Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison

Crypto entrepreneur Sam Bankman-Fried was sentenced Thursday to 25 years in prison for a massive fraud on hundreds of thousands of customers that unraveled with the collapse of FTX, once one of the world’s most popular platforms for exchanging digital currency. Though he described Bankman-Fried as “extremely smart,” U.S. District Judge Lewis A. Kaplan delivered […]

Santa Monica California Opens US’ First Bitcoin Office, Inspired b…

Santa Monica California Opens US’ First Bitcoin Office Key Takeaways: Santa Monica, California Opens First Bitcoin Office in the US: Inspired by El Salvador’s Bitcoin policies, Santa Monica establishes a dedicated Bitcoin Office to educate residents and explore economic benefits. Key Figures and Partnerships: The initiative, led by Vice Mayor Lana Negrete and supported by […]

California’s crypto bill reveals the fractured state of digital asset regulation

Proof of State is the Wednesday edition of Fortune Crypto where Leo Schwartz delivers insider insights on policy and regulation. Fridays are typically reserved for news dumps, and last week’s may have been a historic opportunity, with Crypto Twitter catching its breath after Caroline Ellison’s staggering testimony and using its remaining energy to opine on geopolitical tragedies. So when Gov. […]

Sam Bankman-Fried Is Moving to a New Prison Facility: Report

Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX, is being relocated to a new prison, according to a report by The Wall Street Journal. A representative for Bankman-Fried confirmed the move, though the exact destination remains undisclosed. Sam Bankman-Fried Likely Moving to California Sources familiar with the situation suggest that Bankman-Fried is likely […]

Simon Malls Has 5 New Bitcoin ATMs With Bitstop Partnership

Bitstop installed five bitcoin ATMs in Simon Property Group locations over the past month – in Carlsbad Premium Outlets in Carlsbad, California, Mall of Georgia in Buford, Georgia, Miami International Mall in Miami, Sawgrass Mills in Sunrise, and The Avenues in Jacksonville, Florida – expanding the company’s exposure to first-time bitcoiners as it eyes a […]

Facebook to launch new cryptocurrency, called Libra

Facebook Inc. revealed plans on Tuesday to launch a cryptocurrency called Libra, the latest development in its effort to expand beyond social networking and move into e-commerce and global payments. Facebook has linked with 28 partners in a Geneva-based entity called the Libra Association, which will govern its new digital coin set to launch in […]

Ripple faces securities suit in California over CEO’s ‘misleading statement’

A United States federal court judge has greenlit a civil securities lawsuit against Ripple Labs, denying its summary judgment bid in a suit alleging its CEO broke California securities laws. The June 20 order by Judge Phyllis Hamilton of the U.S. District Court for the Northern District of California means a jury will decide if Ripple boss […]

Six world-leading blockchain and cryptocurrency firms

Six blockchain companies made it on to Forbes’ recent FinTech 50 List’ for 2020. Between them, they have achieved over US$1bn in funding already With the legitimacy of blockchain and cryptocurrencies now widely acknowledged, here are the six world-leading firms in the space, according to Forbes. Coinbase was created with one simple mission: to create an […]

What It Means for Cryptocurrency Companies Offering Money Transmission Services to U.S. Customers

In a display of the United States’ jurisdictional reach, the Justice Department has indicted KuCoin, a prominent global cryptocurrency exchange, along with founders Chun Gan and Ke Tang, for Bank Secrecy Act (BSA) and unlicensed money transmission offenses. The indictment follows similar enforcement actions against other large cryptocurrency exchanges, such as BitMex in 2020 and […]

Bitcoin Depot expands footprint by 400 ATMs

Dive Brief: Cryptocurrency ATM operator Bitcoin Depot has purchased about 400 bitcoin ATMs to be deployed by the end of the first quarter of this year, according to a Tuesday press release. Tuesday’s announcement comes less than a month after the Atlanta-based company said it would purchase 500 bitcoin ATMs from ATM manufacturer Genmega. The combined […]