4 / 4 Relevant items tagged with #NewYork

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NY AG files lawsuit against Alex Mashinsky, alleging he hid Celsius’ 'dire financial condition'

[Jan 5, 2023 9:47 AM] Alex Mashinsky’s actions leading up to Celsius declaring bankruptcy allegedly contributed to investor losses by misrepresenting the platform’s financial condition to investors.

Coinbase reaches $100M settlement with NY regulators

[Jan 4, 2023 9:15 AM] Regulators stated that the company had a backlog of 100,000 alerts about potential suspicious customer transactions.

FTX paid $12M retainer to a New York law firm before bankruptcy filing

[Dec 24, 2022 4:32 AM] Sullivan & Cromwell LLP (S&C), a law firm headquartered in New York City, received $12 million from West Realm Shires Services Inc. on behalf of FTX for legal services.

Judge pulls out of SBF-FTX case citing husband's law firm's advisory link

[Dec 23, 2022 11:13 PM] Judge Abrams’ withdrawal from the FTX case eradicates any conflict of interest in the FTX case because Andres continues to serve as a partner at Davis Polk & Wardwell, a law firm that advised FTX in 2021.

Caroline Ellison’s Testimony Claims FTX Boss SBF Directed Her to Co-Mingle Customer Funds Since 2019

[Dec 23, 2022 4:30 PM] On Dec. 23, 2022, Matthew Russell Lee from the Inner City Press published the recently unsealed guilty plea transcript of Caroline Ellison, Alameda Research’s former CEO. In her statements, Ellison describes that she was the co-CEO and CEO of…

SEC Charges Against FTX, Alameda Execs Wang and Ellison Reveal Key Findings, US Regulator Says FTT Is a Security

[Dec 22, 2022 4:00 PM] On Dec. 21, 2022, members of U.S. law enforcement detailed that FTX co-founder Gary Wang and ex-Alameda Research CEO Caroline Ellison have pleaded guilty to financial fraud charges. The recent charges against Wang and Ellison highlight some key…

FTX’s Gary Wang and Alameda’s Caroline Ellison Plead Guilty to Fraud, Duo Is ‘Cooperating’ With Feds

[Dec 21, 2022 9:04 PM] On Dec. 21, 2022, U.S. attorney Damian Williams announced that the Southern District of New York (SDNY) Department of Justice (DOJ) filed charges against Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang. Williams declared that…

Binance US Plans to Acquire Voyager Digital’s Assets for $1 Billion in Bankruptcy Bid

[Dec 19, 2022 11:30 AM] According to a Binance blog post, Binance US has entered an agreement with Voyager Digital Ltd., in order to acquire its assets. The announcement details that the acquisition “sets a clear path forward for Voyager customers’ funds to be unlocked as…

Report: FTX Co-Founder Bankman-Fried Plans to Surrender to US Extradition Request

[Dec 17, 2022 4:00 PM] Disgraced FTX co-founder Sam Bankman-Fried (SBF) has reportedly reversed his decision to contest his extradition to the United States. Bankman-Fried has spent close to five days in the Bahamas Department of Correctional Services (BDOCS) jail Fox…

Indictment against SBF unsealed, contains 8 counts of financial and elections fraud

[Dec 13, 2022 12:55 PM] The indictment from the Southern District of New York names only Sam Bankman-Fried, but contains allegations of illegal activities by “individuals known and unknown” as well.

NYC Mayor stands by Bitcoin pledge amid bear market, FTX: Report

[Dec 12, 2022 11:30 AM] During Eric Adams’ time in office, the NY state government passed a law which will implement a two-year moratorium on proof-of-work mining, and the crypto market turned bearish.

Nexo leaving US, says country lacks clear regulations

[Dec 5, 2022 3:00 PM] The crypto lending platform says it will no longer accept new registrations, and operations for existing customers will eventually be wound down.

NYDFS proposes regulation to assess costs of 'supervision and examination' for licensed crypto firms

[Dec 1, 2022 3:25 PM] Though some crypto firms operate in New York with a BitLicense, many including NYC Mayor Eric Adams have criticized the licensing regime as a difficult barrier to cross.

Bankman-Fried claims: ‘I unknowingly commingled funds’ at DealBook Summit

[Nov 30, 2022 4:31 PM] Sam Bankman-Fried was speaking at the New York Times' DealBook Summit live on Nov. 30.

President of Bank of Brazil Shows ‘Open Finance’ Digital Real Concept Featuring Stablecoin Integration and Payments Functionality

[Nov 29, 2022 6:30 AM] Roberto Campos Neto, president of the Bank of Brazil, explained the role that the Brazilian central bank digital currency (CBDC), the digital real, might play in the future of personal finance. At an event, Neto explained the concept of “open…

First US State where you can no longer mine crypto: Law Decoded, Nov. 21-28

[Nov 29, 2022 4:15 AM] New York governor Kathy Hochul signed the moratorium, prohibiting any new mining operations that aren’t based on 100% renewable energy.

New York Mayor Supportive of Mining Restrictions but Maintains Crypto Hub Objective

[Nov 27, 2022 11:00 PM] Mayor of New York City Eric Adams took a supportive, if somewhat veiled, stance on the partial crypto mining ban imposed in the state. A law signed by fellow Democrat and New York Governor Kathy Hochul temporarily limits the minting of digital…

New York's mayor seeks balance with regulators after PoW mining moratorium

[Nov 26, 2022 3:51 PM] Adams said New York is still focused on becoming a crypto hub, but statewide efforts to reduce emissions can be combined with this goal.

New York Governor Signs Law Partially Banning Bitcoin Mining on Fossil Fuels

[Nov 23, 2022 8:00 AM] A moratorium on some crypto mining operations relying on carbon-based energy has been signed into law in New York. Businesses engaged in proof-of-work mining in the state will not be able to expand or renew their permits for the next two years as a…

New York AG pushes prohibition of crypto purchases via retirement funds

[Nov 23, 2022 3:20 AM] The NYAG clarified that digital assets differ from blockchain technology, and it has no issues with citizens purchasing stakes in publicly traded blockchain-based businesses in retirement accounts.

Breaking down FTX’s bankruptcy: How it differs from other Chapter 11 cases

[Nov 17, 2022 8:05 AM] The FTX bankruptcy has left creditors, investors and industry experts questioning what will happen next — Here is what we can expect.

US national crypto laws should look like New York’s, says state regulator

[Nov 16, 2022 4:09 AM] The superintendent of the New York Department of Financial Services highlighted her state’s stringent standards as the blueprint for federal legislation.

Manhattan District Attorney’s Office probes FTX collapse: Report

[Nov 14, 2022 12:15 PM] A source with knowledge of the investigations reportedly said New York authorities were looking into the collapse of FTX following the firm declaring bankruptcy on Nov. 11.

New York Fed collaborates with Singapore MAS to explore CBDCs

[Nov 11, 2022 5:02 AM] A joint effort is aimed at assessing the possible use of wholesale central bank digital currencies in cross-border transactions.