The Latest Breaking News from FTX

How much did Crypto Winter freeze venture funding?

For the world of crypto, 2022 started with exuberance and ended with its unofficial spokesman in handcuffs.

Federal prosecutors are investigating an alleged cybercrime that drained more than $370 million out of FTX just hours after the cryptocurrency exchange filed for bankruptcy last month.

Today, there are people all over the world committed to cryptocurrency's endurance.

ALAMEDA, Calif. — Before his mid-December arrest, cryptocurrency billionaire Sam Bankman-Fried repeatedly claimed that he was a responsible business leader who sought more regulation of cryptocurrency and wanted his industry to be part of the mainstream financial system.

Some of the industry’s biggest names fell from historic highs historically quickly.

"While there's money involved, I don't think any of us would call on [regulators] to supervise online massive multiplayer games," argued Stephen Cecchetti.

As the demise of the FTX crypto empire unfolds — on Twitter, in bankruptcy proceedings, in congressional hearings and potentially in criminal court — lawmakers and regulators are grappling with a question: What, if anything, should they do to civilize a market so rife with abuse?

A judge agreed to keep secret that two of Sam Bankman-Fried's executive associates were cooperating with investigators so that the cryptocurrency entrepreneur would not change his mind and fight extradition from the Bahamas to the United States