Binance plans to buy FTX's non-U.S. operations in latest crypto bailout
2 years, 1 month ago

Binance plans to buy FTX's non-U.S. operations in latest crypto bailout

The Hindu  

Crypto giant Binance signed a nonbinding agreement to buy rival FTX's non-U.S. unit, FTX.com, to help cover a "liquidity crunch" at the cryptocurrency exchange, the companies said on Tuesday, in a surprise move that raised fresh concerns about the risks investors face in the volatile crypto market. Binance CEO Changpeng Zhao said in a tweet that FTX, run by billionaire Sam Bankman-Fried, had "asked for our help" after "a significant liquidity crunch." "Liquidity crunch issues continue to haunt the crypto market," said Dan Raju, CEO of Tradier, a financial services provider and brokerage. "It's scary to think that FTX, which is one of the largest crypto exchanges in the world, was bitten by liquidity concerns, and Binance, their biggest rival, is coming to their rescue.

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History of this topic

FTX ordered to pay $12.7 billion in massive crypto fraud case
4 months, 2 weeks ago

FTX ordered to pay $12.7 billion in massive crypto fraud case

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A court has ordered …

A timeline of the collapse at FTX
7 months, 2 weeks ago

A timeline of the collapse at FTX

Associated Press  

FTX, once among the largest cryptocurrency exchanges in the world, said this week that nearly all of its customers will receive the money back that they are owed, two years after its monumental collapse. Here is a timeline of what led up to this week’s announcement after an implosion at FTX kicked off what many had expected to become a …

FTX will return money to most customers less than 2 years after catastrophic crypto collapse
7 months, 2 weeks ago

FTX will return money to most customers less than 2 years after catastrophic crypto collapse

Associated Press  

FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that. FTX was the third-largest cryptocurrency exchange in the world when it filed for bankruptcy protection in November 2022 after it experienced the crypto equivalent of a bank run. “We …

Binance founder Changpeng Zhao sentenced to 4 months for allowing money laundering
7 months, 3 weeks ago

Binance founder Changpeng Zhao sentenced to 4 months for allowing money laundering

Associated Press  

SEATTLE — Changpeng Zhao, founder of the world’s largest cryptocurrency exchange, was sentenced Tuesday to four months in prison for looking the other way as criminals used the platform to move money connected to child sex abuse, drug trafficking and terrorism. “I deeply regret my failure, and I am sorry.” But the judge said he was troubled by Zhao’s decision …

What happened to FTX? The collapse of Sam Bankman-Fried’s crypto ‘house of cards’
8 months, 3 weeks ago

What happened to FTX? The collapse of Sam Bankman-Fried’s crypto ‘house of cards’

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. The crypto magnate, whose wealth was estimated as high as $26bn, testified before Congress in December that …

A timeline of the downfall of Sam Bankman-Fried and the colossal failure of FTX
8 months, 3 weeks ago

A timeline of the downfall of Sam Bankman-Fried and the colossal failure of FTX

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The founder and former CEO of the massive cryptocurrency …

Inside Binance’s Guilty Plea and the Biggest Fine in Crypto History
1 year, 1 month ago

Inside Binance’s Guilty Plea and the Biggest Fine in Crypto History

Live Mint  

The king of crypto’s largest outlaw empire told employees for years that he would never turn himself in. Hours earlier, Zhao and his company, Binance, agreed to plead guilty to resolve a Justice Department criminal investigation that has dogged the world’s largest cryptocurrency exchange almost since its launch. Zhao also bowed to pressure in September from the DOJ to sell …

Largest crypto exchange Binance fined $4 billion, CEO Changpeng Zhao pleads guilty to not stopping money laundering
1 year, 1 month ago

Largest crypto exchange Binance fined $4 billion, CEO Changpeng Zhao pleads guilty to not stopping money laundering

The Hindu  

The U.S. government dealt a massive blow to Binance, the world’s largest cryptocurrency exchange, which agreed to pay a roughly $4 billion settlement Tuesday as its founder and CEO Changpeng Zhao pleaded guilty to a felony related to his failure to prevent money laundering on the platform. As part of the settlement agreement, the U.S. Treasury said Binance will be …

Founder of Binance, world’s largest crypto exchange, pleads guilty to anti-money laundering charge
1 year, 1 month ago

Founder of Binance, world’s largest crypto exchange, pleads guilty to anti-money laundering charge

