Brian Armstrong, founder of Coinbase, photographed for Forbes by Jamel Toppin in January 2020.Jamel Toppin/The Forbes Collection What Happened The Department of Justice (U.S. Attorney’s Office for the Southern District of New York) announced charges yesterday against Ishan Wahi, a former product manager at Coinbase, his brother, Nikhil Wahi, and a friend, Sameer Ramani. They… More
Del Wang, cofounder and CEO of Babel Finance. Babel Finance Babel Finance, a Hong Kong-based crypto lender and asset manager, has secured $80 million from investors including crypto venture firms Dragonfly Capital and Circle Ventures, ramping up its valuation to $2 billion four years after it was founded. Major investors of the round are Chinese… More
Over the past week and a half, in one of the largest wealth-destroying events in crypto history, we witnessed the horrific unravelling of the Terra ecosystem. Terra, prior to its demise, was one of the most promising and ambitious crypto ecosystems with one key mission – to build the largest algorithmic stablecoin. A thriving community… More
A large number of recent Ponzi schemes have used decentralized finance (DeFi) infrastructure to defraud their customers. This article explores the DeFi ecosystem and how fraudsters are able to exploit it to steal from crypto newbies. Representation of cryptocurrency and the word ‘DeFi’ displayed on a screen in the background are … [+] seen in… More
Topline The platform behind the embattled luna cryptocurrency said Thursday afternoon it had temporarily halted its blockchain to stop transactions after the token’s price plummeted nearly 100% overnight, making the network more susceptible to a possible attack. The price of Terra’s luna token collapsed to less than a penny on Thursday after trading at about… More
Topline Shares of two meme stocks surged higher on Thursday, boosted by retail investors despite the wider market selloff, as GameStop’s stock was halted several times for volatility after rising more than 30% earlier in the day, while AMC Entertainment also rallied. GameStop surged as high as 33%, with trading halted for volatility as many… More
Bitcoin and cryptocurrencies have crashed further overnight, dropping to levels not seen since the crypto market began surging in late 2020 and wiping away almost $1 trillion worth of value in a month as a serious “ripple” warning comes into effect. Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and successfully navigate the volatile bitcoin… More
Solana prices have plunged lately, falling below $45 today. Photographer: Gabby Jones/Bloomberg © 2021 Bloomberg Finance LP Solana prices have dropped sharply lately, shedding value along with many other digital assets as cryptocurrency prices reel from the latest developments. The value of Solana’s sol token reached $43.22 around 4:50 p.m. ET, according to Messari data.… More
Signage outside Blackrock headquarters in New York, U.S., on Wednesday, Oct. 13, 2021. © 2021 Bloomberg Finance LP Asset manager BlackRock and hedge fund giant Citadel Securities have denied trading the troubled TerraUSD (UST), in separate emails sent exclusively to Forbes. The comments come on the back of rapidly spreading rumors the financial giants had… More
NEW YORK, NY – APRIL 14: Monitors display Coinbase signage during the company’s initial public offering (IPO) at the Nasdaq market site April 14, 2021 in New York City. Getty Images Shares of Coinbase Global (COIN), the largest cryptocurrency exchange in the U.S., plunged more than 20% on Wednesday morning to approximately $56 after the… More
Topline Stocks finished lower on Friday, adding to recent losses despite stronger-than-expected jobs data, as investors continue to remain nervous about a slowdown in economic growth and experts warn of more market downturns ahead. Stocks extended losses from Thursday’s brutal selloff. Richard Drew/ASSOCIATED PRESS Key Facts All three major indexes were down for at least… More
Bitcoin, ethereum and other major cryptocurrencies have suddenly crashed, wiping around $100 billion from the combined crypto market in mere minutes (and following a serious bitcoin price warning). Subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and successfully navigate the volatile bitcoin and crypto market The bitcoin price is down around 5% over the last… More
Today Warren Buffett and Charlie Munger held court at the 2022 Berkshire Hathaway BRK.A shareholder meeting. I’ve attended the event twice in Omaha. This year I watched on my iPad from a Starbucks in Ocean City, Maryland. Watching it live in Omaha is better. Yet as always, Buffett and Munger imparted their wisdom as only… More
Superplastic Founder and CEO Paul Budnitz, pictured in the startup’s headquarters in Burlington, Vermont. Superplastic The future cultural center of the Metaverse might be 3,000 miles away from Hollywood and Silicon Valley, in a century-old brick and timber warehouse in Burlington, Vermont. On the shores of Lake Champlain, Superplastic founder Paul Budnitz and a team… More
Switzerland’s tech-neutral approach to regulation has created a fertile ground for bitcoin adoption GETTY Ask the average person in the street what they think about bitcoin, and you’re likely to hear one of two responses: either it’s an earth-shattering invention that’ll transform global finance; or it’s a dodgy game for fraudsters and speculators that’ll end… More
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