Cryptexodus: A running list of crypto execs who’ve quit since May

The crypto market has been volatile since spring. While some executives have run for the hills, others have opted to transition to back-seat roles.

By Gabrielle Saulsbery • Nov. 14, 2022

Sam Bankman-Fried steps down as FTX CEO amid bankruptcy filing

FTX.com’s assets were frozen in the Bahamas, where the company is headquartered. Crypto lender BlockFi also paused withdrawals because of its exposure to FTX.

By Gabrielle Saulsbery • Nov. 11, 2022

Explore the Trendline➔

Artificial intelligence

Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?

By Banking Dive staff

Green Dot focuses on tech modernization amid leadership shakeup

The company named a CFO, COO and chief revenue officer, and said two BaaS partners recently extended their contracts.

By Suman Bhattacharyya • Nov. 11, 2022

Elon Musk wants to turn Twitter into ‘the people’s financial institution’

During a Thursday call with Twitter staff, Musk shared his plans to allow users to maintain a cash balance on the platform. He also hinted at the possibility of offering loans.

By Anna Hrushka • Nov. 11, 2022

SEC, DOJ probe FTX as Binance backs out of acquisition

Regulator investigations have been going on for months but came to light amid Binance’s now-canceled bid to purchase the exchange.

By Gabrielle Saulsbery • Nov. 10, 2022

How Upgrade became a ‘marketing engine’ for deposit-hungry banks

The neobank is leveraging its network of more than 200 community banks and credit unions to offer users one of the industry’s highest savings rates.

By Anna Hrushka • Nov. 9, 2022

Banks create guide to manage fintech due diligence

The framework isn’t meant to replace existing regulatory guidance, but rather help banks better implement it, said Alloy Labs Alliance CEO Jason Henrichs.

By Anna Hrushka • Nov. 9, 2022

Brex co-CEO: Fintech took ‘reputation hit’ after dropping customers

Co-CEO and co-founder Henrique Dubugras said he regrets how the company handled its refocus on larger startups. Ultimately, though, the shift cost Brex just 2% of its total revenue from all businesses.

By Caitlin Mullen • Nov. 9, 2022

Binance to acquire rival FTX amid ‘liquidity crunch’

FTX founder Sam Bankman-Fried announced the deal two days after Binance CEO Changpeng Zhao said he’d dump his holdings of FTX native coin FTT.

By Gabrielle Saulsbery • Nov. 8, 2022

Goldman launches digital asset classification system

Datonomy is intended to help institutional investors make sense of the new asset class.

By Gabrielle Saulsbery • Nov. 4, 2022

Digital bank Chime cuts 12% of workforce

Chime co-founder and CEO Chris Britt said the move would allow the company to flourish “regardless of market conditions," according to an internal memo.

By Gabrielle Saulsbery • Nov. 2, 2022

Here’s what Brett Harrison expects in the crypto market

The "decade of free money" is ending, but the future is bright, said the former president of FTX US. 

By Gabrielle Saulsbery • Oct. 27, 2022

Warren wants regulators to answer for crypto ‘revolving door’

Five Democrats wrote the SEC, CFTC, CFPB, OCC, FDIC, Fed and Treasury to see how the agencies’ policies keep employees who jump to crypto lobbying roles from exerting undue influence.

By Rajashree Chakravarty • Oct. 27, 2022

Marqeta launches demand deposit accounts in banking push

The company's suite of seven banking products includes early wage access, bill pay and instant funding. The latter two will be available in beta next year.

By Gabrielle Saulsbery • Oct. 25, 2022

Fed disputes allegations of favoritism over BNY Mellon crypto move

The central bank asserts Custodia’s complaint ignores "substantial differences" between the two banks’ business models.

By Anna Hrushka • Oct. 21, 2022

JPMorgan taps ex-Celsius exec for crypto legal post

The bank appears to be expanding its digital assets legal team despite CEO Jamie Dimon’s well-known skepticism. Aaron Iovine began the year at Cross River Bank before an eight-month stint at Celsius.

By Gabrielle Saulsbery • Oct. 19, 2022

Texas securities regulators investigate FTX, Sam Bankman-Fried

FTX shouldn't be allowed to buy Voyager's digital assets while the regulator is looking into whether the company is illegally offering interest-bearing accounts, an enforcement official asserted.

By Gabrielle Saulsbery • Oct. 18, 2022

Climate-conscious neobank Aspiration names new CEO

The leadership transition comes a year after the company announced plans to go public through a merger with special-purpose acquisition company InterPrivate III Financial Partners Inc.

By Anna Hrushka • Oct. 18, 2022

Custodia Bank accuses Fed of favoritism toward BNY Mellon

The Wyoming-based bank said the Fed’s warning last week on crypto is counter to allowing BNY Mellon to hold and transfer digital assets.

By Anna Hrushka • Oct. 13, 2022

4 takeaways from Michael Barr’s DC Fintech Week speech

The Federal Reserve’s vice chair for supervision stressed caution with banks’ ties to crypto and spotlighted what sets stablecoins apart from other digital assets.

By Dan Ennis • Oct. 13, 2022

Gen Z neobank Step launches crypto investing, rewards

The fintech, which claims to have more than 3 million customer accounts, said it is partnering with digital assets infrastructure and regulatory platform Zero Hash to offer transaction and custody services.

By Anna Hrushka • Oct. 12, 2022

Crypto exchange Bittrex to pay $29M to settle AML, sanctions charges

The exchange failed to file any suspicious activity reports for more than three years and allowed customers in Syria, Sudan, Iran, Cuba and the Crimea to make tens of thousands of transactions, two Treasury offices said Tuesday.

By Dan Ennis • Oct. 12, 2022

BNY Mellon set to take clients’ crypto

The move comes more than a year and a half after the bank laid out its intention to hold, transfer and issue digital assets. It received NYDFS approval within the past month.

By Dan Ennis • Oct. 11, 2022

OCC wants more data on banks’ crypto-related activities

Banks are already required to seek the OCC’s non-objection before engaging in crypto activity. But further enhancements may be needed “to track the risk of cross-contagion,” Acting Comptroller Michael Hsu said.

By Anna Hrushka • Oct. 11, 2022

Celsius co-founder Leon follows Mashinsky out

The crypto lending firm’s chief strategy officer, Shlomi Daniel Leon, has left the company, shortly after fellow co-founder Alex Mashinsky, joining a growing list of recently departed crypto executives.

By Gabrielle Saulsbery • Oct. 5, 2022