Hindustan Times  

The founder of Binance, the world’s largest cryptocurrency exchange, pleaded guilty Tuesday to a felony charge that he failed to take steps to prevent money laundering as the company agreed to pay more than $4 billion following an investigation by the U.S. government. Binance CEO Changpeng Zhao CEO Changpeng Zhao pleaded guilty to one count of failure to maintain an …

Largest crypto exchange Binance fined $4 billion, CEO pleads guilty to not stopping money laundering
1 year, 1 month ago

Largest crypto exchange Binance fined $4 billion, CEO pleads guilty to not stopping money laundering

Associated Press  

WASHINGTON — The U.S. government dealt a massive blow to Binance, the world’s largest cryptocurrency exchange, which agreed to pay a roughly $4 billion settlement Tuesday as its founder and CEO Changpeng Zhao pleaded guilty to a felony related to his failure to prevent money laundering on the platform. As part of the settlement agreement, the U.S. Treasury said Binance …

Binance crypto exchange founder to step down amid US illicit finance probe
1 year, 1 month ago

Binance crypto exchange founder to step down amid US illicit finance probe

Al Jazeera  

Changpeng Zhao, founder of Binance, the world’s largest cryptocurrency exchange, has stepped down as CEO and pleaded guilty to violating anti-money laundering laws. “Binance became the world’s largest cryptocurrency exchange in part because of the crimes it committed. “In just the past month, the Justice Department has successfully prosecuted the CEOs of two of the world’s largest cryptocurrency exchanges in …

Binance, CEO Zhao to seek dismissal of US watchdog’s complaint
1 year, 5 months ago

Binance, CEO Zhao to seek dismissal of US watchdog’s complaint

Al Jazeera  

Binance and its CEO and founder Changpeng Zhao are planning to seek the dismissal of a US Commodity Futures Trading Commission complaint accusing the crypto exchange of violating the United States Commodity Exchange Act and certain related federal regulations. The CFTC in March sued Binance, the world’s biggest crypto exchange, and Zhao for operating what the regulator alleged was an …

FTX begins talks to relaunch international cryptocurrency exchange
1 year, 5 months ago

FTX begins talks to relaunch international cryptocurrency exchange

The Hindu  

Bankrupt FTX is moving ahead with efforts to revive its flagship international cryptocurrency exchange, the Wall Street Journal reported on Wednesday, citing CEO John Ray. The company "has begun the process of soliciting interested parties to the reboot of the FTX.com exchange," Ray said, according to the Journal's report. The failed crypto company has been holding talks with investors about …

Binance, SEC agree to allow only US employees to access customer funds: Report
1 year, 6 months ago

Binance, SEC agree to allow only US employees to access customer funds: Report

Live Mint  

US securities regulator, Binance and Binance.US have entered into an agreement that allows Binance.US employees to ccess customer funds in the short term, reported Reuters on basis of court documents. The agreement noted that Binance US will take steps to make sure that no Binance Holdings officials have access to private keys for its various wallets, hardware wallets or root …

Binance.US Suspends USD Deposits After Crackdown by Regulators
1 year, 6 months ago

Binance.US Suspends USD Deposits After Crackdown by Regulators

News 18  

Crypto exchange Binance.US said on Thursday it is suspending US dollar deposits and that its banking partners are preparing to pause fiat dollar withdrawal channels as early as June 13, just days after US regulators sued Binance and its CEO Changpeng Zhao. The US arm of the world’s largest crypto exchange said in a tweet at 10:33 p.m. EDT on …

Why Binance, the world’s largest cryptocurrency exchange, is in trouble
1 year, 6 months ago

Why Binance, the world’s largest cryptocurrency exchange, is in trouble

Firstpost  

After the fall of FTX, now crypto giant Binance seems to be in hot water. Zhao and Binance publicly claimed that US customers were barred from transacting on Binance.com, but the platform “secretly” allowed high-value customers to keep trading, the SEC said. The agency said Binance’s chief compliance officer admitted that: “We do not want.com to be regulated ever.” From …

Crypto giant Binance controlled ‘independent’ U.S. affiliate’s bank accounts
1 year, 6 months ago

Crypto giant Binance controlled ‘independent’ U.S. affiliate’s bank accounts

The Hindu  

A senior Binance executive was the main operator for five bank accounts belonging to the giant cryptocurrency exchange’s purportedly independent U.S. affiliate, including an account that held American customers’ funds, bank records show. Juvvadi said an investigation Binance.US conducted into Reuters’ previous findings found they were “simply not true.” Reuters also reported on May 23 that Binance commingled its customers’ …

