A review found that the exchange's compliance program violated state laws, making it "vulnerable to serious criminal conduct." It will pay a $50 million fine and spend the rest beefing up oversight.
Binance temporarily froze withdrawals after customers withdrew more than $1 billion worth of crypto on Tuesday, fueling fears more crypto companies could collapse.
BlockFi was one of the companies that FTX bailed out in recent months. Now it's a clear sign that contagion from FTX's collapse is spreading throughout the crypto industry.
At the first hearing in FTX's bankruptcy proceedings, lawyers confirmed that millions of dollars are stolen or missing, and revealed stunning details about the downfall of the once-mighty exchange
Congress, which has been unable to pass comprehensive crypto legislation, is digging into what happened as regulators try to police the new, mysterious world of virtual currencies with old laws.
The now-bankrupt cryptocurrency exchange FTX made real money off of its own digital currency, called FTT. That currency is practically worthless now, but investors continue to trade it.
Sam Bankman-Fried received huge plaudits and superstar status as the head of cryptocurrency exchange FTX. Now the comments aren't so kind after FTX filed for bankruptcy protection.
Many first-time investors bought Bitcoin and other cryptocurrencies as they neared all-time highs, and crypto companies spent millions on marketing. Today, they are coping with painful losses.
Tesla, JPMorgan, Netflix, Redfin and Coinbase are among companies that are cutting jobs. While layoffs are contained to the hottest parts of the economy, there's fear they could spread elsewhere.
