As the winter of our discontent with cryptocurrencies continues, it’s clear that changes have to be made and that the next crypto spring will either not happen at all or it will be a radical rejection of the Wild West status quo. One path is an outright ban. Some like Charlie Munger, the vice chairman… Read More >>
Did Genesis Global Capital & Gemini Trust Break the Law?
Crypto has faced some tough times lately, though the kids who are among its most fervent boosters keep insisting that the value of their shiny coins will rebound in 2023. Like, for sure. Faster than you can say Winklevoss! Good times for us and the brothers must be right around the corner, right? Well, it… Read More >>
800 BitConnect Victims to Share $17M in Restitution
About 800 victims of the BitConnect cryptocurrency investment scheme will be getting some of their money back, which may serve as a ray of hope for other crypto-fraud victims left in the cold of a crypto winter full of scandal. But it will be a thin ray as the BitConnect Ponzi scheme claimed 4,154 victims… Read More >>
Coinbase Pays $50M Penalty for Alleged Compliance Failures
Another day, another crypto failure? Seems that way, doesn’t it? Consider Coinbase, a cryptocurrency exchange. Coinbase, Inc. has agreed to pay a $50 million penalty and shell out another $50 million to bulk up its compliance program. The alleged compliance failures at Coinbase Inc. were wide-ranging and longstanding — so says the New York Department… Read More >>
The Fed Issues a Crypto Warning & Other News
The Fed, FDIC & OCC Want More Crypto Controls Key U.S. regulatory agencies for financial services are creating processes that will require banking organizations to “engage in robust supervisory discussions” about proposed and current crypto-asset-related activities, according to a recently issued joint statement on risky crypto-assets. “By ‘crypto-asset,’ the agencies refer generally to any digital… Read More >>
Reporter’s Notebook: Is SBF a Gen X Madoff?
Is Sam Bankman-Fried (a.k.a. SBF) the Gen X Bernie Madoff? Or maybe he’s the Hairball-Grinch who stole Christmas? Of course, we won’t know for sure that he’s allegedly a con artist and a crook of epic proportions until he’s had his day in court. Maybe he’s just a kid who believed his own hype and… Read More >>
MSCI Platform Uses Microsoft Azure & Other News
MSCI Offers Integrated Access to Its Wares MSCI, a provider of indexes and other decision support services, has launched an open architecture technology platform, dubbed MSCI ONE, that uses the Microsoft Azure cloud platform to create integrated access to “MSCI’s portfolio of products and solutions,” officials say. MSCI ONE includes “capabilities in quantitative investment… Read More >>
Time to Pause the Crypto Craziness?
To say the least, the FTX fiasco is a wake-up call. To recap, FTX founder Samuel Bankman-Fried is in a little trouble with the U.S. Justice Department, the SEC, the CFTC, and authorities of the Royal Bahamas government for his now-bankrupt crypto-currency exchange FTX and all its branches. As of Tuesday, Dec. 13, during Bankman-Fried’s… Read More >>
Investors Have High Hopes for Crypto Care & Other News
New Report Focuses on Digital Custody Needs of Investors Investors prefer an “institutional-grade infrastructure” for their crypto and other digital assets but securities firms will need time before they can provide that level of support, according to a new report from research firm Coalition Greenwich Market. The report, “Providing Digital Asset Services: An Institutional Infrastructure… Read More >>
FSB Pushes Global Regulatory Framework for Crypto
The Financial Stability Board (FSB) has published a proposed framework for the international regulation of crypto-asset activities. Elements of the FSB’s proposed framework include “recommendations that promote the consistency and comprehensiveness of regulatory, supervisory and oversight approaches to crypto-asset activities and markets and strengthen international cooperation, coordination and information sharing; and revised high-level recommendations for… Read More >>
