In an exclusive interview with Fortune, the Winklevoss twins said the regulatory morass in the U.S. contributed to their decision to launch the Gemini Foundation in Singapore:
https://fortune.com/crypto/2023/05/02/gemini-launches-offshore-crypto-derivatives-platform/
https://fortune.com/crypto/2023/05/02/gemini-launches-offshore-crypto-derivatives-platform/
Fortune Crypto
Gemini launches offshore derivatives platform as Winklevoss twins tire of U.S. crypto quagmire
“If lawmakers could come together and build a clear framework for crypto companies, it would be a huge boon for the U.S.,” Tyler Winklevoss told Fortune.
👍2
The collapse of FTX cut SOL's value in half. But the Solana ecosystem has soldiered on, and, according to cofounder Raj Gokal, it’s not looking back:
https://fortune.com/crypto/2023/05/03/solana-blockchain-transactions-rebound-cofounder-raj-gokal-says-ftx-troubles-in-rearview-mirror/
https://fortune.com/crypto/2023/05/03/solana-blockchain-transactions-rebound-cofounder-raj-gokal-says-ftx-troubles-in-rearview-mirror/
Fortune Crypto
Solana bounces back with NFTs as cofounder says FTX meltdown is ‘in the rearview mirror’
Gokal said unique projects like Mad Lads are part of what's attracting people to Solana.
Coinbase shares, which dropped 56% over the past year amid a dropoff in trading, surged 8% after hours to about $52 after a Thursday close at $49:
https://fortune.com/crypto/2023/05/04/coinbase-stock-jumps-8-after-exchange-reports-smaller-than-expected-loss-and-increase-in-subscription-revenue/
https://fortune.com/crypto/2023/05/04/coinbase-stock-jumps-8-after-exchange-reports-smaller-than-expected-loss-and-increase-in-subscription-revenue/
Fortune Crypto
Coinbase stock jumps 8% after the crypto exchange reports smaller than expected loss and an increase in subscription revenue
The company’s stock plummeted more than 50% over the past year amid a crypto downturn.
Shaquille O’Neal is calling foul on the lawyers who chased him for months to serve a lawsuit accusing the basketball legend of duping investors in FTX crypto exchange:
https://fortune.com/2023/05/09/shaq-dodging-lawyers-serve-ftx-fraud-lawsuit-throwing-at-car-sending-instagram/
https://fortune.com/2023/05/09/shaq-dodging-lawyers-serve-ftx-fraud-lawsuit-throwing-at-car-sending-instagram/
Fortune
Shaq has so far dodged lawyers who’ve tried to serve him an FTX lawsuit
By throwing them at his car and sending them to him on Instagram.
“For the first time, financial institutions can realize the full benefits of a global blockchain network while operating within the regulatory guardrails:"
https://fortune.com/crypto/2023/05/09/deloitte-goldman-sachs-microsoft-among-institutional-players-partnering-on-new-blockchain-network/
https://fortune.com/crypto/2023/05/09/deloitte-goldman-sachs-microsoft-among-institutional-players-partnering-on-new-blockchain-network/
Scoop: Letitia James, the NY Attorney General, debuted a crypto bill to much fanfare last week.
It has sparked a behind-the-scenes rift with the state's other powerful crypto regulator, the Department of Financial Services. Lots of details here:
https://fortune.com/crypto/2023/05/11/new-york-crypto-bill-exposes-rifts-key-regulators/
It has sparked a behind-the-scenes rift with the state's other powerful crypto regulator, the Department of Financial Services. Lots of details here:
https://fortune.com/crypto/2023/05/11/new-york-crypto-bill-exposes-rifts-key-regulators/
Fortune Crypto
New York crypto bill exposes rifts among key regulators
The financial capital of the world is debating the future of digital asset oversight.
👍3
Do Kwon is now facing up to five years in prison in Montenegro:
https://fortune.com/crypto/2023/05/11/disgraced-terra-cofounder-do-kwon-pleads-not-guilty-after-hes-arrested-in-montenegro-holding-3-different-passports/
https://fortune.com/crypto/2023/05/11/disgraced-terra-cofounder-do-kwon-pleads-not-guilty-after-hes-arrested-in-montenegro-holding-3-different-passports/
Fortune Crypto
Disgraced Terra cofounder Do Kwon pleads not guilty after he's arrested in Montenegro holding 3 different passports
Montenegrin authorities stopped him at the airport in March with Costa Rican and Belgian travel documents.
