When U.S. banks fell like dominoes during the Great Depression, the cause was often a classic run: Depositors withdrew cash en masse amid fears that lenders were amassing huge losses on bad loans and investments. The cryptocurrency era just put a new twist on that.

U.S. authorities are ratcheting up pressure on Sam Bankman-Fried's inner circle as they scrutinize former close FTX associate Nishad Singh, according to people familiar with the matter.

The Securities and Exchange Commission is pushing back on Binance.US's plan to buy the bankrupt crypto lender Voyager Digital, a deal valued at about $1 billion, according to a bankruptcy court filing.

Nadine Chakar will take the helm at Securrency from current CEO Dan Doney, who will become chief technology officer.

Genesis Global Trading has laid off more than 60 employees in its latest round of job cuts, amounting to roughly 30% of the troubled crypto brokerage's workforce.

Former Celsius Network Chief Executive Alex Mashinsky, whose once highflying crypto lender went bankrupt last year, was sued for fraud by the New York attorney general — the latest fallout from turmoil in the industry.

The crypto broker Genesis told clients in a new update that it needs more time to come up with a solution for the troubles at its lending unit.

Coinbase Global, the largest U.S. cryptocurrency exchange, said its U.S. unit reached a $100 million settlement with New York regulators for letting customers open accounts with insufficient background checks.

In a joint statement, the Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency said issuing and holding cryptocurrencies is "likely to be inconsistent with safe and sound banking practices."

FTX founder Sam Bankman-Fried pleaded not guilty to criminal charges Tuesday, a move that lays the foundation for one of the most high-profile white-collar fraud trials in recent years.