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The Latest Breaking News from FTX

Will Bunch: Billionaires like Musk, Bankman-Fried didn't save the world. They wrecked it. Let's take it back

After growing up amid upper-middle-class affluence in Silicon Valley as the children of two Stanford Law School professors, as a super-smart kid who got into MIT to study physics, Sam Bankman-Fried decided in those teen years that he wanted to save the world in the worst way.

The Philadelphia Inquirer

FTX founder Sam Bankman-Fried and his parents built million-pound property empire in the Bahamas

Together, the family, the company and its executives bought nineteen properties over two years

Evening Standard

Wringing its hands over FTX's collapse, Washington hopes to prevent more crypto pain

Congress, which has been unable to pass comprehensive crypto legislation, is digging into what happened as regulators try to police the new, mysterious world of virtual currencies with old laws.

WEKU

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Crypto's latest mystery: Who is the owner of major exchange Huobi?

In the vexing world of cryptocurrencies, the seemingly simple question of who owns an exchange can turn out to be fiendishly tricky.

The Times of India

Crypto lender Genesis denies bankruptcy plans after FTX collapse

Genesis’s comments come days after it halted customer withdrawals due to liquidity difficulties.

Al Jazeera

Tom Brady, Steph Curry and other celebrities face Texas investigation for endorsements of bankrupt crypto firm

This probe is part of the state’s wider investigation into FTX’s multibillion-dollar bankruptcy.

The Texas Tribune

What will happen to nearly a third of SkyBridge Capital? Here's how 'The Mooch' could get back his company

Less than two weeks ago SBF and Scaramucci embarked on a fundraising trip together in the Middle East. Now, nearly a third of Scaramucci's firm is tied up in bankruptcy proceedings.

Fortune

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Did Sam Bankman-Fried's Millions Buy the Media's Loyalty?

The mainstream coverage of SBF and FTX is more than a little blasé.

Reason

Assigning blame when startups break bad

The best con artists are the ones who identify the system’s frailties and then exploit them.

Axios

Congress will be taking a closer look at Sam Bankman-Fried’s political spending spree

The former FTX CEO became the Democratic party’s top donor apart from George Soros during the last election cycle.

Fortune

Mark Cuban says his interest in crypto is ‘still status quo, no change’ post-FTX collapse

Mark Cuban shares his stance on crypto after exchange FTX collapsed and disgraced former CEO Sam Bankman-Fried disrupted the industry.

Fortune

What the FTX downfall can teach us about crypto regulation

City comment: Far from quashing innovation, crypto regulation will set essential ground rules and protections for market participants

Evening Standard

FTX's implosion raise questions about Genesis, Crypto.com, and Silvergate

BlockFi is likely the just first of some big dominoes to fall in the wake of the FTX collapse. Here are some others to watch.

Fortune

The fall of FTX marks the end of the “wild west” days of crypto

City Comment : There is something of the Fyre Island festival debacle about the downfall of crypto platform FTX. Like the 2017 scandal, there is a backdrop of sun kissed silver beaches - FTX operated largely out of the Bahamas - an apparently credible charismatic 30 year old entrepreneur running…

Evening Standard

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Fortune

The Abu Dhabi F1 Grand Prix was a festival of corporate sponsorship—and FTX's absence stood out

Crypto companies were everywhere at the race track.

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

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Financial Times

Stephen Diehl: Crypto is the ‘commoditisation of populist anger, gambling and crime’

The software engineer has denounced crypto assets as vehicles for pure speculation. But his views have made him a target of harassment — including death threats

Bangkok Post

The Myth of Tech God Is Crumbling

Tech is full of smart people who build, run and invest in successful companies that have produced a tremendous amount of innovation. But the industry's recent spate of failures and reversals has made one thing clear: Many of its leaders aren't as smart as they thought they were.

Salon

Sam Bankman-Fried and "longtermism"

I'm not surprised that longtermism led to fraud, corruption and disaster. I'm mostly surprised it wasn't worse

The Guardian - UK

Beware self-made ‘genius’ entrepreneurs promising the earth. Just look at Elon Musk

Silicon Valley ‘saviours’ are the heroes of the hour. Too often they have feet of clay

Fortune

Scammers are targeting desperate FTX customers by pretending to be the DOJ and promising access to funds

Police warned Saturday about a website pretending to help desperate FTX users recover their funds.

The Guardian - UK

‘The money is gone’: people who lost out in FTX’s collapse

Smaller investors tell how they found themselves unable to withdraw money as rumours of the exchange’s troubles spread

The Guardian - UK

Polyamory, penthouses and plenty of loans: inside the crazy world of FTX

After the crypto firm collapsed, the executive who handled the Enron debacle was brought in – and said he’d never seen anything like it

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