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The Latest Breaking News from Binance

The Weekly Wrap for Saturday, 17 December 2022

This man needs little introduction. He's a scoundrel who drank his own bath water. A gambling exemplar of modern techno-capitalism. And if we lived in a just society, Sam Bankman-Fried would be TIME magazine's Person of the Year.

inkl Originals

Asian shares fall amid tougher rate talk

RECAP: Asian shares declined yesterday, as continued interest rate hikes and a steadfast hawkish stance by major central banks fuelled global recession worries and sapped risk sentiment, driving US and European markets down.

Bangkok Post

Is Binance okay? Events this week had the crypto industry on edge

The crypto market jitters about Binance this week were likely overblown—but there are still reasons to be concerned about the health of the world's biggest crypto exchange.

Fortune

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Binance auditor withdraws from working with crypto company

World’s largest cryptocurrency exchange, which has been hit by $6bn of withdrawals this week, seeks replacement for Mazars

The Guardian - UK

Binance was once FTX's rival and possible savior. Now it's trying not to be its sequel

Binance temporarily froze withdrawals after customers withdrew more than $1 billion worth of crypto on Tuesday, fueling fears more crypto companies could collapse.

WEKU

Gulf, SCG urge government to assist Thai firms globally

Gulf Energy Development and Siam Cement Group (SCG) are urging the government to improve Thai companies so they can stand out in the global business arena.

Bangkok Post

Shaq distances himself from crypto, despite once being a paid spokesperson for FTX

“A lot of people think I’m involved, but I was just a paid spokesperson for a commercial,” O’Neal said, referring to his association with the failed cryptocurrency exchange FTX.

Fortune

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Crypto is riddled with accounting scandals. Could the Big Four solve that?

Few crypto companies rely on the services of major accounting firms. Maybe that should change.

Fortune

Investors desert Binance

Thai cryptocurrency pundits are recommending investors withdraw digital assets from Binance amid a run on the world's largest crypto exchange, moving their money to a safer crypto exchange in Thailand regulated by the Securities and Exchange Commission (SEC).

Bangkok Post

Star-studded Senate hearing illustrates massive divide over crypto in D.C.

Without Sam Bankman-Fried in attendance, senators focused on the future of the volatile industry.

Fortune

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

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

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

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

The Independent UK

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Evening Standard

Jitters spread around crypto market amid FTX founder arrest

Crypto exchange Binance has sought to reassure customers it had enough reserves

Al Jazeera

Timeline: The rise and spectacular fall of FTX

The crypto exchange was founded in 2019 and attracted big-name investors such as Singapore’s sovereign fund Temasek.

Fortune

Former FTX CEO Sam Bankman-Fried arrested by Bahamian authorities

The Bahamian government said the U.S. has filed criminal charges against Bankman-Fried.

Fortune

Federal prosecutors can't decide whether to hit Binance and its execs with indictments after 4 years of investigating

The U.S. began looking at the company in 2018 after reports that criminals were among users of the exchange.

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Fortune

Coinbase tells customers to switch to stablecoin it cofounded—without fees

The company implied that the fallout of FTX put “some stablecoins to the test.”

The Conversation

Why sports sponsorship is unlikely to save cryptocurrency firms from 'crypto winter'

If you have been watching the Fifa World Cup in Qatar closely, you will have noticed the advertising on the hoardings around the pitch. Alongside the usual names – Adidas, Coca-Cola, Visa – there are some new ones, including Crypto.com, the Singapore-based cryptocurrency and payment platform.

Fortune

The crypto billionaire who helped expose SBF's insolvency calls him 'one of the greatest fraudsters in history' and accuses media and thought leaders of being manipulated

Binance CEO CZ is speaking out against SBF after FTX’s collapse and arguing he had nothing to do with his rival’s downfall.

Fortune

KuCoin CEO defends exchange amid high-yield product backlash

Are crypto platforms adequately educating users about risk?

Bangkok Post

Crypto's path to deep crisis is well-worn

Swiftly rising interest rates have punctured the cryptocurrency bubble, exposing fragility, bad governance and even fraud in many corners, most notably at the crypto exchange FTX. And FTX's spectacular collapse comes on the heels of other recent failures in the cryptosphere, such as Terra-Luna, Three Arrows Capital or Voyager Digital.…

Fortune

Wall Street’s ‘Dr. Doom’ calls crypto ‘corrupt gambling’ and rips ‘proof of reserves’ trumpeted after FTX collapse

Nouriel Roubini warned on Saturday, “Crypto is corrupt gambling where the house always & systematically front runs the retail suckers that get rekt.”

Bangkok Post

Equities pause as market takes stock of Covid cases

RECAP: Asian equities fell yesterday in subdued activity after the Thanksgiving holiday in the US. Chinese shares led declines as investors weighed recent gains against an upswing in Covid-19 infections, which reached a new single-day high above 30,000 infections.

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