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☆ Clear rules for stablecoins will allow the sector to flourish: Circle
▼ + stars: | 2023-11-16 | 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 EmailThere are clear rules for stablecoins which will allow the sector to flourish: Circle CEOJeremy Allaire, CEO of Circle, says within the sphere of digital assets, people want private sector innovation and that the regulation of stablecoins is the current priority.

Persons: Jeremy Allaire

☆ Commerzbank receives crypto custody licence in Germany
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: 1 min

Nov 15 (Reuters) - Commerzbank AG (CBKG.DE) on Wednesday said it has received a crypto custody licence in Germany, allowing it to build up a broad range of digital asset services, with particular emphasis on crypto assets. Reporting by Nilutpal Timsina in Bengaluru; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Nilutpal, Jason Neely Organizations: Commerzbank, Thomson Locations: Germany, Bengaluru

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSolana rallies 11% amid broader altcoin rally: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Ric Edelman, founder of the Digital Assets Council of Financial Professionals, discusses the latest trends in the crypto market.

Persons: explainers, Ric Edelman Organizations: Email Solana, CNBC Crypto, CNBC, Digital Assets, Financial Professionals

☆ NBA's Spencer Dinwiddie and Calaxy co-founder Solo Ceesay demo the app's new crypto payment feature
▼ + stars: | 2023-11-14 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNBA's Spencer Dinwiddie and Calaxy co-founder Solo Ceesay demo the app's new crypto payment featureSpencer Dinwiddie, NBA athlete and co-founder of Calaxy, and Solo Ceesay, co-founder and CEO of Calaxy, discuss the latest for the web3-focused app. In the wide-ranging interview, Dinwiddie and Ceesay explain the new feature for sending crypto or NFTs on the app, discuss digital asset markets and provide their 2024 outlook for web3.

Persons: NBA's Spencer Dinwiddie, Calaxy, Spencer Dinwiddie, Ceesay, Dinwiddie Organizations: NBA, Calaxy

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsNov 14 (Reuters) - Bitcoin miners are making hay while the sun shines. "You're seeing a lot of urgency to plug rigs in ahead of the halving," said Gregory Lewis, analyst at brokerage BTIG that covers the 13 biggest U.S.-listed bitcoin miners. That means miners are having to use more and more power and speed to crack the complex maths puzzles that earn them a bitcoin. "It's too early to say if all bitcoin miners are out of the wood," said Ludovic Thomas, portfolio manager at Swiss-based Criptonite Asset Management that invests in digital assets.

Persons: Benoit Tessier, Gregory Lewis, Bitcoin's, Morgan, William Szamosszegi, Matteo Greco, It's, Ludovic Thomas, Medha Singh, Lisa Mattackal, Vidya Ranganathan Organizations: La Maison du, REUTERS, U.S, Fineqia, Central, Swiss, Management, Thomson, Reuters Locations: La, Paris, France, J.P, Bengaluru

☆ Goldman leads new funding for Fnality blockchain payments firm
▼ + stars: | 2023-11-14 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

The Goldman Sachs company logo is on the floor of the New York Stock Exchange in New York City, U.S., July 13, 2021. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsLONDON, Nov 14 (Reuters) - Fnality, a blockchain-based wholesale payments firm, said on Tuesday it has raised 77.7 million pounds ($95.09 million) in a second round of funding backed by Goldman Sachs and other blue chip financial firms as it awaits Bank of England approval to start operations. UK-based Fnality seeks to bridge the gap between mainstream and digital finance to cut the time and cost of settling, managing collateral and making payments for financial market transactions. Fnality said the round was led by Goldman Sachs and BNP Paribas, with participation from settlement houses DTCC and Euroclear, as well as Nomura and WisdomTree. Finality raised 55 million pounds in its first whip round in June 2019.

Persons: Goldman Sachs, Brendan McDermid, Fnality, Mathew McDermott, Goldman's, Huw Jones, Susan Fenton Organizations: New York Stock Exchange, REUTERS, of, BNP, Nomura, Banco Santander, BNY Mellon, Barclays, CIBC, Commerzbank, ING, Lloyds Banking Group, Nasdaq Ventures, Street, Sumitomo Mitsui Banking Corporation, UBS, Sterling, Bank of England, Thomson Locations: New York City, U.S, DTCC

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailARK launches new crypto-focused ETFs in 21Shares partnership: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Spencer Dinwiddie, NBA athlete and co-founder of Calaxy, and Solo Ceesay, co-founder and CEO of Calaxy, discuss the latest for the web3-focused app. In the exclusive interview, Dinwiddie and Ceesay explain the new feature for sending crypto or NFTs on the app, discuss digital asset markets and provide their 2024 outlook for web3.

