Effective Altruism: Former FTX CEO’s Alleged $40M Penthouse Listed for Sale, Report Says Firm Spent $74M on Real Estate
In light of a recently published real estate listing, former FTX CEO Sam Bankman-Fried (SBF) is reportedly selling a 12,000-square-foot penthouse in the Bahamas for $39.9 million. Moreover, reports further detail that FTX Property Holdings spent…
Biggest Movers: CRO Rebounds as CEO Kris Marszalek Admits ‘Trust Was Damaged’
On Nov. 14, cronos rebounded, as Crypto.com CEO Kris Marszalek held an “Ask me Anything” (AMA) session, while speculation grew on the company’s level of solvency. The concerns came after it was revealed that a transfer of $400 million…
Crypto Trading Platforms Deal With Massive Withdrawal Requests — Over $5 Billion in BTC, ETH Removed From Exchanges
During the last week, the crypto community has been dealing with the demise of FTX and its affiliated crypto businesses, and ever since then, the proof-of-reserves topic has found its way to the forefront of conversations. Another silver lining to…
Binance Forming Crypto Industry Recovery Fund to ‘Reduce Further Cascading Negative Effects of FTX’
Cryptocurrency exchange Binance is forming an industry recovery fund to “reduce further cascading negative effects of FTX,” said CEO Changpeng Zhao (CZ). “As an industry, we need to increase transparency,” the executive…
Bitcoin, Ethereum Technical Analysis: BTC Rebounds Following Bullish Comments From Elon Musk
Bitcoin started the week trading below $17,000, as volatility in the cryptocurrency space continued to intensify. Following last week’s collapse of FTX, account withdrawals have increased, with several customers opting to remove their tokens…
St. Kitts and Nevis to Explore Possibility of Making Bitcoin Cash Legal Tender by March 2023
St. Kitts and Nevis will explore the possibility of making bitcoin cash legal tender by March 2023. The statement was made by St. Kitts and Nevis Prime Minister Terrance Drew as part of the Bitcoin Cash 2022 Conference held in the country…
PEGA Pool to Launch in 2023 to Help You Offset Your Carbon Footprint While Crypto Mining
PEGA Pool is an eco-friendly crypto mining pool currently in private beta testing and is expected to be open to the public in the first quarter of 2023. Regarding bitcoin mining, there have always been concerns about its environmental impact…
Fiat-to-Crypto Company Ramp Raises $70 Million to Solve the Crypto Onboarding Problem
Ramp, a fiat-to-crypto company, has announced it has raised $70 million as part of its Series B funding round. The round was co-led by Mubadala Capital and Korelya Capital, with Balderton Capital and Cogito Capital participation. The company…
Ukraine’s Cyberpolice Expose Members of Crypto Fraud Scheme Making €200 Million a Year
A report shows Ukrainian Cyberpolice identified members of a group that defrauded people around the world through fake crypto investment offers. The criminal organization maintained offices and customer service centers with thousands of employees…
Manhattan District Attorney Freezes $1.3 Million in Crypto — Seeks to Return Funds to Fraud Victims
Manhattan District Attorney (DA)’s Office has frozen more than $1.3 million in cryptocurrency “during fraud investigations conducted over the past ten months.” The authority said: “We are returning that money to the victims…
Binance CEO Likens FTX Fiasco to 2008 Financial Crisis — Warns of ‘Cascading Effects’
Binance CEO Changpeng Zhao has compared the FTX collapse to the 2008 financial crisis. Warning of “cascading effects,” he stressed: “A lot of consumer confidence is shaken, and I think basically it sets us back a few years.”…
Conflicting Reports Emerge About SEC Helping Bankrupt Crypto Exchange FTX With Legal Loopholes
The U.S. Securities and Exchange Commission (SEC) reportedly met with crypto exchange FTX and former CEO Sam Bankman-Fried several times before the crypto firm filed for bankruptcy. SEC Chairman Gary Gensler was rumored to be helping FTX with legal…
Ark Invest CEO Warns Fed’s Actions Could Lead to 1929-Like Great Depression — Elon Musk Agrees
The CEO of investment management firm Ark Invest has warned that if the Federal Reserve does not pivot, the current economic setup will be similar to 1929 when the Great Depression started. Tesla CEO and Twitter chief Elon Musk agreed. The Fed…
Kraken CEO Discusses Impact of FTX Failure — Says Damage to Crypto Industry Is Huge, Will Take Years to Undo
The CEO of cryptocurrency exchange Kraken has outlined the impact of FTX’s failure on the crypto industry. After listing multiple red flags, the executive stressed: “The damage here is huge … We’re going to be working to…
Bank of Russia Sets Out to Regulate Digital Asset Taxation, Exchange, Still Opposed to Crypto
The Central Bank of Russia supports the development of digital financial assets but remains opposed to legalizing crypto payments, its top management has reiterated. The monetary authority is now working on a set of regulatory proposals that will…
