Crypto firms are still reeling from a brutal market crash during the second quarter, triggered by the implosion of the terraUSD stablecoin and its paired cryptocurrency luna. Just a few months earlier, finance professionals were flocking from both the City of London and Wall Street to cryptoland. Now companies have been forced to cut jobs … Read more
The New York State Department of Financial Services fined the cryptocurrency trading unit of online brokerage Robinhood Markets Inc. $30 million for alleged anti-money laundering and cybersecurity violations, in the department’s first crypto enforcement action. Sign up for the newsletter WSJ | Risk and Compliance Journal Our morning Risk Report features information and news on … Read more
Cross River Bank, a small New Jersey-based community bank that caters to fintech companies, has hired cryptocurrency executive Benjamin Melnicki as head of compliance for its crypto team. Mr. Melnicki joined Cross River Bank last month to oversee cryptocurrency compliance. He left the cryptocurrency unit of trading platform Robinhood Markets Inc. in December after joining … Read more