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The Latest Breaking News from Binance

Bankrupt Crypto Exchange FTX Under Investigation

Plus: Democrats retain control of Senate, RIP Sharon Presley and Martin Wooster, and more...

Reason

Binance says 'proof of reserves' can restore trust in the crypto industry. What does that mean?

As the crypto industry faces a crisis of confidence, insiders argue over how to restore trust—and avoid a regulatory crackdown.

Fortune

Binance boss says no one can be protected from a ‘bad player’

Changpeng Zhao announces plans for an industry ‘recovery fund’ for struggling crypto firms

The Guardian - UK

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Sam Bankman-Fried's downfall sends shockwaves through crypto

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

The Independent UK

Chronicling Luke Skywalker And Darth Vader, Bestselling Author Michael Lewis Has Book In Works Covering Sam Bankman-Fried and Changpeng Zhao

With the world fascinated and intrigued by the story of FTX and its co-founder Sam Bankman-Fried, many have wondered how long it will take until a movie or series on the storyline pops up in theaters or on

Benzinga

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

Problems mounted over the weekend for collapsed cryptocurrency exchange FTX, which was struggling to account for money that went missing hours after it filed for bankruptcy

The Independent UK

One of the greatest financial writers alive has been embedded with FTX’s Sam Bankman-Fried for six months and has a book on the way

Michael Lewis’ next book is about crypto's disgraced FTX founder Sam Bankman-Fried, according to The Ankler.

Fortune

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How To Lose $16 Billion In 3 Days: How Sam Bankman-Fried’s Wealth Disappeared

Several days ago, FTX co-founder Sam Bankman Fried saw his wealth plummet by over 90% to a value of $1 billion. Here's how!

Zenger

EXCLUSIVE: Marathon Digital CEO Fred Thiel Says FTX Bankruptcy 'Has Increased The Fear Factor'

The CEO of Bitcoin (CRYPTO: BTC) mining company Marathon Digital Holdings Inc (NASDAQ: MARA), the world's second-largest holder of Bitcoin among publicly-listed companies, is speaking out about

Benzinga

‘I f****d up’: the rise and fall of US crypto king Sam Bankman-Fried

The 30-year-old wunderkind last week saw his giant FTX digital currency exchange collapse and his $17bn fortune disappear

The Guardian - UK

The Weekly Wrap for Saturday, 12 November 2022

Sam Bankman-Fried's cryptocurrency empire collapsed this week. His $16bn personal fortune was incinerated in a matter of days (another rousing win for the normative determinists). Not bad for a 30-year-old.

inkl Originals

Cryptocurrency platform FTX files for bankruptcy

NEW YORK: Crisis-struck cryptocurrency platform FTX has gone bankrupt in the United States and its chief executive Sam Bankman-Fried has resigned, it said Friday, the latest blow in a saga that has reverberated across the digital currency landscape.

Bangkok Post

Binance's CZ compares current crypto crash to 2008 financial crisis but insists 'the market will heal itself'

“With FTX going down, we will see cascading effects."

Fortune

How To Lose $16 Billion In 3 Days: How Sam Bankman-Fried's Wealth Disappeared

Several days ago, FTX co-founder Sam Bankman Fried saw his wealth plummet by over 90% to a value of $1 billion.

Benzinga

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news in one place.

100’s of premium titles.
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ABC News

Australian investors in limbo after collapse of FTX cryptocurrency exchange

Australians who invested in the FTX cryptocurrency exchange are unable to withdraw their funds as the company's local arm goes into voluntary administration.

Benzinga

CZ Slams Reports Binance's Reserves Are Full Of Its Own Tokens: 'Numbers Are All Wrong'

Binance CEO Changpeng Zhao on Friday came down heavily on a report the cryptocurrency exchange holds $74.6 billion in tokens, out of which nearly 40% are its own stablecoin

The Guardian - UK

How Binance played a key role as FTX collapse unfolded

Cryptocurrency exchange run by Changpeng Zhao pulled out of deal to rescue its rival

Al Jazeera

Distressed crypto exchange FTX files for bankruptcy

The trading platform had been struggling to raise billions in funds to stave off collapse after a wave of withdrawals.

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news in one place.

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The Conversation

FTX contagion will be ugly within crypto, but probably less damaging to the wider world

Crypto assets are infamous for being highly speculative and volatile, but it is their “debt problems” that have once again made headlines. Since November 2021, the total value of cryptocurrencies has now fallen from a peak of over US$3 trillion (£2.6 trillion) to circa US$830 billion (£706 billion).

WEKU

FTX crypto exchange, billions of dollars low and under DOJ scrutiny, seeks bankruptcy

FTX had agreed earlier this week to sell itself to bigger rival Binance after experiencing the cryptocurrency equivalent of a bank run. The Department of Justice and the SEC are investigating.

The Independent UK

Embattled crypto exchange FTX files for bankruptcy

Embattled cryptocurrency exchange FTX, short billions of dollars, is seeking bankruptcy protection following its collapse this week

Fortune

This week in the metaverse: NFT prices, Capital One trademarks, and Wrangler's NFT-themed apparel

NFT collections are so far resisting headwinds from the collapse of the FTX and Binance acquisition deal after prices fell steeply in the immediate aftermath.

Benzinga

TRON Founder Justin Sun Prepared To Pump Billions In FTX

Tron is prepared to pump in billions to rescue beleaguered cryptocurrency exchange FTX, the company’s founder Justin Sun said on Friday.

The Conversation

The spectacular collapse of a $30 billion crypto exchange should come as no surprise

Not long ago, FTX was one of the world’s largest trading platforms for cryptocurrencies. Founded in 2019, the Bahamas-based crypto exchange had a meteoric rise to prominence, and was valued at more than US$30 billion earlier this year.

Fortune

VC giant Sequoia writes down $214 million investment in FTX to zero: 'We are in the business of taking risk'

One of the most successful VC firms of all time invested in FTX in July 2021, when it was valued at $18 billion.

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