Bitcoin

The bankrupt crypto lender BlockFi plans to sell about $160 million of loans backed by around 68,000 bitcoin mining machines, according to two people familiar with the matter.

The crypto rebound has gained so much speculative vigor that even tokens torpedoed last year by their dependence on the discredited mogul Sam Bankman-Fried have rallied, with some more than doubling this month.

Lenders are getting creative as to what to do with the mining machines they accepted as collateral for the some $4 billion in rig-backed loans they underwrote when the rally in bitcoin seemed unstoppable.

Customer outflows from Binance's cryptocurrency trading platform are slowing, according to blockchain data from two digital-asset analytics firms.

With skepticism about cryptocurrency growing among members of Congress, a handful of lawmakers, including Republican Sens. Cynthia Lummis of Wyoming and Pat Toomey of Pennsylvania, are trying to convince colleagues that the FTX fiasco doesn't diminish the underlying value of digital currency.

FV Bank will let customers hold, transfer and settle both digital assets and fiat currencies in one account.

New developments in the banking app space include apps for Gen Z bankers and the relaunch of Google Wallet.

The crypto custodian Copper Technologies has obtained $196 million in fresh funding this year, as part of an ongoing series C investment in the business.

Grayscale Investments, the largest crypto asset manager, said the Securities and Exchange Commission acted arbitrarily earlier this year in rebuffing a bid to convert its $12 billion spot bitcoin trust into an exchange-traded fund.

U.S. lawmakers' efforts to pass significant crypto legislation by the end of the year are on life support, leaving in place Washington's scattershot approach to digital coins.