Aggressive institutional investors pushing into digital assets set to replace retail players January 10, 2023 Institutional investors are set to replace retail investors as the major holders of digital assets in 2023, according to new research shared with City A.M. today. More than 7 out of 10 of professional investors believe institutions will hold 60 per cent of digital assets within seven years, reversing the current status where institutions hold [...]
Bitcoin millionaires ‘drop like flies’ as FTX fallout shakes crypto market January 9, 2023 The number of bitcoin millionaires has plunged and scammers have filled their boots in the past year as the market is gripped by a ‘crypto winter’, brought on by soaring inflation and a string of high profile bankruptcies.
Auditor Mazars halts work with Binance December 16, 2022 Mazars has ceased work on providing proof-of-reserves statements with Binance, Crypto.com and other crypto firms.
Argo Blockchain gets Nasdaq notification for minimum bid price deficiency  December 16, 2022 Cryptocurrency mining firm Argo Blockchain has been notified by the Nasdaq stock exchange’s regulatory department that it has not met the minimum bid price as the closing bid remained below $1.00 for 30 consecutive days. According to Nasdaq rules, Argo has until 12 June 2023 to regain compliance with the minimum bid price requirement for [...]
Bankman-Fried claims he ‘didn’t ever try to commit fraud’ December 1, 2022 Sam Bankman-Fried tried to reject allegations he had committed fraud in the collapse of his crypto exchange FTX yesterday as he mounted his first public defence since the implosion of the exchange earlier this month.
Crypto fraud value surged 32 per cent to £226m this year November 28, 2022 Crypto fraud has surged during the tough economic climate by almost a third this year alone. More than 10,000 crypto fraud reports were made this year, a 16 per cent rise on 2021, as thousands of people were scammed. The value of UK crypto fraud surged by 32 per cent from £171m to £226m this [...]
FTX run as ‘personal fiefdom’ for Bankman-Fried, say lawyers November 22, 2022 Lawyers representing collapsed crypto exchange FTX said the firm was “effectively run as a personal fiefdom” for founder Sam Bankman-Fried today, as court documents showed the firm had splurged nearly $121m in property in the past two years.
Crypto collapse: FTX launches review of assets and seeks court relief to pay key vendors November 21, 2022 Collapsed crypto exchange FTX said it has launched a strategic review of its global assets and is preparing for the sale or reorganisation of some of its businesses, just a week after it filed for bankruptcy. FTX said the review of its global assets would “begin to maximize recoverable value for stakeholders”. In a filing this [...]
FTX’s new bankruptcy boss slams ‘complete failure of corporate controls’ November 17, 2022 The new chief of collapsed crypto exchange FTX has slammed a “complete failure of corporate controls” and “absence of trustworthy financial information” at the firm, in court filings published today.
FTX: Bankman-Fried claims he ‘basically forgot’ about account holding $8bn customer cash November 17, 2022 FTX founder Sam Bankman-Fried has launched an attack on regulators for failing to protect consumers today, even as he admitted he “basically forgot” about an account holding $8bn of customer’s cash.