The SEC sues Binance, unveils 13 charges against crypto exchange in sweeping lawsuit
1 year, 6 months ago

The SEC sues Binance, unveils 13 charges against crypto exchange in sweeping lawsuit

NPR  

The SEC sues Binance, unveils 13 charges against crypto exchange in sweeping lawsuit Enlarge this image toggle caption Patricia De Melo Moreira/AFP via Getty Images Patricia De Melo Moreira/AFP via Getty Images U.S. regulators are targeting more giants in the world of crypto. On Monday, it filed 13 charges against Binance, which operates the world's top crypto exchange, as well …

Binance accused in SEC lawsuit of mishandling funds, violating securities laws
1 year, 6 months ago

Binance accused in SEC lawsuit of mishandling funds, violating securities laws

LA Times  

Binance and its founder Changpeng Zhao, seen during a Zoom call, are being sued by the U.S. Securities and Exchange Commission. Binance, the world’s largest cryptocurrency exchange, and founder Changpeng Zhao are accused of misusing investor funds, operating as an unregistered exchange and violating a slew of U.S. securities laws in a lawsuit by the Securities and Exchange Commission. The …

US regulator sues top crypto exchange Binance, CEO
1 year, 8 months ago

US regulator sues top crypto exchange Binance, CEO

Al Jazeera  

The world’s biggest crypto exchange Binance and its CEO and founder Changpeng Zhao are being sued by the Commodity Futures Trading Commission in the United States for operating what the regulator alleges were an “illegal” exchange and a “sham” compliance programme. Binance’s compliance programme has been “ineffective” and the firm, under the direction of Zhao, told employees and customers to …

Binance and founder Changpeng Zhao sued by CFTC
1 year, 8 months ago

Binance and founder Changpeng Zhao sued by CFTC

Associated Press  

Binance and its founder Changpeng Zhao are being sued by the Commodity Futures Trading Commission for numerous alleged violations of the Commodity Exchange Act and CFTC regulations. In its complaint, the CFTC claimed that cryptocurrency exchange giant Binance “allegedly chose to knowingly disregard applicable provisions of the CEA while engaging in a calculated strategy of regulatory arbitrage to their commercial …

FTX reports $415 million in hacked crypto, Bankman-Fried says FTX U.S. is solvent
1 year, 11 months ago

FTX reports $415 million in hacked crypto, Bankman-Fried says FTX U.S. is solvent

The Hindu  

Bankrupt crypto exchange FTX said in a report to creditors on January 17 that about $415 million in cryptocurrency had been stolen in hacks. Mr. Bankman-Fried, who has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, Alameda Research, pushed back against FTX's calculations late Tuesday, saying that the company's …

FTX reports $594 million in hacked crypto, Sam Bankman-Fried says FTX US is solvent
1 year, 11 months ago

FTX reports $594 million in hacked crypto, Sam Bankman-Fried says FTX US is solvent

ABC  

Bankrupt crypto exchange FTX has said in a report to creditors that about $US415 million in cryptocurrency had been stolen in hacks. Key points: Cryptocurrency exchange FTX filed for bankruptcy in November after a series of suspicious transactions came to light The company says it has lost $594 million to hackers since that date, exacerbating a shortfall in funds Former …

Crypto Recap 2022: feats and clashes that defined the year
1 year, 11 months ago

Crypto Recap 2022: feats and clashes that defined the year

The Hindu  

As the year began, Bitcoin was already crashing but major investors - such as El Salvador’s President Nayib Bukele - were still positive that the largest cryptocurrency by market capitalisation would hit a price of $100,000 before 2023. 2022 predictions on #Bitcoin: •Will reach $100k •2 more countries will adopt it as legal tender •Will become a major electoral issue …

Crypto giant Binance offers little transparency after FTX collapse
2 years ago

Crypto giant Binance offers little transparency after FTX collapse

Live Mint  

The collapse of the crypto exchange FTX has triggered calls for transparency in the industry. Binance.US told the Journal at the time that the exchange had robust data protection and that U.S. customer data was stored on servers in the U.S. “Binance does not operate in China nor do we have any technology, including servers or data, based in China," …

Explained: How the collapse of FTX is giving Binance a chance to become the new face of crypto
2 years ago

Explained: How the collapse of FTX is giving Binance a chance to become the new face of crypto

Firstpost  

Binance began taking steps in the past year to scrub its reputation as a shadowy giant with no headquarters that doesn’t always follow the rules. “I need your help for the sake of the industry and users.” Zhao, founder of Binance, the world’s largest cryptocurrency exchange, initially agreed to provide a loan and buy FTX to save it. “They were …

After FTX collapse, Sam Bankman-Fried arrested: What went wrong with the crypto giant?
2 years ago

After FTX collapse, Sam Bankman-Fried arrested: What went wrong with the crypto giant?

