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The Latest Breaking News from FTX

Sam Bankman-Fried resigns as FTX files Chapter 11 bankruptcy

The cryptocurrency exchange ends a messy week.

Fortune

Amid Uncertainty Over FTX Collapse BlockFi Suspends Withdrawals, Juul Shelves Bankruptcy Preparations, Berkshire Hathaway Trims Holdings In Tesla Competitor: Top Stories Friday, Nov. 11

Reuters

Benzinga

Mercedes suspends FTX sponsor deal; removes logos from F1 cars

Mercedes has suspended its Formula 1 sponsorship deal with crisis-hit crypto exchange FTX, meaning the company’s logos will be removed from the team's cars from the Brazilian Grand Prix.

Autosport

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What happens to the FTX empire’s 200+ crypto investments now?

SBF’s entities had their hands in everything, from stablecoin issuer Circle to investment firm SkyBridge Capital. What happens to those now?

Fortune

Crypto's nature is revealed by the downfall of Sam Bankman-Fried's FTX

There is nothing much holding crypto up except the belief it eventually will go higher.

Fortune

FTX assets frozen by Bahamas regulator as crypto exchange fights for survival

Founder Sam Bankman-Fried races to find funds to fill multibillion-dollar hole in exchange

The Guardian - UK

The spectacular collapse of a $30 billion crypto exchange should come as no surprise

Not long ago, FTX was one of the world’s largest trading platforms for cryptocurrencies. Founded in 2019, the Bahamas-based crypto exchange had a meteoric rise to prominence, and was valued at more than US$30 billion earlier this year.

The Conversation

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Dogecoin Soars, Bitcoin, Ethereum Recover Some Ground After Inflation Data: Analyst Says 'FTX Contagion Risks Remain Elevated'

Major coins regained buoyancy late on Thursday, after crashing a day prior, in wake of soft economic data released. The global cryptocurrency market cap shot up 8.85% to $880 billion at 8:41 p.m. EST.

Benzinga

Daily Telegraph’s ‘inaccurate’ reporting taken into account by judge when sentencing paedophile

‘Sensational’ reporting by News Corp and 2GB should be considered as additional punishment when deciding sentence, judge says. Plus: the AFR’s kiss of death

The Guardian - AU

Why Congress shouldn’t escape some responsibility for the FTX fiasco

Years of hesitation on digital asset legislation helped create the conditions for yet another crypto calamity.

Fortune

VC giant Sequoia writes down $214 million investment in FTX to zero: 'We are in the business of taking risk'

One of the most successful VC firms of all time invested in FTX in July 2021, when it was valued at $18 billion.

Fortune

Sam Bankman Fried breaks silence on what went wrong with FTX: 'I f****d up twice'

"I was slammed with things to do and didn't give updates to you all. And so we are where we are. Which sucks, and that's on me. I'm sorry.”

Fortune

People charmed by FTX CEO Sam Bankman-Fried will be 'looking and feeling fairly silly,' Larry Summers warns of crypto crackdown

The former Treasury secretary said the tech sector “has over-extrapolated from past success to believe that trees grow to the sky."

Fortune

What happened to FTX and could the crisis spill over to the rest of crypto?

International exchange for crypto assets is in effect unregulated – and may have been built on sand

The Guardian - UK

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Fortune

Is FTX the new Lehman Brothers—or worse?

FTX is a lot like Lehman Brothers—minus the government having its back.

Axios

Inside Sam Bankman-Fried's call with investors

FTX's founder and CEO was apologetic, but not terribly forthcoming.

Benzinga

With Bitcoin, Ether And Altcoins Drowning In A Sea Of Blood, Can Investors Hope To Catch A Falling Knife?

The cryptocurrency market continued its downward trajectory on Thursday morning, reeling under the implications of a failed deal between cryptocurrency exchange Binance and its rival FTX, with prices of major digital assets, including altcoins, trading at levels not seen

Benzinga

Troubled FTX Faces SEC Probe And 'Urgently Needs' $8B To Avoid Bankruptcy, NIO Posts Wider Q3 Loss, AstraZeneca Ditches US Application Submission For COVID-19 Shot: Top Stories Thursday, Nov. 11

Bloomberg

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news in one place.

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The Conversation

Cryptocurrencies: why Binance's failed FTX rescue deal could mean 'crypto winter' is coming

Life in the cryptocurrency industry is rarely quiet for long, and after a tumultuous summer, it seems the market is now entering a “crypto winter”. Over the past week, the founders of two of the largest cryptocurrency exchanges – Binance and FTX – have had a public Twitter spat that…

Fortune

Sam Bankman-Fried needs $4 billion. Fast.

Bankman-Fried apologized to investors and said he would be “incredibly, unbelievably grateful” if they could help out.

Fortune

3 ways crypto venture capital may change after the FTX debacle

CoinFund’s David Pakman weighs in on lessons learned for the industry amid the Binance/FTX mess.

The Guardian - UK

Cryptocurrency exchange FTX now worthless, says key investor

Firm valued at $25bn in 2021 suffered bank run-style crisis as investors rushed to withdraw money

The National (Scotland)

Massive cryptocurrency exchange FTX on verge of collapse as takeover fails

Binance said it would not be pursuing a deal after completing due diligence.

Bangkok Post

Investors expect crypto turmoil to get worse

Cryptocurrency markets endured heavy losses on Thursday, with bitcoin near a two-year low as investors fretted about the fallout from the implosion of FTX, the world’s second-largest crypto exchange.

The Guardian - UK

Wall Street surges and dollar tumbles as US inflation rate drops to 7.7% – as it happened

Dollar slides and stocks rally in New York on hopes that the Federal Reserve will slow its interest rate rises

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