‘You Can Do Nothing’: Crypto Trading Titans Are Yelling at Each Other on Elon Musk’s X


It’s all just words, of course, but the public quarrel is a reminder of DWF’s sudden emergence earlier this year. The company quickly and loudly popped up as a backer of startups. But there was soon debate around whether it was really engaging in venture capital investing, as some thought, or something less long-term: acting like an over-the-counter trading desk, approaching projects with the offer of buying up its tokens, then trying to sell them for a profit.

Sam Bankman-Fried’s Dad Thought His Son Wasn’t Paying Him Enough, So He Got Mom Involved


Bankman-Fried’s dad, Joe Bankman, was paid a $200,000 salary by FTX’s U.S. division, according to the filing from FTX’s bankruptcy estate, which just sued the parents. But that wasn’t enough, he said, telling an FTX executive in a Jan. 12, 2022, message that he was supposed to get $1 million annually starting the previous month, according to the filing.

Genesis Has Ceased All Crypto Trading Services: Spokesperson


“Genesis has decided to stop offering digital asset spot and derivatives trading through GGC International, Ltd. (GGCI),” the statement reads. “This decision was made voluntarily and for business reasons. With this termination of services from GGCI, Genesis no longer offers trading services through any of its business entities.”

Binance.US CEO Has Left, Crypto Exchange Cuts 1/3 of Workforce


“The actions we are taking today provide Binance.US with more than seven years of financial runway and enable us to continue to serve our customers while we operate as a crypto-only exchange,” the company said in a statement. “The SEC’s aggressive attempts to cripple our industry and the resulting impacts on our business have real world consequences for American jobs and innovation, and this is an unfortunate example of that.”

A New Crypto Scam Shows Perils of Elon Musk’s Twitter


Before Elon Musk bought Twitter and renamed it X, a blue checkmark – like the one emblazoned on @Grayscale_FND’s account – was a sign the account was verified, that some measure of thought and vetting had occurred before the account got that label. Now, it means the account owner can afford $8 a month, giving rise to a proliferation of crypto scams wielding blue-checked X accounts.

Coinbase Creates New Crypto Lending Service Geared Toward Large Investors


“With this service, institutions can choose to lend digital assets to Coinbase under standardized terms in a product that qualifies for a Regulation D exemption,” a Coinbase spokesperson said in a statement. “Coinbase is working to update the financial system that was built over 100 years ago, leveraging crypto to provide people with more economic freedom and opportunity. To advance this purpose, Coinbase is building the most trusted crypto products and services, and supporting other builders to bring 1 billion people into crypto.”

Ether Futures ETFs Are Poised for U.S. Approval, Bloomberg Reports


Several firms have applied to list these exchange-traded funds, which would hold derivatives contracts tied to ether – rather than ether itself. But they need the U.S. Securities and Exchange Commission’s blessing, something Bloomberg said might be imminent.

‘Good Luck’ Convincing a Jury: Cameron Winklevoss Rebuts DCG Court Filing


On Thursday, DCG argued that Gemini’s fraud accusations over the Gemini Earn service should be tossed out, asserting that DCG had “virtually nothing to do with” the program. In a Friday post on X, the social-media service formerly known as Twitter, Cameron Winklevoss said, “This is a direct admission that they did in fact have something to do with the Gemini Earn program. Lol.”

Bitcoin Whale Michael Saylor Might Buy a Lot More BTC


“We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin and working capital, and, subject to market conditions,” already issued bonds, according to MicroStrategy’s Tuesday filing.

Elon Musk’s Twitter, Crypto’s Town Square, Has Found a New CEO


Musk didn’t identify his replacement by name, but said she’ll start in about six weeks. The billionaire – who bought Twitter last year and, following a poll that suggested this, said he’d find someone else to serve as CEO – will shift into the executive chairman and chief technology officer roles at Twitter.

Gemini to Open a Crypto Derivatives Platform Outside the U.S.


The announcement coincides with increased scrutiny by U.S. regulators and lawmakers about the role of cryptocurrencies in the world’s biggest economy – a campaign that’s affected Gemini. In January, the company and Genesis (which, like CoinDesk, is owned by Digital Currency Group) were accused by the Securities and Exchange Commission of selling unregistered securities.

USDC Stablecoin and Crypto Market Go Haywire After Silicon Valley Bank Collapses


Crypto was born in the aftermath of – and, to some, in response to – the 2008 crisis. Satoshi Nakamoto’s Bitcoin paper debuted into a world where governments had just propped up the financial system by pouring money into it. Crypto lacks such a centralized authority. If SVB customers, including Circle and its USDC stablecoin, are forced to take a haircut on their money, the repercussions are unclear.