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The Latest Breaking News from FTX

Crypto bank Silvergate announces liquidation amid sector turmoil

Wind-down and liquidation plan follows mass withdrawal of deposits after collapse of FTX exchange

The Guardian - UK

Crypto bank Silvergate collapses; HS2 delayed; US jobless claims jump – as it happened

Rolling coverage of the latest economic and financial news, as crypto turmoil leads to an “‘orderly wind down’ and ‘voluntary liquidation’ of Silvergate bank

The Guardian - UK

Silvergate bet everything on crypto, then watched it evaporate

NEW YORK: Silvergate Capital Corp spent its final days under siege.

The Times of India

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Top crypto bank collapses as Silvergate announces plans to wind down operations

The volatile sector's banking options are dwindling.

Fortune

Bankman-Fried might use flip phone under stricter bail plan

Prosecutors and attorneys for FTX founder Sam Bankman-Fried are requesting the disgraced cryptocurrency entrepreneur be allowed a flip-phone or another device that’s not a smartphone while on bail

The Independent UK

Judge ponders limits on FTX fraud suspect Sam Bankman-Fried’s phone and laptop

Disgraced crypto currency trader Sam Bankman-Fried has been admonished by a judge for violating the terms of his house arrest

The New Daily

Crypto’s favorite bank is on the brink. What happens if Silvergate fails?

Silvergate's collapse is a cautionary tale to the industry—and to regulators.

Fortune

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Bitcoin falls 5% overnight to $22,300—after touching $25,000 last month—as Silvergate troubles weigh on price

The cryptocurrency briefly broke $25,000 just last month.

Fortune

Bitcoin sinks to two-week low as Silvergate fallout hurts crypto

NEW YORK: Bitcoin dropped to the lowest level in about two weeks, part of a wider retreat in crypto markets as investors digested the unraveling of a key industry payments network.

The Times of India

Why must big City firms always fall for scams like FTX?

THERE must be some very awkward meetings taking place across the City and Wall Street right now. The sort of encounters where people bang tables and demand explanations, where they look at PowerPoints and Excels, and gasp.

Evening Standard

Near 50% fall in Silvergate’s shares over FTX exposure prompts survival doubts

Stock price of crypto-focused US bank plummeted in Thursday trading and it is assessing its ability to keep going

The Guardian - UK

Coinbase ends relationship with crypto bank Silvergate

After delaying its annual report, Silvergate’s share price opened more than 40% lower on Thursday.

Fortune

Nishad Singh, Indian-origin engineer at FTX, pleads guilty to fraud charges

NEW YORK: Nishad Singh, a 27-year-old engineer of Indian-origin, who previously served as the co-lead engineer of FTX Trading Ltd, has admitted to charges of committing fraud.

The Times of India

Robinhood and Coinbase shares end February on down note

Robinhood and Coinbase ended the month down 6.6% and 1.3%, respectively.

Fortune

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Fortune

70% of dealmakers say that investment managers share culpability for FTX

Investors have historically been made out to be victims in court when a startup implodes. But investors think VC firms share some responsibility.

Tribune News Service

Former FTX head of engineering Nishad Singh pleads guilty in billion-dollar fraud case

NEW YORK — The former head of engineering at Sam Bankman-Fried’s bankrupt cryptocurrency trading firm FTX owned up to fraud charges on Tuesday, federal prosecutors said.

Tribune News Service

News briefs

Pa. warrant reveals what police seized from Kohberger family home

Tribune News Service

Nishad Singh, former FTX head of engineering, pleads guilty in billion-dollar fraud case

The former head of engineering at Sam Bankman-Fried’s bankrupt cryptocurrency firm owned up to fraud charges on Tuesday, federal prosecutors said.

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Fortune

Another top lieutenant turns on FTX founder Sam Bankman-Fried as Nishad Singh pleads guilty

Singh was an early employee at Alameda and a prodigious Democratic donor.

Fortune

Robinhood received SEC subpoena shortly after FTX collapsed

The subpoena is another potential threat to Robinhood's struggling crypto business.

WEKU

Disgraced FTX founder Sam Bankman-Fried has another big problem: He won't shut up

Most white-collar defendants lay low, but the ex-CEO of the collapsed cryptocurrency exchange FTX has been talking, tweeting, and sending email newsletters. Those comments could come back to hurt him.

Tribune News Service

Bankman-Fried fraud indictment cites 2 unnamed co-conspirators

Fresh charges against FTX co-founder Sam Bankman-Fried include references to a pair of co-conspirators the U.S. says were involved in illegally seeking to influence the regulation of digital assets.

Fortune

Sam Bankman-Fried and FTX straw donors made tens of millions of dollars in illegal political contributions, DOJ alleges

New counts were unsealed against the disgraced FTX founder on Thursday.

The Guardian - UK

Phoenix Community Capital case shines light on UK’s lobbying problem

Interest groups have poured about £250,000 into all-party parliamentary groups in past five years

Roll Call

Bankman-Fried used customer funds for campaign largesse, charges say

Customer money bankrolled millions in political donations made by former FTX CEO Sam Bankman-Fried, federal prosecutors say.

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