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The Latest Breaking News from Sam Bankman-Fried

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

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

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

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

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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

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

Qatar 2022 WTF: How did we get here?

This World Cup is a farcical disaster, but that's not Qatar's fault. Call it punishment for the sins of capitalism

Salon

Power-hungry robots, space colonization, cyborgs: inside the bizarre world of ‘longtermism’

Sam Bankman-Fried said his billions would save the world – but his philanthropic ideas ranged from the worthy to the severely outlandish

The Guardian - US

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

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

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Fortune

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.

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.

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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.

Fortune

What's next for Sam Bankman-Fried

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

Reason

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...

Fortune

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.

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