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Jon Victor

Blockchain CEO Peter Smith. Photo: Bloomberg

Startups Markets

Executive Departures Roil Crypto Firm Blockchain

By Jon Victor · Oct. 2, 2019 7:02 AM PDT · 1 comment

Five years ago, the cryptocurrency startup Blockchain was seen as a rising star within the burgeoning field. Equipped with a conspicuous name and a practical-sounding plan to help consumers store crypto assets, it attracted $70 million in venture capital over several years from prominent funders.But behind the scenes, the London-based startup... Five years ago, the cryptocurrency startup Blockchain was seen as a rising star within the...

Crypto Newsletter

Crypto

What I Learned Covering Crypto

By Jon Victor · Aug. 28, 2019 12:05 PM PDT · 2 comments

This will be my last edition of the crypto newsletter. I'm leaving The Information to take some time off and then go back to school. It has been a joy to dig into these topics each week—and even better to hear from you along the way. The newsletter will be back soon after a short hiatus. To cap off my time covering crypto,... This will be my last edition of the crypto newsletter. I'm leaving The Information to take...

Startups Crypto

Binance Launches Lending Product

Aug. 26, 2019 · 2:22 PM PDT

E-commerce Crypto

Overstock CEO Resigns

Aug. 22, 2019 · 2:26 PM PDT

Crypto Newsletter

Facebook Crypto

Why Binance Stands a Chance Against Facebook

By Jon Victor · Aug. 21, 2019 12:01 PM PDT

Crypto exchanges located outside the U.S. have maneuvered to avoid being subject to rules by U.S. financial regulators and law enforcement agencies, as I described last week. Now, we have one more data point to add to that conversation: A New York judge rejected Bitfinex’s claim that the New York attorney general’s office, which is... Crypto exchanges located outside the U.S. have maneuvered to avoid being subject to rules by U.S....

Facebook Crypto

Crypto Exchange Plans Libra Rival

Aug. 19, 2019 · 10:43 AM PDT

Bakkt Sets September Launch Date for Bitcoin Futures

Aug. 16, 2019 · 1:54 PM PDT

Exchange Rules Spark Conflict

By Jon Victor · Aug. 14, 2019 12:29 PM PDT

Crypto Newsletter

Startups Policy

Exchange Rules Spark Conflict

By Jon Victor · Aug. 14, 2019 12:29 PM PDT

I was monitoring bitcoin’s price on Wednesday morning, as investors dumped stocks after government bond prices warned of a potential U.S. recession. The idea that bitcoin is untethered to any traditional assets, making it a good investment in times of market uncertainty, has gained traction in recent months. But the jury is still out on... I was monitoring bitcoin’s price on Wednesday morning, as investors dumped stocks after...

Crypto Newsletter

Startups Crypto

Another Rival for Coinbase, Gemini

By Jon Victor · July 31, 2019 12:20 PM PDT

Crypto went to Washington yet again this week. This time, Congress was exploring whether it should pass new laws to govern the industry. Jeremy Allaire, CEO of Circle, which recently moved some operations offshore, told lawmakers at the hearing that uncertainty around regulation is prompting crypto companies to leave the U.S.His comments echoed... Crypto went to Washington yet again this week. This time, Congress was exploring whether it...

Crypto

More Executive Departures Hit Coinbase

July 30, 2019 · 3:11 PM PDT

IRS Warns Crypto Traders of Tax Obligations

July 26, 2019 · 1:19 PM PDT

Lawsuit Alleges Financial Irregularities at Token

By Jon Victor · July 24, 2019 12:04 PM PDT

Crypto Newsletter

Startups Crypto

Lawsuit Alleges Financial Irregularities at Token

By Jon Victor · July 24, 2019 12:04 PM PDT

A highly anticipated lunch between Warren Buffett and members of the crypto industry was postponed this week, in dramatic fashion. Justin Sun, the creator of the Tron blockchain, made waves last month when he won a charity auction for the chance to dine with the Oracle of Omaha. The waves spread when, earlier this week, Mr. Sun unexpectedly... A highly anticipated lunch between Warren Buffett and members of the crypto industry was...

Crypto Startup Circle Moves Some Operations Offshore

July 22, 2019 · 1:51 PM PDT

Coinbase CEO Brian Armstrong. Photo by Bloomberg

Startups Crypto

Inside Coinbase’s Executive Turmoil: Conflicting Visions

By Jon Victor · July 22, 2019 7:00 AM PDT · 4 comments

In late 2017, with prices of cryptocurrencies like bitcoin surging, Coinbase CEO Brian Armstrong faced a tough choice: Would his company, the leading U.S. cryptocurrency exchange, become more like a traditional financial services company or would it lean into the industry’s wild side?In the end, Mr. Armstrong hired deputies who pursued... In late 2017, with prices of cryptocurrencies like bitcoin surging, Coinbase CEO Brian Armstrong...

CFTC Said to Be Investigating Crypto Exchange BitMEX

July 19, 2019 · 8:24 AM PDT

Lawmakers Grapple With How to Rein In Libra

By Jon Victor · July 17, 2019 1:11 PM PDT

Crypto Newsletter

Policy Facebook

Lawmakers Grapple With How to Rein In Libra

By Jon Victor · July 17, 2019 1:11 PM PDT

Greetings from Washington, D.C. The price of bitcoin took a slight hit this week, after Facebook’s David Marcus testified at two hearings on Capitol Hill about the social media giant’s plans for Libra. Mr. Marcus, whom we profiled this week, fielded questions on a variety of topics, from how Facebook would stop Libra from being used... Greetings from Washington, D.C. The price of bitcoin took a slight hit this week, after...

Policy Facebook

Facebook, Senators Clash Over Libra Cryptocurrency Plans

July 16, 2019 · 10:31 AM PDT

Facebook's David Marcus. Photo by Bloomberg

Facebook Crypto

Facebook’s Marcus in Spotlight with Libra Hearings

By Alex Heath and Jon Victor · July 16, 2019 6:00 AM PDT

In February 2018—as rumors swirled about Facebook’s interest in supporting cryptocurrencies in its apps—one of the company’s top executives, David Marcus, told a gathering of venture capitalists in Los Angeles not to hold their breath about such a plan. Mr. Marcus, the former president of PayPal who had... In February 2018—as rumors swirled about Facebook’s interest in supporting...

Policy Facebook

Treasury Secretary Criticizes Facebook Crypto Plans

July 15, 2019 · 3:17 PM PDT

Lawmakers to Grill Facebook on Libra Plans

By Jon Victor and Ashley Gold · July 10, 2019 12:18 PM PDT

Crypto Newsletter

Policy Facebook

Lawmakers to Grill Facebook on Libra Plans

By Jon Victor and Ashley Gold · July 10, 2019 12:18 PM PDT

Get ready for another deluge of Libra headlines. The head of Facebook’s crypto project, David Marcus, is set to testify before Congress twice next week, in hearings that are shaping up to be contentious.Some House lawmakers already have asked Facebook to halt all work on Libra until after the hearings, but the company not surprisingly... Get ready for another deluge of Libra headlines. The head of Facebook’s crypto project,...