Firstpost  

FTX was founded in 2019 by ex-Wall Street trader Sam Bankman-Fried and former Google employee Gary Want. Let’s take a closer look: FTX’s incredible rise The company was founded by Bankman-Fried, an ex-Wall Street trader and former Google employee Gary Want in 2019. Bankman-Fried issued a “sincere” apology, adding FTX would do “everything we can to raise liquidity.” A day …

Timeline: The rise and spectacular fall of FTX
2 years ago

Timeline: The rise and spectacular fall of FTX

Al Jazeera  

The crypto exchange was founded in 2019 and attracted big-name investors such as Singapore’s Temasek. November 2: Crypto news website CoinDesk reports a leaked balance sheet that shows Alameda Research, Bankman-Fried’s crypto trading firm, was heavily dependent on FTX’s native token, FTT. November 11: FTX starts voluntary Chapter 11 proceedings in the US, along with its US unit, crypto trading …

Crypto exchange FTX
2 years ago

Crypto exchange FTX

ABP News  

San Francisco, Dec 11 In the wake of the collapse of crypto exchange FTX, the US Securities and Exchange Commission has directed publicly-traded companies to tell investors about their involvement with struggling cryptocurrency firms. The SEC, in a letter to the companies, said that recent bankruptcies and financial distress among crypto asset market participants have caused widespread disruption in those …

Ex-FTX CEO Bankman-Fried says he will testify to Congress
2 years ago

Ex-FTX CEO Bankman-Fried says he will testify to Congress

The Hindu  

The former CEO of the failed cryptocurrency exchange FTX said in a tweet Friday that he is willing to testify to Congress next week, but that he will be limited in what he can say and that he “won't be as helpful” as he'd like to be. Waters, a California Democrat, said in a series of tweets to Mr. Bankman-Fried …

Ex-FTX CEO Bankman-Fried says he will testify to Congress
2 years ago

Ex-FTX CEO Bankman-Fried says he will testify to Congress

Associated Press  

The former CEO of the failed cryptocurrency exchange FTX said in a tweet Friday that he is willing to testify to Congress next week, but that he will be limited in what he can say and that he “won’t be as helpful” as he’d like to be. The tweet came in response to several tweets earlier this month from House …

Ex-FTX CEO Bankman-Fried says he will testify to Congress
2 years ago

Ex-FTX CEO Bankman-Fried says he will testify to Congress

LA Times  

Sam Bankman-Fried has admitted his own failures in preventing the collapse but claims he’s limited in what he can say and he “won’t be as helpful” as he’d like to be. The tweet came in response to several tweets earlier this month from House Financial Services Committee Chair Maxine Waters, who had requested that Sam Bankman-Fried attend next week’s hearings …

FTX Crash: How The Meltdown Of One Of The World’s Largest Crypto Platforms Led To Unprecedented Selloff
2 years, 1 month ago

FTX Crash: How The Meltdown Of One Of The World’s Largest Crypto Platforms Led To Unprecedented Selloff

ABP News  

We witnessed a massive round of selloff in the cryptocurrency market after Binance announced that it won’t buy FTX. Binance, the world’s biggest crypto platform, was set to acquire troubled rival FTX.com, but soon did a U-turn and walked away from the deal citing problems with FTX's finances as well as potential regulatory investigations. What led to the falling financial …

“Possible to lose everything”: Experts say dramatic FTX collapse should be a warning to crypto bros
2 years, 1 month ago

“Possible to lose everything”: Experts say dramatic FTX collapse should be a warning to crypto bros

Salon  

In the fast-paced world of cryptocurrency, vast sums of money can be made or lost in the blink of an eye. Large crypto investors, like FTX's competitor Binance, as well as individuals, began to sell off cryptocurrency held on FTX's exchange. Among the groups and individuals who held currency on the FTX platform were many of the normal players in …

