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The Latest Breaking News on Crypto

Crypto's Enron-sized scandal threatens to undermine its core reason to exist

The crypto industry was already facing a trust deficit, and this has set it back far.

Axios

Former FTX users say the failed crypto exchange was a 'Ponzi scheme.' Here's how Ponzis work

SBF, as Bankman-Fried was often called, says he didn’t commit fraud. But bankruptcy specialists say the findings so far are ‘pretty devastating.’

Fortune

Sam Bankman-Fried's FTX empire was meant to revolutionise cryptocurrency and save the world. It didn't

By the time his bank account hit zero, the man who insisted he would one day be the "world's first trillionaire" had left only a trail of destruction in his wake.

ABC News

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Crypto billionaire Mike Novogratz says Sam Bankman-Fried ‘should go to jail,' as the ex-FTX billionaire worries about paying his lawyers

“The problem was, he took our money. And so he needs to get prosecuted,” says Novogratz, whose Galaxy Digital disclosed $76.8 million exposure to FTX.

Fortune

Boris Johnson hails blockchain ‘possibilities’ at Singapore conference

On post-No 10 lecture circuit, former PM says there must be ‘measures to protect public from Ponzi schemes’

The Guardian - UK

Crypto exchange Zipmex set for $100m buyout

The embattled cryptocurrency exchange Zipmex Asia is poised to be acquired by a venture capital fund for about US$100 million in digital coins and cash, one of the first rescues in Asia since a wave of defaults ripped through the sector.

Bangkok Post

11 Hours With Sam Bankman-Fried: Inside the Bahamian Penthouse After FTX’s Fall

Billions of dollars of customer money is missing, investigators are circling, and the 30-year-old ex-CEO admits his company broke its own rules.

Businessweek

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U.S. Trustee moves for independent examiner in FTX bankruptcy

The examiner would likely produce a large and independent report from a perspective the trustee describes as a "true neutral."

Axios

Superannuation is no gamble – and there is no place for crypto

So would you like to gamble with your superannuation savings? Go down to the casino and put it all on red?

The New Daily

Ex-FTX CEO Bankman-Fried says he didn’t ‘knowingly’ misuse clients’ funds

“I didn’t ever want to commit fraud on anyone. I was shocked at what happened this month,” Sam Bankman-Fried says.

Chicago Sun-Times

BlackRock's Fink predicts most crypto firms will go under

BlackRock CEO Larry Fink thinks that most crypto companies won't survive in the wake of Bankman Fried's FTX collapse.

Fortune

Founder of collapsed crypto exchange insists he 'didn't ever try to commit fraud'

Once a darling in the business and tech world, Sam Bankman-Fried has become a pariah. The founder of crypto exchange FTX, which declared bankruptcy last month, has given his first media interview since his platform collapsed. He denied any intention to commit fraud and pleaded ignorance at the mismanagement of…

France 24

Sam Bankman-Fried: Former boss of collapsed cryptocurrency scheme FTX denies fraud

Sam Bankman-Fried, the man formerly behind failed US cryptocurrency scheme FTX, has denied committing fraud.

Evening Standard

Australian administrator of FTX warns customers may not get all their money back

KordaMentha works to untangle web of companies behind crypto exchange and determine who is owed money by which branch of the business

The Guardian - AU

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WEKU

Sam Bankman-Fried strikes apologetic pose as he describes being shocked by FTX's fall

During an hour-long interview at the New York Times Dealbook Summit, Bankman-Fried frequently portrayed himself as in the dark about the condition of the multi-billion dollar exchange he founded.

The Guardian - US

FTX chief Sam Bankman-Fried says he ‘screwed up’ but rejects fraud claim

Disgraced chief executive tells summit he ‘didn’t knowingly commingle funds’ with FTX’s sister company Alameda Research

The Conversation

North Korea's nuclear program is funded by stolen cryptocurrency. Could it collapse now that FTX has?

Since the world’s second-largest crypto exchange, FTX, declared bankruptcy earlier this month, the flow-on effects have been felt far and wide.

Axios

Kraken crypto exchange lays off 30% of workforce

Kraken is one of the biggest and longest-standing crypto exchanges.

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The Guardian - US

FTX billionaire Sam Bankman-Fried funneled dark money to Republicans

The crypto entrepreneur was thought to be a big donor to Democrats but now acknowledges he gave equally to GOP

The Guardian - UK

ECB says bitcoin is on ‘road to irrelevance’ amid crypto collapse

European Bank criticises digital currency sector for facilitating illegal activity

Financial Times

‘It just kinda went crazy’: FTX’s lavish spending highlights lack of controls

Sam Bankman-Fried’s crypto group showered employees with perks before collapsing into bankruptcy

Axios

Exclusive: Sam Bankman-Fried says he's down to $100,000

The former CEO tells Axios about what helped lead to FTX's collapse.

Bangkok Post

FTX saga shows not all ends justify means

In the wake of the collapse of the cryptocurrency exchange FTX, and amid reports that FTX's founder, Sam Bankman-Fried, diverted billions of dollars of clients' funds, some observers have linked the alleged financial malpractice to ideas widely held within the "effective altruism" movement, which Mr Bankman-Fried says inspired him. More…

The Independent UK

Beto O’Rourke’s campaign returned surprise $1m donation from controversial crypto billionaire Sam Bankman-Fried

Embattled FTX founder was top donor to Democrats in 2022 midterms

Evening Standard

Sam Bankman-Fried: Crypto’s Wolf of Wall Street

City Voices: Crypto still has a great future despite recent scandals

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