Latest Cryptocurrency News

Cryptocurrency fraud scheme lands man 8 years in prison

Feb. 01, 2023 10:11 AM EST

BOSTON (AP) — The founder of a cryptocurrency and virtual payment services company who authorities say cheated dozens of investors out of about $7.5 million, which he used to buy a house, cars, jewelry, and other luxuries, has been sentenced to more than eight years in prison. ...

Wyoming crypto bank's Federal Reserve application denied

Jan. 27, 2023 19:07 PM EST

CHEYENNE, Wyo. (AP) — The Federal Reserve Board has denied a Wyoming cryptocurrency bank's application for Federal Reserve System membership, officials announced Friday, dealing a setback to the crypto industry's attempts to build acceptance in mainstream U.S. banking. Many in...

Crypto firms acted like banks, then collapsed like dominoes

Jan. 24, 2023 00:02 AM EST

NEW YORK (AP) — Over the past few years, a number of companies have attempted to act as the cryptocurrency equivalent of a bank, promising lucrative returns to customers who deposited their bitcoin or other digital assets. In a span of less than 12 months, nearly all of the...

Winklevoss twins, Genesis target of SEC crypto crackdown

Jan. 13, 2023 14:15 PM EST

NEW YORK (AP) — The Securities and Exchange Commission went after two prominent companies in the crypto community, alleging that Genesis Global Capital and the crypto exchange Gemini were selling unregistered securities through a popular program that was supposed to give high interest payments on...

Another round of Coinbase job cuts, 20% of workforce let go

Jan. 10, 2023 07:29 AM EST

NEW YORK (AP) — Cryptocurrency trading platform Coinbase is cutting approximately 20% of its workforce, or about 950 jobs, in a second round of layoffs in less than a year. The company cited adverse economic conditions and disruptions within cryptocurrency markets. ...

'The money is gone': Bahamas tries to turn page after FTX

Jan. 08, 2023 10:03 AM EST

NASSAU, Bahamas (AP) — Dressed in a canary blue suit on a warm December night, sweat dripping from his brow, Bishop Lawrence Rolle belts out the lyrics to his latest hit song for the hundreds of children and adults gathered to celebrate Christmas. “FTX!,” he sings, bent over...

NY sues over alleged fraud at failed crypto lender Celsius

Jan. 05, 2023 15:02 PM EST

NEW YORK (AP) — The former CEO of the failed cryptocurrency lending platform Celsius Network misled investors, leading them “down a path of financial ruin," New York Attorney General Letitia James said Thursday in a lawsuit against Alex Mashinsky that seeks to ban him from doing business in the...

Judge kept FTX execs' plea deals secret to get founder to US

Dec. 23, 2022 18:29 PM EST

NEW YORK (AP) — A judge kept secret that two of Sam Bankman-Fried’s closest associates had turned against him so the cryptocurrency entrepreneur wouldn’t get spooked and fight extradition from the Bahamas, according to court transcripts made public Friday. U.S. prosecutors in...

Wyoming bullishly courts crypto, even after collapse of FTX

Dec. 21, 2022 14:49 PM EST

CHEYENNE, Wyo. (AP) — Software engineer Jae Yang got a lot of questions from friends when he moved from Silicon Valley with plans to launch his cryptocurrency exchange not in the up-and-coming urban crypto hubs of Miami or Austin, Texas, but the windswept plains of southeastern Wyoming. ...

Cuban artists blocked from once-promising NFT trading sites

Dec. 20, 2022 15:51 PM EST

HAVANA (AP) — When everything seemed to be going wrong, Cuban multimedia artist Alejandro Pablo García Alarcón found a solution in what some might consider an unusual place: NFTs. Artists like him have been dealt multiple blows in recent years: The pandemic wreaked havoc on...