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The Latest Breaking News from Cryptocurrency

FTX saga shows not all ends justify means

In the wake of the collapse of the cryptocurrency exchange FTX, and amid reports that FTX's founder, Sam Bankman-Fried, diverted billions of dollars of clients' funds, some observers have linked the alleged financial malpractice to ideas widely held within the "effective altruism" movement, which Mr Bankman-Fried says inspired him. More…

Bangkok Post

Beto O’Rourke’s campaign returned surprise $1m donation from controversial crypto billionaire Sam Bankman-Fried

Embattled FTX founder was top donor to Democrats in 2022 midterms

The Independent UK

As FTX burned, lawmakers said to be dithering over regulator

WASHINGTON — Congress opted to tread water on legislation that would clarify the agency in charge of the cryptocurrency industry, leaving lawmakers now without a regulator to blame for missing the signs of the FTX collapse this month and facing deep skepticism about some proposals.

Tribune News Service

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As FTX burned, lawmakers said to be dithering over regulator - Roll Call

FTX founder Sam Bankman-Fried’s prominence on Capitol Hill is said to have tainted bills deemed too favorable to the cryptocurrency industry.

Roll Call

Beto O’Rourke returned $1 million check from FTX’s Sam Bankman-Fried

O’Rourke’s campaign said they gave the money back before the company’s scandals became widely public, because they were taken aback by such a large unsolicited donation.

The Texas Tribune

FTX collapse sends shockwaves through other Australian businesses

Withdrawals now suspended at the Brisbane-based cryptocurrency exchange Digital Surge for more than a week

The Guardian - AU

$1.4b in superannuation tied up in 'wild west' cryptocurrency as the FTX fallout continues

Mum and dad investors including pensioners are facing big losses on their savings, as the ripple effect from the collapse of global cryptocurrency exchange FTX continues.

ABC News

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Fidelity Charitable launches NFT raffle amid crypto downturn

Fidelity Charitable, the nation’s largest grantmaker, is getting into NFTs or nonfungible tokens despite a torrent of bad news about cryptocurrency companies

The Independent UK

BlockFi files for Chapter 11 bankruptcy protection

Cryptocurrency lender BlockFi is filing for Chapter 11 bankruptcy protection as the fallout from the collapse of FTX continues

The Independent UK

Elon Musk superfans unveil elaborate 12,000lb goat sculpture at Tesla headquarters - but he fails to accept it

‘I would say he is probably the most relevant person on the planet right now,’ cryptocurrency co-founder says of Tesla CEO

The Independent UK

Texas Is Becoming a Bitcoin-Mining Capital. Can the Grid Handle It?

Despite the FTX crash, ERCOT continues to court the cryptocurrency industry.

Texas Observer

Cryptocurrency world rocked by 'unexpected' death of major founder, 30, in his sleep

Tiantian Kullander, co-founder of Hong Kong-based digital asset company Amber Group in 2017, 'unexpectedly' died in his sleep on November 23, according to a spokesperson for his company

Daily Mirror

Wall Street’s ‘Dr. Doom’ calls crypto ‘corrupt gambling’ and rips ‘proof of reserves’ trumpeted after FTX collapse

Nouriel Roubini warned on Saturday, “Crypto is corrupt gambling where the house always & systematically front runs the retail suckers that get rekt.”

Fortune

NYC mayor takes supportive tone after governor signs bill restricting crypto mining

NEW YORK — New York City Mayor Eric Adams took a supportive if somewhat cryptic tone after New York Gov. Kathy Hochul signed legislation this week limiting some cryptocurrency mining in the state, casting the new law as an acceptable step toward smart tech policy.

Tribune News Service

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The Guardian - UK

If greed can ever be good, that philosophy didn’t work at FTX’s charity

The ‘ethics stuff’ was just a front, says the bankrupted cryptocurrency billionaire Sam Bankman-Fried

Evening Standard

Who is Michelle Mone? BBC airs documentary on ex Tory peer's downfall

Baroness Michelle Mone called the BBC documentary about her “misleading and one-sided”

The Guardian - AU

‘I am not a rich person’: 30,000 Australian FTX customers left out of pocket after collapse

Exchange’s local administrators flooded with emails from investors, with claims of up to $1m to date

Chicago Tribune

Commentary: The practice of proclaiming virtue while amassing wealth and power is not new

What do Elizabeth Holmes, Sam Bankman-Fried and Al Capone have in common? No, they are not all convicted felons. Capone did serve time for tax evasion, and Holmes was recently sentenced to 11 years in prison for defrauding the public through her blood-testing company Theranos. But Bankman-Fried, founder of the…

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Dublin Live

Black Friday 2022: Signs to watch out for on websites to avoid being scammed out of your money

Irish shoppers are being warned to be cautious and make sure that websites are secure, avoid using cryptocurrency, and to know their refund rights

The Guardian - AU

Senator raises concerns over lack of checks for crypto businesses seeking financial services licences

Andrew Bragg says businesses promote themselves as regulated – despite there being no regulation of cryptocurrency in Australia

Bangkok Post

Chinese suspect in crypto fraud arrested

Police have arrested a seventh member of a gang that allegedly duped people into investing in a fraudulent cryptocurrency scheme.

The Independent UK

$740M in crypto assets recovered in FTX bankruptcy so far

The company tasked with locking down the assets in the failed cryptocurrency exchange FTX said they’ve managed to recover and secure $740 million in assets so far, a fraction of the potential billions that is likely missing from bankrupt company’s coffers

Los Angeles Times

Michael Hiltzik: Thinking of putting crypto in your 401(k)? Think twice

The federal government has some advice for workers contemplating adding bitcoin or another cryptocurrency to their retirement holdings: Don't.

Edinburgh Live

East Lothian woman scammed out of thousands of pounds by cruel cryptocurrency scammer

Police Scotland have now launched a probe into the shocking series of events that took place several times between September and November 2022.

Fortune

Crypto customers looking to write-off FTX investments for taxes will need to wait

FTX customers may be facing huge losses, but most are in a holding pattern until bankruptcy proceedings bring some clarity and order to how the failed cryptocurrency exchange's assets will be handled.

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