❤1
Past backers of Worldcoin are a16z crypto, the venture arm of Coinbase, Khosla Ventures, and Sam Bankman-Fried:
https://fortune.com/crypto/2023/05/15/openai-sam-altman-100-million-worldcoin-funding-iris-human-artificial-intelligence/
https://fortune.com/crypto/2023/05/15/openai-sam-altman-100-million-worldcoin-funding-iris-human-artificial-intelligence/
Fortune
OpenAI’s Sam Altman approaches $100 million in funding for Worldcoin, the crypto project that scans your irises to prove you’re…
Worldcoin plans to publicly launch out of beta in the first half of 2023.
👍4
Axie Infinity rose to prominence as an NFT-enabled game that, at its peak, garnered millions of users, but in a mobile version released Wednesday, players don’t have to buy NFTs:
https://fortune.com/crypto/2023/05/17/web3-game-axie-infinity-releases-nft-optional-mobile-game/
https://fortune.com/crypto/2023/05/17/web3-game-axie-infinity-releases-nft-optional-mobile-game/
Fortune Crypto
'Axie Infinity' creator Sky Mavis releases new mobile app where buying NFTs isn't required
The game has been released in select countries in Latin America and Asia.
👍1
“Coin Cafe defrauded hundreds of New Yorkers out of thousands of dollars with its deceptive marketing and due to a lack of effective regulation,” said New York Attorney General Letitia James:
https://fortune.com/crypto/2023/05/18/brooklyn-coin-cafe-defrauded-investors-new-york-attorney-generals-office/
https://fortune.com/crypto/2023/05/18/brooklyn-coin-cafe-defrauded-investors-new-york-attorney-generals-office/
Fortune Crypto
Brooklyn-based Coin Cafe ordered to return $4.3 million to 'defrauded' crypto investors by New York New York attorney general
The move comes two weeks after the office proposed sweeping crypto legislation for New York State.
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"Here, you have the combination of a legendary athlete, a case involving an explosive failure in the crypto world, and a hunt that kept making headlines. So it’s one for the ages."
https://fortune.com/2023/05/17/crypto-lawsuits-shaq-celebrity-endorsers-ftx/
https://fortune.com/2023/05/17/crypto-lawsuits-shaq-celebrity-endorsers-ftx/
Fortune
Shaq’s been on TV nonstop during the NBA playoffs—but here’s the strange tale of how he avoided FTX crypto class action papers…
The chase was part of a much publicized, multi-billion dollar class action suit brought against eleven celebrities who’d famously promoted the bankrupt crypto exchange FTX.
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After the fall of the cryptocurrency exchange FTX and the trading firm she ran, the 28-year-old became a public villain:
https://fortune.com/longform/caroline-ellison-alameda-ftx-sam-bankman-fried/
https://fortune.com/longform/caroline-ellison-alameda-ftx-sam-bankman-fried/
Fortune
Caroline Ellison: How a young math whiz with an appetite for risk became a major player in Sam Bankman-Fried’s corrupt crypto empire
After the fall of the cryptocurrency exchange FTX and the trading firm she ran, the 28-year-old became a public villain.
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SBF considered shutting down Alameda weeks before FTX bankruptcy. He had 14 billion reasons why he couldn’t, cofounder says:
https://fortune.com/crypto/2023/10/06/sam-bankman-fried-alameda-research-gary-wang-ftx-criminal-tria/
https://fortune.com/crypto/2023/10/06/sam-bankman-fried-alameda-research-gary-wang-ftx-criminal-tria/
Fortune Crypto
Sam Bankman-Fried wanted to shut down trading firm Alameda weeks before FTX bankruptcy, says co-founder Gary Wang
FTX cofounder and childhood friend Gary Wang took the stand and admitted to the crypto empire’s crimes.
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As we enter into the second week of FTX founder Sam Bankman-Fried’s criminal trial, let’s rehash what went down last week:
https://fortune.com/2023/10/09/sam-bankman-fried-trial-week-one/
https://fortune.com/2023/10/09/sam-bankman-fried-trial-week-one/
Fortune
Everything we learned from week 1 of Sam Bankman-Fried’s trial
Cofounder Gary Wang and venture capitalist Matt Huang have already taken the stand.
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With the prospect of a decades-long prison sentence hanging over his head, former FTX CEO Sam Bankman-Fried has a critical decision to make: Should he testify in his own defense at his fraud trial that is currently underway in a Manhattan courtroom?
https://fortune.com/crypto/2023/10/10/sam-bankman-fried-ftx-trial-testify-legal-experts-discuss/
https://fortune.com/crypto/2023/10/10/sam-bankman-fried-ftx-trial-testify-legal-experts-discuss/
Fortune Crypto
Will Sam Bankman-Fried take the stand? Legal experts on the pros and cons
The former FTX CEO could use his testimony to solicit empathy from the jury, but it would also leave him open to cross-examination by prosecutors.
