Ripple CEO Brad Garlinghouse expects the firm’s long-running dispute with the Securities Exchange Commission (SEC) will be finalized within “single-digit months” and remains confident in securing a favorable outcome. Speaking to CNBC on Jan. 18 at the World Economic Forum in Davos, Switzerland, Garlinghouse said the verdict could come as soon as June this year now that both parties have…
The CEO of crypto exchange FTX has rejected calls for its law firm Sullivan & Cromwell to be replaced as lead counsel in its bankruptcy case. John J. Ray III, who was appointed as the new FTX CEO on Nov. 11, filed a court motion on Jan. 17, arguing that Sullivan & Cromwell has been integral in taking control over…
While the second-largest crypto asset by market capitalization, ethereum, has risen 27% against the U.S. dollar in the last two weeks, the network’s average and median-sized gas fees have increased by more than 50%. On the first day of 2023, the average fee to spend ether was around $2.93 per transfer, but today the average cost is 54% higher at…
ConsenSys, the parent company behind MetaMask, is letting go of 11% of its workforce, with CEO Joseph Lubin blaming “uncertain market conditions” brought on by recent collapses. In a blog post from ConsenSys CEO Joseph Lubin on Jan. 18, the blockchain firm CEO said “poorly behaved” centralized finance (CeFi) actors have cast a “broad pall on our ecosystem that we…
Cryptocurrency exchange Bitzlato, better known to the Russian-speaking segment of the market, has been taken down as part of an “international cryptocurrency enforcement action,” the U.S. Justice Department announced. The Russian owner of the platform has been arrested for his role in the alleged transmission of illicit money. Bitzlato claimed it was hacked. US, France Hit Cryptocurrency Exchange Bitzlato, Russian…
To say dog-themed cryptocurrencies are popular is a bit of an understatement—in terms of just how prevalent they’ve become ever since Tesla founder Elon Musk first tweeted about Dogecoin in 2019. The now-owner of Twitter famously said, “Dogecoin might be my fav cryptocurrency.” Years later, hundreds of dog-themed tokens are now vying for similar attention. As one Reddit user recently…
The Egyptian central bank recently claimed that its decision to devalue the local currency has been vindicated by foreign investors’ return to the country’s foreign market where they reportedly poured in $925 million in just three days. The surge in the sales of Egyptian treasury bills that mature in a year or less similarly is said to vindicate the central…
Law firm Sullivan & Cromwell have contradicted themselves when they claim that shuttered crypto exchange FTX.US is insolvent, according to former CEO Sam Bankman-Fried (also known as “SBF”) in a January 17 blog post that was shared on Twitter. FTX US is solvent, as it always as been.https://t.co/XjcyYFsoU0 pic.twitter.com/kn9Wm9wxjl — SBF (@SBF_FTX) January 18, 2023 The law firm was hired…
The Digital Dollar Project (DDP) released a new version of its white paper “Exploring a U.S. CBDC” on Jan. 18. The project expanded the paper in order to examine central bank digital currency projects internationally, though its focus is still on the United States. The DDP introduced its “champion model” of an intermediated wholesale and retail CBDC in the first version of the…
Sam Bankman-Fried (SBF), former CEO of the FTX crypto exchange, used his influence in the crypto industry to inflate some coins prices through a coordinated strategy with FTX’s sister company, Alameda Research, a New York Times report claimed on Jan. 18. As a way to keep FTX and the companies under its umbrella profitable, Bankman-Fried allegedly approached developers behind projects,…
