All Crypto stories

Brian Armstrong on the future of crypto

On this week’s episode of Free Lunch by The Peak, we sat down with Brian Armstrong to talk about what's going on with crypto in Canada and what the future holds for the industry.

Crypto optimism is blooming

As actual winter sets in, “crypto winter” seems like it could be coming to an end.

What happened: A surge has put Bitcoin prices over $56,500, as of the end of the day on Monday. Prices for the cryptocurrency are now up 152% so far this year, returning to price levels seen just before rising inflation led to a sell-off and subsequent crash in April 2022.

C ya, CZ

It feels like Earth-shattering developments upending the entire crypto industry are becoming a November tradition! Last year, it was FTX’s collapse. This year, it’s Binance paying billions.   

What happened: The world’s largest crypto exchange, will pay US$4.3 billion after pleading guilty to charges of money laundering, unlicensed money transmitting, and sanctions violations. As part of the deal, founder Changpeng “CZ” Zhao will step down as CEO.

SBF pleads his case

After securing enough Adderall to finally stand trial, ex-FTX CEO Sam Bankman-Fried was ready to sit before the judge in a last-ditch effort to save himself from the slammer. 

What happened: SBF took to the stand yesterday to testify in his own defence after the prosecution rested its case. In a surprise twist, the jury was not present for it — the judge dismissed them so that he could determine for himself if SBF’s testimony was permissible. 

Israel-Hamas war puts crypto back in the hot seat

Lawmakers in the U.S. are cracking down on cryptocurrency to disrupt funding to Hamas, bringing attention (once again) to digital currency’s darker uses.

Driving the news: The U.S. Treasury Department has proposed rules that would classify cryptocurrency mixers — which take funds, mix them with those from other users and return them to make tracing difficult — as money laundering tools that threaten national security.

Get up to speed on the SBF trial

As the trial of FTX founder Sam Bankman Fried crosses the halfway point, we thought we’d give you an update on how it’s going. Spoiler alert: Not great, for SBF.

Driving the news: It looks increasingly unlikely that SBF will beat the seven federal criminal charges levied against him, multiple former federal prosecutors told The Washington Post

NFTs are dead, long live NFTs

If you were kicking yourself last year for not getting in on the NFT craze, we’ve got good news... but if you have a stockpile of Bored Apes collecting digital dust, maybe skip to the Saturday crossword. 

Driving the news: A new report from crypto company dappGambl found that ~95% of all NFTs are now essentially worthless, with ~23 million people holding onto these “assets.”

What in the Worldcoin?

FTX is plotting a comeback

In what would be the most shocking comeback since Michael Jordan returned to the NBA (pick either time that it happened), bankrupt crypto exchange FTX wants a fresh start

What happened: Current CEO John Ray III has begun looking for interested parties to help revive its flagship international crypto exchange, per The Wall Street Journal. 

US regulators push crypto to the brink

The cryptocurrency sector is facing an existential crisis courtesy of Uncle Sam.

Driving the news: The Securities and Exchange Commission (SEC) set the stage for a high-stakes showdown with the biggest players in crypto last week, filing lawsuits against Binance and Coinbase, the largest crypto exchanges in the world and the US, respectively.