In an industry milestone, cryptocurrency exchange Coinbase has become the first corporation within the crypto and blockchain space to be featured on the prominent Fortune 500 list. A 68-year-old annual tradition, the Fortune 500 list is synonymous with ranking the leading corporations in the United States by total revenue, as well as other quantifiable metrics such as percentage profit margins, assets and the number of employees, among others. Retail giant Walmart captured the top spot for the tenth consecutive year with $572,754 million in revenue and a growth of 2.4%. Amazon registered second place with $469,822 and 21.7%, while Apple …

Crypto derivatives exchange and nonfungible token (NFT) platform FTX is reportedly in the market for brokerage start-ups as part of its recently announced plans to expand support to stock trading. The firm announced last Thursday that its United States-based subsidiary FTX.US will be launching zero-commission stock trading via its application, allowing users to fund their accounts with fiat-backed stablecoins. According to a Monday report from CNBC — who cited sources that “asked not to be named because the deal talks were confidential” — the firm has held private meetings with at least three brokerage startups over the past few months …

Major cryptocurrency exchange FTX is moving into equity trading, with its United States-based subsidiary FTX US launching a stock trading platform. West Realm Shires Services, the owner and operator of FTX US, announced on Thursday the upcoming launch of FTX Stocks, a stock trading service offered directly through the FTX US trading app. The new stock trading platform will feature trading and investing in hundreds of U.S. exchange-listed shares, including common stocks and exchange-traded funds. According to the announcement, FTX Stocks will be the first platform to ever allow retail investors to fund their accounts with fiat-backed stablecoins like USD …

Andrea Salinas has won the Democratic primary election for the newly created Oregon 6th District seat in the United States House of Representatives. Practically since it started, the election race was the object of intensive media attention, which most often centered around Salinas’ opponent Carrick Flynn, whose campaign was generously funded by the Protect Our Future political action committee (PAC) backed by billionaire FTX CEO Sam Bankman-Fried. The PAC paid for a flood of advertising supporting Flynn. Salinas won the seat with 38% of the vote, while Flynn came in second at 19%, with the remaining votes split among seven …

Bitcoin (BTC) bounced 19% from the $25,400 low on May 12, but has investor confidence in the market been restored? Judging by the ascending channel formation, it’s possible that bulls at least have plans to recover the $30,000 level in the short term. Does derivatives data support reclaiming $30,000, or is Bitcoin potentially heading to another leg down after failing to break above $31,000 on May 16? Bitcoin price falters in the face of regulatory concerns and the Terra debacle One factor placing pressure on BTC price could be the Luna Foundation Guard (LFG) selling 80,081 Bitcoin, or 99.6%, of …

Sam Bankman-Fried, the founder of crypto exchange FTX, has criticized the efficiency of Bitcoin (BTC) as a payment network, only to meet heavy backlash from the crypto community. During an interview with the Financial Times, Bankman-Fried fueled environmental concerns associated with the Bitcoin network’s mining consensus proof-of-work (PoW) and claimed it's not scalable enough to accommodate millions of transactions. He advocated for the use of proof-of-stake (PoS) mining consensus instead and claimed it is better suited for blockchain payment networks. He said: “Things that you’re doing millions of transactions a second with have to be extremely efficient and lightweight and …

Sam Bankman-Fried, the billionaire founder and CEO of cryptocurrency exchange FTX, has acquired a substantial 7.6% stake in the popular online brokerage, Robinhood. The news was well-received by the market, with Robinhood’s stock price initially soaring over 30% in after-hours trading. At the time of writing, the price has settled to a 24% overall gain. According to a securities filing made with the United States Securities and Exchange Commission (SEC) on Thursday, Bankman-Fried purchased a total of $648 million in Robinhood shares at an average price of $11.52. The purchases disclosed by Bankman-Fried reportedly began in mid-March and continued until …

The crypto community and Wall Street converged last week in Nassau, Bahamas, to discuss the future of digital assets during SALT’s Crypto Bahamas conference. The SkyBridge Alternatives Conference (SALT) was also co-hosted this year by FTX, Sam Bankman-Fried’s cryptocurrency exchange. Anthony Scaramucci, founder of the hedge fund SkyBridge Capital, kicked off Crypto Bahamas with a press conference explaining that the goal behind the event was to merge the traditional financial world with the crypto community: “Crypto Bahamas combines the crypto native FTX audience with the SkyBridge asset management firm audience. We are bringing these two worlds together to create a …

This week, the crypto community headed to Nassau in the Bahamas for the inaugural Crypto Bahamas conference. Like most conferences, panels fill up the agenda and on Wednesday the topics at Crypto Bahamas ranged from nonfungible tokens (NFTs) to crypto in sports and to asset allocation in Web3. During one particular conversation, titled “Evolution of NFTs: Culture, Utility and Regulation,” panelists had some insightful musings on the NFT market. To put the Crypto Bahamas conference into context, Sam Bankman-Fried’s cryptocurrency exchange FTX moved its headquarters from Hong Kong to the Bahamas in September 2021. It recently inked a multi-year partnership …

Goldman Sachs is reportedly pursuing an alliance with one of the top cryptocurrency exchanges FTX. The CEO of Goldman Sachs David Solomon reportedly met with Sam Bankman-Fried, the founder of FTX in a closed-door meeting in March to discuss various prospects of working together, reported the Financial Times. According to the report, the major points of discussion were around mitigating regulatory compliance in the United States and Goldman Sachs offered to help them, especially with the Commodity Futures Trading Commission (CFTC). Apart from regulatory assistance, the Wall Street bank also offered to help with future funding rounds. The latest report …

Sam Bankman-Fried’s cryptocurrency exchange FTX continues aggressively investing in traditional finance, with the United States-based affiliate FTX US investing in Investors Exchange (IEX), a U.S. national stock exchange. FTX US has signed an agreement to make a strategic investment in the IEX’s operator IEX Group to jointly establish a market structure for buying, selling and trading digital asset securities, the firm announced to Cointelegraph on Tuesday. IEX and FTX US expect to close the deal in May 2022, subject to customary closing conditions and regulatory approval. The new collaboration aims to provide services for retail and institutional investors. IEX is …

Indignant gamers have review bombed Storybook Brawl on Steam over fears of potential NFT and blockchain integrations following crypto exchange FTX’s acquisition of its developers Good Luck Games, LLC. Storybook Brawl is a free-to-play auto-battle card game that was launched on online gaming platform Steam in mid-2021. The game’s review history showed an overwhelming amount of support until March 22, the exact day FTX US announced its acquisition. Since that time, the game has moved to an “overwhelmingly negative” status with 600 out the last 761 reviews being negative. While it is possible for anyone who hasn’t played the game …