FTX Bankruptcy Fallout Continues to Cause Crypto Chaos
2 years, 1 month ago

FTX Bankruptcy Fallout Continues to Cause Crypto Chaos

Bloomberg  

The crypto industry descended into chaos last week after a series of fast moving events. The trouble purportedly started after Binance CEO Changpeng Zhao tweeted that the crypto exchange would sell off some of rival exchange FTX’s native token, FTT, due to ‘risk management’ issues. Binance backed out citing due diligence concerns and FTX’s questionable handling of its customers’ funds. …

Cryptocurrency exchange FTX and founder Sam Bankman-Fried's philanthropy at risk after company declares bankruptcy
2 years, 1 month ago

Cryptocurrency exchange FTX and founder Sam Bankman-Fried's philanthropy at risk after company declares bankruptcy

ABC  

The rapid collapse of cryptocurrency exchange FTX into bankruptcy last week has also shaken the world of philanthropy, due to the donations and influence of FTX founder Sam Bankman-Fried in the 'effective altruism' movement. Key points: Grants promised to several non-profits by crypto giant FTX are unlikely to be paid out after the firm's collapse Ex-chief executive Sam Bankman-Fried was …

EXPLAINER: What\'s happening at bankrupt crypto exchange FTX?
2 years, 1 month ago

EXPLAINER: What\'s happening at bankrupt crypto exchange FTX?

Deccan Chronicle  

NEW YORK: The imploding cryptocurrency trading firm FTX is now short billions of dollars after experiencing the crypto equivalent of a bank run. FTX and dozens of affiliated companies including founder Sam Bankman-Fried's hedge fund, Alameda Research, filed the bankruptcy petition in Delaware on Friday. FTX's new CEO John Ray III said it was switching off the ability to trade …

Sam Bankman-Fried’s downfall sends shockwaves through crypto
2 years, 1 month ago

Sam Bankman-Fried’s downfall sends shockwaves through crypto

Associated Press  

NEW YORK — Sam Bankman-Fried received numerous plaudits as he rapidly achieved superstar status as the head of cryptocurrency exchange FTX: the savior of crypto, the newest force in Democratic politics and potentially the world’s first trillionaire. Now the comments about the 30-year-old Bankman-Fried aren’t so kind after FTX filed for bankruptcy protection Friday, leaving his investors and customers feeling …

What's happening at bankrupt crypto exchange FTX? EXPLAINED
2 years, 1 month ago

What's happening at bankrupt crypto exchange FTX? EXPLAINED

India TV News  

FTX bankruptcy news: The imploding cryptocurrency trading firm FTX is now short billions of dollars after experiencing the crypto equivalent of a bank run. FTX's new CEO John Ray III said it was switching off the ability to trade or withdraw funds and taking steps to secure customers' assets. People who own bitcoin should be OK if they keep them …

FTX collapse sends shockwaves through crypto sector
2 years, 1 month ago

FTX collapse sends shockwaves through crypto sector

Al Jazeera  

Founder Sam Bankman-Fried was once hailed ‘a winner’ and is now being referred to as a ‘rogue actor’. Sam Bankman-Fried has received numerous plaudits as he rapidly achieved superstar status as the head of cryptocurrency exchange FTX: the saviour of crypto, the newest force in Democratic politics and potentially the world’s first trillionaire. “This is the direct result of a …

FTX founder holed-up with co-founder and chief technology officer in luxurious Bahamas resort
2 years, 1 month ago

FTX founder holed-up with co-founder and chief technology officer in luxurious Bahamas resort

Daily Mail  

The founder and former CEO of collapsing crypto trader Sam Bankman-Fried is said to be holed up with members of his inner circle in the Bahamas while his empire collapses around him. Bankman-Fried, 30, resigned from FTX on Friday, as the crypto exchange filed for bankruptcy and reports emerged that up to $2 billion in client funds had vanished from …

Crypto exchange FTX files for bankruptcy as wunderkind CEO exits
2 years, 1 month ago

Crypto exchange FTX files for bankruptcy as wunderkind CEO exits

The Hindu  

Crypto exchange FTX filed for U.S. bankruptcy protection on Friday and its founder Sam Bankman-Fried resigned as chief executive, after the biggest blowup in the crypto industry drew calls for tighter regulation. FTX, its affiliated crypto trading firm Alameda Research, and about 130 of its other companies have commenced voluntary Chapter 11 bankruptcy proceedings in Delaware, the company said in …

