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The Latest Breaking News from Crypto

How a huge cryptocurrency exchange failed

The convoluted story of two intertwined companies which brought the value of cryptocurrencies to their knees.

Newsroom.co.nz

Salvadoran president vows to buy "one #Bitcoin every day'

San Salvador (AFP) - President Nayib Bukele of El Salvador, the first country to make bitcoin legal tender, said Thursday the nation would buy one unit of the currency every day, doubling down in the face of public criticism of his embrace of the crypto money.

AFP

New CEO Slams Bankman-Fried As FTX Bankruptcy Impact Spreads

New FTX CEO slams Sam Bankman-Fried for "complete absence of trustworthy financial information" as more crypto firms report liquidity issues

Investors Business Daily

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Incompetent or Crook? FTX's Bankman-Fried Creates Confusion

The founder and former CEO of the cryptocurrency exchange FTX tries to explain what precipitated the downfall of his empire.

The Street

FTX Employees Used Company Funds to Buy Homes in the Bahamas

There were no expense controls for employees whose expenses were approved by chat with personalized emojis, according to the new CEO.

The Street

New FTX boss, who worked on Enron bankruptcy, condemns ‘unprecedented failure’

US corporate restructuring expert John Ray says ‘never in my career have I seen such a complete failure of corporate controls’

The Guardian - US

FTX Collapse: Founder and Co Used Company's Money to Buy Homes in the Bahamas

There were no expense controls for employees whose expenses were approved by chat with personalized emojis, according to the new CEO.

The Street

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FTX latest: Bankruptcy lawyers accuse SBF of undermining case

Sam Bankman-Fried is undermining efforts to reorganize his crumbling empire with “incessant and disruptive tweeting,” US lawyers for the bankrupt crypto platform FTX said in a court filing.

Tribune News Service

Dramatic collapse of the cryptocurrency exchange FTX contains lessons for investors but won't affect most people

In the fast-paced world of cryptocurrency, vast sums of money can be made or lost in the blink of an eye. In early November 2022, the second-largest cryptocurrency exchange, FTX, was valued at more than US$30 billion. By Nov. 14, FTX was in bankruptcy proceedings along with more than 100…

The Conversation

Fallen FTX Founder Bankman-Fried Plays the Victim

Sam Bankman-Fried is trying to absolve himself of the practices that led to the bankruptcy of his empire.

The Street

Smartest Guys In The Room? Big Wall Street Firms Hold Bitcoin Bag

It's not just amateurs getting hit by the Bitcoin ETF crash. The implosion is snaring big Wall Street firms and pros, too.

Investors Business Daily

The crypto dominoes in the wake of FTX exchange collapse

It's a classic case of contagion.

Axios

Fallen FTX Founder Says He Didn't Know What Was in the Books

The founder and former CEO of the cryptocurrency exchange FTX tries to explain what precipitated the downfall of his empire.

The Street

“This is fraud:” Coinbase CFO says of FTX as more crypto fintechs get caught in contagion

Alesia Haas is trying to assure consumers that FTX was merely a bad actor and is not representative of the whole industry.

Fortune

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AFP

Binance boss pledges to release audit, throws 'psychopath' jab

Abu Dhabi (AFP) - The head of Binance, the world's top cryptocurrency exchange, pledged Thursday to release an audit into the firm and rejected claims he sparked the recent collapse of rival platform FTX.

AFP

Sports world tries to sidestep collapse of sponsor FTX

Paris (AFP) - The collapse of the cryptocurrency exchange FTX has sent shockwaves through sport, which the platform used widely to build its brand.

The Street

FTX Collapse Hits Crypto Brokerage Genesis

The FTX collapse has impacted other crypto brokerages, including Genesis.

Motorsport

Mercedes F1 team left in "disbelief" over FTX collapse

Mercedes says it has been left in 'disbelief' over the collapse of its Formula 1 sponsor, the crypto exchange FTX, last week.

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Bangkok Post

FTX case has raised 'serious allegations', says Singapore minister

SINGAPORE: The collapse of crypto exchange FTX has raised "very serious allegations that amount to potential fraud", Singapore's finance minister and deputy prime minister said on Thursday.

The Conversation

FTX bankruptcy is bad news for the charities that crypto mogul Sam Bankman-Fried generously supported

FTX, an exchange for trading cryptocurrencies, quickly became bankrupt and defunct in November 2022. Its founder, Sam Bankman-Fried, is broke, and the 30-year-old former billionaire could be in serious legal trouble for his alleged financial improprieties. The Conversation asked Brian Mittendorf, an accounting scholar at The Ohio State University, to…

Fortune

FTX's disgraced founder SBF still thinks he can rebuild his bankrupt crypto empire and make customers whole

The 30-year-old who fashioned himself as an altruist claimed FTX was not in a balance sheet crisis with its very solvency at risk, merely a liquidity crisis.

The Guardian - UK

FTX’s former CEO claims crypto exchange is still solvent

Sam Bankman-Fried makes statement even as new boss begins formal bankruptcy process

AAP

Aust crypto exchange suspends withdrawals

Brisbane-based crypto exchange Digital Surge has suspended withdrawals until further notice, citing fallout from the collapse of FTX.

The Street

Fallen FTX Founder Says He's Meeting with Regulators

Sam Bankman-Fried has already been questioned by the police in the Bahamas.

The Independent UK

Size, scope of FTX failure gets clearer as users fear worst

Just days after cryptocurrency’s third-largest exchange collapsed, the public is starting to get a feel of how messy FTX’s bankruptcy case could be

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