Crypto

The Wall Street Journal reports that Paxos,  a company focused upon stablecoins, has been issued with a notice they are to be sued by the New York Department of Financial Services (NYDFS). Sources cited by the Wall Street Journal (WSJ) say the U.S. Securities and Exchange Commission (SEC) plans to sue Paxos for violating investor…

I posted a quote the other day on social media, remembering the old bank robber in America, Willie Sutton. You may not have heard of him, as it is almost a century ago but, during his forty-year robbery career, he stole an estimated $2 million. Today that would be around $35 million. He then spent…

I’ve enjoyed the rise and rise of the Libertarian dream of ungoverned finance. In 2022, facing the reckoning, it’s now quite funny to see the Libertarians saying we need regulations. As I’ve always said: you cannot have money without governance. The challenge here however is what governance? Do we need central banks and nations to…

Just when you think that cryptocurrencies are unregulated and ridiculous, the industry spends four years to work out a set of standards to ensure trust. Who would have thought it? Global cryptoasset standards This set of global principles of good practice in the Global Cryptoasset Standards has been developed to provide a common set of…

After 2022’s bloodbath of the crypto world where so many firms were lost – FTX, Celsius, Terra, Three Arrows Capital, Voyager and Vauld to name just a few – this year will be sorting out the mess. Regulations will come to the crypto markets as will consolidation and organisation. It’s interesting that Coin Market Cap…

What excites Vitalik Buterin (Mr. Ethereum)? Vitalik Buterin is the leading thinker around smart contracts and blockchain, as well as being the inventor of ETH, the currency, and Ethereum, the platform. A really bright guy and always worth a listen. So, I was interested in his latest blog about the future of where all this…

I really did not want to write about this article on the ECB’s website but, after so much coverage (including our discussion on this week’s FU), I feel I have to. So, the ECB say bitcoin is irrelevant. Why? Well, on the back of the collapse of Terra-Luna, Three Arrows Capital, Celsius, FTX, BlockFi and more,…

It amazes me how many people misread, half-read or assume things based on what you say. There were two instances in the last week. The first: There is an error in @Chris_Skinner’sreasoning. High quality crypto assets absolutely do have fundamental value (all currencies don’t have intrinsic value.) https://t.co/vCWqi00VQV — Gene Hoffman hoffmang.xch 🌱 (@hoffmang) November…

Building on Friday’s blog, everyone is asking whether the house of crypto is falling apart like a house of cards. People are saying that Sam Bankman-Fried, the founder and faller at FTX, was running a Ponzi scheme. What is the definition of a Ponzi scheme? According to the Oxford Dictionary, it is “a form of…

This year is proving a testing year for everyone, but particularly for those in the cryptocurrency space. We’ve seen the collapse of Celsius,  Terra-Luna, and now FTX and possibly Genesis. It just reinforces the Wild West of Crypto, which I’ve referred to often. The Financial Times commented on the collapse of FTX – surely you’ve heard…