The price of the stablecoin TerraUSD was down sharply on Monday as the cryptocurrency’s creator announced a plan to attempt to rescue the project. The price of TerraUSD, created to maintain a value equal to a dollar, was down 36% at 11 cents, according to CoinMarketCap. Trading volume over the...
NEW YORK—The number of cases of alleged digital asset fraud and manipulation continues to accelerate, the head of the Commodity Futures Trading Commission said. “Headlines about the loss of tens of millions of dollars in digital assets due to protocol exploits, phishing attacks, preying on vulnerable people and other fraudulent...
WASHINGTON—Securities and Exchange Commission Chairman Gary Gensler said Wednesday he worries that more investors will be harmed in cryptocurrency markets, after this month’s implosion of the stablecoin known as TerraUSD. “I think a lot of these tokens will fail,” Mr. Gensler told reporters after a House Appropriations Committee panel hearing...
Binance.US Chief Executive Brian Shroder at The Future of Everything Festival in New York on Wednesday. Photo: Gary He for The Wall Street Journal The Future of Everything Festival is happening right now. Click here to register and watch for free as a member. The head of crypto exchange Binance.US...
At the start of 2022, Neel Somani was a quantitative research analyst working at Citadel, billionaire Ken Griffin’s powerhouse hedge-fund firm, which manages about $47 billion. But at age 24, Somani quit in late February with dreams of getting rich in crypto and helping to build a more decentralized financial...
The collapse of the stablecoin TerraUSD USTUSD, +3.54% has made waves in Washington, attracting the attention of the nation’s top policymakers and adding urgency to an ongoing debate in Congress about cryptocurrency regulation. At its peak in early May, TerraUSD, also known by its ticker UST, was the third most...
Bitcoin was created in 2009, not 2019 as a previous version of this article stated. The error has been corrected. Stablecoin USDTerra, or UST USTUSD, +13.03%, once among the top 10 largest cryptocurrency by market cap, lost its 1 to 1 peg against the U.S. dollar, falling to as low...
Blockchain analytics firm TRM Labs Inc. has hired Sujit Raman as its new general counsel, a former Justice Department prosecutor who led efforts to develop the government’s cryptocurrency enforcement framework. In his new role at TRM, Mr. Raman will report to Chief Executive Esteban Castaño and will be based in...
Cryptocurrency prices are moving in lockstep with stocks and bonds like never before, punishing those who bought bitcoin and other digital assets in part to diversify their investment holdings. The three-month correlation between the cryptocurrencies bitcoin and ether and the major U.S. stock indexes hit its highest level on record...
Billionaire crypto investor, Barry Silbert, the founder and CEO of Digital Currency Group, on Saturday offered sympathy and advice to those who have lost fortunes recently. It’s been a tough six months to be a crypto investor. Whipsawing markets, faltering asset prices, rising interest rates yields, and high inflation have...
