Citadel’s billionaire founder and CEO Ken Griffin has weighed in on FTX’s speculator collapse, calling on American regulators to cooperate with each other to better supervise the crypto in...
Tag: Companies
SEC v. Ripple: 16 companies granted a motion to file an amicus brief
The latest hearing for SEC’s lawsuit against Ripple saw the latter gaining a significant advantage The judge has given until 18 November for 16 companies to file their briefs More than two months afte...
FTX to reorganize, new CEO seeks support from staff during company conference call
FTX’s new CEO John Jay Ray III called on staff to rally together during an all-hands meeting after last week’s bankruptcy protection filing, people who were on the call told The Block. &#...
SBF tells New York Times that he ‘could be worse’
Former FTX CEO Sam Bankman-Fried told the New York Times that he had numerous regrets over the collapse of the company in a wide-ranging interview on Sunday in which the paper described him as “...
The Block: Bitcoin mining stock report: Monday, November 14
Bitcoin stocks broadly traded down on Monday, Nov. 14. Bit Digital clocked the biggest gains on Monday, adding 3.64%. Elsewhere, TerraWulf and Mawson Infrastructure Group also added modest gain...
Nu Holdings’s Q3 profit bests estimate; shares rise
Nu Holdings reported a surprise net profit of $7.8 million, besting analyst expectations for a net loss of $9 million. The Sao Paulo-based neobank’s third-quarter revenue totaled $1.3 bill...
Amazon set to lay off 10,000 employees as reductions mount: NYT
Amazon is on the verge of cutting 10,000 positions in what would be the company’s largest mass-firing, representing around 3% of corporate and 1% of global employees, The New York Times reported, citi...
BlockFi says platform pause will continue
Crypto lending firm BlockFi said it would continue to pause many of its platform activities “for now” after FTX filed for bankruptcy protection last week. “The rumors that a ma...
Ikigai’s Travis Kling says hedge had ‘large majority’ of assets on FTX
Ikigai Asset Management, a Puerto Rico-based crypto asset management startup, held a “large majority” of its assets on FTX and was not able to withdraw much of those assets after the excha...
Which Well-Known Companies Accept Crypto Currently?
Advertisement     Crypto adoption has been picking up pace in recent years, and more companies are coming on board to meet customer demand and serve the growing audien...
Paxos freezes assets tied to FTX after law enforcement directive
U.S. law enforcement officials directed Paxos on Saturday to freeze assets previously held on FTX. Paxos, a regulated blockchain infrastructure platform, froze 11,184.38 PAXG tokens valued at ro...
Buterin may have sold nearly $4 million in ether after FTX bankruptcy filing
A wallet known to be associated with Ethereum founder Vitalik Buterin sold 3,000 ether early Saturday, less than 24 hours after crypto exchange FTX filed for bankruptcy protection, according to Ethers...
FTX collapse to trigger structural change in crypto markets, away from centralization
The collapse of FTX last week will trigger significant market structure changes, namely moving away from a model of all-in-one platform centralization, crypto trading firm Cumberland said. The v...
Binance will launch a new ‘industry recovery fund’
Binance will launch a new fund to help prop up crypto projects facing liquidity crunches. Changpeng Zhao, Binance’s CEO, tweeted about the plan early on Nov. 14. “To reduce further cascadi...
Pissed, pessimistic and paranoid, FTX clients face new reality: ‘It’s all gone.’
Crypto investor Sean Taggart’s opinion of FTX and its founder Sam Bankman-Fried soured radically in recent days. “Should’ve known when he said he was a vegan altruist not to trust him,” said the 3...
FTX under investigation for possible criminal misconduct in the Bahamas
FTX, which filed for Chapter 11 bankruptcy protection in the U.S. on Friday, is now under investigation in its headquarters of the Bahamas. “In light of the collapse of FTX globally and the prov...
After pausing withdrawals, BlockFi customers are confused and angry
In the aftermath of FTX’s dramatic demise, crypto lending firm BlockFi stunned users with an announcement that it would pause withdrawals. Now, they’re waiting confused and without many an...
3Q Earnings Weren’t Bad. But 2023 Estimates Could Be Ugly.
Wall Street expected 2023 earnings forecasts to drop after third-quarter results came in. That time has come. With companies that account for some 90% of the S&P 500’s market capitalization having...
Bahamas regulator contradicts FTX claim that it was required to process local withdrawals
The Securities Commission of the Bahamas (SCB) did not require failed crypto exchange FTX to allow withdrawals for users in the country, according to a statement shared on the financial regulator̵...
A Berkshire Hathaway Bright Spot: Energy. Here Are the Numbers.
Warren Buffett likes energy. Berkshire Hathaway now owns some $58 billion of Chevron and Occidental Petroleum securities. It isn’t Berkshire’s largest holding; that would be insurance, led by auto ins...
Paradigm marks down FTX investment to zero: Sources
Crypto investment firm Paradigm has told its limited partners that it marked down its investment in now bankrupt exchange group FTX to zero following its liquidity meltdown, according to two persons f...
FTX spent $74 million on real estate in the Bahamas this year: Exclusive
Now-bankrupt crypto exchange FTX Group went on a real estate splurge this year, according to government documents obtained by The Block and confirmed by two former FTX employees. In total, the ...
CZ vows to be ‘more vocal’ about competition following FTX collapse
Binance CEO Changpeng Zhao says he will be loosening up his “policy to not comment on competitors (we call industry peers) publicly” following the collapse of FTX. “Going forwa...
My Companies Positioned Well for Tough 2023, Here’s Why DOGE May Benefit Here
Yuri Molchan New Twitter boss reassures that his companies are ready for next year, which he expects to be tough; three of them already accept DOGE Tesla chief Elon Musk, who recently acquired Twitter...
FTX had only $900 million in liquid assets backing $9 billion in debt: FT
FTX had only $900 million in liquid assets against $8.9 billion in liabilities on the eve of bankruptcy, the Financial Times reports. Citing investment materials, the report noted that the large...
Crypto Companies Start Toppling Like Dominoes
Several crypto companies and firms are beginning to feel the extent of the damage of the FTX collapse, as some of them have funds stuck in the exchange. While some of the affected companies have start...