Sam Bankman-Fried, the now-former CEO of FTX, encouraged the cryptocurrency exchange’s customers to buy its own cryptocurrency, called the FTX Token. Saul Loeb/AFP via Getty Images hide caption toggle caption Saul Loeb/AFP via Getty Images Sam Bankman-Fried, the now-former CEO of FTX, encouraged the cryptocurrency exchange’s customers to buy its […]
After FTX collapse, pressure builds for tougher crypto rules
Dec 2 (Reuters) – Regulators must step in to protect crypto investors after the collapse of FTX, financial industry executives and lawmakers said at the Reuters NEXT conference this week, the latest call for tougher oversight of a sector prone to meltdowns. Policymakers have for years highlighted the need for […]
Crypto finance firm BlockFi files for bankruptcy following the fall of FTX
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The bankruptcy filing submitted in New Jersey lists Ankura Trust Company as its largest creditor, to the tune of $729 million, followed by FTX US at $275 million. The SEC is fourth on the list, owed $30 million as a result of penalties laid down earlier this year. BlockFi Chapter […]
Crypto crash may leave ad-supported businesses with hole in budget
Sergino Dest of USA and Milad Mohammadi of Iran battle for the ball during the FIFA World Cup Qatar 2022 Group B match between IR Iran and USA at Al Thumama Stadium on November 29, 2022 in Doha, Qatar. Matteo Ciambelli | Defodi Images | Getty Images There were Super […]
FTX Crypto Debacle Fuels Conservative Attacks on “Woke” Business
When cryptocurrency exchange FTX filed for bankruptcy this month, conservatives smelled blood in the water, given its 30-year-old founder Sam Bankman-Fried had been a Democrat super-donor who received sometimes fawning coverage from a mainstream media the right has for years accused of leftward bias. Bankman-Fried had made multi-million dollar donations […]
Crypto startup MoonPay hires Time president to lead enterprise
Keith Grossman, Time president TIMEPieces Artist Jeremy Cowart Time president Keith Grossman is leaving the legacy publisher to take on a new role as the president of enterprise at crypto startup MoonPay, effective December 31. Grossman joined Time in 2019, a year after Meredith Corporation sold the flagship magazine brand […]
FTX bankruptcy hearing unveils latest developments in crypto exchange’s collapse
Binance CEO Changpeng ‘CZ’ Zhao discusses the latest fallout from the FTX collapse and how that is expected to impact his company’s operation on ‘Varney & Co.’ Attorneys representing crypto exchange FTX peeled back the curtain on the company’s downfall at its first Chapter 11 bankruptcy hearing Tuesday, revealing […]
Bitcoin’s most basic principle has become crypto’s biggest problem
Sam Bankman-Fried’s exchange FTX has gone bankrupt and could, with its associated companies, owe money to a million creditors. Photo by Lam Yik/Bloomberg via Getty Images In Ernest Hemingway’s 1926 novel The Sun Also Rises one of the disillusioned young adults of the interwar era is asked how he became bankrupt. […]
Crypto assets worth $740M recovered in FTX bankruptcy so far
Congressmen French Hill and Jason Smith react to the latest developments about FTX founder Sam Bankman-Fried’s background on ‘The Evening Edit.’ The company contracted to recover assets of the failed cryptocurrency exchange FTX says it has managed to recover more than $740 million so far. However, it is just a […]
Crypto firm FTX raised red flags long before collapse: experts
Macro Trends Advisors’ Mitch Roschelle speaks on the latest developments in FTX’s collapse on ‘The Evening Edit.’ Hindsight makes clear the faulty foundation that preceded the collapse of crypto giant FTX in the past couple of weeks. Across finance, however, major players were taken by the meteoric rise of the […]