The cryptocurrency lender BlockFi is preparing to file for bankruptcy within days, according to people with knowledge of the matter who asked not to be named because discussions are private.

Despite the massive losses and growing criticism that the industry is rife with fraudsters and Ponzi schemes, a dozen industry employees interviewed by Bloomberg News said that while they're rattled by the crisis, they remain committed to crypto and its potential.

While many of the details around FTX's remarkable collapse will only be revealed as it progresses through bankruptcy, interviews with FIA conferencegoers this week show they're facing a reckoning of their own.

The fall of a major cryptocurrency exchange and subsequent drop in digital currency prices represent an opportunity to some bankers, who say investors and businesses will turn to regulated companies for crypto help.

The Federal Reserve's vice chair for supervision, in his first appearance before Congress since being confirmed, testified that the banking industry has been spared so far from the chaos in cryptocurrency markets. But he warned that too little is known about nonbank activities that could "blow back" to the regulated financial system.

Republicans and Democrats have made constructive inroads toward drafting a stablecoin bill this Congress. The next Congress needs to build on that progress — and think bigger.

Voyager Digital Ltd. is trying to sign a deal to sell itself to one of the bidders that lost the auction for the bankrupt crypto lender, after the winner of that auction, FTX, was itself forced into insolvency proceedings.

A Federal Reserve Bank of New York unit will partner with almost a dozen banks and other financial institutions to test out digital dollars, a sign that Wall Street intends to push ahead with its cryptocurrency agenda despite recent upheaval in the market. 

The stunning collapse of the cryptocurrency platform FTX is being investigated by federal prosecutors in Manhattan, people familiar with the inquiry said.

In hindsight, Sam Bankman-Fried's April interview with Bloomberg's "Odd Lots" podcast was a harbinger of his epic collapse last week. He described a "box" that has value only because other people put money in it, and, when confronted with the idea that he described a Ponzi scheme, admitted there was a "depressing amount of validity" to that.