Tag: Bitcoin

business

As BlockFi files for bankruptcy, what to know about crypto protections

The BlockFi website on Nov. 17, 2022. Gabby Jones/Bloomberg via Getty Images Crypto firm BlockFi filed for bankruptcy Monday, the latest cryptocurrency domino to fall after the collapse of FTX two weeks ago threatened to destabilize companies in the broader crypto ecosystem. BlockFi offers a cryptocurrency trading exchange and interest-bearing custodial service for cryptocurrencies. The […]

technology

Crypto Contagion Is Spreading, Fast

To ensure Genesis wasn’t hamstrung by the loss, its parent company, Digital Currency Group (DCG), bailed it out. But in the aftermath, Genesis cut 20 percent of its workforce to reduce costs and Michael Moro, its long-time CEO, stepped down. Genesis again found itself on the wrong side of a collapse earlier this month; when FTX filed for […]

business

How Sam Bankman-Fried’s FTX-Alameda empire vanished overnight

Samuel Bankman-Fried’s poster in downtown San Francisco. MacKenzie Sigalos | CNBC The Kimchi Swap put Sam Bankman-Fried on the map. The year was 2017, and the ex-Jane Street Capital quant trader noticed something funny when he looked at the page on CoinMarketCap.com listing the price of bitcoin on exchanges around the world. Today, that price […]

technology

AAX has become the latest crypto platform to stop withdrawals

picture: Silas Stein (Getty Images) Hong Kong-based cryptocurrency exchange AAX suspended withdrawals on Sunday and claims it will attempt to resume trading within 7-10 days, according to a company press release. But we’ve certainly heard that before in the cryptocurrency world. AAX claims that the downtime was due to an “external partner” whose system was […]