Tag: CEO

BlockFi CEO ignored risks from FTX and Alameda exposure, contributing to collapse: court filing

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Zac Prince, the CEO of bankrupt cryptocurrency lending firm BlockFi, allegedly disregarded recommendations from the company’s risk management team over lending assets to Alameda Research.  According to a July 14 filing with United States Bankruptcy Court for the District of New Jersey by the unsecured creditors’ committee, BlockFi’s risk management team reported on the “high risks” associated with lending assets to Alameda. Prince allegedly dismissed concerns from the team on BlockFi lending Alameda $217 million by August 2021. The team suggested there could be risks should the FTX Tokens (FTT) used to…

Crypto will transcend international currencies — BlackRock CEO

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BlackRock CEO Larry Fink has delivered fresh remarks supporting cryptocurrencies’ role in democratizing investing worldwide, pointing to growing interest among the company’s clients in digital assets. “More and more of our global investors are asking us about crypto,” Fink said during an interview with CNBC’s ‘Squawk on the Street’ on July 14. BlackRock is the world’s largest asset manager, with over $8 trillion in assets spanning all types of investment products. In Fink’s view, cryptocurrencies have a “differentiating value versus other asset classes” in helping diversify portfolios. “[…] It’s so international it’s…

Binance CEO reflects as exchange turns 6 — ‘It was never all smooth sailing’

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Binance CEO Changpeng Zhao wrote a letter addressing the exchange’s users, reflecting on past crypto winters and laying out key trends shaping up within the industry as the company celebrates its sixth anniversary.  Within the letter, Zhao highlighted some of the company’s challenges throughout its journey. The executive said that in January 2018, the firm saw new records for user registration. However, it was followed by a decline in the market. Despite this, the Binance executive noted that during this bear market, its team learned the importance of “prudent financial…

Circle CEO spells doom scenario for US dollar in warning to Congress

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Jeremy Allaire claimed the U.S. dollar is “under threat” and urged lawmakers to pass stablecoin regulation to “build trust” in a digital dollar. The United States dollar’s place as a global reserve currency will be under threat if Congress isn’t quick to regulate stablecoins, warns the CEO of Circle. On July 13, Jeremy Allaire appeared in a two-minute video by Circle, the issuer of USD Coin (USDC), targeted at lawmakers. It comes as bipartisan digital asset-specific legislation was reintroduced to Congress on July 12 which was originally tabled over a…

Former Celsius CEO arrested in New York, SEC files lawsuit

Alex Mashinsky, the former CEO of Celsius Network, a bankrupt crypto lender, has been arrested in New York, reports on July 13 show. The arrest follows an investigation into the collapse of the crypto firm in Q3 2022. Mashinsky will be arraigned on Friday, July 14. However, people aware of the arrest reveal that the former CEO has denied any wrongdoing. Following the arrest, the United States Securities and Exchange Commission (SEC) is also suing Celsius and the former CEO for allegedly providing false information to creditors and information and…

Former Celsius CEO Alex Mashinsky reportedly arrested

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The former CEO of now-bankrupt crypto lender Celsius, Alex Mashinsky, was reportedly arrested on the morning of July 13. The news broke minutes after the United States Securities and Exchange Commission filed a lawsuit against the crypto lender on the same day. The former CEO was reportedly arrested after a probe into the company’s collapse, reported Bloomberg, citing people familiar with the matter. The U.S. Department of Justice indicted Mashinsky on charges of fraud and intention to manipulate the market.  UPDATE: Per DOJ indictment, legal minds expect Alex Mashinsky to face a lengthy…

CFTC case against Digitex futures exchange and CEO results in $16M court order

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A United States federal court has ordered Digitex CEO Adam Todd to pay roughly $16 million in disgorgement and penalties related to a Commodity Futures Trading Commission (CFTC) case. In a June 12 announcement, the CFTC said a judge in the U.S. District Court for the Southern District of Florida issued a default judgment against Todd and Digitex LLC, Digitex Limited, Digitex Software Limited and Blockster Holdings Limited Corporation for failure to register with the CFTC and manipulating the price of the DGTX token. As part of the judgment, the…

Arkham CEO rebuts claims of ‘snitch-to-earn’ program, says it’s to find bad actors

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The chief of the startup blockchain intelligence platform Arkham has refuted claims by the crypto community that its new “Intel Exchange” is a “snitch-to-earn” or “dox-to-earn” system. On a July 11 Twitter Space, Arkham CEO Miguel Morel discussed the public relations debacle that has unfolded this week over its marketplace. Arkham’s Intel Exchange aimed to “deanonymize the blockchain” by rewarding users with a new token, ARKM, for revealing the identities behind otherwise anonymous blockchain addresses. It was launched on Binance Launchpad as a token sale this week. The platform rapidly…