Tag: CEO

Ripple CEO calls XRP ruling a win for crypto industry

Ripple CEO Brad Garlinghouse has shared his sentiments about a recent ruling that XRP is not a security. On July 13, Federal District judge Analisa Torres ruled that XRP, the native currency of the XRP Ledger (XRP), is not an unregistered security, except when used to raise funds from institutions. Garlinghouse shed light on the outcome of the XRP ruling, emphasizing the positive impact on Ripple and the crypto industry. In a July 14 interview on Bloomberg TV, Garlinghouse highlighted the SEC’s previous lawsuits against himself, Ripple co-founder Chris Larson, and the…

Former FTX CEO wants to exempt friends from security checks

Former FTX CEO Sam Bankman-Fried wants his close friends to visit him at his parents’ home without undergoing security checks.  On July 13 Bankman-Fried’s lawyers submitted a letter to New York District Court Judge Lewis Kaplan, seeking an exemption for court-approved visitors from the security measures mandated in his bail conditions. The current bail conditions mandate the presence of a security guard at the residence to screen visitors for electronic devices and the requirement for visitors to sign an electronic visitor log. However, Bankman-Fried’s legal team argued that only his…

Multichain halts operations following CEO arrest in China, lost access to servers

Multichain will be shutting down services as a result of the CEO “being taken away by the police” and the issues the team has faced afterwards. Multichain unable to access funds Multichain, a cross-chain protocol formerly known as Anyswap, took to Twitter on July 14 to reveal a rundown which began with the arrest of CEO Zhaojun by Chinese authorities on May 21, stating that the company has been unable to communicate with Zhaojun since his arrest.  1. On May 21, 2023, Multichain CEO Zhaojun was taken away by the…

Former Celsius CEO Mashinsky to be released on $40m bail

Alex Mashinsky, the former CEO of Celsius Network, is set to be released on bail following his arrest and fraud charges on Thursday, July 13. Mashinsky has agreed to a $40 million personal recognizance bond, which must be signed by his wife by Friday, July 14, and by another financially responsible individual before July 21, who is yet to be identified. A release based on promise Following his arrest, a U.S. district court judge granted Mashinsky bail. In the agreement, Mashinsky must surrender his travel documents to authorities and is…

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…