Crypto

Coinbase to pay $100M After Crypto Probe Finds Compliance Fault

A disastrous year for cryptocurrencies culminated in the infamous November 2022 collapse of the now-bankrupt FTX exchange.

The rapid fall of FTX had devastating effects on the entire crypto-asset sector and led to several other bankruptcies.

Sam Bankman-Fried, the former FTX CEO, after a series of revelations and legal actions, ended up pleading not guilty to fraud and other charges on Jan. 3.

Three federal agencies (the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency) even issued a joint official statement warning banks of crypto risks, also on Jan. 3.

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