In today's #FortuneCrypto newsletter:
https://fortune.com/crypto/2023/10/10/sam-bankman-fried-ex-girlfriend-caroline-ellison-trial-testimony/
https://fortune.com/crypto/2023/10/10/sam-bankman-fried-ex-girlfriend-caroline-ellison-trial-testimony/
Fortune Crypto
Sam Bankman-Fried’s friends sang like canaries—now comes his ex-girlfriend Caroline Ellison
The jury will likely hear about alleged corporate fraud—and Caroline’s unhappy relationship with Sam.
FTX cofounder Gary Wang personally signed for hundreds of millions of dollars in loans when he was CTO at FTX.
Why?
He couldn’t “recall,” he said during his third day of testimony in SBF's trial:
https://fortune.com/crypto/2023/10/10/ftx-cofounder-gary-wang-alameda-research-sam-bankman-fried-hundreds-of-millions-loans
Why?
He couldn’t “recall,” he said during his third day of testimony in SBF's trial:
https://fortune.com/crypto/2023/10/10/ftx-cofounder-gary-wang-alameda-research-sam-bankman-fried-hundreds-of-millions-loans
Fortune Crypto
FTX cofounder Gary Wang says he took out $200 million to $300 million in loans from Alameda Research for investments he couldn’t…
Interest payments for the loans became so cumbersome that Wang took out a loan just to pay for them.
Caroline Ellison, FTX's hedge fund chief and ex-girlfriend of SBF, testified that he directed her to commit crimes—and thought he might be US president someday:
https://fortune.com/crypto/2023/10/11/ftx-founder-sam-bankman-fried-hedge-fund-chief-ex-girlfriend-caroline-ellison-us-president/
https://fortune.com/crypto/2023/10/11/ftx-founder-sam-bankman-fried-hedge-fund-chief-ex-girlfriend-caroline-ellison-us-president/
Fortune Crypto
FTX founder Sam Bankman-Fried’s former hedge fund chief (and ex-girlfriend) Caroline Ellison says he hoped to be U.S. president…
Repeatedly, Ellison made clear that Bankman-Fried was behind the biggest financial moves in his companies, to the point that bitcoins he created were sometimes called “Sam's coins.”
“I felt a sense of relief that I didn’t need to lie anymore.”
Near the end of her second day on the witness stand, Caroline Ellison, the former CEO of the crypto hedge fund Alameda Research, broke down:
https://fortune.com/crypto/2023/10/11/caroline-ellison-utilitarianism-saudi-arabia-mbs-thai-prostitutes-tears-sam-bankman-fried-ftx-sbf/
Near the end of her second day on the witness stand, Caroline Ellison, the former CEO of the crypto hedge fund Alameda Research, broke down:
https://fortune.com/crypto/2023/10/11/caroline-ellison-utilitarianism-saudi-arabia-mbs-thai-prostitutes-tears-sam-bankman-fried-ftx-sbf/
Fortune Crypto
Caroline Ellison’s latest testimony included utilitarianism, Saudi money, Thai prostitutes, and ended in tears: ‘The worst week…
“Rules like ‘don’t lie’ or ‘don’t steal’ didn’t fit in that framework,” the former Alameda CEO said of Sam Bankman-Fried’s utilitarianism.
Sam Bankman-Fried has usually kept quiet as a victim, a former investor, and two of his best friends took to the witness stand to testify against him.
However, Caroline Ellison—Bankman-Fried’s on-again off-again girlfriend—allegedly provoked the most emotional reaction from him on Wednesday afternoon:
https://fortune.com/crypto/2023/10/12/sam-bankman-fried-laughed-scoffed-caroline-ellison-testimony/
However, Caroline Ellison—Bankman-Fried’s on-again off-again girlfriend—allegedly provoked the most emotional reaction from him on Wednesday afternoon:
https://fortune.com/crypto/2023/10/12/sam-bankman-fried-laughed-scoffed-caroline-ellison-testimony/
Fortune Crypto
Sam Bankman-Fried laughed, scoffed, and visibly shook his head during Caroline Ellison’s second-day testimony, prosecutor tells…
The FTX founder’s alleged behavior stands in contrast to how he’s previously reacted to other witnesses.
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New York Attorney General Letitia James is suing the Winklevoss twin-led exchange Gemini along with Genesis and Digital Currency Group for defrauding investors out of more than $1 billion:
https://fortune.com/crypto/2023/10/19/gemini-genesis-dcg-lawsuit-new-york-attorney-general-winklevoss-silbert/
https://fortune.com/crypto/2023/10/19/gemini-genesis-dcg-lawsuit-new-york-attorney-general-winklevoss-silbert/
Fortune Crypto
New York attorney general hits Gemini, Genesis, and Digital Currency Group with lawsuit for defrauding investors of more than $1…
Letitia James’s action adds to the legal headaches for the reeling crypto heavyweights.