On Thursday, a federal judge sentenced former FTX CEO Sam Bankman-Fried to 25 years in prison after he was found guilty on seven charges of wire fraud and money-laundering. The scam he pulled was fairly simple: He and his partners created an exchange, FTX, that took customer deposits to invest in and trade cryptocurrencies. Some […]
Crypto exchange OKX ceases services in India
Crypto exchange OKX is ceasing services for users in India, it said in an email to customers Thursday, advising them to withdraw their funds by April-end. The move follows Apple and Google pulling the eponymous app of OKX in the country after an Indian government agency said many crypto exchanges were operating illegally in the […]
Bitcoin hits highs, Binance launches a crypto perfume and Coachella partners with OpenSea
Welcome to TechCrunch Crypto, formerly known as Chain Reaction. To get a roundup of TechCrunch’s biggest and most important crypto stories delivered to your inbox every Thursday at 12 p.m. PT, subscribe here. Hello and welcome back to the TechCrunch Crypto newsletter. To start things off, here’s a shameless plug: I went on Yahoo Finance […]
Crypto users in Nigeria briefly lose access to Binance, Kraken and Coinbase
Some cryptocurrency exchanges in Nigeria faced accessibility issues for users, prompting speculation of imposed restrictions on crypto sites, the Financial Times reported. On Wednesday, local media reported that Nigeria’s telecom regulator, the Nigerian Communications Commission (NCC), received instructions from the country’s apex bank to suspend access to crypto websites, including Binance, Coinbase and Kraken. This […]
Crypto exits remain low but investors remain unfazed
The global venture capital market is enduring a long period of limited exits. Startups are staying private longer, M&A is quiet in part due to sharpened regulatory oversight, and the IPO market remains frozen. This means many historical venture deals are slowly rotting on the vine, in IRR terms. The crypto market is no different, […]