Why NFTs saw $941 million in trading volume in January – the highest since June 2022

Non-fungible tokens registered $941 million in trading volume in January 2023, up 38% from December, and the highest on record since June 2022, according to a Feb. 2 report by DappRadar, which tracks and analyzes the activity of NFT marketplaces. Non-fungible tokens, which provide proof of ownership of a digital asset like online artwork, surged … Read more

Former FTX CEO Sam Bankman-Fried is restricted from using encrypted messaging apps

A New York judge has imposed communication limits on former FTX chief executive Sam Bankman-Fried, according to a court filing on Feb. 1. The filing includes two restrictions. Bankman-Fried can’t communicate with any previous or current employees at FTX or Alameda, other than his immediate family members, except in the presence of a legal counsel. … Read more

DC Townhouse Linked to Fallen FTX Founder Sam Bankman-Fried Is Listed for $3.3M

What a difference a few months makes. Since the implosion and bankruptcy filing of the cryptocurrency exchange FTX in November, its founder Sam Bankman-Fried has experienced some dramatic life changes—as have those closest to him. A prime example? The listing of a townhouse in Washington, DC, that was purchased in April 2022 by Guardians Against … Read more

Tom Brady’s FTX shares were once worth $45 million. Will he lose it all?

Former FTX CEO Sam Bankman-Fried lost his entire $16 billion fortune in just a few days after his crypto company filed chapter 11 bankruptcy protection last year, but he’s not the only high-profile investor who may lose money amid FTX’s downturn. As interest in crypto and crypto exchanges exploded in recent years, more high-profile individuals … Read more

Coinbase stock poised to record best month in history. Can the rally continue?

The stock of crypto exchange Coinbase is on track to record its strongest month in history, despite the implosion of its former competitor FTX in November which shook investor confidence in digital currency markets.    Coinbase COIN, +4.88% shares are up 60% year-to-date and are up 77% from the all-time low of $31.55 on Jan.6, … Read more

SBF’s Alameda seeks to reclaim $446 million in loan payments to Voyager

Alameda Research, the trading arm of Sam Bankman-Fried’s bankrupt crypto exchange FTX, is seeking to recoup about $446 million in loan payments from similarly bankrupt crypto lender Voyager Digital. According to a filing in Delaware bankruptcy court Monday, FTX — filing on behalf of Alameda — said that before Voyager filed for bankruptcy in July, … Read more

Elon Musk is trying to build a Twitter payments system — and crypto may be part of it: report

Twitter is reportedly pushing forward its efforts to introduce payments across the social media platform. In Elon Musk’s vision, the system would use fiat currencies at first, but may add crypto functionality later, the Financial Times reported on Monday. The social media giant has been applying regulatory licenses and devising the software it needed to … Read more

Hedge funds hit with $111 billion in outflows in 2022 as Fed rate hikes rattle investors

Hedge funds endured their third-worst year of outflows in about 15 years in 2022, as the Federal Reserve’s rapid-fire rate hikes rattled investors and pulled down asset prices, according to a new tally of fund flows by eVestment. Investors withdrew a giant $111 billion from hedge funds in 2022, one of the industry’s worst stretches … Read more

Why bitcoin is up 40% in January despite crypto industry carnage. Can the rally continue?

Welcome back to Distributed Ledger. This is Frances Yue, crypto reporter at MarketWatch. Bitcoin has had a stellar start this year, with an almost 40% rise so far, even though crypto lender Genesis filed for bankruptcy last week, only months after digital asset exchange FTX imploded in November. In this installment, I’ll break down what’s … Read more

Charles Schwab blasts NYSE over stock-trading glitch

Retail brokerage Charles Schwab late Wednesday publicly criticized the New York Stock Exchange for its handling of a trading glitch this week that triggered wild price swings, numerous trading halts and thousands of busted trades. “We are disappointed with the way the NYSE handled their system failure [Tuesday], which they admitted was the result of … Read more