Category: collapse

NYDFS Releases Guidance on Importance of Segregation and Separate Accounting for Customer Funds in Crypto Industry

On Monday, the New York Department of Financial Services (NYDFS) published guidance on custodial structures to help protect customers’ money if a crypto firm goes bankrupt. New York’s top financial…

Dollar Loses to Digital Currencies in 2023, Former Russian President Medvedev Says

Digital fiat currencies will spread next year while the U.S. dollar will be losing its status of global reserve currency, according to Russia’s former head of state. In a string…

Amid Withdrawals, Binance CEO Warns of Bumpy Months Ahead

Binance founder Changpeng Zhao (CZ) has reportedly told staff to expect some difficult months as the leading cryptocurrency exchange is seeing customer withdrawals. The warning comes while the crypto industry…

Research Shows Centralized Exchanges Saw the Most Visits This Year From Americans, Koreans, Russians

Residents of the United States, South Korea and the Russian Federation have been the most frequent users of centralized exchanges this year, according to a new study. The finding comes…

Turkey Investigates Former FTX CEO Sam Bankman-Fried for Fraud, Seizes Assets

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…

Bankruptcy Lawyers Say FTX Was Operated by ‘Inexperienced and Unsophisticated Individuals’

On Tuesday, the attorneys representing FTX told the court that a “substantial amount of assets have either been stolen or are missing” and further stressed to the bankruptcy court that…