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The Binance USD stablecoin is one of the world's biggest

Binance stablecoin backer ordered to stop issuing token

New York's chief financial regulator has ordered Paxos, the company behind the stablecoin of major crypto exchange Binance, to stop issuing the token, Paxos said in a statement today.

Business • 13 Feb 23

Custodia lacked a sufficient risk management framework to address the heightened risks associated with crypto - US Fed

US Fed rejects crypto-focused bank's application

The US Federal Reserve has rejected crypto-focused Custodia Bank's application to become a member of the Federal Reserve System, saying the bank's proposed business model and focus on digital assets presented significant safety and soundness risks.

Business • 27 Jan 23

Sam Bankman-Fried, the founder and former CEO of FTX, has been accused of stealing billions of dollars from the exchange's customers

New FTX chief says the crypto exchange could restart

Bankrupt crypto exchange FTX is looking into the possibility of reviving its business, Chief Executive Officer John Ray told the Wall Street Journal today.

Business • 19 Jan 23

The slogan "In Crypto We Trust" on a tyre side wall on a Mercedes-Benz car outside the Blockchain Hub pavilion at Davoso

Cowed crypto crowd feel winter freeze at Davos

In the snow and ice on the main drag in Davos, the impact of the crypto winter is plain for WEF attendees to see.

Business • 19 Jan 23

The company said it expects to incur about $149 million to $163 million in restructuring expenses

Coinbase to lay off 20% of workforce

Coinbase Global has said it will reduce its workforce by about 20%, or 950 employees, as part of a restructuring plan, in a third round of layoffs for the cryptocurrency exchange since last year.

Business • 10 Jan 23

On Tuesday, blockchain data firm Nansen said Binance saw withdrawals of $1.9 billion in 24 hours, the largest such outflow since June.

Crypto firm Binance says deposits returning

The head of major crypto exchange Binance said deposits were returning, a day after it saw heavy outflows of cryptocurrencies and halted some stablecoin withdrawals.

Business • 14 Dec 22

A Binance spokesperson earlier said it always had "more than enough funds" to meet withdrawal requests.

Binance withdrawals hit $1.9bn in 24 hours

Binance has seen withdrawals of $1.9 billion in the last 24 hours, blockchain data firm Nansen said, as the world's biggest crypto exchange said it had "temporarily paused" withdrawals of the USDC stablecoin.

Business • 13 Dec 22

The crash in bitcoin led to a "crypto winter", which saw the collapse of crypto exchange FTX

EU urges rapid completion of bloc's crypto rules

The "questionable practices" at now collapsed crypto exchange FTX would not have been allowed to happen under European Union rules that need to be finalised urgently, a senior European Commission official said today.

Business • 30 Nov 22

The report said law firms Proskauer Rose and Kirkland & Ellis are being consulted by creditor groups

US crypto broker Genesis working to avoid bankruptcy

US cryptocurrency brokerage Genesis said it was seeking to avoid bankruptcy after Bloomberg news reported on Tuesday that creditors to the firm are organizing with restructuring lawyers to prevent insolvency.

Business • 30 Nov 22

New Jersey-based BlockFi became the first direct casualty of crypto exchange FTX's collapse earlier this month.

BlockFi makes first appearance in bankruptcy court

US cryptocurrency lender BlockFi will today make its first appearance in US bankruptcy court after filing for Chapter 11 protection on Monday.

Business • 29 Nov 22

The move comes more than a week after FTX filed for US bankruptcy protection

Crypto lender BlockFi files for bankruptcy protection

US cryptocurrency lender BlockFi has said it has filed for Chapter 11 bankruptcy protection along with eight affiliates in a New Jersey court, the latest casualty since FTX's collapse earlier this month triggered instability in the crypto market.

Business • 28 Nov 22

Crypto broker Genesis suspends redemptions

Crypto broker Genesis Global Capital is suspending redemptions and new loan originations at its lending business, it said today, in the latest sign of the industry fallout from last week's collapse of major crypto exchange FTX.

