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The Latest Breaking News from Crypto

Stanford law professors are entangled in Sam Bankman-Fried’s FTX mess—and SBF’s father withdrew from an upcoming class

Bankman-Fried’s father—and his colleague—are reportedly consulting with the disgraced founder of the crypto exchange, who was raised on the prestigious university’s campus.

Fortune

Commentary: Sam Bankman-Fried is not an effective altruist

It’s an unfortunate thing that the fiery collapse of the crypto exchange FTX is giving many people their first look at one of the most promising charitable movements of the last decade. It’s called effective altruism, or EA, and in recent years, disgraced FTX founder Sam Bankman-Fried, known as SBF,…

Chicago Tribune

Crypto pressure ratchets up as FTC probes several firms over ads

The US Federal Trade Commission is probing several crypto firms over allegations their advertisements were deceptive or misleading, the agency said Monday.

Tribune News Service

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Bronx Rep. Ritchie Torres introduces crypto legislation

At a Monday press conference, Torres compared SBF to Bernie Madoff and voiced concerns about Tether.

Fortune

Disgraced crypto executive Sam Bankman-Fried spent big in 2 California congressional races

LOS ANGELES — During her campaign for the U.S. House of Representatives this spring, then-state Sen. Sydney Kamlager was endorsed by a little-known nonprofit called Guarding Against Pandemics.

Los Angeles Times

Coinbase CEO Brian Armstrong says SBF's messy accounting excuse for FTX collapse doesn't explain $8 billion loss: 'Even the most gullible person should not believe Sam's claim that this was an accounting error'

“I don't care how messy your accounting is (or how rich you are)—you're definitely going to notice if you find an extra $8B to spend."

Fortune

Senate Banking Democrats plan bigger role in crypto legislation - Roll Call

Sen. Sherrod Brown says a bill supported by Sens. Stabenow and Boozman is too favorable to the crypto industry.

Roll Call

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How a deeper crypto crash in 2023 could spark a gold rush

Gold could be about to take off in 2023 should the collapse in crypto assets, including Bitcoin, continue

Evening Standard

The IRS is coming for crypto — but it’s complicated

The agency wants to make sure those who dabble in digital assets pay their fair share of taxes

Axios

Meet the power players trying to make FTX customers whole

Rishi Jain, a managing director at a private equity consulting company, has been placed in charge of what’s left of FTX Ventures.

Fortune

KuCoin CEO defends exchange amid high-yield product backlash

Are crypto platforms adequately educating users about risk?

Fortune

Cryptocurrency exchange Swyftx axes 90 jobs with CEO blaming aftershocks of FTX collapse

Company expects further significant drops in trade and ‘the potential for more black swan-type events’

The Guardian - AU

FTX’s Bankman-Fried says he will testify before US Congress

FTX founder says he will testify when he has ‘finished learning and reviewing’ collapse of cryptocurrency exchange.

Al Jazeera

Sam Bankman-Fried’s ‘I screwed up’ messaging is about lawsuits and penalties vs. jail, says U.S. securities lawyer

FTX founder Sam Bankman-Fried “steered clear of anything that sounded like intentional misconduct,” said U.S. securities lawyer James Murphy.

Fortune

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Bangkok Post

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.…

The Guardian - UK

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 Orange County Register

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.

Fortune

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.”

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Axios

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.

Fortune

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.’

ABC News

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.

Fortune

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.

The Independent UK

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

The rudeness pandemic, the actual pandemic and all things gray

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