Lawyers managing the FTX bankruptcy likened the firm to a “personal fiefdom” of former CEO Sam Bankman-Fried in Delaware court on Tuesday. In the first hearing of what’s set to be a sprawling case, la...
Tag: Sam Bankman-Fried
Heroic CEOs And The Boards That Breed Them
“Honey, I’m home!” — Bob Iger during his first stint as CEO of the Walt Disney Co. (Photo by Jason LaVeris/FilmMagic) FilmMagic Here is an edited excerpt from this week’s newsletter....
CME’s Terry Duffy says he saw trouble before FTX collapse
A major exchange executive says he detected red flags months before the historic FTX collapse. CME Group chairman and CEO Terry Duffy said he suspected corruption at the cryptocurrency exchange the da...
Is There Anyway To Calm Crypto Investors Down?
FTX is known as the “Lehman Moment” in the crypto industry. (Photo Illustration by Michael M. … [+] Santiago/Getty Images) Getty Images The blowup of the politically connected, virtu...
Coinbase, Silvergate rise in pre-market trading, GBTC lifts off fresh lows
Most major cryptocurrencies were lower on Tuesday morning, but some altcoins bucked the downward trend. Bitcoin was down 0.9% over the past 24 hours, trading at $16,003. Meanwhile, ether droppe...
With A New CEO, An Adult Has Arrived To Clean Up The FTX Mess
John J. Ray III, a veteran of Enron, Fruit of the Loom and other bankruptcies, now must pick up the shattered pieces from Sam Bankman-Fried’s chaotic reign. Ina scathing court filing on Thursday, John...
More Fallout From The FTX Saga And Tech Layoffs Continue
Europa Press via Getty Images TL;DR The fallout from the FTX saga continues as Sam Bankman-Fried’s companies all file for bankruptcy—it leaves a potential $10 billion shortfall to over one million cre...
Bitmain-Backed Crypto Mining Company Among Creditors Of Sam Bankman-Fried’s FTX
Leo Lu, founder and CEO of Bitfufu. Bitfufu Singapore-based Bitfufu, backed by Chinese mining rig giant Bitmain, has filed claims for $11.7 million against crypto exchange FTX, which has revealed it o...
Crypto Investor Protection Does Not Exist
From right, Terrence A. Duffy, CEO of the Chicago Mercantile Exchange, Sam Bankman-Fried, CEO of FTX … [+] US Derivatives, Christopher Edmonds, chief development officer of the Intercontinental ...
FTX Will Put Bitcoin Into Deep Bear Territory – Survey Says
Sam Bankman-Fried is the disgraced founder of FTX, a politically connected centralized … [+] cryptocurrency exchange that filed for bankruptcy on Nov 11. (Photo By Tom Williams/CQ-Roll Call, Inc...
Bankman-Fried cashed out $300 million during FTX fundraise last year: WSJ
FTX founder Sam Bankman-Fried quietly cashed out $300 million in personal stakes in the midst of a $420 million fundraise in October 2021, the Wall Street Journal reported. Bankman-Fried told in...
Ontario Teachers’ Pension Plan to write down $95 million FTX investment to zero
The Ontario Teachers’ Pension Plan (OTPP), one of the most important pension funds in the world, will write down all of its $95 million investment in FTX and FTX US. The OTPP had invested ...
Electric Capital Partners: ‘Yellow Flags’ Kept Us Away From SBF
Electric Capital executives told its limited partners Thursday that the crypto-focused venture capital firm is relatively unscathed from the FTX debacle — thanks to “yellow flags” Electric spotted whe...
FTX Bahamas Unit Has Officially Filed for Bankruptcy
The local Bahamas arm of crypto exchange FTX has filed for bankruptcy protection in New York, following more than a hundred affiliates which applied for their own in Delaware last week. FTX Digital Ma...
Worse Than Enron: SBF’s FTX Has ‘Complete Absence of Trustworthy Information’
The new CEO of failed crypto exchange FTX has some harsh words for his predecessor, Sam Bankman-Fried. John J Ray III, who previously oversaw restructuring efforts at historic corporate failures such ...
Ineffective Altruist: The Philosophical Movement Tainted by Bankman-Fried’s Downfall
Sam Bankman-Fried’s reckless, fraudulent behavior took down more than just his empire. He also mortified the millions of customers and businesses who trusted him and tarnished the reputation of a phil...
Crypto firms rush to allay Genesis contagion fears as stocks crater
Crypto-related stocks plunged as Genesis became the latest victim of the FTX fallout. Bitcoin was trading at $16,593, up 0.7% from $16,479 earlier in the day. Ether gained a modest 0.5% to trad...
Binance role in FTX collapse under congressional scrutiny
Binance’s role in the sudden collapse of FTX, an event that sent reverberations around crypto markets, has come under congressional scrutiny, a senior House Republican confirmed to The Block. “T...
3AC hunted by FTX, Alameda, founder claims. Sam Bankman-Fried disagrees.
Three Arrows Capital co-founder Kyle Davies said that “FTX, Alameda colluded to trade against clients” and “hunted” his company. “As their biggest client, we, 3AC, were hunted ...
SBF says he wants to ‘raise liquidity’ as puzzling tweets continue
Sam Bankman-Fried, former CEO of beleaguered crypto exchange FTX, is still tweeting. In the latest installments of a puzzling series of posts on Twitter, Bankman-Fried said that “too much levera...
FTX US had enough to repay all customers, Bankman-Fried tweets
Former FTX CEO Sam Bankank-Fried returned to his ongoing, mysterious Twitter thread with the following: a) Alameda had more assets than liabilities M2M (but not liquid!) b) Alameda had margin pos...
‘Delusion’ Rampant Among Crypto’s Institutional Investors, Warren Buffett’s Billionaire Confidant Says
Topline Famed investor Charlie Munger once again condemned cryptocurrencies following last week’s disintegration of crypto exchange FTX, becoming the latest billionaire to lash out at FTX and its foun...
Sam Bankman-Fried tried to raise fresh cash over the weekend: WSJ
Former FTX CEO Sam Bankman-Fried thinks that he can raise enough cash to make users whole and spent the past weekend with a few remaining employees seeking commitments from investors, the Wall Street ...
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 “...
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...
Crypto Mogul Leon Li’s Firm Has $18 Million Stuck On Sam Bankman-Fried’s Bankrupt Exchange
Leon Li, founder of Huobi Group and chairman of New Huo Technology. South China Morning Post via Getty Images New Huo Technology, a Hong Kong-listed digital asset services provider controlled by Chine...
How FTX’s Sam Bankman-Fried Went From Crypto Golden Boy to Villain
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Sen. Pat Toomey slams Congress’s failure to produce crypto regulation in good time
Sen. Pat Toomey criticized the the slow process of passing U.S. crypto trading regulations. Hostility and a lack of transparency by the SEC, alongside a failure to pass regulatory guardrails, ha...
Bankman-Fried’s really, really sorry ‘again’ following bankruptcy filing
Sam Bankman-Fried, the founder and former CEO of the FTX crypto exchange that filed for Chapter 11 bankruptcy protection today, said he was “really sorry, again, that we ended up here.” &#...