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The Gemini-Genesis battle has reached a boiling point.Cameron Winklevoss, the Gemini co-founder and president, published an open letter Monday that called for the Digital Currency Board to remove CEO Barry Silbert from his post and had a scathing assessment of the financial health of Genesis, ... → Read More
Top executives at Binance and Coinbase have been busy penning messages to reassure their employees and customers that they’re no FTX.Binance CEO Changpeng Zhao told his staff that he expects the “next several months to be bumpy” but Binance will get through it and be “stronger for having been ... → Read More
FTX founder Sam Bankman-Fried has just been charged with a raft of crimes. But they’re not really crypto crimes—and that’s a big relief for the broader crypto industry. The criminal charges, laid out in an indictment filed by federal prosecutors in New York, center on decidedly old-school ... → Read More
Signs are emerging that FTX’s dramatic collapse last month has benefited other major crypto trading platforms—at least in the short term.One example is stock and crypto trading app Robinhood, which reported November trading metrics on Wednesday. Most of the data it reported were similar to its ... → Read More
Sequoia Capital partner Divya Gupta is leaving the firm just weeks after the storied venture capital firm apologized to limited partners about its $214 million investment in the now-bankrupt crypto exchange FTX. Gupta worked on seed- and early-stage investments in cryptocurrency and artificial ... → Read More
Brett Harrison, the former president of FTX’s U.S. arm, is trying to raise money for a new crypto startup focused on building crypto trading software for big investors, according to two people with direct knowledge of the matter. Harrison has told at least one venture capital firm he is aiming ... → Read More
It’s hard to write about much in crypto right now without mentioning FTX. In just three years, the exchange spread influence—and money—far and wide. And its sudden implosion has created a massive vacuum.I reported on Tuesday about how FTX Ventures’ role as a significant player in crypto ... → Read More
The FTX collapse has left many customers in limbo, with billions of dollars stuck on the bankrupt exchange. And contagion has been spreading to firms including BlockFi and Genesis, as I mapped out last week.But high-profile implosions have been good for business in one corner of the crypto ... → Read More
The FTX saga continues to move at a blistering pace, with FTX, FTX US and Alameda Research all filing for Chapter 11 bankruptcy last Friday and Sam Bankman-Fried, its co-founder, resigning as CEO. We're starting to see the contagion of the FTX collapse spread to crypto lending companies ... → Read More
It’s often casually thrown around that crypto moves faster than other industries. That has never been more evident than it was over the past few days.In case you’ve been living under a rock, Sam Bankman-Fried’s FTX crypto empire has fallen. On Tuesday, the world’s largest crypto exchange, ... → Read More
Robinhood’s latest financial results show that the crypto winter isn’t thawing anytime soon, at least when it comes to trading.The stock and crypto trading app generated $361 million in revenue in the third quarter, essentially flat versus the same period last year. Crypto trading revenue was ... → Read More
Crypto exchange Coinbase has seen a dramatic change of fortunes with crypto’s downturn. Now Coinbase co-founder and CEO Brian Armstrong is trying to rein in costs while pushing ahead on launching products and expanding into new markets. Emilie Choi, Coinbase’s president and chief operating ... → Read More
“In Silicon Valley, crypto and the metaverse are out. Generative AI is in,” the New York Times technology columnist Kevin Roose proclaimed last week, joining other industry watchers in weighing in on what’s top of mind for those who control the Silicon Valley war chests. But are crypto ... → Read More
As regulators take aim at cryptocurrency tokens, prominent crypto investors have taken unusual steps to insulate themselves: not seeking board seats at startups in hopes of avoiding liability. Investors’ lawyers are warning that members of token-issuing startup boards could potentially face big ... → Read More
It’s been a rough couple of weeks for crypto companies as token prices have dropped, bellwethers such as Coinbase have laid off staff, and the crash in two cryptocurrencies—terraUSD and luna—has trashed confidence in digital assets. But some startups have been able to lock in new funding rounds ... → Read More
Over the past few weeks, we’ve been covering the downturn in crypto prices and how that’s affecting crypto companies. For some, it’s triggered layoffs and hiring freezes.But as my story on Tuesday this week shows, there’s also an effect on the broader ecosystem of firms that have helped ... → Read More
Before a hiring freeze brought its eye-popping expansion to a screeching halt, Coinbase went shopping at Amazon: for employees. The e-commerce giant was the top source of new hires for Coinbase in the first five months of this year, unseating Google from the No. 1 spot and accounting for 11% of ... → Read More
Investors haven’t been shy about warning founders that the next crypto winter is upon us—though most are spinning the downturn as a big opportunity for those that can weather the storm to come out even stronger. Andreessen Horowitz seemed to prove this logic right, at least as far as funding ... → Read More
As Ukraine crowdsources millions of dollars worth of digital currency to fund its defense against Russia, the nation’s early adoption of crypto appears to be paying dividends.Ukraine’s government has so far raised more than $13 million worth of bitcoin and other tokens, according to data from ... → Read More
It’s a big week for crypto earnings, with Block and Coinbase both releasing their 2021 fourth-quarter results on Thursday. Today, we preview what to expect from Coinbase’s earnings call.Analysts expect fourth-quarter revenue of $1.98 billion, a nearly 300% increase from the fourth quarter of ... → Read More