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The Latest Breaking News from Changpeng Zhao

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

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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read the most diverse news in one place.

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.

ABC News

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

Benzinga

How Binance played a key role as FTX collapse unfolded

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

The Guardian - UK

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

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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

Binance deal for FTX collapses

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

Al Jazeera

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.

Los Angeles Times

Binance Drops FTX Acquisition, Cryptos Trade Deep In The Red: 'The Issues Are Beyond Our Control'

Binance walked away from a deal to acquire FTX.com Wednesday after examining the company’s financials.

Benzinga

Binance CEO Says No 'Master Plan' To Take Over FTX, Warns Employees 'DO NOT Trade FTT Tokens'

Binance CEO Changpeng Zhao on Wednesday asserted he did not “master plan” the deal with FTX and the failure of Sam Bankman-Fried's cryptocurrency exchange was in no way a win for the world’s

Benzinga

Chinese crypto billionaire poised to acquire distressed rival says it’s not a ‘win’

Binance made a nonbinding offer to buy FTX on Tuesday. The deal was already looking shaky on Wednesday.

Fortune

Here's How Much Sam Bankman-Fried Lost In Wealth Tuesday — And How It Compares To Mark Zuckerberg's Rough 2022

One of the biggest names in cryptocurrency may have had one of the worst days as a billionaire, a status that could now be over.

Benzinga

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news in one place.

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Benzinga

Bitcoin, Ethereum, Dogecoin Crash: Analyst Says Crypto's 'White Knight' Needing Binance Rescue Causing 'Wave Of Uneasiness'

Major cryptocurrencies crashed Tuesday evening as the global cryptocurrency market cap plunged 10.4% to $916.2 billion at 8:09 p.m.

Fortune

Sam Bankman-Fried was the face of crypto in D.C. What would FTX’s acquisition mean for regulation?

Binance's power play sent shockwaves through Washington.

Benzinga

Analysis: A Tweet Just Cost Investors $153 Billion — How CZ May Have Tanked FTX, Crypto Before Acquisition

A feud between Sam Bankman-Fried and Changpeng Zhao is wreaking havoc on the cryptocurrency market over the last 24 hours.

Fortune

Crypto Twitter ablaze after Binance says it's buying FTX

Once considered crypto’s white knight, Sam Bankman-Fried just conceded to his biggest competitor.

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The Guardian - UK

Binance to buy FTX in major cryptocurrency exchange merger

Public squabble between the two largest offshore exchanges’ bosses led to run on FTX and forced sale

The Independent UK

Crypto exchange Binance to buy rival FTX in apparent bailout

The cryptocurrency exchange Binance said it plans to buy its rival FTX Trading, in what appears to be a bailout of FTX

Evening Standard

Binance acquires crypto exchange FTX to tackle ‘liquidity crunch’

It comes just hours after FTX’s founder said the company “is fine” and hit back at reports of the firm’s instability as “false rumours”

Benzinga

Binance To Acquire FTX.com As It Faces 'Liquidity Crunch': Here Are The Early Details

Two of the leading cryptocurrency companies are merging in a deal announced Tuesday. Here are the early details.

Benzinga

The FTT Debacle: Want To Cash In? Here's What Experts Said After Binance Selloff

A day after Binance (CRYPTO: BNB) CEO Changpeng Zhao revealed he would offload all the FTT tokens in the company’s kitty, FTX’s native token (CRYPTO: FTT) nose-dived about 35%

Zenger

Binance To Dump All Holdings Of Bankman-Fried’s FTX Tokens

"We won't support people who lobby against other industry players behind their backs,” said Binance CEO.

Benzinga

Is CZ Spreading Rumors? Bankman-Fried Thinks So: Binance, FTX Drama Continues

FTX CEO Sam Bankman-Fried clapped back at rival Binance CEO Changpeng Zhao after the latter apparently threw shade at the billionaire via Twitter.

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