US Federal Reserve, Other Agencies Continue to Warn Banks About Crypto

“Given the significant risks highlighted by recent failures of several large crypto-asset companies, the agencies continue to take a careful and cautious approach related to current or proposed crypto-asset-related activities and exposures at each banking organization,” according to the statement from agencies that also included the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corp. (FDIC). Source

Sam Bankman-Fried enters not guilty plea for all counts in federal court

Former FTX chief executive officer Sam Bankman-Fried has pled not guilty to all charges he’s facing including wire fraud, securities fraud, and violations of campaign finance laws.  Multiple observers in the United States District Court in the Southern District of New York on Jan. 3 reported that Bankman-Fried’s attorneys had entered a not guilty plea on SBF’s behalf in his first court appearance since December. Bankman-Fried faces eight criminal counts which could result in 115 years in jail should he be convicted. Assistant U.S. Attorney Danielle Sassoon, one of the…

The biggest surprises in crypto of 2022

2022 saw the fall of many linchpin crypto and blockchain firms as the May market drawdown shook the industry. It caused many cryptocurrencies to lose value and many investors to pull their money from the market. Furthermore, the unprecedented knock-on effects of the meltdown exposed many blockchain and cryptocurrency firms that were ill-prepared for turbulent times. However, a collective of companies was able to resist negative market forces and grow amidst the turbulence. The crypto market as a whole continues to grow and has now reached 320 million users. As…

Solana Exec Says Platform Still Gaining New Users Despite FTX’s Collapse

Sam Bankman-Fried, the now disgraced founder of bankrupt FTX, was a vocal supporter of Solana, and according to a Solana blog post in November, FTX and Alameda Research, an affiliated trading firm that Bankman-Fried also owned, purchased more than $58 million worth of SOL tokens from the foundation and its sister company Solana Labs six months after the platform first live with a test network. Source

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Blockchain fintech GammaRey signs $320M merger agreement

According to an announcement on Jan.3, blockchain fintech firm GammaRey signed a merger agreement with financial e-commerce and consumer data analytics company GoLogiq. Both companies are based in the U.S., while GoLogiq focuses on customers in Southeast Asia.  As stipulated by the terms, GoLogiq will issue $320 million in common stock to acquire 100% of GammaRey’s outstanding shares. The transaction is anticipated to be completed within the next few weeks, subject to conditions. As told by the two parties, the merger aims to “focus on the high-growth market of wealth management…

The ‘godfather of crypto’ wants to create a privacy-focused CBDC: Here’s how

When it comes to the “crypto” part of cryptocurrencies, David Chaum’s work predates the crypto ecosystem. His efforts as a renowned cryptographer date back to 1989, long before Bitcoin (BTC) was a thing.  Chaum developed the protocols that act as the basis of DigiCash — the world’s first digital currency secured by cryptography. As the CEO of privacy-focused network developer Elixxir, David Chaum is working with the Swiss central bank to develop a central bank digital currency (CBDC) that could also attract the crypto ecosystem due to its privacy features.…