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The Latest Breaking News from Crypto

FTX debacle shows need for crypto regulation, Yellen says

U.S. Treasury Secretary Janet Yellen said the implosion of Sam Bankman-Fried’s FTX crypto empire reinforced her view that the market for digital assets required “very careful regulation.”

Tribune News Service

Bankrupt FTX hit by mysterious outflow of about $662 million as crypto industry reels

Sam Bankman-Fried’s bankrupt digital-asset exchange FTX was hit by a mysterious outflow of about $662 million in tokens in the past 24 hours, the latest twist in one of the darkest periods for the crypto industry.

Tribune News Service

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

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‘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

Huge sums missing from collapsed crypto exchange

The collapsed crypto exchange FTX said on Saturday that it was moving funds into offline storage following a series of “unauthorised transactions”, with analysts saying millions of dollars worth of assets had been withdrawn from the platform.

Bangkok Post

Allison Schrager: Burned by crypto? Don’t learn the wrong lesson

I must admit I’ve been rooting for the crypto market to crash and burn. Not because I never invested in it and was resentful to see so many people get rich from it (though there were moments). But because I don't understand it, what value it serves or what problem…

Tribune News Service

$600M In Crypto Mysteriously Flow Out From FTX Wallets As Exchange Potentially Hacked

More than $600 million in cryptocurrency mysteriously vanished from the wallets of the bankrupt exchange FTX. In the aftermath, FTX on its official Telegram channel announced that the exchange had been hacked and advised users not to install any new updates and to delete all FTX apps.

Benzinga

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Miami’s star turn in the crypto boom now has an iconic bust: the Heat’s FTX Arena

MIAMI — FTX founder Sam Bankman-Fried got a thumbs up from Miami Mayor Francis Suarez during a joint appearance last year when an interviewer asked the 29-year-old mogul if a crypto company approaching a $25 billion valuation really had the financial staying power to fund the full 19 years on…

Miami Herald

Heat, Miami-Dade County Release Statement on Reports About FTX

The joint statement comes as the crypto giant officially filed for bankruptcy on Friday.

Sports Illustrated

Miami Heat's home arena will get new name after FTX collapse

The arena where the Miami Heat play will soon have a new name, after the team and Miami-Dade County decided Friday to begin actions to terminate their relationship with FTX on the same day that the cryptocurrency exchange filed for bankruptcy

The Independent 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

The Bitcoin, Ethereum And Dogecoin Setup Into The Weekend After FTX Mess, CPI Data, This Bullish Pattern

Bitcoin (CRYPTO: BTC) swung wildly between 9 a.m. and 10 a.m. after news hit that cryptocurrency platform FTX had filed for bankruptcy.

Benzinga

Floyd Mayweather, Kim Kardashian Poised To Win Cryptocurrency Lawsuit

The famed boxer looks to score another victory — outside the ring.

Zenger

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Fortune

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."

StockNews.com

3 Stocks You Need to Sell Pronto

Despite the latest inflation data showing a marginal slowdown, inflation is still hovering around an uncomfortably high level, and an end to Fed’s hawkish stance is nowhere in sight. With businesses being increasingly hurt by slowing down demand and rising borrowing costs, it could be wise to get rid of…

Daily Mirror

NFL star Tom Brady could lose a fortune after crypto company's bankruptcy announcement

Tom Brady and Gisele Bundchen took an equity stake in the crypto company FTX last year, who are now in freefall after a 70% crash was announced with the couple potential losing millions

Fortune

The historic crypto bubble: Bitcoin is now the fifth-biggest wipeout of all time, BofA says

Bitcoin has dropped 77% from its trading peak in November of last year to the latest blizzard of the crypto winter: FTX’s implosion and bankruptcy.

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Fortune

‘A lot of people have compared this to Lehman. I would compare it to Enron’: Larry Summers has some choice words for Sam Bankman-Fried and FTX

Lessons from the FTX collapse center more around accounting than crypto complexity, believes ex-Treasury Secretary Larry Summers.

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

Benzinga

Shiba Inu Swings Violently With Bitcoin, Ethereum Following FTX Bankruptcy: What's Happening?

Shiba Inu (CRYPTO: SHIB) swung wildly between 9 a.m. and 10 a.m. after news hit that cryptocurrency platform FTX had filed for bankruptcy.

The Texas Tribune

Crypto company that faces scrutiny from Texas regulators files for bankruptcy after competitor questioned its viability

FTX’s collapse came after customers raced to cash out their deposits when a major competitor questioned its viability and declined to buy the company in a bailout deal.

Fortune

The FTX debacle makes SEC Chair Gensler look bad—again

Gary Gensler missed the biggest crypto collapse to date. It’s a bad look for the SEC and by extension the Democrats.

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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