Persons: explainers, Spencer Dinwiddie, Ceesay, Dinwiddie Organizations: CNBC Crypto, CNBC, NBA, Calaxy

☆ Yellen calls on APEC finance ministers to boost growth potential sustainably
▼ + stars: | 2023-11-13 | by ( ) www.cnbc.com time to read: +3 min

U.S. Treasury Secretary Janet Yellen called on Pacific Rim finance ministers on Monday to boost the productive capacity of their economies while working to finance the transition to low-carbon energy and provide more opportunities for the poor. Opening a meeting of finance ministers of Asia Pacific Economic Cooperation countries, Yellen said the group's economic dynamism meant that the actions they take matter for addressing global challenges. A day after the APEC Secretariat issued new forecasts for slowing growth next year amid a continued inflation fight and U.S.-China tensions, Yellen said the group needed to increase potential output. And we need to leverage emerging technologies to drive innovation while maintaining safe financial markets," Yellen added. The APEC finance ministers meeting comes just ahead of the APEC leaders' summit later this week and a high-stakes meeting between U.S.-President Joe Biden and Chinese President Xi Jinping aimed at easing tensions between the world's two largest economies.

Persons: Janet Yellen, Yellen, Joe Biden, Xi Jinping Organizations: Treasury, APEC, Economic Cooperation, Pacific Rim, Asia Pacific Economic Cooperation Locations: U.S, Asia, San Francisco , California, Pacific, China, Ukraine, Vietnam, Indonesia

☆ Spot bitcoin ETF approval by the SEC is approaching, experts say. What that means for investors
▼ + stars: | 2023-11-13 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Bitcoin investors are eagerly waiting for regulators to approve the first U.S. spot bitcoin exchange-traded fund, which could be significant for cryptocurrency investors, experts say. Last week, the price of bitcoin notched an 18-month high, climbing to $37,970, after BlackRock took first steps toward an ether ETF. At least nine asset management firms — including BlackRock, WisdomTree, Valkyrie and others — are waiting for Securities and Exchange Commission approval to issue a spot bitcoin ETF. Currently, U.S. investors can buy bitcoin futures ETFs, which own bitcoin futures contracts, or agreements to buy or sell the asset later for an agreed-upon price. The long-awaited bitcoin spot ETF would invest in the digital asset directly.

Persons: it's, WisdomTree, Bryan Armour Organizations: BlackRock, Securities, Exchange, North America, Morningstar Locations: U.S, BlackRock

☆ Dollar headed for best week against yen in three months; cryptos leap
▼ + stars: | 2023-11-10 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. The dollar stood near a one-year high at 151.355 yen on Friday and touched one-week highs against the Australian and New Zealand dollars. The greenback, however, regained its footing this week and was eyeing a weekly gain of roughly 1.3% against the yen, its best performance since August. The Aussie and the kiwi were likewise headed for a 2.3% and 1.75% weekly decline against the dollar respectively, also their steepest drop in months. "Even though we don't expect Powell to deliver on the tightening bias, that tightening bias does support the dollar," said Kong.

Persons: Rick Wilking, Jerome Powell, Powell, Tina Teng, it's, Carol Kong, Carl Szantyr, Rae Wee, Lincoln, Kim Coghill Organizations: REUTERS, Rights, Federal, New, CMC Markets, Fed, Commonwealth Bank of Australia, Australian, New Zealand, U.S . Securities, Exchange Commission, Thomson Locations: Westminster , Colorado, Rights SINGAPORE, New Zealand, U.S, China

☆ Dollar eyes best week against yen in three months; cryptos leap
▼ + stars: | 2023-11-10 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. The dollar stood near a one-year high at 151.38 yen on Friday and touched one-week highs against the Australian and New Zealand dollars. The greenback, however, regained its footing this week and was eyeing a weekly gain of roughly 1.3% against the yen, its best performance since August. The Aussie and the kiwi were likewise headed for a 2.4% and 1.8% weekly decline against the dollar respectively, also their steepest drop in months. "Even though we don't expect Powell to deliver on the tightening bias, that tightening bias does support the dollar," said Kong.

