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  Crypto Giant Coinbase Shakes Up Its Advisory Board, Adds Trump Campaign Manager

  Four new members are joining Coinbase’s advisory council to lend their expertise in finance and politics, the crypto exchange said Wednesday—including the co-manager of President Trump's latest winning campaign. William Dudley, a former president of the Federal Reserve Bank of New York, and Chris LaCivita, a political consultant and co-manager of Trump’s 2024 campaign, are joining Coinbase’s global advisory council, the company said in a press release. Kyrsten Sinema, a former Democratic Arizon...

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  Why a Giant Inflatable Bitcoin Rat Now Stands at the Birthplace of the Fed

  The richest men in American history once basked in the quiet luxury of the Jekyll Island Club off the coast of Georgia. But on Wednesday morning, a vista of shady oak trees and meticulously preserved architecture from the 19th century was disturbed by a seven-foot-tall inflatable rat. Situated on a balcony at Sans Souci Cottage, a building partly owned by J.P. Morgan, the pale rodent bore the markings of Satoshi Nakamoto. Lines of code written by Bitcoin’s pseudonymous creator covered its skin,...

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  What Is Fractal? What You Need to Know About the Buzzy Bitcoin Scaler

  A hot and highly anticipated Bitcoin scaling network went live this week, although its code is almost indistinguishable from Bitcoin’s own layer-1 blockchain. What gives? On Sunday, Fractal Bitcoin announced the mainnet launch of its Bitcoin sidechain network. As a tribute, Fractal included in its genesis block the same message embedded in Bitcoin’s first block concerning bank bailouts—attributed to pseudonymous creator Satoshi Nakamoto. Despite a rocky start concerning some of its block mining...

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   SBF Trial

  Guilty: Sam Bankman-Fried Convicted of FTX Fraud

  A jury of nine women and three men found FTX founder Sam Bankman-Fried guilty of seven fraud and conspiracy charges on Thursday in the former crypto mogul’s high-profile criminal case. Although the jury delivered its verdict today, it could be some time before U.S. District Judge Lewis Kaplan determines Bankman-Fried’s sentence. He faces a maximum sentence of 115 years in prison. "We respect the jury’s decision. But we are very disappointed with the result," Bankman-Fried's defense attorney Mark...

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  Is Binance Too Big to Fail?

  Binance, the largest cryptocurrency exchange in the world, faces a potential existential crisis, with a growing number of financial regulators scrutinizing the industry's biggest player. So what would happen to crypto if were Binance to fall? The crypto industry is no stranger to death knells. In 2014, when Bitcoin was a baby, Mt. Gox put it to the test when it got hacked. The industry survived and adopted “not your keys not your coins” as its credo. Bugs have come and gone. There have been a no...

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  Silicon Valley Bank Bailout Ruled Out By Treasury Secretary Janet Yellen

  Treasury Secretary Janet Yellen said Sunday that the federal government is not considering a bailout for Silicon Valley Bank, but is focused on addressing the needs of the failed bank’s depositors. During an interview CBS’ “Face the Nation,” Yellen drew a distinction between how the current situation surrounding Silicon Valley Bank would be handled compared to the global financial crisis that led to historic bank bailouts 15 years ago. “​​We're not going to do that again,” Yellen said in referen...

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  Scaramucci Recalls 'Betrayal' by SBF: 'I Considered Him a Friend'

  Anthony Scaramucci detailed his close relationship with former FTX CEO Sam Bankman-Fried, his family, and how he felt after the extent of the FTX collapse came to light during a panel discussion at the World Economic Forum in Davos. "I had a close relationship with [Sam Bankman-Fried], I considered him a friend," Scaramucci said during Casper Labs’ Blockchain Hub event. "So I have to tell you that the betrayal and fraud—it's bad on a lot of different levels. It certainly hurt me reputationally."...

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  Santa's Crypto ‘Nice’ List 2022

  The cryptocurrency industry experienced the tail end of a bull run and the start of a brutal bear market this year, and some firms struggled while others prospered. Two major collapses—that of Terra and FTX—had a significant impact on the price action of the largest cryptocurrencies by market cap and sent shockwaves across the industry.  While some major figures made decisions or statements that put them on the naughty list, others remained focused on their respective missions and continued to b...

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  The Biggest Story in Crypto in 2022: Contagion—From Terra to FTX

  There’s hardly a project, protocol, or institution that hasn’t felt the sting of contagion in 2022. The lucky ones are ending the year having had to downsize their workforce to weather what seems to be an increasingly severe crypto bull market. The unlucky ones—and there have been many—are facing liquidation, lawsuits, and jail time. The contagion—or tendency for a financial crisis to spread to other institutions, markets, or regions—has been unforgiving and widespread. Crypto market capitaliza...

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  Binance Launches $1 Billion Raise for Crypto 'Recovery Fund', Could Buy FTX Assets

  Binance’s founder and CEO said the firm’s crypto rescue fund will initially have $1 billion to dole out as it steps into the role of industry white knight. In an interview with Bloomberg, Changpeng "CZ" Zhao said the fund would have a “loose” structure and be publicly visible on the blockchain, with other industry players also able to contribute. “The industry needs saving now, not in 2023,” he said. A blog post outlining the launch also suggested that the fund could grow to as much as $2 billio...

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