Tag: CEO

Turkey Investigates Former FTX CEO Sam Bankman-Fried for Fraud, Seizes Assets – Exchanges Bitcoin News

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The Turkish government has launched an investigation on the former chief executive of failed cryptocurrency exchange FTX, Sam Bankman-Fried. According to local media, the authorities in Ankara have also seized assets belonging to the founder of the troubled coin trading platform. Turkey’s Financial Intelligence Unit Initiates Another FTX-Related Probe Financial regulators in Turkey have started to investigate the founder and former CEO of cryptocurrency exchange FTX, Sam Bankman-Fried (SBF), for alleged fraud. The move follows the initiation in mid-November of a probe into the collapse of the company, which also…

Block Earner CEO calls for licensing clarity after being sued for crypto products

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The CEO of fintech firm Block Earner has lashed out over the “lack of clarity” in Australia’s financial licensing regime after his company was sued by the country’s financial services regulator for providing unlicensed crypto-based investment products. The Australian Securities and Investment Commission (ASIC) announced on Nov. 23 local time that it started civil legal proceedings against the company because it offered three crypto-linked fixed-yield earning products without an Australian Financial Services (AFS) license. ASIC stated that the products should have been licensed as they were “managed investment schemes” where…

Block.one and its CEO become largest Silvergate Capital shareholders

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Brendan Blumer, CEO of Block.one, which developed the EOSIO blockchain platform and EOS (EOS) coin, has purchased a stake in Silvergate Capital, the holding company for Silvergate Bank, a crypto-fiat gateway network designed for financial institutions, according to an SEC filing. That document, dated Nov. 23, listed Nov. 16 as the date of the transaction. The purchase of nearly 3 million shares represents 9.27% of Silvergate stock. Blumer purchased 571,351 shares personally, and Block.one purchased 2,363,186. According to CNN, this deal will make them Silvergate’s largest shareholder. @BrendanBlumer founder of…

Coinbase CEO Says Company Holds 2 Million Bitcoin, Reminds People Firm’s ‘Financials Are Public’ – Bitcoin News

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According to Coinbase CEO Brian Armstrong, as of Sept. 30, 2022, the company holds 2 million bitcoin worth $39.9 billion. The news Armstrong shared comes at a time when the general public is looking directly at exchange balances following FTX’s turbulent collapse. Coinbase Co-Founder Shares Company’s Q3 Shareholder Letter — Says as of Sept. 30, Firm Holds 2 Million Bitcoin Two days ago, Bitcoin.com News reported on Binance’s exchange reserves and at the time the trading platform had close to 600,000 bitcoin, according to cryptoquant.com metrics. As of Nov. 20,…

Binance CEO denies report firm met with Abu Dhabi investors for crypto recovery fund

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Changpeng Zhao, chief executive officer of crypto exchange Binance, has denied a report claiming he met with investors in Abu Dhabi in an effort to raise cash for the company’s crypto recovery fund. According to a Nov. 22 report from Bloomberg, CZ and others affiliated with Binance discussed raising cash for its proposed fund, aimed at helping projects with potential liquidity issues. Zhao and the Binance team reportedly met with potential backers associated with United Arab Emirates National Security Adviser Sheikh Tahnoon bin Zayed, while a Binance spokesperson said the…

Bankrupt Crypto Exchange FTX Exploring Sales of Subsidiaries, CEO Reveals – Featured Bitcoin News

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Bankrupt cryptocurrency exchange FTX is exploring sales, recapitalizations, and other strategic transactions with respect to its solvent subsidiaries. The firm’s new CEO has instructed the FTX team “to prioritize the preservation of franchise value as best we can in these difficult circumstances.” New FTX CEO Outlines Priorities Cryptocurrency exchange FTX and approximately 101 affiliated companies announced Saturday that they are “launching a strategic review of their global assets to begin to maximize recoverable value for stakeholders.” The review is part of their Chapter 11 bankruptcy process. The new FTX CEO,…

Binance’s Changpeng Zhao and Coinbase CEO Brian Armstrong Support Vitalik Buterin’s Idea for Crypto Exchanges

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CEOs from two of the biggest crypto firms in the world are giving a nod of approval to Ethereum (ETH) creator Vitalik Buterin’s idea for how exchanges can maintain transparency for their customers. After the collapse of FTX and the revelations that came with it, scrutiny over the reserve systems of crypto exchanges circulated, prompting several firms to publish their reserves to prove solvency. Buterin suggested a system where users can verify their personal balances through a Merkle Tree, protected with the privacy of a zk-SNARK (zero-knowledge succinct non-interactive argument…

CME Group’s CEO Called FTX’s Sam Bankman-Fried an ‘Absolute Fraud’ When They Met in March – Bitcoin News

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According to the CEO of CME Group, Terry Duffy, the executive met with former FTX CEO Sam Bankman-Fried (SBF) last March at a conference, and Duffy ended up calling the FTX frontman a “fraud.” When Duffy sat down with SBF, the former FTX executive said his end goal was to compete with CME Group. Last March CME Group’s Terry Duffy Called SBF a ‘Fraud’ and Says He Was the Only One Besides ICE to Call ‘BS on These Clowns’ Terry Duffy, the chief executive officer of CME Group, the world’s…