Royal Bahamas Police Force Reveals FTX Is Being Investigated for ‘Criminal Misconduct’
“A team of financial investigators” are currently investigating the now-defunct crypto exchange FTX, the Royal Bahamas Police Force said in a statement shared on Sunday. The police noted that the financial investigators were searching to see…
SBF’s ‘Truly Trustless’ Protocol — Serum’s Upgrade Authority May Be Tainted, Devs Look to Fork Project
According to Solana’s founder, Anatoly Yakovenko, Serum developers are forking the platform because the “upgrade key to the current one is compromised.” Serum, created by FTX’s Sam Bankman-Fried (SBF), was touted as…
FTX Contract Deployer Unlocks 192 Million FTT, Exchange Token’s Questionable Tokenomics Highlights Red Flags
Following the collapse of FTX and the exchange filing bankruptcy on Nov. 11, the trading platform’s exchange token called ftx (FTT) has shed 91.6% in value during the last seven days. While the FTT token’s utility is based entirely on…
Crypto Exchange Kraken Freezes Accounts of FTX, Alameda Research, Their Executives
Crypto exchange Kraken has frozen a handful of accounts owned by the bankrupt FTX Group, Alameda Research, and their executives. Kraken has been in contact with law enforcement after discovering that an account on its platform was used in…
The Mysterious FTX Debacle, Tim Draper’s BTC Price Prediction, More Support for Ripple in SEC Lawsuit — Week in Review
As theories proliferate wildly about the true nature of what happened to failed crypto exchange FTX, little is yet clear to the crypto community. Former CEO of FTX Sam Bankman-Fried has addressed the issue publicly on social media, mentioning a…
The founder and CEO of an Africa-focused payments firm, Elizabeth Rossiello, claimed on Nov. 11 that the beleaguered crypto exchange FTX had incorrectly included AZ Finance in its chapter 11 bankruptcy protection filing. The CEO insisted that her…
From Mercedes F1 to Miami Heat, Sports Teams Suspend FTX Sponsorships
A string of organizations competing in various sports are pulling out of sponsorship deals with beleaguered cryptocurrency exchange FTX. The coin trading platform had pledged millions of dollars to building up brand recognition among sports fans…
Indian Authority Freezes 150 Bitcoins Held at Binance Crypto Exchange
India’s Enforcement Directorate (ED) says that it has frozen 150.22 more bitcoins held at cryptocurrency exchange Binance. The freeze is part of an investigation into mobile gaming application E-nuggets, which was designed to defraud the…
US Treasury Secretary and Indian Finance Minister Discuss Crypto Regulation
U.S. Treasury Secretary Janet Yellen and Indian Finance Minister Nirmala Sitharaman discussed crypto regulation during the ninth India-U.S. Economic and Financial Partnership meeting. They stressed the importance of international cooperation and…
Former US Treasury Secretary Larry Summers Compares FTX Collapse to Enron Fraud
Former U.S. Treasury Secretary Lawrence Summers has compared crypto exchange FTX to Enron, noting that the case is a classic fraud rather than the complexities of cryptocurrency regulation. He said the regulatory community ought to draw two lessons…
Robert Kiyosaki: I’m a Bitcoin Investor — When BTC Hits New Bottom, I Get Excited
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says he is not worried about the price of bitcoin dropping. “I am a bitcoin investor,” he said, adding that when the price of the cryptocurrency hits a new…
Elon Musk Tells Twitter Staff Economic Picture Ahead Is Dire — ‘Bankruptcy Isn’t Out of the Question’
Tesla CEO and Twitter chief Elon Musk has informed Twitter employees that the company’s “economic picture ahead is dire.” Noting that “bankruptcy isn’t out of the question,” the billionaire stressed that…
FTX CEO Confirms Reports of ‘Unauthorized Access to Certain Assets,’ Team Is ‘Coordinating With Law Enforcement’
Following the reports that said FTX wallets were being drained and the FTX Telegram channel’s admins that detailed its possible malware might be present in FTX-related apps and websites, the company’s new CEO John Ray confirmed there were…
Russia’s Digital Ruble Integrated Into Banking App
VTB has become the first Russian bank to add the digital ruble to its mobile application. The integration is currently being tested with accounts set up for legal entities. Select customers will be granted access in the coming months and will be…
Hedge Fund Galois Capital Discloses ‘Roughly Half’ of the Firm’s Capital ‘Stuck on FTX’
According to the co-founder of Galois Capital, the hedge fund manager who warned about the Terra collapse before it happened, half of the hedge fund’s capital is left trapped on FTX. Galois co-founder, Kevin Zhou, wrote a letter to investors…
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