FTX co-founder Sam Bankman-Fried is escorted by corrections officers to the Magistrate’s Court on December 21, 2022 in Nassau, Bahamas. Joe Raedle | Getty Images Sam Bankman-Fried is flying Wed...
Tag: Cryptocurrency exchanges
Indicted FTX founder Sam Bankman-Fried to return to U.S. after hearing
Sam Bankman-Fried, co-founder of FTX, is escorted out of the Magistrate’s Court in Nassau, Bahamas, on Monday, Dec. 19, 2022. Tristan Wheelock | Bloomberg | Getty Images FTX founder Sam Bankman-...
The Crypto Ice Age Is Here. What’s Ahead for Bitcoin.
For crypto investors, the only thing to celebrate about 2022 is that it is almost over. The industry is fighting for its life amid a cascade of scandals, bankruptcies, and fury in Washington over its ...
Sam Bankman-Fried will now surrender himself for extradition before Bahamian court Monday, says source
FTX founder Sam Bankman-Fried (2nd L) is led away handcuffed by officers of the Royal Bahamas Police Force in Nassau, Bahamas on December 13, 2022. Mario Duncanson | AFP | Getty Images FTX founder an...
Crypto’s Onetime Fans Are Calling It Quits After FTX Collapse
Buying crypto was so much fun when it was going up. Now, many onetime fans are getting out. This year has brought crisis after crisis, raising questions about the industry’s long-term prospects. Two m...
Former FTX spokesman Kevin O’Leary defends endorsement of crypto firm
“Shark Tank” star Kevin O’Leary defended his position as a spokesperson for bankrupt crypto firm FTX on CNBC’s “Squawk Box” Friday morning. CNBC anchors Andrew Ross...
The Crypto Ice Age Is Here. It Could Get Even Worse.
For crypto investors, the only thing to celebrate about 2022 is that it is almost over. The industry is fighting for its life amid a cascade of scandals, bankruptcies, and fury in Washington over its ...
Binance CEO brushes off $2.1 billion FTX clawback concerns
Binance chief executive Changpeng “CZ” Zhao dismissed concerns that his company could have $2.1 billion clawed back as a result of FTX’s bankruptcy proceedings, in an appearance on S...
Binance Crypto Exchange Faces Test as Customers Withdraw Funds
There’s nothing in crypto like the New York Stock Exchange, but if the industry has anything close, Coinbase Global and Binance fill that role. Coinbase (ticker: COIN) is based in the U.S. and provide...
FTX’s new CEO John J. Ray making $1,300 an hour
John J. Ray, chief executive officer of FTX Cryptocurrency Derivatives Exchange, arrives to a House Financial Services Committee hearing investigating the collapse of FTX in Washington, DC, on Tuesday...
FTX fallout continues with Bankman-Fried arrest. But where is former Alameda CEO Caroline Ellison?
FTX founder Sam Bankman-Fried is squarely in the spotlight following his arrest in the Bahamas, but attention is also focused on the whereabouts of Caroline Ellison, former CEO of Alameda Research, th...
CFTC piles on with new charges against Bankman-Fried
FTX logo on mobile screen with crypto coins are displayed for illustration. Jonathan Raa | Nurphoto | Getty Images Charges continue to mount for disgraced FTX co-founder Sam Bankman-Fried, with the Co...
FTX executives spent $256 million on Bahamas real estate
The Bahamas has more than 700 islands and cays; remote workers and students can live on 16 of them, including Eleuthera (shown here). Sylvain Sonnet | The Image Bank | Getty Images Bahhamian lawyers s...
These are the 5 most damning things FTX’s CEO has to say about Sam Bankman-Fried
Sam Bankman-Fried’s management of FTX was an “utter failure” that lacked any level of financial control and allowed his family-office trading vehicle, Alameda Research, to raid the crypto exchange’s c...
Binance and Its CEO at Risk of Criminal Charges Over AML Rules: Report
The cryptocurrency exchange Binance and executives including CEO Changpeng Zhao are at risk of U.S. criminal charges over compliance with U.S. money-laundering laws and sanctions, according to a repor...
