Hamas Needed a New Way to Get Money From Iran. It Turned to Crypto.

Nov. 11, 2023 11:00 pm ET In mid-2019, Israel’s military used a precision strike on a narrow street to kill a Hamas commander whom it called Iran’s money man in Gaza. The commander ran an off-the-books system of remittances in which trusted agents shuttled physical cash and goods across borders to settle customers’ balances. This … Read more

Key Witness at Sam Bankman-Fried Trial to Launch New Crypto Exchange

A group of former FTX executives, including one who served as a key witness against Sam Bankman-Fried, are teaming up to build a new cryptocurrency exchange that aims to solve the problems that doomed their previous employer. Trek Labs, a Dubai-based startup led by the former FTX general counsel Can Sun, received a license from … Read more

Former NYSE President in Talks to Reboot FTX Exchange

A company run by former New York Stock Exchange President Tom Farley is among three suitors vying to buy the remnants of FTX, as the auction for the collapsed cryptocurrency exchange founded by Sam Bankman-Fried reaches its final stages. Bullish, the crypto exchange run by Farley, fintech startup Figure Technologies and crypto venture-capital firm Proof … Read more

Goldman Moves to Unload GM Credit Card

Updated Nov. 7, 2023 5:44 pm ET Goldman Sachs plans to begin a process to unload its General Motors credit card program in another step away from its failed foray into consumer lending. The bank on Tuesday informed a group of employees within its Platform Solutions division, who work on the GM card, that a … Read more

Sam Bankman-Fried Verdict Reflects Crypto’s Broken Dreams

Sam Bankman-Fried is gone. And crypto is back to its favorite activity: a wild speculative rally. The FTX founder’s trial featured a parade of witnesses detailing a multibillion-dollar fraud at the heart of the crypto market. None of it dented the enthusiasm of crypto investors. During the trial, crypto prices surged on optimism that U.S. … Read more

FTX Founder Sam Bankman-Fried Found Guilty of Fraud

Listen to article (2 minutes) FTX founder Sam Bankman-Fried was convicted Thursday of stealing billions of dollars from customers of the doomed crypto exchange, in what prosecutors called one of the biggest financial frauds in U.S. history.  A New York federal jury convicted him of all seven counts he faced. The verdict capped the stunning … Read more

Jurors in Sam Bankman-Fried Trial Expected to Begin Deliberations

Jurors are expected to begin deliberating Thursday on whether FTX founder Sam Bankman-Fried is guilty of fraud and other crimes that contributed to the collapse of the crypto exchange. The deliberations cap a nearly monthlong trial in which jurors heard testimony from more than 20 witnesses, including Bankman-Fried. On Thursday morning, a prosecutor is expected … Read more

SEC Retreats From High-Stakes Lawsuit Over XRP Cryptocurrency

Updated Oct. 19, 2023 7:11 pm ET WASHINGTON—The Securities and Exchange Commission on Thursday said it would drop its lawsuit against two cryptocurrency executives who oversaw $1.5 billion in sales of a digital coin known as XRP, in a move that boosts the industry’s battle against traditional regulation. The dismissal of civil claims against Brad … Read more

Caroline Ellison Tells Jury She Dreaded Inevitable Collapse of FTX

Testifying in Sam Bankman-Fried’s fraud trial, his top deputy says she was terrified by the implosion of the crypto exchange after months of deception. Source link

Is Bitcoin an Inflation Hedge? Here Are the Arguments on Both Sides

Two experts make their cases on whether bitcoin is protected from inflationary pressures, or is more of a speculative investment. Source link