Persons: Rick Wilking, Jerome Powell, Powell, Tina Teng, it's, Carol Kong, Carl Szantyr, Rae Wee, Lincoln Organizations: REUTERS, Rights, Federal, New, CMC Markets, Fed, Commonwealth Bank of Australia, Australian, New Zealand, U.S . Securities, Exchange Commission, Thomson Locations: Westminster , Colorado, Rights SINGAPORE, New Zealand, U.S, China

☆ A bitcoin ETF seems to be just around the corner. How will financial advisors react?
▼ + stars: | 2023-11-09 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

Edelman also founded Edelman Financial, a large firm of registered investment advisors. The potential of a bitcoin ETF has appeared to help fuel a recent rally in the cryptocurrency. Concerns from advisors Crypto's dramatic rise has largely come without the embrace of the traditional financial system, such as financial advisors and major banks. But not all financial advisors seem ready to embrace crypto just because investing in it is simpler. Client demand Even if advisors are skeptical of crypto, the arrival of bitcoin ETFs is sure to generate more questions from clients.

Persons: BlackRock, Ric Edelman, Edelman, Bitcoin, bitcoin, Sam Bankman, Randy Frederick, Frederick, Andrew Morgan, Taylor, Morgan, that's, Amy Hescht, They're Organizations: Nasdaq, Digital Assets Council, Financial Professionals, Edelman, The Securities, Exchange Commission, SEC, Blackrock, Schwab Center, Financial Research, Fidelity, Presper Financial, Advisors, fund's Locations: United States, U.S, Bitcoin, BlackRock, Michigan, Akron , Ohio

☆ MicroStrategy stock is up 250% this year. Michael Saylor says bitcoin allows his firm to compete with giants like the Magnificent 7 for investors' attention.
▼ + stars: | 2023-11-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Founder Michael Saylor explained how bitcoin has helped the company's stock compete with Big Tech giants. He said spot bitcoin ETFs and the 2024 halving event will push the token's price higher. If you're going to keep up with the Magnificent Seven you're going to have to grow your revenues and cash flows at 20% a year or faster ad infinitum," Saylor said in a Fox Business interview earlier this week. "There's seven companies that generate all the shareholder returns. Bitcoin has rallied sharply in 2023 but can push even higher once regulators approve financial firms' bitcoin spot ETF products, in Saylor's view.

Persons: Michael Saylor, bitcoin, —, MicroStrategy, Saylor, It's, Bitcoin Organizations: Big Tech, Service, Apple, Microsoft, Fox, Google, Apple Computer, Bloomberg Intelligence

☆ Congress Must Aid Fight Against Illicit Use of Crypto, Treasury Official Says
▼ + stars: | 2023-11-08 | by ( Richard Vanderford | ) www.wsj.com time to read: 1 min

Deputy Treasury Secretary Wally Adeyemo. Photo: daniel leal/Agence France-Presse/Getty ImagesA senior Treasury Department official said the Biden administration wants new powers from Congress to aid in a crackdown on the illicit use of cryptocurrencies, citing digital asset flows allegedly connected to Palestinian militant group Hamas. Treasury has been in communication with Democrats and Republicans about actions that they could take, Deputy Treasury Secretary Wally Adeyemo said Tuesday in Washington at the annual meeting of the Securities Industry and Financial Markets Association, a trade group.

Persons: Wally Adeyemo, daniel leal, Biden Organizations: Agence France, Treasury Department, Hamas, Treasury, Securities Industry, Financial Markets Association Locations: Washington

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Nov 8 (Reuters) - HSBC (HSBA.L) plans to launch in 2024 a custody service for storing blockchain-based assets excluding cryptocurrency, the bank said on Wednesday. The service, which is a partnership with Swiss digital asset firm Metaco, will allow institutional clients to store blockchain-based tokens representing traditional financial assets, as opposed to crypto or stablecoins, HSBC said. The bank last year launched a digital asset platform, HSBC Orion, which allows financial institutions to issue blockchain-based versions of financial assets, also known as tokenised securities. HSBC did not give a figure for the size of the market for blockchain-based assets excluding cryptocurrencies. In 2019, HSBC announced a platform called Digital Vault, which allows investors to access digital records of securities bought on private markets.

