operating illegally as a national securities exchange, broker and clearing agency without registering with the regulator. Thus, the Motion hinges on whether Coinbase intermediated transactions involving investment contracts, and thus securities.

Persons: Dado Ruvic, Coinbase, Paul Grewal, Hannah Lang, Chris Prentice, Jonathan Stempel, Cynthia Osterman, Stephen Coates Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, Coinbase, Ripple Labs, Terraform Labs, Terraform, Thomson Locations: Manhattan, Washington, New York

☆ Sam Bankman-Fried’s trial has started. Here’s what you need to know
▼ + stars: | 2023-10-03 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —The trial of Sam Bankman-Fried, a onetime crypto billionaire who stands accused of orchestrating a multibillion-dollar fraud, kicked off Tuesday in federal court in Manhattan. Here are the key things to know about the case, and what we might see over the next several weeks at the trial. Prosecutors opted in June to sever five other charges that were brought after Bankman-Fried’s extradition from the Bahamas, where FTX was based. Sam Bankman-Fried leaving the Bahamas on December 21, 2022, being extradited to the US to face charges. He was arrested in December in the Bahamas on charges including fraud and conspiracy and extradited to the United States in January.

Persons: Sam Bankman, Judge Lewis Kaplan, ”, “, ” Kaplan, SFB, SBF, Caroline Ellison, Bernie Madoff, FTX, Tom Brady, Larry David, Fried, Bankman, Ellison, Howard Fischer, Moses Singer, Fischer, Lewis Kaplan, he’s Organizations: New, New York CNN, Prosecutors, Alameda Research, Super, Royal Bahamas Police Force, Investors, Bankman, Coindesk, Alameda, New York Times, Securities and Exchange, Enron, Metropolitan Detention Locations: New York, Manhattan, FTX, Bahamas, Miami, Alameda, United States, Brooklyn

REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsOct 3 (Reuters) - Sam Bankman-Fried's fraud trial, which is set to kick off on Tuesday, marks the culmination of a yearlong legal saga stemming from the dramatic collapse of the FTX cryptocurrency exchange he founded. Below is a timeline of key events leading up to the 31-year-old former billionaire's trial. MAY 2019Bankman-Fried and former Google employee Gary Wang found FTX as a new platform to trade crypto tokens and derivatives. Alameda gives crypto lender Voyager Digital a $200 million credit facility, and FTX gives lender BlockFi a $250 million loan. In a post-arrest blog post, Bankman-Fried denies stealing funds and blames FTX's collapse on a broader downturn in crypto markets.

Persons: Sam Bankman, Eduardo Munoz, Gary Wang, Larry David, Fried, CoinDesk, Binance, FTX, Changpeng Zhao, David, Tom Brady, Wang, Caroline Ellison, District Judge Lewis Kaplan, Nishad Singh, Kaplan revokes, Luc Cohen, Noeleen Walder, Daniel Wallis Organizations: REUTERS, Massachusetts Institute of Technology, Jane Street Capital, Alameda Research, Google, Forbes, Alameda, NFL, DEC, U.S, District, New York Times, Metropolitan Detention Center, Thomson Locations: New York, U.S, Alameda, Bahamas, Manhattan, United States, Palo Alto , California

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. It's a bit old hat, say a cohort of crypto investors who are betting on blockchain technology breathing new life into traditional assets. Others like Franklin Templeton, UBS Asset Management and ABN Amro (ABNd.AS) have launched tokenized versions of assets such as money market funds and green bonds. Indeed, the actual issuance and value of tokenized traditional assets remains small. Some market players now see significant advances.

Persons: Benoit Tessier, Franklin Templeton, Colin Butler, tokenization, hasn't, Morgan Krupetsky, Doug Schwenk, Lisa Mattackal, Medha Singh, Tom Wilson, Pravin Organizations: La Maison du, REUTERS, London Stock Exchange, Mirae, Securities, UBS Asset Management, ABN Amro, Polygon Labs, Reuters Graphics, Northern Trust, HSBC, Ava Labs, Digital Asset Research, Thomson, Reuters Locations: La, Paris, France, U.S, blockchain, Bengaluru

☆ The $8 billion Sam Bankman-Fried criminal trial starts today — here's what's at stake and how we got here
▼ + stars: | 2023-10-03 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +19 min

In the first trial, Bankman-Fried faces seven criminal counts related to the collapse of the crypto empire he built, including wire fraud, securities fraud and money laundering. Alameda, FTX and a host of subsidiaries Bankman-Fried founded filed for bankruptcy protection in Delaware. FTX's own terms of use specifically forbade him, or Alameda, from using customer money for anything — unless the customer allowed it. And from FTX's inception, there was a lot of customer money. Bankman-Fried and other executives admitted to each other that "FTX customer funds were irrevocably lost because Alameda had appropriated them."

Persons: Sam Bankman, Fried, Caroline Ellison, Gary Wang, Ellison, FTX, Wang, Judge Lewis Kaplan, Samuel Bankman, MacKenzie Sigalos, San Francisco —, SBF, Wang —, Nishad Singh —, Goldman Sachs, Binance, Damian Williams, Rehypothecation, —, Crypto, Solana, Zhao, he'd, Cromwell, John J, Ray, John Ray's, — CNBC's Rohan Goswami Organizations: Alameda Research, Southern, of, Stanford, MIT, U.S, New York Times, Bankman, That's, CNBC, Jane, Capital, University of California, Formula, Democratic, Twitter, Securities Exchange Commission, SEC, Futures Trading, United States Attorney's Office, CFTC, Alameda, Alameda didn't, Voyager, BlockFi, FTX, Industry, Investors, Zhao, Publicly, Sullivan, Enron Locations: Bahamas, Manhattan, New York, Alameda, of New York, FTX, Brooklyn , New York, San Francisco, South Korea, Alameda , California, Fried's Alameda, Berkeley, Miami, Washington, Delaware, California, Federal, Solana, Fried

Search resuls for: "Digital Asset"

25 mentions found