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The Latest Breaking News from Crypto

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.…

Bangkok Post

Longtermism: how good intentions and the rich created a dangerous creed

Tech billionaires seem intent on giving away a lot of money. But are those who support ‘longtermism’ and ‘effective altruism’ ignoring the very real problems of today?

The Guardian - UK

Kings struggle to score early in loss to Hurricanes

LOS ANGELES – With a six-game road trip ahead, the Los Angeles Kings might have wanted to get away during stretches of a 4-2 loss to the Carolina Hurricanes at Crypto.com Arena Saturday.

The Orange County Register

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Coinbase CEO Brian Armstrong says it’s ‘baffling’ FTX’s Sam Bankman-Fried isn’t ‘in custody already’

“There’s a very open and shut case for fraud,” said Armstrong, adding it’s “bizarrre” the media isn’t calling Bankman-Fried a “criminal.”

Fortune

Crypto's Enron-sized scandal threatens to undermine its core reason to exist

The crypto industry was already facing a trust deficit, and this has set it back far.

Axios

Former FTX users say the failed crypto exchange was a 'Ponzi scheme.' Here's how Ponzis work

SBF, as Bankman-Fried was often called, says he didn’t commit fraud. But bankruptcy specialists say the findings so far are ‘pretty devastating.’

Fortune

Sam Bankman-Fried's FTX empire was meant to revolutionise cryptocurrency and save the world. It didn't

By the time his bank account hit zero, the man who insisted he would one day be the "world's first trillionaire" had left only a trail of destruction in his wake.

ABC News

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Crypto billionaire Mike Novogratz says Sam Bankman-Fried ‘should go to jail,' as the ex-FTX billionaire worries about paying his lawyers

“The problem was, he took our money. And so he needs to get prosecuted,” says Novogratz, whose Galaxy Digital disclosed $76.8 million exposure to FTX.

Fortune

Why crypto poses a threat to Apple's payments empire

Apple has every incentive to smother crypto in its crib.

Fortune

Yes, you can use your credit cards to buy crypto

You can buy cryptocurrency with certain credit cards, but you'll face high fees and interest charges, and your creditor may even process the transaction as a loan.

Fortune

The pandemic, Karens, crypto craziness: We're over you, 2022

The rudeness pandemic, the actual pandemic and all things gray

The Independent UK

Why did FTX buy into a U.S. bank owned by a co-creator of 'Inspector Gadget'?

A closer look at why Sam Bankman-Fried's crypto empire took a stake in a tiny bank in Washington State.

Fortune

3 ways cryptocurrency is changing the way colleges do business with students and donors

Until about 2020, universities used cryptocurrencies only to pay ransoms to criminals attacking their networks. A fast payment to criminals helped victim universities restore their networks quickly.

The Conversation

FTX collapse leaves program to help formerly incarcerated Chicagoans in jeopardy

The cryptocurrency giant pledged at least $1 million to help provide universal basic income to help people get back on their feet after time behind bars. Now, it has filed for bankruptcy without delivering most of the grant.

Chicago Sun-Times

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Bangkok Post

Crypto exchange Zipmex set for $100m buyout

The embattled cryptocurrency exchange Zipmex Asia is poised to be acquired by a venture capital fund for about US$100 million in digital coins and cash, one of the first rescues in Asia since a wave of defaults ripped through the sector.

The Orange County Register

Anze Kopitar scores twice as Kings rally to beat Coyotes

LOS ANGELES — After a day of reckoning on Wednesday, it was a night of resilience on Thursday, when the Los Angeles Kings surmounted a two-goal deficit and some poor puck luck to upend the Arizona Coyotes, 5-3, at Crypto.com Arena.

The New Daily

Superannuation is no gamble – and there is no place for crypto

So would you like to gamble with your superannuation savings? Go down to the casino and put it all on red?

Fortune

The man who correctly predicted Bitcoin's drop to $20,000 just said it could fall another 40% next year

Billionaire investor Mark Mobius, a long-time crypto skeptic, has a prediction Bitcoin enthusiasts might not like.

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Fortune

How Solana, ‘Sam coins,’ Bitcoin, and Ethereum have fared after the FTX collapse

The failure of FTX had investors "stampeding like a herd of wildebeest to off-load as much risk as they could,” Ryan Shea, crypto economist at Trakx, tells Fortune.

Fortune

3 takeaways on SBF, Mark Zuckerberg, and Larry Fink from DealBook’s buzzy Summit

The former FTX CEO took the lawyerly route, while the Meta chief blasted Apple and the BlackRock leader forecasted change in tech.

Fortune

‘We can’t regulate this out of existence’: Senate Agriculture Committee grills CFTC chair on FTX collapse

Rostin Behnam said he met with Sam Bankman-Fried 10 times over an FTX proposal.

Fortune

Billionaire Bill Ackman and Kevin O'Leary think FTX's Sam Bankman-Fried is telling 'the truth' about being unaware of major problems at his failed crypto exchange

FTX founder Sam Bankman-Fried defended himself Wednesday against fraud accusations in an interview at the New York Times Dealbook Summit.

Fortune

Payments giant Stripe jumps into Web3 with tool that helps companies turn cash to crypto

Stripe said in a Thursday blog post that the new fiat-to-crypto product will also handle fraud, compliance, and know your customer checks.

StockNews.com

Avoid These 4 Stocks Amid Crypto Market Turmoil

The cryptocurrency market has been hard hit this year, with rising interest rates and recession fears making investors stay away from highly risky assets. While the Fed is expected to slow interest rate hikes, given the lingering recession concerns, it could be wise to avoid struggling crypto-exposed stocks Coinbase Global…

Tribune News Service

FTX missing billions remain mystery after Bankman-Fried grilling

Mystery continues to shroud the missing billions at bankrupt crypto exchange FTX after its disgraced founder Sam Bankman-Fried denied trying to perpetrate a fraud while admitting to grievous managerial errors.

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