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The Latest Breaking News on Crypto

Bitcoin has rallied. What are crypto’s true believers still smoking?

FTX’s filing for bankruptcy was an existential event – and may signal the moment when grown-up thinking re-entered the room

The Guardian - UK

Sam Bankman-Fried: the crypto pioneer behind one of the largest financial frauds in history

The 30-year-old is facing decades in jail after being found guilty of fraud. So how did the FTX founder end up here? Amy Francombe reports

Evening Standard

Explainer: cryptocurrency and cryptocurrency exchanges

Almost all cryptocurrencies have declined significantly this year but this doesn’t seem to be putting people off, writes Alex Sims

Newsroom.co.nz

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Warren pushes bipartisan bill to regulate crypto firms after FTX collapse

Move co-sponsored by Republican Roger Marshall aims to crack down on money laundering after arrest of Sam Bankman-Fried

The Guardian - US

Binance founder insists ‘business as usual’ after $1bn pulled out in a day

Changpeng Zhao calls withdrawals a ‘stress test’ as investors continue to react to FTX collapse

The Guardian - UK

Biden says he’s ‘all in’ on Africa’s future at leadership summit – as it happened

President commits to strengthening Africa’s food supplies, tackling climate emergency and partnering with nations to take on rising global power

The Guardian - US

Crypto: The white male privilege scam

The downfall of Sam Bankman-Fried serves as a reminder of how many white male "geniuses" are just full of crap

Salon

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Sam Bankman-Fried: Arrested crypto exchange boss hugs parents as he is denied bail on fraud charges

Former cryptocurrency exchange entrepreneur Sam Bankman-Fried hugged his parents as he was denied bail after being charged with “one of the biggest financial frauds in American history”.

Evening Standard

Who is Sam Bankman-Fried and why was the FTX founder arrested in the Bahamas?

The former ’King of Crypto’ is currently behind bars

Evening Standard

Sam Bankman-Fried faces up to 115 years' prison if convicted on FTX fraud

WASHINGTON: Sam Bankman-Fried faces up to 115 years in prison if he’s convicted on all eight charges filed by the US Department of Justice on Tuesday — though he’s unlikely to be sentenced to that long a term.

The Times of India

"Dirty money": Unpacking the campaign finance charges against Sam Bankman-Fried

It's a significant footnote in what prosecutors are calling "one of the biggest financial frauds in American history."

Axios

Lightfoot supporter questions indicted crypto billionaire’s donation to Garcia

State Rep. Kelly Cassidy (D-Chicago) questioned Samuel Bankman-Fried’s motives for spending $151,420 on direct mail pieces for Chuy Garcia’s congressional reelection.

Chicago Sun-Times

Five things we know about the collapse of FTX and Sam Bankman-Fried

Company founder was arrested and charged with running a ‘house of cards’ in ‘one of the biggest financial frauds in US history’

The Guardian - US

‘Uniquely destined to fail’: New FTX CEO describes to Congress mess left behind by SBF

FTX CEO John Ray III was the sole witness during the House Financial Services Committee hearing.

Fortune

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Al Jazeera

Binance withdrawals hit $1.9bn in past 24 hours says data firm

The world’s biggest crypto exchange said it had ‘temporarily paused’ withdrawals as CEO said it was ‘business as usual’.

ABC News

ASX rises after Wall Street gains and US inflation pulls back in November — as it happened

Australian and US stocks climb after data shows inflation in North America barely rose last month. Look back on the day's events and insights from our business reporters on the ABC News markets blog.

ABC News

The Loop: Surviving police 'grateful' to be alive after Queensland siege, Scott Morrison to front royal commission today, and Netflix reveals Harry & Meghan numbers — as it happened

The news Australia is searching for, and all the news that happened while you snoozed: This is The Loop, your quick catch-up for this morning's stories as they happen.

ABC News

Sam Bankman-Fried promised his FTX crypto empire would save the world. US authorities say he was lying from the start

Sam Bankman-Fried insists the collapse of $32 billion crypto empire is the result of bad accounting, human error and rotten luck. US authorities say it was a "massive, years-long fraud".

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Tribune News Service

Silvergate Capital faces questions from lawmakers amid FTX crypto exchange collapse

San Diego's Silvergate Capital made its name in recent years as one of a few traditional banks providing deposit, fund transfer, security and other services for the cryptocurrency trading market.

The Independent UK

US lawmakers slam timing of arrest of FTX boss Sam Bankman-Fried

Republican says House GOP ‘was ready to grill him six ways to Sunday’

Daily Mirror

Inside wild life of polyamorous 'Crypo king' who lost $32billion in FTX collapse

Sam Bankman-Fried went from a multi-billionaire to destitute overnight when his cryptocurrency exchange FTX collapsed after it was revealed billions were being funnelled into another of his companies

The Independent UK

New FTX CEO says lax oversight, bad decisions caused failure

The new CEO of the cryptocurrency exchange FTX is appearing before a House committee Tuesday, detailing for lawmakers the lack of oversight and financial controls that he discovered since taking over the company a month ago

The Independent UK

Who Sam Bankman-Fried was going to blame for FTX’s collapse – until his arrest

Founder and CEO of cryptocurrency exchange could not appear before Congress

Chicago Sun-Times

Former FTX CEO Bankman-Fried hit with 8-count indictment

Former CEO Sam Bankman-Fried is accused of raising more than $1.8 billion from equity investors since May 2019 by promoting FTX as a safe, responsible platform for trading crypto assets. Instead, the complaint says, Bankman-Fried diverted customers’ money into his privately-held crypto fund without…

The Guardian - US

Sam Bankman-Fried and other FTX staff allegedly had ‘Wirefraud’ chat group

Chat group on the platform Signal was reportedly used to send end-to-end encrypted information about FTX and its hedge fund

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