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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 […]
Fenika Bench
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 […]
FTX collapse wipes out the savings of crypto traders: ‘You feel like a fool’ | Economy and Business
It has been a terrible year for cryptocurrencies, and it’s not over yet. In the latest gut-punch of bad news, more than a million people have seen their investments wiped out. FTX – or the “Futures Exchange” – is a Bahamas-based cryptocurrency exchange that filed for bankruptcy on November 11, […]
Fame, fortune, and bankruptcy: A crypto star implodes
Federal prosecutors in Manhattan and US securities regulators are investigating what happened to billions of dollars in customer assets that FTX loaned — in violation of its own rules — to Alameda Research, another Bankman-Fried firm that traded crypto and invested in crypto companies. In addition, Alameda loaned $1 billion […]