Persons: Dado Ruvic, Zhu Kuang Lee, Banks, Elizabeth Howcroft, Sinead Cruise, Mark Potter Organizations: HSBC Bank, REUTERS, HSBC, cryptocurrency, Swiss, HSBC Orion, Blockchain, blockchain, Thomson Locations: London

☆ HSBC to launch storage services for tokenized securities as more big banks warm to blockchain
▼ + stars: | 2023-11-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

HSBC on Wednesday announced it will offer custody services for tokenized securities, making the British bank the latest major institution to embrace digital assets. HSBC is using technology from Swiss crypto custody firm Metaco, which was recently acquired by blockchain startup Ripple, to store bonds and other securities. HSBC is the latest institution to embrace digital asset custody, after U.S. banking giant BNY Mellon announced a similar move in 2021. Tokenized securities are effectively regulated assets, like bonds and equities, in the form of tokens issued on a blockchain. It marks another step from HSBC toward embracing digital assets.

Persons: BNY Mellon, bitcoin, Banks, Zhu Kuang Lee, Adrien Treccani Organizations: HSBC, Wednesday, HSBC Orion, BNY, CNBC, Hong Locations: Europe, British, Swiss, Hong Kong

☆ SEC Chair Gensler says rebooted FTX run by ex-NYSE chief is possible if done 'within the law'
▼ + stars: | 2023-11-08 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

WASHINGTON — A revived FTX could work if new leadership does so with a clear understanding of the law, SEC chair Gary Gensler told CNBC on the sidelines of DC Fintech Week. "If Tom or anybody else wanted to be in this field, I would say, 'Do it within the law,'" Gensler said on Wednesday. Alameda was a market maker for the FTX exchange, and was given privileges, such as a $65 billion line of credit requiring no collateral. "We would never let the New York Stock Exchange also operate a hedge fund and trade against their members or trade against customers in the market," said Gensler. "FTX and Alameda had an extremely problematic relationship," Castle Island Venture's Nic Carter told CNBC.

Persons: Gary Gensler, Emanuel Cleaver, WASHINGTON —, Gensler, Tom Farley, Farley, FTX, Sam Bankman, Fried, Nic Carter Organizations: Financial, Securities and Exchange Commission, SEC, CNBC, DC, New York Stock Exchange, Alameda Research Locations: Rayburn, Alameda, FTX

☆ Spanish regulator opens first cryptoasset advertising case
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsMADRID, Nov 8 (Reuters) - Spain's stock market supervisor said on Wednesday it had opened its first case relating to a possible infringement of recent rules governing mass advertising campaigns of cryptoassets. The CNMV said on Wednesday that it had opened disciplinary proceedings against Spanish technology provider Miolos S.L. over two mass campaigns advertising cryptoassets. Advertisers and companies that market cryptoassets must inform the CNMV at least 10 days beforehand about the content of campaigns targeting more than 100,000 people. Spain's rules also apply to cryptoasset service providers when advertising their activities and to any person advertising on their own or on behalf of third parties.

Persons: Dado Ruvic, Madrid, CNMV, Miolos, Rodrigo Buenaventura, Buenaventura, Jesús Aguado, Emma Pinedo, Inti Landauro, Alexander Smith Organizations: REUTERS, Rights, Spanish, Miolos, Thomson Locations: Rights MADRID, cryptoassets

☆ Opinion: Israel-Hamas war’s endgame
▼ + stars: | 2023-11-05 | by ( Richard Galant | ) edition.cnn.com time to read: +20 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. Last week, as Israel continued its military response to the October 7 Hamas terror attack, its political goals — and potential endgame — remained a source of huge controversy. Join us on Twitter and Facebook“Take, for example, the Israel Defense Forces strike on Gaza’s Jabalya refugee camp on Tuesday. “Following the horrific massacre in Israel by Hamas terrorists on October 7, I felt an intense, relentless grief. Though Perry wanted to escape Chandler, he kept him around, because heaven forbid anyone saw what he was hiding.”

