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The Latest Breaking News from Cryptocurrency

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.

Bangkok Post

$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

The Independent UK

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.

Los Angeles Times

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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.

Edinburgh Live

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.

Fortune

5 major revelations about the collapse of crypto giant FTX

At the first hearing in FTX's bankruptcy proceedings, lawyers confirmed that millions of dollars are stolen or missing, and revealed stunning details about the downfall of the once-mighty exchange

WEKU

‘Betrayed’: FTX meltdown signals end to crypto’s ‘Wild West’ days

Cryptocurrency exchange’s spectacular collapse spurs government scrutiny and calls for greater regulation.

Al Jazeera

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FTX lawyer: 'Substantial amount' of assets has been stolen

The lawyers for FTX disclosed Tuesday that a “substantial amount" of assets has been stolen from the accounts of the collapsed cryptocurrency exchange, diminishing the odds that its millions of investors will get their money back

The Independent UK

Satyajit Das believes crypto boom and bust is just part of 'every bubble being pricked' in wider market sell-off

One of the few financiers who sounded a warning bell before the global financial crisis believes today's cryptocurrency "meltdown" was predictable, and that "nobody is taking much notice" of a broader financial market problem.

ABC News

FTX was run as ‘personal fiefdom’ of Sam Bankman-Fried, court hears

Hearing in Delaware bankruptcy court is the first since the cryptocurrency exchange declared bankruptcy earlier this month

The Guardian - US

Michael Hiltzik: How Sam Bankman-Fried exploited the 'effective altruism' fad to get rich and con the world

The most uplifting aspect of the Sam Bankman-Fried story was always that he guided his way to a putative cryptocurrency fortune of more than $16 billion by following a philosophy of charitable giving known as "effective altruism."

Los Angeles Times

FTX bypassed regular process for obtaining Australian financial services licence

Crypto exchange took over a company that already held a licence and the regulator did not assess its fitness

The Guardian - AU

Cryptocurrency firm FTX’s fall pains industry, but Texas stays optimistic

FTX’s bankruptcy has been a painful setback for the industry. But many legislators, investors and enthusiasts remain believers in making Texas crypto’s top destination.

The Texas Tribune

Crypto exchange FTX owes nearly $3.1bn to 50 biggest creditors

Company says cryptocurrency allegedly stolen in collapse being transferred to other exchanges

The Guardian - UK

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Bangkok Post

Cryptos sag as funds drained from FTX switch out of ether

SINGAPORE: Cryptocurrency prices struggled Monday in the ongoing crisis sparked by the downfall of Sam Bankman-Fried’s once powerful FTX empire

Reason

New FTX CEO Describes 'Complete Failure of Corporate Controls' in Scathing Court Filings

Plus: Twitter is alive and well, the U.K. considers unprecedented tax hikes, and more...

Chicago Tribune

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…

Salon

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

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Birmingham Post

AutoCoinCars makes its first bitcoin motorbike sale

The online marketplace has more than 850 dealerships on it selling cars for cryptocurrency

Daily Mirror

Miami Heat's arena could be sponsored by strip club after crypto company collapses

Miami Heat are looking for a new naming partner for their stadium following the collapse of FTX, the third-largest cryptocurrency exchange in the world - and a strip club has joined the race

Los Angeles Times

Bill Shaikin: Shohei Ohtani and Major League Baseball take a hit over FTX ties

LOS ANGELES — This should be a banner week for Shohei Ohtani, baseball's truly global superstar.

Daily Mirror

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

The Independent UK

Matt Hancock paid £10,000 to give cryptocurrency speech

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

Newsroom.co.nz

How a huge cryptocurrency exchange failed

The convoluted story of two intertwined companies which brought the value of cryptocurrencies to their knees.

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…

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