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The Latest Breaking News from Crypto

What do we know so far about collapse of crypto exchange FTX?

How did Sam Bankman-Fried’s FTX fail and what does the firm’s fate tell us about cryptocurrencies?

The Guardian - UK

Tech venture capital fueled FTX’s rise—and bears some responsibility for its downfall

Mounting evidence shows VC firms ignored major warning signs and failed to take basic risk-mitigation steps.

Fortune

Alexis Leondis: FTX users can’t count on help from the IRS

When market investors suffer losses — or get taken for a ride — they’re often eligible for a tax write-off to soften the blow. Users of the bankrupt crypto exchange FTX won’t be so lucky.

Tribune News Service

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FTX's downfall casts a shadow over other sports-rights deals. What's up, Crypto.com Arena?

When the Miami Heat announced in March 2021 that the team had sold naming rights for its arena to FTX, the response from sports fans was a resounding: Who?

Los Angeles Times

Binance's CZ calls alleged FTX fraudster SBF a 'psychopath' over tell-all threat

Changpeng Zhao, who suspects FTX of leaking information that endangered his children, had set in motion the events that sank FTX last week and wiped out all of his rival's wealth.

Fortune

Why the FTX scandal gets compared to Enron

If FTX's blowup is anything like Enron's, that means big changes are on the horizon for the systems that enabled the crypto company's rise and fall.

Axios

A prominent investor once advised Sam Bankman-Fried’s FTX to form a board

The crypto exchange FTX, once valued at $26 billion, was operating without a real board. Its downfall could lead to renewed pressure for private companies to have independent directors.

Fortune

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Editorial: Cryptocurrency stars can flame out. But they can’t take their customers with them

Out of nowhere, 30-year-old Sam Bankman-Fried became a billionaire mover and shaker in the world of cryptocurrency. Careful to make friends of powerful Democrats and media columnists alike, he threw money around the halls of Congress — and everywhere else he went — while threatening to disrupt Chicago’s financial futures…

Chicago Tribune

FTX collapse a warning to crypto bros

Crypto exchange FTX was valued at more than $30 billion just weeks ago. Now it's in bankruptcy proceedings

Salon

FTX had a 'complete absence of trustworthy financial information' says new CEO

The man appointed to administer the collapsed crypto exchange in chapter 11 bankruptcy, who oversaw the clean-up after Enron's collapse, says he has never seen "such a complete failure of corporate controls".

ABC News

FTX users have a leg up on other crypto bankruptcy victims—on paper

If FTX customers retain control of their digital assets, then those funds need to be returned—not put through bankruptcy.

Fortune

Tom Brady sued over crypto currency collapse which could cost NFL legend millions

Seven-time Super Bowl champion Tom Brady is being sued for his role in promoting cryptocurrency exchange FTX, which had to seek bankruptcy protection last Friday

Daily Mirror

Tech venture capital fueled FTX’s rise—and bears some responsibility for its downfall

Mounting evidence shows VC firms ignored major warning signs and failed to take basic risk-mitigation steps.

Fortune

Matt Hancock paid £10,000 to give cryptocurrency speech

Former minister picks up hefty fee just as sector faces huge losses

The Independent UK

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The Guardian - US

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’

Tribune News Service

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.

The Conversation

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…

Axios

The crypto dominoes in the wake of FTX exchange collapse

It's a classic case of contagion.

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Fortune

“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.

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.

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.

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