Persons: Gideon Rose, ”, ” Rose, —, Joe Biden, Robert A . Pape, “, ” DJ Rosenthal, Obama, ’ inhumanity, Jordan, Antony Blinken, ” Shai Davidai, Nadia AbuShaban, Hashem, David Shulkin, Peter Bergen, Hillary Clinton, Donald Trump, Karl Rove, “ Mike Pence, Geoff Duncan, Nikki Haley, Duncan, Ron DeSantis, ” Haley, DeSantis, Lisa Benson, GoComics.com, Michael Ramirez, Trump, Norman Eisen, Joshua Kolb, Donald Trump’s, ” Eisen, Kolb, Leah Abucayan, CNN Maggie Jackson, ” She’s, Gabriel Levin, Frida Ghitis, ‘ Allahu akbar, ’, Ghitis, Wen, Julian Zelizer, Johnson’s, Mike Johnson’s, Biden, ” Paul Krugman, Johnson, Mike Johnson, ’ ”, John Avlon, “ Merriam, It’s, Benjamin Franklin, ’ ” Drew Sheneman, Nicole Hemmer, SBF Clay Jones, Sam Bankman, Howard Fischer, ” Fischer, Sophie Compton, Reuben Hamlyn, “ Chillingly, Taylor, Compton, Hamlyn, Walt Handelsman, Laura Tillman, ” Don’t, Jill Filipovic, Celia Wexler, Pope Francis, Elena Sheppard, ‘, Matthew Perry, Chandler Bing Reisig, Dean Obeidallah, Perry, Chandler Bing, Chandler, ” “ Chandler, I’m Chandler, ‘ I’m, ” Perry, ” Holly Thomas, “ Perry, Roger Organizations: CNN, University of Chicago, ”, Hamas, US National Security Council, Twitter, Facebook, Israel Defense Forces, Israel, Columbia Business School, “, New York Times, Street Journal, GOP, Republican, Trump, UN, Florida Gov, Wednesday’s GOP, Supreme, White, Cornell University, The Cornell Daily Sun, Cornell, Progressives, Internal Revenue Service, Congressional, Office, Electoral College, America, Agency, FBI, NBCU, Bank, Getty Locations: States, Iraq, Israel, Southern Lebanon, Lebanon, Palestinian, “ Israel, Bolivia, Chile, Colombia, Tel Aviv, Gaza, ”, Florida, Wednesday’s, Rhode, Rhode Island, Dagestan, Russian, Lewiston , Maine

☆ After a year in FTX’s shadow, the crypto industry is deligting in Bankman-Fried’s conviction
▼ + stars: | 2023-11-04 | by ( Manav Tanneeru | Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN —It took just under a year for Sam Bankman-Fried to go from crypto wunderkind to convicted felon. When Bankman-Fried’s crypto empire collapsed last November, it sent the fledgling industry back years. For the crypto faithful who are still standing and striving, the trial couldn’t be over soon enough. “A lot of folks in the crypto industry are delighted,” said Yesha Yadav, a law professor and associate dean at Vanderbilt University. “There’s definitely an element of ‘ding-dong the witch is dead,’” said Eric Soufer, a political adviser to major crypto companies, referring to Bankman-Fried’s conviction.

Persons: Sam Bankman, Fried, ”, Bobby Zagotta, “ SBF, Yesha Yadav, “, FTX, they’ll, Bernie Madoff, Elizabeth Holmes, Gary Gensler, “ There’s, ’ ”, Eric Soufer Organizations: New, New York CNN, Vanderbilt University, BlackRock, Fidelity, Justice Department, Securities and Exchange Commission, SEC Locations: New York, European

☆ A timeline of Sam Bankman-Fried trial: Key moments leading up to FTX founder's conviction
▼ + stars: | 2023-11-03 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +5 min

Indicted FTX founder Sam Bankman-Fried leaves the United States Courthouse in New York City, U.S., July 26, 2023. MAY 2019Bankman-Fried and former Google employee Gary Wang found FTX as a new platform to trade crypto tokens and derivatives. Bankman-Fried debuts on the Forbes billionaires list, which estimates his net worth at $22.5 billion. 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, Fried, Amr Alfiky, Gary Wang, Larry David, 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: United, 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 City, U.S, Alameda, Bahamas, Manhattan, United States, Palo Alto , California, New York

☆ Who is former crypto king Sam Bankman-Fried?
▼ + stars: | 2023-11-03 | by ( Samantha Delouya | Allison Morrow | ) edition.cnn.com time to read: +9 min

New York (CNN) — Sam Bankman-Fried, once known as a cryptocurrency whiz kid, was found guilty on Thursday for his role in the collapse of the cryptocurrency exchange FTX. His entrepreneurial drive didn’t stop there: In 2019, Bankman-Fried co-founded cryptocurrency exchange FTX and became its CEO. In December 2022, Bankman-Fried was arrested in the Bahamas after US prosecutors filed criminal charges against him. Jane Rosenberg/ReutersBankman-Fried was found guilty of stealing billions of dollars from accounts belonging to customers of his once-high-flying crypto exchange FTX. Immediately following FTX’s crash, crypto exchange Gemini, which was founded by Cameron and Tyler Winklevoss, froze customer redemptions in its lending unit, citing market turmoil.

