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The Latest Breaking News from Cryptocurrency

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

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

The Guardian - UK

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”

Evening Standard

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‘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

The Guardian - AU

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…

Chicago Tribune

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

Dublin Live

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

The Guardian - AU

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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

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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The Independent UK

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

ABC News

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.

The Guardian - US

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

Los Angeles Times

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."

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The Guardian - AU

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 Texas Tribune

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 Guardian - UK

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

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

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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