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The Latest Breaking News from FTX

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

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.

Fortune

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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

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

Bangkok Post

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

Financial Times

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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.

Bangkok Post

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

Salon

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

The Guardian - UK

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.

Fortune

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

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

The FTX crash could be the start of a 'gold rush' for crypto lawyers

Lawyers with specialties in digital assets are giving way to experts in restructuring. “There's going to be a lot of work.”

Fortune

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inkl Originals

The Weekly Wrap for Saturday, 19 November 2022

We're loathe to kick someone while they are down but this story has gone from ludicrous to fever-dream. Sam Bankman-Fried is trying to tweet through it. FTX's bankruptcy specialists are rending their garments and ululating.

Zenger

Crypto Asset Class Going ‘Down In Flames,’ Steph Curry, Shaq Likely Safe In FTX Ponzi Case

FTX's bankruptcy may have cost investors $11 billion in damages, while celebrity promoters will probably walk away.

Fortune

How FTX's own token was the final nail in its coffin

“In the current crypto atmosphere, investors are right to ask questions of exchanges that have tokens, because they don't know what the exchange is doing behind the scenes,” Bitwise CIO Matt Hougan told Fortune.

Fortune

The Bahamas' endangered status as a crypto hub

The Caribbean nation is setting up a battle with the U.S. to protect its reputation.

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The Guardian - UK

What do we know so far about collapse of crypto exchange FTX?

How did Sam Bankman-Fried’s FTX fail and what does the firm’s fate tell us about cryptocurrencies?

Fortune

Tech venture capital fueled FTX’s rise—and bears some responsibility for its downfall

Mounting evidence shows VC firms ignored major warning signs and failed to take basic risk-mitigation steps.

Tribune News Service

Alexis Leondis: FTX users can’t count on help from the IRS

When market investors suffer losses — or get taken for a ride — they’re often eligible for a tax write-off to soften the blow. Users of the bankrupt crypto exchange FTX won’t be so lucky.

Newsroom.co.nz

The Week in Detail: Music industry, rehab, and crypto

The Detail podcast brings you the issues behind the news every weekday. Here's what we covered this week.

Fortune

What's next for Sam Bankman-Fried

Rumors are swirling that SBF is under criminal investigation. Here's how that could play out.

Los Angeles Times

FTX's downfall casts a shadow over other sports-rights deals. What's up, Crypto.com Arena?

When the Miami Heat announced in March 2021 that the team had sold naming rights for its arena to FTX, the response from sports fans was a resounding: Who?

The Independent UK

NOT REAL NEWS: A look at what didn't happen this week

Social media users shared a range of false claims this week

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People

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