A federal jury in New York has found South Korean crypto magnate Do Kwon—and his company Terraform Labs—liable for defrauding investors who collectively sank billions of dollars into cryptoassets whose value later fell to near zero. Filed in February 2023 by the Securities and Exchange Commission, a regulatory body responsible …
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A judge in the UK High Court has declared that Australian computer scientist Craig Wright is not Satoshi Nakamoto, the creator of Bitcoin, marking the end of a years-long debate. “The evidence is overwhelming,” said Justice James Mellor, delivering a surprise ruling at the close of the trial. “First, that …
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Bitcoin fever has returned. On March 5, the price of the cryptocurrency swelled to a record high—and has continued its upward march. In 2024 it has provided investors with a greater return than almost any other asset. But as enthusiasm for bitcoin spreads anew, so do myths and confusion around …
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The ransomware attack targeting medical firm Change Healthcare has been one of the most disruptive in years, crippling pharmacies across the US—including those in hospitals—and leading to serious snags in the delivery of prescription drugs nationwide for 10 days and counting. Now, a dispute within the criminal underground has revealed …
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Bitcoin was invented by Satoshi Nakamoto, an enigmatic figure about whom almost nothing is known. Fifteen years ago, Satoshi brought the idea of an electronic cash system into being with the help of a small cast of oddballs. This week, some of those early collaborators—now crypto-celebrities in their own right—took …
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A survey of headlines from the past couple of years in the cryptocurrency industry might lead anyone to believe that it is a deeply unserious business. Hackers made off with billions of dollars, and scammers billions more. Regulators sued some of the largest crypto exchanges. High-profile businesses fell into bankruptcy. …
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Bitcoin devotees are declaring a historic victory after US regulators approved a new, more accessible way for people to invest in the crypto asset after a decade of resistance. Yet they won’t go anywhere near it themselves. On January 10, after a farcical false start, the US Securities and Exchange …
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The fall of FTX created a “huge vacuum” in the cryptocurrency market, says Can Sun, cofounder of Backpack, a new crypto exchange under development in the United Arab Emirates. Sun knows that better than most: He was previously the general counsel at FTX, whose high-profile collapse has led to industry-wide …
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The prospect that US residents may soon be able to invest in bitcoin through their brokerage, as if it were a regular stock, has prompted a fresh round of hype in crypto circles—and a surge in crypto prices. Several investment firms, including heavy-hitters like BlackRock and Fidelity, are queuing up …
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The world’s largest crypto exchange, Binance, and its founder, Changpeng Zhao, pleaded guilty yesterday to criminal charges in the US, releasing a wave of pent-up tension that had hung over the crypto industry for years. Zhao, who also went by CZ, was one of the poster boys for crypto’s freewheeling …
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