Collapsed crypto exchange FTX has about $1.24 billion of cash in total — but still owes at least $3.1 billion

Collapsed crypto exchange FTX has about .24 billion of cash in total — but still owes at least .1 billion

In this photo illustration, a bitcoin logo seen displayed on a smartphone with a FTX logo on the background.  Avishek Das | Lightrocket | Getty Images FTX’s vast web of entities had a total of around $1.24 billion in cash balances as of Nov. 20, according to a new court filing out late Monday. The … Read more

Bitcoin (BTC) hits 2-year low as FTX collapse contagion fears linger

Bitcoin (BTC) hits 2-year low as FTX collapse contagion fears linger

The crypto market has been battered this year, with more than $2 trillion wiped off its value since its peak in Nov. 2021. Cryptocurrencies have been under pressure after the collapse of major exchange FTX. Jonathan Raa | Nurphoto | Getty Images Bitcoin on Tuesday hit a two-year low as the cryptocurrency market takes a … Read more

Why Elon Musk reinstated Trump’s Twitter account

Why Elon Musk reinstated Trump’s Twitter account

Why Elon Musk reinstated Trump’s Twitter account – CBS News Watch CBS News Kara Swisher and Scott Galloway, co-hosts of the podcast “Pivot,” discuss Elon Musk’s decision to reinstate the account of former President Donald Trump, who was suspended after the Jan. 6 attack. Be the first to know Get browser notifications for breaking news, … Read more

FTX’s ex-chief regulatory officer tied to online poker scandal

FTX’s ex-chief regulatory officer tied to online poker scandal

The top “regulatory officer” at fallen crypto exchange FTX was embroiled in a notorious online poker cheating scandal more than a decade ago — and was caught on tape allegedly aiding the perpetrators of the fraud, according to reports. Dan Friedberg — a lawyer who was FTX’s chief regulatory officer in the months leading up … Read more

4 lessons for cryptocurrency investors from the FTX collapse

4 lessons for cryptocurrency investors from the FTX collapse

Bahamas-based crypto exchange FTX filed for bankruptcy in the U.S. on Nov. 11, 2022, seeking court protection as it looks for a way to return money to users. Nurphoto | Nurphoto | Getty Images After a difficult year for digital assets, many investors were blindsided by the recent collapse of cryptocurrency exchange FTX, as customers … Read more

SBF’s in hall of ‘shame’ Crypto ‘fraud’ joins list

SBF’s in hall of ‘shame’ Crypto ‘fraud’ joins list

It may be a bit too early to lump Sam Bankman-Fried into the same bucket as the infamous fraudster Bernie Madoff — or maybe not.  The full post-mortem of his epic collapse from crypto wunderkind and billionaire to broke crypto villain extraordinaire won’t be ready for some time. Prosecutors in the US attorney for the … Read more

FTX will sell or restructure global empire, CEO says

FTX will sell or restructure global empire, CEO says

FTX’s new CEO said on Saturday that the bankrupt crypto exchange is looking to sell or restructure its global empire, even as Bahamian regulators and FTX squabble in court filings and press releases about whether the bankruptcy filing should proceed in New York or in Delaware. “Based on our review over the past week, we … Read more

FTX launches strategic review, seeks court relief to pay critical vendors

FTX launches strategic review, seeks court relief to pay critical vendors

Collapsed crypto exchange FTX said on Saturday it has launched a strategic review of its global assets and is preparing for the sale or reorganization of some businesses. FTX, along with about 101 affiliated firms, also sought court relief to allow the operation of a new global cash management system and payment to its critical vendors. The … Read more

Late Night Financial Expert Jeff Wright Shares Why He Doesn't Trust Cryptocurrency – Late Night with Seth Meyers

Late Night Financial Expert Jeff Wright Shares Why He Doesn't Trust Cryptocurrency – Late Night with Seth Meyers

Late Night Financial Expert Jeff Wright Shares Why He Doesn’t Trust Cryptocurrency  Late Night with Seth Meyers

Binance executive compares Sam Bankman-Fried to Holmes and Madoff

Binance executive compares Sam Bankman-Fried to Holmes and Madoff

Binance’s chief strategy officer said it took his company two hours of due diligence on FTX to determine that Sam Bankman-Fried’s crypto exchange was beyond saving. “It was like a bomb went off in that place,” Patrick Hillmann, Binance CSO, told CNBC on Thursday. “You know, we’re getting on calls, people are crying. … It … Read more