Two congressional hearings will be held next week on the collapse of cryptocurrency exchange FTX and U.S. lawmakers have asked former FTX CEO Sam Bankman-Fried (SBF) to testify. As the founder of FTX ...
Tag: Failure
U.S. banking committee says SBF ‘must answer for the failure’ of FTX
The US senate banking committee in a Dec. 7 letter to Sam Bankman-Fried said he must answer for the failure of his crypto firms in a hearing scheduled for Dec. 14. The committee chairman Sherrod Brown...
Rep. Torres asks US GAO to investigate SEC ‘failure’ to protect public against FTX
An American legislator has asked the United States Government Accountability Office (GAO) to look into the performance of the Securities and Exchange Commission (SEC) regarding the recently failed cry...
Crypto.com CEO tells how past failure made him stronger
Kris Marszalek, CEO of Crypto.com has decided to go public and tell the story of a past business failure. 1) More FUD targeting https://t.co/pFc4Pz9nFR is coming, this time about a business failure I ...
Senators want more info on Silvergate’s ‘egregious failure’ on FTX
A bipartisan group of senators want more information from Silvergate Bank, a bank that caters to crypto and fintech clients, about the bank’s current financial wellbeing, while also taking the c...
FTX was the ‘fastest’ corporate failure in US history — Trustee calls for probe
The United States Trustee handling FTX’s bankruptcy proceedings has referred to the now-defunct exchange as the “fastest big corporate failure in American history,” and is calling for an independent p...
US lawmakers launch official inquiry into FTX failure
In a rare bi-partisan move, the US Congress, through its Agriculture Committee on crypto regulation, is set to launch an official inquiry into the FTX collapse. US lawmakers FTX inquiry On Nov. 15, ...
Blockchain games are doing great despite the failure of FTX
FTX’s collapse has shocked the crypto world and taken billions of dollars from the market. Alongside the LUNA collapse and some crypto hacks, this year has been the worst year for crypto investors, an...
Telegram Announces Plans to Build Decentralized Crypto Exchange Following FTX Failure
As the collapse of the crypto exchange FTX shakes faith in the industry’s centralized players, Telegram is stepping in to build trustless and decentralized alternatives. In his Telegram channel on We...
US Treasury Secretary Yellen refers to FTX failure to “Lehman moment” for crypto
Ms. Yellen, in her remarks at the New York Times DealBook summit, referred to cryptocurrencies as “hazardous assets” and expressed gratitude that the recent volatility in the cryptocurrency market had...
FTX Collapse Should Not Be Consider As Failure Of Crypto: EU Deputy Director General
On Wednesday, Deputy Director DG FISMA, Alexandra Jour-Schroeder, in the EU Parliament hearing said the EU doesn’t see FTX as a failure of crypto or blockchain. In addition to this, he blamed SBF for ...
ERI’s John Shegerian Points to FTX Failure as Prime Example Why Qualified, Ethical Governance is Essential in Business
NEW YORK–(BUSINESS WIRE)–#circulareconomy–In the wake of the massive FTX Crypto collapse, which many experts and analysts are referring to as “the biggest and most far-reaching financial scandal in re...
Mike Novogratz Expects Trust to Slowly Return After FTX Failure
The CEO of Galaxy Digital expects a slow grind to build trust with clients as back-to-back black swan events hit the crypto industry. In an interview with CNBC, Mike Novogratz, the CEO of Galaxy Digit...
FTX Collapse Isn’t a Crypto Failure — It’s a Failure of SEC, Bankman-Fried, Centralized Finance – Regulation Bitcoin News
U.S. Congressman Tom Emmer says the FTX meltdown is not a crypto failure but a failure with SEC Chairman Gary Gensler, former FTX CEO Sam Bankman-Fried, and centralized finance. “We need to get to the...
FTX Collapse Is ‘Not a Crypto Failure,’ Says Minnesota Rep. Tom Emmer
Minnesota Representative Tom Emmer took both former FTX CEO Bankman-Fried and Securities and Exchange Commission chair Gary Gensler to task for the collapse of FTX and the resulting fallout. “Th...
Bitcoin will survive failure of ‘any giant’ in crypto, Samson Mow says
The collapse of FTX has triggered a notable drop in the price of Bitcoin (BTC), but that in no case means that BTC can be destroyed by failing cryptocurrency firms, according to Bitcoin proponent Sams...
