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

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

How Sam Bankman-Fried’s FTX-Alameda empire vanished overnight

How Sam Bankman-Fried’s FTX-Alameda empire vanished overnight

Samuel Bankman-Fried’s poster in downtown San Francisco. MacKenzie Sigalos | CNBC The Kimchi Swap put Sam Bankman-Fried on the map. The year was 2017, and the ex-Jane Street Capital quant trader noticed something funny when he looked at the page on CoinMarketCap.com listing the price of bitcoin on exchanges around the world. Today, that price … Read more

FTX says could have over 1 million creditors in new bankruptcy filing

FTX says could have over 1 million creditors in new bankruptcy filing

FTX logo with crypto coins with 100 Dollar bill are displayed for illustration. FTX has filed for bankruptcy in the US, seeking court protection as it looks for a way to return money to users. Jonathan Raa | Nurphoto | Getty Images Beleaguered cryptocurrency exchange FTX may have more than 1 million creditors, according to … Read more

Sam Bankman-Fried reportedly denies fleeing to Argentina, says he’s still in the Bahamas

Sam Bankman-Fried reportedly denies fleeing to Argentina, says he’s still in the Bahamas

Sam Bankman-Fried, CEO and Founder of FTX, walks near the U.S. Capitol, in Washington, D.C., September 15, 2022. Graeme Sloan | Sipa via AP Images Sam Bankman-Fried told Reuters he is still in the Bahamas, as rumors swirled overnight that the disgraced ex-CEO of the now-bankrupt crypto exchange FTX had run off to South America. … Read more

Sam Bankman-Fried steps down as FTX CEO as his crypto exchange files for bankruptcy

Sam Bankman-Fried steps down as FTX CEO as his crypto exchange files for bankruptcy

Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, on Wednesday, Aug 17, 2022. Jeenah Moon | Bloomberg | Getty Images Sam Bankman-Fried’s cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy in the U.S., according … Read more

Investors lost more than $2 trillion since

Investors lost more than  trillion since

An attendee wears a “Will Work for NFTs” shirt during the CoinDesk 2022 Consensus Festival in Austin, Texas, US, on Thursday, June 9, 2022. The festival showcases all sides of the blockchain, crypto, NFT, and Web 3 ecosystems, and their wide-reaching effect on commerce, culture, and communities. Jordan Vonderhaar | Bloomberg | Getty Images A … Read more

In bankrupt Lebanon, locals mine bitcoin and buy groceries with tether

In bankrupt Lebanon, locals mine bitcoin and buy groceries with tether

Aerial view of the seafront Manara district near downtown Beirut. Bilwander | Getty Images When Georgio Abou Gebrael first heard about bitcoin in 2016, it sounded like a scam. But by 2019, as Lebanon plunged into a financial crisis following decades of expensive wars and bad spending decisions, a decentralized and borderless digital currency operating … Read more

Goldman Sachs unveils crypto classification system, aimed at institutional investors

Goldman Sachs unveils crypto classification system, aimed at institutional investors

A Goldman Sachs Group Inc. logo hangs on the floor of the New York Stock Exchange in New York, U.S., on Wednesday, May 19, 2010. Daniel Acker | Bloomberg | Getty Images Goldman Sachs is making a bid to standardize the way the financial industry talks about, tracks and invests in the burgeoning universe of … Read more

What Rishi Sunak as PM means for the UK crypto industry

What Rishi Sunak as PM means for the UK crypto industry

U.K. Prime Minister Rishi Sunak at 10 Downing Street. Dan Kitwood | Getty Images U.K. cryptocurrency firms and investors have high hopes that new prime minister Rishi Sunak could turn around Britain’s fading crypto aspirations. The new U.K. leader, who was finance minister in former PM Boris Johnson’s government, faces a daunting to-do list, which … Read more