Tag: CEO

SBF’s ‘Biggest Mistake’ Was Signing Over FTX To CEO John Ray

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Sam “SBF” Bankman-Fried, the founder and former CEO of the bankrupt cryptocurrency exchange FTX, said his “biggest mistake” during the $8 billion collapse was handing control of the company to new management — a decision he claims cost him a last-minute opportunity to save the firm. Bankman-Fried, once the leader of the $32 billion FTX exchange, is currently serving a 25-year prison sentence for seven felony charges related to the collapse of FTX and Alameda Research in November 2022, which resulted in an $8.9 billion loss of investor funds. Looking…

Consensys CEO Says SWIFT Is Building on Linea

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SWIFT — the Society for Worldwide Interbank Financial Telecommunication — will be building its recently announced blockchain payment settlement platform on Ethereum layer 2 Linea, Consensys CEO Joe Lubin has confirmed. On Monday, SWIFT revealed that it had tapped Consensys and over 30 TradFi institutions to build infrastructure for a 24/7 real-time crypto payments system — but didn’t confirm which chain it would build on despite widespread speculation that it would be Linea. However, Lubin confirmed Linea’s selection in a fireside chat with Cointelegraph’s Gareth Jenkinson at the Token2049 conference…

ETHZilla CEO Predicts Ethereum as Future of Finance

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ETHZilla CEO McAndrew Rudisill has revealed he made the decision to go all in on Ethereum after seeing its potential in the nearly trillion-dollar global remittance market. Two months later, his formerly floundering biotechnology company is now the eighth-largest public Ethereum treasury in the world. “Ethereum is effectively a gateway for money supply globally to transmit in US dollars,” ETHZilla CEO McAndrew Rudisill told Cointelegraph. The company began life as Life Sciences Corp, a Nasdaq-listed biotechnology firm, which rebranded as ETHZilla Corporation in July, shortly after the US President Donald…

Former Binance CEO CZ’s YZi Labs May Open to External Investors

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Changpeng “CZ” Zhao’s $10 billion investment firm YZi Labs is weighing plans to open the fund to outside capital and external investors. YZi Labs manages Zhao’s personal fortune and funds from a few early Binance insiders, including co-founder Yi He. The fund accepted about $300 million in outside funding in 2022, but later returned part of it, citing the overwhelming scale of capital already under management. “There’s always a lot of external investors interested,” Ella Zhang, who heads the fund, told the Financial Times. “We will eventually consider turning it…

Michael Saylor and Marathon Digital CEO will join Capitol Hill roundtable on national Bitcoin strategy

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Key Takeaways Industry leaders, including Michael Saylor and Fred Thiel, will attend a Capitol Hill roundtable to support the BITCOIN Act. The BITCOIN Act, reintroduced by Sen. Cynthia Lummis, proposes the US government acquire 1 million Bitcoin over five years. Share this article Strategy co-founder Michael Saylor, Marathon Digital CEO Fred Thiel, and other industry leaders will attend a Capitol Hill roundtable on Tuesday to advocate for the BITCOIN Act. The bill, reintroduced by Sen. Cynthia Lummis in March, proposes the US acquire 1 million Bitcoin over five years through…

Polymarket CEO confirms readiness to launch in US after CFTC event contract ruling

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Key Takeaways Polymarket is set to launch US operations after the CFTC issued a no-action letter regarding event contracts. The company’s $112 million acquisition of QCEX’s holding company establishes Polymarket US and Polymarket Clearing for regulated prediction contract trading. Share this article Polymarket CEO Shayne Coplan said the Commodity Futures Trading Commission’s (CFTC) recent no-action letter on event contracts provides the regulatory clarity needed for the platform to go live in the US. In a statement praising the regulator, he described the process as completed in record time and called…

BlackRock CEO “Fascinated” by Bitcoin, Watching Closely

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Key Takeaways The chief executive officer of BlackRock said that he is not seeing significant institutional inflows or interest in cryptocurrency. BlackRock’s Larry Fink says cryptocurrency has the potential to evolve into a “great asset class.” Goldman Sach’s CEO expressed similar sentiments in an earnings call yesterday. Share this article The CEO of BlackRock, a firm with $8.6 trillion in assets under management (AUM), told the media the “cryptocurrency might become a great asset class.” However, there is “little” interest among institutional investors at the moment.  BlackRock’s Bitcoin Outlook The…

Blackrock CEO says crypto ‘may become a great asset class’ but is no substitute for currency

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Despite the successful rollout of Coinbase’s stock on Wednesday, Blackrock CEO Larry Fink still expressed some concerns over the institutional adoption of crypto. In an interview with CNBC’s Squawk Box on Thursday, Fink said he was “encouraged by how many people were focusing” on crypto and the narrative surrounding it, but he seemed to imply his views were largely unchanged in the wake of a major cryptocurrency exchange going public.  “[Crypto] may become a great asset class, and I do believe this could become a great asset class,” said Fink. “I…

Coinbase CEO Details New Revenue Streams Hours Before NASDAQ Listing

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Key Takeaways Brian Armstrong went on Squawk Box to discuss Coinbase’s business model. Investors are wary that the exchange relies too heavily on transaction fees. Armstrong said we will not see lower fees on Coinbase on the short-term. Share this article Brian Armstrong expects Coinbase Earn, its debit card, custody for institutional clients, and staking revenue to become more than half of the firm’s revenue. Coinbase Soothes Investor Worries In 2020, 96% of Coinbase’s revenue was generated through transaction fees. As competition in the space mounts, however, Armstrong’s firm will…

CEO says PayPal’s crypto commerce may reach $200M volume in just months

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As the price of Bitcoin continues to reach new all-time highs, major corporations with existing crypto offerings in place are beginning to discuss grand plans for the future.  Most recently, Dan Schulman, CEO of PayPal, hinted at future developments for PayPal’s crypto offering during Forbes’ “2021 Blockchain 50 Symposium: Crypto Goes Corporate,” an online event that took place on April 13. During a fireside chat with Michael del Castillo, associate editor at Forbes, Schulman mentioned that the financial system will undergo more changes over the next five years compared to…