Nevada’s business regulator issued a cease and desist order to the crypto custodian alleging it has a “shortfall of customer funds.” Prime Trust’s financial condition is “critically deficient” and the crypto custodian has been unable to honor customer withdrawals since June 21, according to Nevada’s business regulator. In a June 21 cease and desist order, Nevada’s...Continue Reading

After a Hollywood dinner party, hundreds of millions of dollars of “avoidable” transfers were sent from Alameda to investment firm K5 Global, the suit alleges. FTX has filed a lawsuit in the United States Bankruptcy Court for the District of Delaware against some of the investment firms it had ties to before its collapse. The suit,...Continue Reading

Laws in the United States are the problem. Cryptocurrency advocates should focus on changing them — and, in the meantime, consider moving to the European Union. The animus of the entire crypto world is focused on Securities and Exchange Commission Chair Gary Gensler. Critics argue that he paints cryptocurrencies with too broad a brush. They...Continue Reading

In 2022, X1 claimed to have 500,000 people on its waiting list for a credit card. Over the past two years, the startup has raised $62 million from venture capital firms. Crypto and stock trading app Robinhood has taken a new step to diversify its business portfolio by acquiring the credit card startup X1 in...Continue Reading

Bitcoin traders always talk about BTC’s correlation with gold and equities, but how much attention should average investors pay to this discussion? Some news sources have been fond of making comparisons between Bitcoin’s (BTC) price action and that of other assets. In particular, the two most commonly compared asset classes are gold and tech stocks....Continue Reading

The EU Cryptopay cards may stop working soon as the Bank of Lithuania has revoked the EMI license of the app’s provider, UAB PayrNet. The European Union debit card provider for Cryptopay has lost its Electronic Money Institution (EMI) license, according to a June 22 email sent to its customers. The company recommends to EU...Continue Reading