The Block CEO showed ‘serious lack of judgment’ in taking loans from FTX’s Sam Bankman-Fried and not disclosing them
The fallout from the implosion of FTX continues, with crypto publication The Block on Friday announcing that Michael McCaffrey has stepped down as its chief executive officer after failing to disclose...
Short selling giant Jim Chanos is still short on Coinbase, Tesla and the FOMO-investment market
Short selling giant Jim Chanos is still pretty bearish on a number of stocks including Coinbase and Tesla, he said on Thursday. In a Twitter Spaces conversation, Chanos was asked about the FTX fiasco ...
Legal Pressure Grows on FTX’s Sam Bankman-Fried
Legal difficulties are mounting for Sam Bankman-Fried, the founder and former CEO of FTX—and it doesn’t seem to be limited to the crypto exchange’s collapse last month. FTX filed for bankruptcy on Nov...
FTX spokesman Kevin O’Leary says he lost $15 million crypto payday
Investor, “Shark Tank” judge and CNBC contributor Kevin O’Leary said Thursday he’s lost all of the $15 million FTX paid him to act as a spokesman for the now-collapsed crypto e...
FTX fiasco one of the most egregious cases of ‘gross negligence,’ says Ackman
Hedge-fund titan Bill Ackman appears to be walking back comments he made via Twitter last week about Sam Bankman-Fried that some interpreted as implicit support for the 30-something who presided over ...
Sam Bankman-Fried ‘Wasn’t Even Trying’ to Manage Risk at FTX, He Says
FTX founder Sam Bankman-Fried said he made no effort to manage risk at the digital-asset exchange that filed for bankruptcy in November, part of a blitz of public statements about major oversight fail...
Sam Bankman-Fried’s FTX roadshow goes on: 10 crazy things he’s just said
Sam Bankman-Fried sure isn’t going quietly into the night. With his crypto empire in ruins, numerous federal probes and years of litigation hanging over his head, the FTX founder has counter-intuitive...
Binance launched a proof-of-reserves system for bitcoin holdings. What are proof of reserves?
Crypto exchange Binance launched a new website that explains its proof of reserves system. But why did the company do it and what does it mean? Here’s a breakdown of why the term has been making its r...
Where to Get Yields of 10% and Up, if You Can Stomach a Little Risk
The $280 billion convertibles sector is replete with 10%-plus yields on many issues. There is a risk in these high-yielders, but they can offer nice appreciation potential and a good alternative to th...
Investors Have Lost Faith in Crypto Exchanges. JPMorgan Sees an Opportunity.
A string of crypto business failures has stranded millions of dollars in customer funds this year, underscoring the level of trust needed for groups that are custodians of digital assets. JPMorgan Cha...
Binance U.S. Arm to Bid for Bankrupt Voyager Digital’s Assets After FTX Collapse
The U.S. arm of Binance, the world’s largest cryptocurrency exchange, will make a bid for bankrupt lender Voyager Digital following the collapse of FTX, which in September won an auction for the comp...
Wall Street Is Saying ‘No’ to a Bitcoin Rebound. Bearish Bets Are Piling Up.
Bitcoin has been licking its wounds from two-year lows in the wake of crypto exchange FTX’s bankruptcy this month. Sentiment may be cautiously improving in the digital-asset world, but investors on Wa...
$740 million in crypto assets recovered so far in FTX bankruptcy
NEW YORK — The company tasked with locking down the assets of the failed cryptocurrency exchange FTX says it has managed to recover and secure $740 million in assets so far, a fraction of the potentia...
Why Bitcoin Has Weathered FTX’s Collapse and Why It Isn’t Time to Buy
The bomb that went off this month in the crypto industry has only given Bitcoin a flesh wound. There are good reasons why the largest crypto token has held up despite the disorder that surrounds it, b...
Visa, Mastercard are ‘great defensive names’ for 2023, but PayPal and Coinbase stocks could be set for a rebound, analysts say
Whether you’re looking to scoop up some beaten-down bargains or trying to play it safe, analysts see potential in the payments sector heading into the new year. With a potential recession on many inve...