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The Latest Breaking News from Binance

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).

The Conversation

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.

WEKU

Embattled crypto exchange FTX files for bankruptcy

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

The Independent UK

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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.

Fortune

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.

Benzinga

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.

The Conversation

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.

Fortune

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Sam Bankman Fried breaks silence on what went wrong with FTX: 'I f****d up twice'

"I was slammed with things to do and didn't give updates to you all. And so we are where we are. Which sucks, and that's on me. I'm sorry.”

Fortune

What happened to FTX and could the crisis spill over to the rest of crypto?

International exchange for crypto assets is in effect unregulated – and may have been built on sand

The Guardian - UK

Inside Sam Bankman-Fried's call with investors

FTX's founder and CEO was apologetic, but not terribly forthcoming.

Axios

With Bitcoin, Ether And Altcoins Drowning In A Sea Of Blood, Can Investors Hope To Catch A Falling Knife?

The cryptocurrency market continued its downward trajectory on Thursday morning, reeling under the implications of a failed deal between cryptocurrency exchange Binance and its rival FTX, with prices of major digital assets, including altcoins, trading at levels not seen

Benzinga

Troubled FTX Faces SEC Probe And 'Urgently Needs' $8B To Avoid Bankruptcy, NIO Posts Wider Q3 Loss, AstraZeneca Ditches US Application Submission For COVID-19 Shot: Top Stories Thursday, Nov. 11

Bloomberg

Benzinga

Cryptocurrencies: why Binance's failed FTX rescue deal could mean 'crypto winter' is coming

Life in the cryptocurrency industry is rarely quiet for long, and after a tumultuous summer, it seems the market is now entering a “crypto winter”. Over the past week, the founders of two of the largest cryptocurrency exchanges – Binance and FTX – have had a public Twitter spat that…

The Conversation

Sam Bankman-Fried needs $4 billion. Fast.

Bankman-Fried apologized to investors and said he would be “incredibly, unbelievably grateful” if they could help out.

Fortune

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Fortune

3 ways crypto venture capital may change after the FTX debacle

CoinFund’s David Pakman weighs in on lessons learned for the industry amid the Binance/FTX mess.

The Guardian - UK

Cryptocurrency exchange FTX now worthless, says key investor

Firm valued at $25bn in 2021 suffered bank run-style crisis as investors rushed to withdraw money

The National (Scotland)

Massive cryptocurrency exchange FTX on verge of collapse as takeover fails

Binance said it would not be pursuing a deal after completing due diligence.

Bangkok Post

Investors expect crypto turmoil to get worse

Cryptocurrency markets endured heavy losses on Thursday, with bitcoin near a two-year low as investors fretted about the fallout from the implosion of FTX, the world’s second-largest crypto exchange.

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Benzinga

Robinhood, MicroStrategy And Other Big Losers From Wednesday

U.S. stocks closed lower on Wednesday, with the Dow Jones dipping more than 600 points. Here is the list of some big stocks recording losses in the previous session.

Benzinga

Bitcoin, Ethereum, Dogecoin Rout Deepens: Analyst Says 'Implosion Of FTX Means No One Is Safe'

Major coins plunged sharply on Wednesday evening amid a wider rout as the cryptocurrency market capitalization dropped 11.3% to $812.9 billion at 8:30 p.m. EST.

Tribune News Service

Sam Bankman-Fried's FTX empire faces US probe into client funds, lending

U.S. regulators are investigating whether beleaguered crypto-exchange FTX.com mishandled customer funds, and they’re looking into the firm’s relationships with other parts of Sam Bankman-Fried’s crypto empire.

Al Jazeera

Binance deal for FTX collapses

Binance pulled out of the deal after its corporate due diligence and reports of mishandled funds.

Los Angeles Times

Michael Hiltzik: A cryptocurrency billionaire implodes, showing that the whole field is built on quicksand

For a while there, Sam Bankman-Fried looked like the real thing.

Fortune

After Binance balks, what's next for SBF and FTX?

The news comes a day after Binance said it signed a letter of intent to buy its rival.

Evening Standard

Over a million customer crypto accounts at risk as Binance abandons FTX acquisition

The US Securities and Exchange Commission is reported to be expanding its investigation into the beleaguered crypto exchange

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