A group of FTX investors has agreed to drop legal claims against Sam Bankman-Fried. In exchange, the disgraced former crypto exchange CEO will cooperate in the investors’ suits against other defendants stemming from FTX’s collapse, including various celebrities paid to promote the exchange, according to court documents filed Friday (April 19). The settlement, first reported by Bloomberg News, comes weeks
Cryptocurrency exchange Kraken is buying TradeStation Crypto, the digital assets unit of TradeStation Group. With this acquisition, Kraken aims to expand its regulatory licensing in the United States, Seeking Alpha reported Thursday (April 18). “The transaction is part of our efforts to accelerate our U.S. presence and will unlock further growth and new product opportunities for Kraken in the U.S.,”
Crypto.com’s venture capital unit has doubts about some of the sector’s steep valuations. That’s according to CEO Kris Marszalek, who spoke on the topic in an interview with Bloomberg News published Wednesday (April 17). As the report noted, Marszalek is making this observation as a rally in the crypto sector has kicked off an uptick in billion-dollar
The Consumer Financial Protection Bureau (CFPB) has issued an order against coding bootcamp BloomTech, also known as the Bloom Institute of Technology, and its CEO, Austen Allred, alleging that they deceived students about the real cost of loans and made false claims about the hiring rates of the bootcamp’s graduates. The order permanently bans BloomTech from all consumer-lending activities; bans Allred
German grocery delivery startup Flink is reportedly receiving another 100 million euros ($106.7 million) from investors to extend its runway and try to outlast its competitors. The startup is also in discussions with rival food delivery companies about a potential merger, Bloomberg reported Wednesday (April 17), citing unnamed sources. Flink did not immediately reply to PYMNTS’ request
The British government is reportedly readying legislation for stablecoins and crypto staking, exchange and custody. “We are now working at pace to deliver the legislation to put our final proposals for our regime in place,” said Economic Secretary Bim Afolami, whose comments Monday (April 15) at the Innovate Finance Global Summit were reported by CoinDesk. “Once it goes
The cryptocurrency industry can learn lessons from the settlements three crypto exchanges reached with regulators. So said the chief compliance officers of Binance, Coinbase and Kraken while speaking Wednesday (April 10) at Chainalysis’ Links conference in New York, the Wall Street Journal (WSJ) reported Wednesday. Each of the three companies reached settlements with U.S. regulators within the
Cryptocurrency is increasingly becoming a safe haven for “malign actors” such as terror groups. That’s according to testimony Tuesday (April 9) by U.S. Treasury Deputy Secretary Wally Adeyemo, who spoke before the Senate Banking Committee. “Our problem is that actors are increasingly finding ways to hide their identities and move resources using virtual currency,” Adeyemo
Microsoft will reportedly invest $2.9 billion for artificial intelligence projects in Japan. The investment will go toward expanding Microsoft’s cloud and AI infrastructure in the country, training 3 million people in AI and setting up a Microsoft Research Asia lab in Tokyo, Reuters reported Tuesday (April 9). The company will announce this investment Tuesday, while Japanese Prime Minister
Zolar, a digital platform for residential solar in Germany, has reportedly raised €100 million (about $109 million) in funding to launch a new financing solution for residential solar consumers. The company’s latest investment came from global financial institution BNP Paribas and brought its total funding to nearly €300 million (about $326 million), Tech Funding News reported Monday (April