Crypto exchange giant FTX collapses, files for bankruptcy
2 years, 1 month ago

Crypto exchange giant FTX collapses, files for bankruptcy

Associated Press  

NEW YORK — It took less than a week for FTX to go from the third-largest cryptocurrency exchange in the world to bankruptcy court. FTX and Bankman-Fried, as well as his brother, were also early investors in Semafor, the high-profile news startup run by former BuzzFeed editor-in-chief and New York Times columnist Ben Smith. The cryptocurrency lender BlockFi announced on …

Australian investors in limbo after collapse of FTX cryptocurrency exchange
2 years, 1 month ago

Australian investors in limbo after collapse of FTX cryptocurrency exchange

ABC  

Australian investors have been left unable to withdraw their funds after the spectacular collapse this week of cryptocurrency exchange FTX. Key points: High-profile cryptocurrency exchange FTX filed for bankruptcy and its chief executive stepped down Australian investors have been unable to withdraw funds from the platform FTX's local arm went into voluntary administration on Friday The company's Australian entities have …

FTX has shown us how the crypto economy can collapse.
2 years, 1 month ago

FTX has shown us how the crypto economy can collapse.

Slate  

To understand the sudden downfall of the now-collapsed crypto exchange FTX, you have to go back to the beginning. But it’s Bankman-Fried’s references to FTX’s first investor that’s the key to his exchange’s implosion—and the details of how that Binance investment unfolded are a great illustration of how crypto works, and falls apart. FTX was founded in May of 2019 …

FTX to file for U.S. bankruptcy protection, CEO Bankman-Fried resigns
2 years, 1 month ago

FTX to file for U.S. bankruptcy protection, CEO Bankman-Fried resigns

The Hindu  

FTX will initiate bankruptcy proceedings in the United States while its Chief Executive Sam Bankman-Fried resigned, the embattled cryptocurrency exchange said on Friday, triggering what could be one of the biggest meltdowns in the industry. Mr. Bankman-Fried's trading firm Alameda Research is also part of the bankruptcy protection, the company said. FTX's collapse marks a stunning reversal of fortunes for …

Distressed crypto exchange FTX files for bankruptcy
2 years, 1 month ago

Distressed crypto exchange FTX files for bankruptcy

Al Jazeera  

The trading platform had been struggling to raise billions in funds to stave off collapse after a wave of withdrawals. Crypto exchange FTX has initiated US bankruptcy proceedings and CEO Sam Bankman-Fried has resigned, after a liquidity crisis at the cryptocurrency group that has prompted intervention from regulators around the world. “I’m really sorry, again, that we ended up here,” …

FTX chief executive Sam Bankman-Fried apologises to staff, investors on Twitter after cryptocurrency exchange's sudden collapse
2 years, 1 month ago

FTX chief executive Sam Bankman-Fried apologises to staff, investors on Twitter after cryptocurrency exchange's sudden collapse

ABC  

The chief executive of cryptocurrency exchange FTX has taken to social media to say he was at fault after revealing the company's swift and sudden downfall. Key points: FTX chief Sam Bankman-Fried tweeted he "should have done better" after the exchange's sudden collapse A rescue deal with its arch-rival, Binance, has fallen apart Sources say the Department of Justice and …

AP source: US authorities investigate crypto exchange FTX
2 years, 1 month ago

AP source: US authorities investigate crypto exchange FTX

Associated Press  

NEW YORK — The swift collapse of cryptocurrency exchange FTX sent more shockwaves through the crypto world on Thursday, with authorities now investigating the firm for potential securities violations and analysts bracing for a further downturn in crypto prices. The crypto world had hoped that Binance, the world’s largest crypto exchange, might be able to rescue FTX and its depositors. …

Crypto markets teeter with FTX after Binance abandons bailout
2 years, 1 month ago

Crypto markets teeter with FTX after Binance abandons bailout

The Hindu  

Cryptocurrency markets nursed heavy losses on Thursday, with bitcoin struggling to recover from a two-year low as investors fretted about the fallout from the implosion of crypto exchange FTX and the future of the industry. FTX head Sam Bankman-Fried said he was "exploring all the options", but fading hopes for rescue left FTX teetering. "The dagger will continue to hang …

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