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The Latest Breaking News from FTX

Kraken's incoming CEO labels FTX and SBF as 'thieves,' says acquisition rumors unfounded

“I think, what it boils down to from all the information we have [and] this bankruptcy report that has now been released is that FTX and SBF are complete frauds—not just frauds, but thieves,” David Ripley, incoming CEO at Kraken, tells Fortune.

Fortune

Miami Heat's arena could be sponsored by strip club after crypto company collapses

Miami Heat are looking for a new naming partner for their stadium following the collapse of FTX, the third-largest cryptocurrency exchange in the world - and a strip club has joined the race

Daily Mirror

Bill Shaikin: Shohei Ohtani and Major League Baseball take a hit over FTX ties

LOS ANGELES — This should be a banner week for Shohei Ohtani, baseball's truly global superstar.

Los Angeles Times

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The Enron man in charge of restructuring FTX has one big takeaway from this bankruptcy: There is no paper trail

Usually in bankruptcies, it's at least clear who the 50 largest creditors are, or where the money was coming from. Not this time.

Fortune

FTX users have a leg up on other crypto bankruptcy victims—on paper

If FTX customers retain control of their digital assets, then those funds need to be returned—not put through bankruptcy.

Fortune

Tom Brady sued over crypto currency collapse which could cost NFL legend millions

Seven-time Super Bowl champion Tom Brady is being sued for his role in promoting cryptocurrency exchange FTX, which had to seek bankruptcy protection last Friday

Daily Mirror

FTX broke ground on a $60M Bahamas headquarters in April. Construction never started

The project promised hundreds of jobs, but “nothing was ever done.”

Fortune

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'We didn't even notice': Binance CEO CZ on alleged FTX battle

Changpeng Zhao also said in a Thursday interview he hopes the blame for FTX’s failure falls squarely on SBF.

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.

Fortune

As FTX crumbled, Sam Bankman-Fried's Bahamas penthouse was put up for sale. The listing was a fake

A viral real estate listing thought to belong to SBF was the result of a "web malfunction."

Fortune

How a huge cryptocurrency exchange failed

The convoluted story of two intertwined companies which brought the value of cryptocurrencies to their knees.

Newsroom.co.nz

Sam Bankman-Fried's farcical fundraising effort

The former FTX CEO has lost the plot.

Axios

New FTX boss, who worked on Enron bankruptcy, condemns ‘unprecedented failure’

US corporate restructuring expert John Ray says ‘never in my career have I seen such a complete failure of corporate controls’

The Guardian - US

SBF is unraveling before our eyes, and it's not pretty

The founder of FTX won't stop talking.

Fortune

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Tribune News Service

FTX latest: Bankruptcy lawyers accuse SBF of undermining case

Sam Bankman-Fried is undermining efforts to reorganize his crumbling empire with “incessant and disruptive tweeting,” US lawyers for the bankrupt crypto platform FTX said in a court filing.

The Conversation

Dramatic collapse of the cryptocurrency exchange FTX contains lessons for investors but won't affect most people

In the fast-paced world of cryptocurrency, vast sums of money can be made or lost in the blink of an eye. In early November 2022, the second-largest cryptocurrency exchange, FTX, was valued at more than US$30 billion. By Nov. 14, FTX was in bankruptcy proceedings along with more than 100…

Axios

The crypto dominoes in the wake of FTX exchange collapse

It's a classic case of contagion.

Fortune

“This is fraud:” Coinbase CFO says of FTX as more crypto fintechs get caught in contagion

Alesia Haas is trying to assure consumers that FTX was merely a bad actor and is not representative of the whole industry.

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Fortune

How to raise $2 billion with a sloppy Excel spreadsheet

Sam Bankman-Fried's homespun FTX fundraising documents show disorganization.

Motorsport

Mercedes F1 team left in "disbelief" over FTX collapse

Mercedes says it has been left in 'disbelief' over the collapse of its Formula 1 sponsor, the crypto exchange FTX, last week.

Bangkok Post

FTX case has raised 'serious allegations', says Singapore minister

SINGAPORE: The collapse of crypto exchange FTX has raised "very serious allegations that amount to potential fraud", Singapore's finance minister and deputy prime minister said on Thursday.

The Conversation

FTX bankruptcy is bad news for the charities that crypto mogul Sam Bankman-Fried generously supported

FTX, an exchange for trading cryptocurrencies, quickly became bankrupt and defunct in November 2022. Its founder, Sam Bankman-Fried, is broke, and the 30-year-old former billionaire could be in serious legal trouble for his alleged financial improprieties. The Conversation asked Brian Mittendorf, an accounting scholar at The Ohio State University, to…

Fortune

FTX's disgraced founder SBF still thinks he can rebuild his bankrupt crypto empire and make customers whole

The 30-year-old who fashioned himself as an altruist claimed FTX was not in a balance sheet crisis with its very solvency at risk, merely a liquidity crisis.

Fortune

SBF’s dangerous decision-making philosophy that brought down FTX

SBF and Elon Musk's coin-flipping approach to business can work–until it doesn't. Here's why, according to cognitive scientist Gleb Tsipursky.

Axios

For embattled FTX founder Sam Bankman-Fried, incompetence could be a legal strategy

If federal authorities want to pursue criminal charges, they'll have to prove intent, experts say.

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