Crypto firm BlockFi files for bankruptcy as FTX fallout spreads

MacKenzie Sigalos | Lillian Rizzo | Rohan Goswami Distressed crypto firm BlockFi has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of New Jersey following the implosion of putative acquirer FTX. In the filing, the company indicated that it had more than 100,000 creditors, with liabilities and assets […]

Binance to FTX: ‘I can’t fix you’

Binance’s affair with FTX was just a one-night stand. After agreeing to take over FTX on Tuesday, Binance said it was walking away from the deal yesterday, leaving its collapsed rival exchange on the brink of extinction. Facing a shortfall of up to $8 billion, FTX Chief Executive Sam Bankman-Fried (aka “SBF”) reportedly told investors that his […]

The Failed Promise of Trustlessness

Crypto’s dirty little secret is that it’s no more eliminated the need for trust than it has replaced the U.S. dollar. by Scott Galloway | Medium It’s been a bummer summer for crypto. Flagship coins Bitcoin and Ether are at multiyear lows, while lesser coins barrel to zero. Luna went from a market capitalization of $34 […]

What Happened to Celsius, the Crypto Lender?

by RJ FULTON | How-To Geek The crypto market has been rattled again in June 2022 due to a groundbreaking announcement made by crypto platform Celsius. The company announced it would no longer allow users to withdraw, swap, or transfer account balances. What Is Celsius? Celsius is a centralized lending and borrowing platform that’s been around since 2017.  Users […]

Is crypto winter coming? (And what is that?)

This isn’t a Game of Thrones thing. This is about a different alternate reality that quickly became a lucrative franchise: the crypto world. “Crypto winter” refers to an extended period of downtrending crypto prices, or when you see a bunch of guys in Hawaiian shirts in Miami who look sad, kind of like they just lost a […]

Bitcoin showing signs of comeback

Bloomberg | MyBroadBand Bitcoin rose the most in two weeks, trading above $30,000 as investors and strategists said the digital currency is showing signs of bottoming out. The largest cryptocurrency was up 5.2% to $30,687 at 2:21 p.m. in New York, its biggest increase since May 15. Ether and smaller tokens like Avalanche, which got […]

6 More weeks of crypto winter for Coinbase

Coinbase trading volumes, revenue are down CEO Brian Armstrong tweeted there’s “no risk” of bankruptcy. By Jamie Wilde | Morning Brew Coinbase shares skidded 26% yesterday after dropping a Q1 earnings report that showed less stability than a stablecoin. As economic growth and the value of cryptocurrencies crater, traders on the exchange have stopped flinging around crypto […]

Twitter Gets a New Crypto Bro CEO

by ANDREW HEINZMAN | REVIEW GEEK One crypto bro steps down; another comes to take his place. Just a few weeks after announcing his bid for Twitter, Elon Musk has entered a “definitive agreement” to purchase full ownership of the company. The deal is valued at around $44 billion, and upon its completion, Twitter will exit the […]