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The Latest Breaking News from Sam Bankman-Fried

Is it time for Big Business to stop spending money on elections?

In an increasingly toxic political climate, the reputational risks of corporate donations to candidates could outweigh the potential gains.

Fortune

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.

inkl Originals

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.

Zenger

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read the most diverse news in one place.

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

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?

The Guardian - UK

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

What's next for Sam Bankman-Fried

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

Fortune

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New FTX CEO Describes 'Complete Failure of Corporate Controls' in Scathing Court Filings

Plus: Twitter is alive and well, the U.K. considers unprecedented tax hikes, and more...

Reason

Binance's CZ calls alleged FTX fraudster SBF a 'psychopath' over tell-all threat

Changpeng Zhao, who suspects FTX of leaking information that endangered his children, had set in motion the events that sank FTX last week and wiped out all of his rival's wealth.

Fortune

Leaked FTX documents offer clues as to why VCs may have ignored due diligence

Staggering growth and FOMO whetted the appetite of venture capitalists, as evidenced by early SBF pitch files.

Fortune

A prominent investor once advised Sam Bankman-Fried’s FTX to form a board

The crypto exchange FTX, once valued at $26 billion, was operating without a real board. Its downfall could lead to renewed pressure for private companies to have independent directors.

Fortune

The Ferguson Report (Satire): Donald and Melania plan romantic ceremony to renew pre-nup

Tim Ferguson breaks down this week's news - including Donald Trump's announcement.

The New Daily

FTX collapse a warning to crypto bros

Crypto exchange FTX was valued at more than $30 billion just weeks ago. Now it's in bankruptcy proceedings

Salon

FTX had a 'complete absence of trustworthy financial information' says new CEO

The man appointed to administer the collapsed crypto exchange in chapter 11 bankruptcy, who oversaw the clean-up after Enron's collapse, says he has never seen "such a complete failure of corporate controls".

ABC News

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The Guardian - AU

The grotesque inequality embodied by Musk, Bezos and Zuckerberg is a threat to democracy

Something’s wrong when basic infrastructure maintenance seems utopian, while the hare-brained schemes of tech oligarchs become routine

Fortune

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.

Daily Mirror

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

Fortune

'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.

Get all your
news in one place.

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One news app.

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."

Axios

Sam Bankman-Fried's farcical fundraising effort

The former FTX CEO has lost the plot.

The Guardian - US

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’

Fortune

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

The founder of FTX won't stop talking.

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…

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Dr Oz

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