Business • 16 Nov 22

FTX's 'severe liquidity crisis' outlined in filings

Collapsed-crypto exchange FTX outlined a "severe liquidity crisis" in US bankruptcy filings, which said the group could have more than 1 million creditors.

Business • 15 Nov 22

Cryptocurrencies remain under pressure after the collapse of FTX

As regulators scrutinise FTX, focus moves to Crypto.com

The fallout from the collapse of crypto exchange FTX kept bitcoin and other cryptocurrencies under pressure today, with market participants worrying about heavy withdrawals at Singapore-based exchange Crypto.com.

Business • 14 Nov 22

FTX, which was founded in 2019, is on the brink of collapse

The rise and fall of crypto exchange FTX

Cryptocurrency exchange FTX stood on the brink of failure today after a bailout from larger rival Binance collapsed and the chances of other rescue funding looked slim.

Business • 11 Nov 22

FTX was seeking a lifeline after a liquidity crunch due to customers withdrawing funds at a frenetic pace

FTX to file for US bankruptcy protection, CEO resigns

Crypto exchange FTX is to start US bankruptcy proceedings and CEO Sam Bankman-Fried is to step down, after a liquidity crisis at the cryptocurrency group that has prompted intervention from regulators around the world.

Business • 11 Nov 22

Customers in these EU markets can now buy, sell and store over 100 cryptocurrencies

Cryptocurrency platform Gemini expands across Europe

Cryptocurrency platform Gemini has said it is expanding across the EU into a further eleven markets.

Business • 08 Nov 22

The platform allows customers to buy, sell and store cryptocurrencies

Cryptocurrency platform Gemini launches in Ireland

Gemini has launched its cryptocurrency exchange and custody services in Ireland.

Ireland • 12 Oct 22

The pound fell to a record low against the dollar on Monday, having plunged the previous Friday after the UK government announced unfunded tax cuts.

Bitcoin-sterling volumes spike to record high

Trading volumes between the British pound and the cryptocurrency bitcoin spiked to a record high after sterling dropped on Monday, according to market data firm Kaiko Research, in what analysts said was likely a rush by investors to dump their sterling for the digital asset or profit from arbitrage.

Business • 29 Sep 22

Bitcoin, the biggest cryptocurrency by market value, fell about 5% to a three-month low of $18,387 today

Bitcoin falls below $19,000 as cryptocurrencies fall

Cryptocurrencies fell to fresh lows today on regulatory concerns and as investors globally turned shy on risky assets with interest rate rises looming around the world.

Business • 19 Sep 22

Gemini was founded in 2014 in the US by twin brothers Cameron and Tyler Winklevoss

Crypto platform Gemini authorised by Central Bank

Cryptocurrency platform Gemini has received the first Virtual Asset Service Provider (VASP) registration from the Central Bank of Ireland.

Business • 19 Jul 22

Celsius Network revealed a gaping $1.2 billion hole in its balance sheet

Celsius customers face long wait for money

Customers of crypto lender Celsius face a long and anxious wait to know how, when and even if they will get their money back after the company filed for bankruptcy, becoming one of the biggest victims of the collapse in crypto markets this year.

Business • 18 Jul 22

Regulator identifies issues in virtual asset providers

The Central Bank has found a lack of understanding and compliance with Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) obligations among the vast majority of firms seeking permission to provide services around virtual assets such as cryptocurrencies here.

Business • 11 Jul 22

The value of bitcoin, the largest cryptocurrency, has slumped some 70% since its November record of $69,000

G20 watchdog to propose first global crypto rules

The Financial Stability Board (FSB) has said it would propose "robust" global rules for cryptocurrencies in October, following recent turmoil in markets that has highlighted the need to regulate the "speculative" sector.

Business • 11 Jul 22

Bitcoin which has lost 57% so far this year and 37% this month, fell below $20,000 over the weekend for the first time since December 2020

Bitcoin steady at $20,000, investors fear domino effect

The cryptocurrency industry remained on edge today as bitcoin held just above $20,000 and investors feared that problems at major crypto players could unleash a wider market shakeout.

Business • 20 Jun 22