Latest news with #CryptoBlueChip
Time of India
a day ago
- Business
- Time of India
Shaquille O'Neal to pay $1.8 million to settle FTX class action lawsuit
Former NBA player Shaquille O'Neal will pay $1.8 million to settle a class action lawsuit related to the demise of cryptocurrency exchange FTX. O'Neal, and other celebrities like Tom Brady and Stephen Curry , were named in the lawsuit in 2022. They had been accused of touting FTX as a reputable and trustworthy investment option via paid endorsements. The proposed settlement only pertains to O'Neal. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dog licks arent kisses. Heres what your dog really means when it licks you. Cleverst Undo Three years ago FTX was the third-largest cryptocurrency exchange, but it ended up with billions of dollars worth of losses and had to seek bankruptcy protection. The Bahamas-based company and its founder, Sam Bankman-Fried, came under investigation by state and federal authorities for allegedly investing depositors funds in ventures without their approval. Crypto Tracker TOP COIN SETS DeFi Tracker 3.18% Buy BTC 50 :: ETH 50 0.46% Buy Crypto Blue Chip - 5 -0.49% Buy Web3 Tracker -7.67% Buy AI Tracker -10.02% Buy TOP COINS (₹) BNB 55,941 ( -1.6% ) Buy Bitcoin 8,983,727 ( -2.33% ) Buy XRP 183 ( -4.68% ) Buy Ethereum 216,498 ( -8.36% ) Buy Solana 12,435 ( -9.3% ) Buy Before its failure, FTX was known to use high-profile Hollywood and sports celebrities to promote its products. It had the naming rights to a Formula One racing team as well as a sports arena in Miami. Its commercials featured "Seinfeld" creator Larry David, as well as Brady, the former quarterback of the Tampa Bay Buccaneers and New England Patriots, basketball players O'Neal and Curry, and tennis star Naomi Osaka. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Bankman-Fried was sentenced to 25 years in prison in March 2024. A little more than a month after that, FTX said in a court filing that nearly all of its customers would receive the money back that they were owed. Live Events While the proposed settlement with O'Neal had been agreed to in April, the payment amount and other terms were disclosed in a filing with the U.S. District Court, Southern District of Florida, Miami Division, earlier this week. The settlement class includes anyone who deposited funds into FTX or bought its FTT token between May 2019 and late 2022. The agreement, which still needs court approval, would provide O'Neal with a broad release from future claims and also includes a stipulation that he can't seek reimbursement from the FTX estate. The payment will be made within 30 days of the settlement being finalized, according to the filing.
Time of India
09-05-2025
- Business
- Time of India
Coinbase quarterly profit falls as expenses climb, shares down
Crypto exchange Coinbase reported a drop in first-quarter profit on Thursday as a steep rise in costs more than offset revenue growth in its transaction and subscription units, sending its shares down 3% in extended trading. Total operating expenses soared 51% to $1.3 billion in the quarter, driven by increased marketing expenses as well as losses on crypto assets held for operations, the company said. U.S. President Donald Trump's erratic trade policy had triggered volatility across asset classes during the first three months of the year, rattling financial markets and triggering a sell-off in assets perceived as risky, such as crypto. Crypto Tracker TOP COIN SETS DeFi Tracker 12.10% Buy Crypto Blue Chip - 5 8.12% Buy Web3 Tracker 8.10% Buy NFT & Metaverse Tracker 5.80% Buy AI Tracker 5.67% Buy TOP COINS (₹) Ethereum 189,144 ( 21.94% ) Buy XRP 198 ( 9.08% ) Buy Bitcoin 8,839,348 ( 6.24% ) Buy BNB 53,688 ( 5.13% ) Buy Tether 86 ( 1.43% ) Buy However, its transaction revenue rose 17.3% to $1.26 billion. Revenue from the subscription and services unit, which houses businesses outside of trading, also jumped 37% to $698.1 million. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Total revenue rose to $2.03 billion from $1.64 billion a year earlier. That still missed analysts' expectations of $2.1 billion, according to data compiled by LSEG. Live Events The company earned adjusted net income of $526.6 million, or $1.94 per share, for the three months ended March 31, compared with $679.2 million, or $2.53 per share, a year earlier. The largest publicly traded cryptocurrency exchange said earlier in the day that it would buy derivatives exchange Deribit in a $2.9 billion deal to expand into the crypto options markets.
Time of India
09-05-2025
- Business
- Time of India
Bitcoin surpasses $103,000 as U.S.-U.K. trade deal fuels market optimism
Bitcoin reached $103,000 for the first time since February on Friday, driven by optimism surrounding a significant trade agreement between the United States and the United Kingdom, signaling potential relief from ongoing trade tensions. As of 6:48 am IST, Bitcoin was trading at $102,889, up 5.3% on the day, with intraday highs reaching $103,969. While still below its all-time high of $109,114 set in January, Bitcoin has made a strong recovery and is now in positive territory for the year. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo Ashish Singhal, Co-founder of CoinSwitch, attributed Bitcoin's resurgence to a combination of global policy changes, institutional confidence, and macroeconomic factors. He noted that the optimism surrounding U.S.-China and U.S.-U.K. trade talks, along with steady interest rates by the U.S. Federal Reserve, has had a positive impact on Bitcoin as a digital risk asset. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Crypto Tracker TOP COIN SETS DeFi Tracker 12.10% Buy Crypto Blue Chip - 5 8.12% Buy Web3 Tracker 8.10% Buy NFT & Metaverse Tracker 5.80% Buy AI Tracker 5.67% Buy TOP COINS (₹) Ethereum 189,144 ( 21.94% ) Buy XRP 198 ( 9.08% ) Buy Bitcoin 8,839,348 ( 6.24% ) Buy BNB 53,688 ( 5.13% ) Buy Tether 86 ( 1.43% ) Buy 'Bitcoin's recovery reflects a global convergence of policy shifts and institutional confidence,' Singhal said. He also highlighted the U.S. government's decision to establish a Strategic Bitcoin Reserve earlier this year, marking a historic embrace of digital assets at the sovereign level. This move, along with recent Bitcoin Strategic Reserve bills passed in Arizona and New Hampshire, signals growing support for Bitcoin at a policy level. Did you Know? The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors. View Details » Meanwhile, altcoins also saw significant gains. Ethereum surged 22%, XRP increased by 8.7%, and Solana rose 9.7%, among other notable movers. The global cryptocurrency market capitalization climbed 6.65% to $3.22 trillion, according to CoinMarketCap. Live Events Also Read: Crypto market regains bullish momentum amid economic shifts and institutional inflows Bitcoin's market cap surpassed $2 trillion, currently standing at $2.039 trillion, while trading volume surged 63.5% to $68.7 billion. The total volume of stablecoins now represents 93.89% of the total 24-hour cryptocurrency market volume, which amounts to $153.44 billion. Also Read: 5 timeless Warren Buffett quotes every investor should know ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
