The basketball star Kevin Durant and his company Thirty Five Ventures have signed a multiyear deal with Coinbase Global to promote the cryptocurrency platform across his businesses.

The funding is tied for the second-largest crypto- or blockchain-related venture capital deal of the year with FTX Trading’s $1 billion round in July, after Robinhood Markets' $3.4 billion raise in January, according to PitchBook data.

A new survey of industry executives finds substantial interest in cryptocurrencies and mergers but anxiety about competition from large technology companies.

The so-called reserves held by the issuers of stablecoins like Tether and USD Coin aren’t the risk-free assets that the term connotes. For all the public knows, they could largely consist of low-grade corporate debt.

Executives representing leading cryptocurrency firms such as Circle and FTX told Congress that some federal oversight of their industry is worthwhile, but they criticized a recent report by a Biden administration working group recommending that stablecoin issuance be limited to FDIC-insured banks.

The card network's new cryptocurrency advisory service aims to help financial institutions catch up with companies like Square and PayPal by spotting opportunities to support stablecoins, nonfungible tokens and central bank digital currencies.

The proceeds will support Silvergate’s network that facilitates cryptocurrency transactions and a leveraged lending product that provides loans collateralized by bitcoin.

President Biden says his administration is focused on policing cryptocurrency crimes to combat corruption globally and is taking advantage of a newly formed Department of Justice task force, according to an anti-graft report released Monday.

Some of the biggest names in crypto will head to Capitol Hill next week as lawmakers weigh new rules for the white-hot asset class.

Securities and Exchange Commission Chair Gary Gensler doubled down on his calls for more oversight of cryptocurrency trading platforms on Wednesday, offering new insight into his priorities as he seeks to crack down on the digital coin industry. 

Policymakers contend the fast-growing crypto sector poses many risks for consumers, but disagreements within the blockchain industry and Congress are expected to prevent the establishment of clear rules anytime soon.

The former PayPal president was hired to bring an entrepreneurial spirit to the social network, and he helmed major projects such as the Diem stablecoin. His exit raises questions about the direction of the businesses he oversaw.

Marcus, who joined Facebook in 2014 from PayPal, ran the Messenger service for years before moving over to form the company’s blockchain division in 2018.

Its goals are twofold: to be a financial intermediary between buyers and sellers on the Provenance blockchain and to use the technology to bring speed and efficiency to loans and other products.

The Office of the Comptroller of the Currency reaffirmed national banks' ability to offer cryptocurrency services — with the caveat that its permission is necessary. Meanwhile, it joined other regulators in previewing additional crypto-related guidance.

JPMorgan Chase Chief Executive Jamie Dimon quipped that his bank is likely to outlast China’s Communist Party, while reiterating his company’s commitment to doing business in the country.

Citigroup is looking to hire 100 people as part of a new push into digital assets inside its institutional business, according to a person familiar with the matter.

President Biden's announcement that he is reappointing Jerome Powell as chair of the Federal Reserve suggests that not much will change regarding supervision, capital requirements and approval of merger applications. But the still-open position for vice chair of supervision could go to a more progressive nominee.

The blockchain startup Figure Technologies and other firms held talks with U.S. regulators about how to issue a stablecoin that satisfies watchdogs amid deep Washington skepticism over the fast-growing corner of the cryptocurrency market.