A separate 2021 wallet bungle by the crypto custodian, taken into receivership in July, cost it $76 million, the CEO said in a court filing. Source
Prime Trust Lost $8M in Doomed Terra Stablecoin Investment, CEO Says
Tag: CEO
Is the SEC a bad cop? CoinRoutes CEO Dave Weisberger breaks down crypto regulation in the US
On Episode 27 of Hashing It Out, CoinRoutes CEO Dave Weisberger joins host Elisha Owusu Akyaw (also known as GhCryptoGuy) to discuss the current state of cryptocurrency regulation in the United States. Weisberger explains how the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) approach regulations and what they mean for the fast-evolving cryptocurrency space. Weisberger addresses the state of regulation at the start of the podcast. According to him, the problem in the United States stems from a lack of clear regulations and rules, leading…
Pantera CEO Calls Ripple Victory A Black Swan, But Is It Bad?
A recent release suggests that Pantera CEO Dan Morehead may have predicted the impact of a Ripple victory long before it occurred. Ripple Victory: A “Positive Black Swan” Speaking at the Bloomberg Invest Panel, held back in June, Morehead was quizzed about what “black swans” the world should expect next, considering that we had just recently experienced a pandemic, complete shutdown, and financial crisis due to the pandemic. Morehead responded and stated that we already had the “massive shoes drop last year,” most likely in reference to the events surrounding…
Nvidia CEO bullish as Q2 revenue tops estimates
Shares of computer chip manufacturer Nvidia soared nearly 10% in after-hours trading as surging demand for AI chips saw the firm post Q2 earnings that significantly beat Wall Street estimates. In its Q2 earnings report, the company posted a whopping $13.5 billion in revenue for the quarter — an 88% increase from Q1. The revenue figure came in at over $2 billion more than the $11.2 billion that analysts had predicted for the company. Additionally, Nvidia reported $2.48 earnings per share (EPS), which surpassed consensus analyst estimates of $2.08, according…
Firms have mere hours to deflect cyber attacks, warns cybersecurity CEO
Palo Alto Networks CEO Nikesh Arora has urged companies to modernize their cybersecurity systems, cautioning that bad actors have become much faster at breaching company defenses than ever before. Speaking to Jim Cramer on CNBC’s “Mad Money” on Aug. 21, the cybersecurity firm CEO said that companies with outdated security systems need to take particular heed, as cybercriminals are only getting faster. “It’s important for us to make sure we’re ready to deflect the stuff in hours, not in days,” Arora explained. He stressed that outdated cybersecurity solutions need modernizing,…
Crypto miner Hive Digital CEO sees AI working in unison with blockchain
Crypto mining firm Hive Blockchain sent a signal to the tech industry when it dropped “blockchain” from its namesake in July, opting to call itself Hive Digital Technologies and reflect its artificial intelligence foray. The decision is part of a wider movement from crypto miners to pivot outside of digital currency mining, amid depressed crypto prices. January saw crypto mining firm Riot Blockchain rebrand to Riot Platforms while June saw crypto miner Applied Digital announce a $460 million deal to host AI cloud computing in its data center. Since ETH mining ended…
On-chain tool to seize crypto is a purist’s nightmare, but a must, says CEO
The founder of layer-1 blockchain Jurat has defended his protocol against potential haters, arguing that on-chain legal enforcement is a necessary trade-off for crypto mass adoption. On Aug. 8, a U.S. District Court used Jurat’s on-chain enforcement tool to lock several sanctioned individuals out of their crypto accounts. These individuals were sanctioned for money laundering and using ransomware to extort cryptocurrency payments to benefit North Korea’s weapons program. A court just entered final judgment in a federal lawsuit and the court used @JuratNetwork to enforce its order on-chain! The judge…
Fuse CEO Mark Smargon says blockchain payments apps will rival Visa, not Ethereum
Episode 16 of Hashing It Out explores one of the most popular cryptocurrency use cases: payments. Mark Smargon, CEO of Fuse, joins host Elisha Owusu Akyaw to discuss various Web3 payment solutions and how Fuse contributes to businesses’ adoption of cryptocurrency payments. Smargon explained that the payment network’s strategy involves looking beyond investments to focus on everyday use cases like payments, which will likely bring more sustainable adoption. Despite the goal, Smargon recounted the difficulty in convincing people and investors that businesses would adopt blockchain payments when starting Fuse in…
Canada’s regulatory clarity is bringing institutions to crypto — WonderFi CEO
Canadian financial institutions are increasingly taking an interest in crypto as regulatory clarity emerges in the country, according to WonderFi CEO Dean Skurka, who met up with Cointelegraph at the Blockchain Futurist Conference in Toronto. Skurka claimed that his exchange had seen an uptick in trading by institutions as opposed to retail investors. “What we have seen in the first half of this year is growth in our OTC institutional segment,” he stated, referring to over-the-counter trades. “These institutional investors, more sophisticated investors, are [more] immune to sentiment and trends…
Silvergate CEO to depart amid ongoing liquidation and investor suits
Silvergate CEO Alan Lane and two other key executives are set to depart from their positions amid a wind-down of the once crypto-friendly bank. Lane and the firm’s chief legal officer John Bonino will depart on Aug. 15, while Antonio Martino, chief financial officer of the company, will depart on Sept. 30. In an Aug. 15 filing to the Securities and Exchange Commission, the bank’s parent company Silvergate Capital said the departures are part of its previously disclosed plan to wind down operations and voluntarily liquidate Silvergate Bank. A story…