Persons: — Sam Bankman, FTX, Jane Street, ”, Fried, “, …, ” Sam Bankman, Erika P, Rodriguez, Jane, Caroline Ellison, Binance, Sam Bankman, Danielle Sassoon, District Judge Lewis Kaplan, Jane Rosenberg, Joe Bankman, Barbara Fried, Bankman, Allan Joseph Bankman, Yuki Iwamura, Samuel Bankman, Saul Loeb, ingratiated, Tom Brady, Stephen Curry, Naomi Osaka, Larry David, Cameron, Tyler Winklevoss Organizations: CNN, Jane, Capital, MIT, Alameda Research, Chicago Tribune, Tribune, Service, SoftBank, U.S, District, Reuters, Bloomberg, Royal Bahamas Police Force, Billionaire, Stanford, FTX, Getty, Democratic Party, Federal, Commission, Republican, Agriculture, Nutrition, Forestry, Miami Heat, ”, New Locations: York, Alameda, North Berkeley , California, Nassau, Bahamas, BlackRock, Bankman, Hong Kong, United States, FTT, New York City, U.S, FTX, New York, Washington ,

☆ Breakingviews: SBF’s guilty verdict will help crypto break free
▼ + stars: | 2023-11-03 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +4 min

REUTERS/Jane Rosenberg Acquire Licensing RightsNEW YORK, Nov 2 (Reuters Breakingviews) - Just over a year ago, Sam Bankman-Fried might have been counting his large stash of virtual coins. A Manhattan jury on Thursday convicted the FTX founder of seven counts related to crimes he committed at the helm of the now-bankrupt cryptocurrency exchange. With some $8 billion in customer funds stolen, his misdeeds will go down as one of the biggest financial frauds on record. To be sure, the speculative bubble in crypto would probably have deflated even without Bankman-Fried. The bankrupt exchange is also negotiating with three bidders to help it relaunch trading services, Bloomberg reported last month.

Persons: Lewis Kaplan, Sam Bankman, Fried, Jane Rosenberg, FTX, John J, Ray III, Nicolas Roos, Peter Thal Larsen, Thomas Shum Organizations: REUTERS, Reuters, Galaxy Digital, Three, BlackRock, Bloomberg, Thomson Locations: New York City, U.S, Manhattan

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat's next after Sam Bankman-Fried's conviction in fraud trial: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Paul Tuchmann of Wiggin and Dana provides legal insight into the swift verdict in the trial of Sam Bankman-Fried. Crypto World also spoke with trial attorney and crypto trader James Koutoulas about the implications of the guilty verdict on the digital asset industry.

Persons: What's, Sam Bankman, explainers, Paul Tuchmann, Wiggin, Dana, James Koutoulas Organizations: CNBC Crypto, CNBC

After Kaplan left the courtroom, Cohen put his arm around Bankman-Fried as they spoke at the defense table. He testified that while he made mistakes running FTX, such as not formulating a risk-management team, he did not steal customer funds. "We thought that we might be able to build the best product on the market," Bankman-Fried testified. The defense argued the three, who have not yet been sentenced, falsely implicated Bankman-Fried in a bid to win leniency at sentencing. Bankman-Fried has been jailed since August after Kaplan revoked his bail, having concluded he likely tampered with witnesses.

Persons: Sam Bankman, Fried, Bankman, FTX, Damian Williams, Williams, Bernie Madoff, Jordan Belfort, District Judge Lewis Kaplan, Mark Cohen, Kaplan, Cohen, nodded, Joseph Bankman, Barbara Fried, Fried's, Danielle Sassoon, Caroline Ellison, Gary Wang, Nishad Singh, Luc Cohen, Jody Godoy, Will Dunham, Daniel Wallis Organizations: U.S . Justice, U.S, District, Massachusetts Institute of Technology, Marshals, Stanford Law, Prosecutors, Alameda Research, Former Alameda, Thomson Locations: Manhattan, Bankman, New York City, U.S, FTX, Alameda, New York, Lincoln

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