Grayscale: Problems after FTX bankruptcy?
It is scary to compare it to the FTX bankruptcy, but Grayscale Bitcoin Trust (GBTC), has recently lost 43% of its value. It is currently consistently trading at a steep discount to the spot Bitcoin pr...
DeFi protocol AAVE faces bad debt and centralized points of failure
AAVE has a bad debt problem. A global community of people use the AAVE protocol to take out and service crypto loans, provide liquidity, stake, earn interest, and/or vote on governance proposals. But ...
Cardano’s Hoskinson calls for stronger governance as FTX failure proves humans are ‘bad at being honest’
Input Output (IO) CEO Charles Hoskinson argued that cryptocurrency needs strong governance to avoid repeating what happened at the defunct FTX exchange. Delivering the keynote speech at IO ScotFest, H...
Tether Or Binance’s Failure Could Mark The End Of Cryptocurrency – Dogecoin Founder
To allay the concerns of global investors Dogecoin’s founder, Shibetoshi Nakamoto believes that the collapse of either the cryptocurrency exchange Binance or the stablecoin issuer Tether might drastic...
Is Alameda’s failure a risk to Tether?
After Alameda’s big downfall related to the FTX exchange, many questions and doubts have been raised about the soundness of Tether’s issuance of the USDT stablecoin. In particular, there has been exte...
From Temasek to Genesis, here’s the direct impact of FTX failure on other corporates.
Over the first two weeks of November, crypto exchange FTX went from leading crypto exchange to a $16 billion bankruptcy – this year’s largest so far. Insiders, customers, the press, and re...
Unseen Drama Behind Crypto’s Biggest Failure
FTX Documentary News Updates: While the crypto market struggles to recover from the shock collapse of crypto exchange FTX, there is an interesting development going on in the Bahamas. A new documentar...
“A Complete Failure Of Corporate Control,” Says New FTX CEO As He Unearths Even More Dirt Leading To The Collapse ⋆ ZyCrypto
Advertisement     FTX’s new CEO expresses shock over how the company was run as he opens a can of worms. He referred to the mismanagement of the company as “unpreceden...
New CEO Says FTX Is the Worst Case of Corporate Failure With Untrustworthy Financial Data and Unacceptable Practices – Featured Bitcoin News
The new CEO of FTX, appointed after the crypto exchange filed for bankruptcy, has blasted the company under former CEO Sam Bankman-Fried. “Never in my career have I seen such a complete failure of cor...
Binance Announces Plans to Acquire Another Crypto Failure
Binance will reportedly put forward a new bid for Voyager Digital, following the cancellation of the winning bid made by FTX. Binance.US, the American division of the world’s largest cryptocurrency ex...
Congress’s Failure to Pass Regulation Caused FTX’s Debacle, Asserts Crypto-Friendly Senator ⋆ ZyCrypto
Advertisement     US Senator Pat Toomey has blamed FTX’s collapse on the lack of clear regulations. Speaking during the Financial Regulators Hearing on November 15, th...
A complete failure, worse than Enron
FTX chief exec, John J. Ray III, has filed his first declaration in the bankruptcy of FTX, FTX US, Alameda Research, and related entities. Ray, who had served as Chairman of Enron during its bankruptc...
FTX bankruptcy filings highlight ‘complete failure of corporate controls’
Fresh FTX bankruptcy filings called out Sam Bankman-Fried and the rest of the failed crypto exchange’s leadership for a “complete failure of corporate controls” and cited the former ...
Citi Analyst Warns of ‘Serious’ Contagion Risk to Crypto Ecosystem From FTX Failure – Featured Bitcoin News
A Citi analyst has warned of a serious risk of broader contagion to the crypto ecosystem stemming from the collapse of crypto exchange FTX, noting that the contagion “can last for a significant amount...
Serial crypto failure Mark Cuban says he’s in it for the apps
Outspoken Shark Tank entrepreneur Mark Cuban says that smart contracts and apps are the reason he invested so much of his money into crypto and that what’s required is a ‘ubiquitous’ app that’s needed...
Best’s Commentary: Corporate Governance Lessons for Insurers in the Wake of the Failure of FTX
SINGAPORE–(BUSINESS WIRE)–The collapse of the cryptocurrency exchange FTX highlights the importance of effective corporate governance, according to a new AM Best commentary. The Best’s Commentary, “Co...