U.S. Stocks Fall Ahead of Fed Meeting
Markets U.S. Markets Investors brace for big week for tech stocks, with earnings due from Alphabet, Apple and Amazon
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S&P 500 Closes Lower as Investors Digest Earnings
Markets U.S. Markets Dow, other indexes recover from early losses as investors parse reports from Microsoft, Boeing and others
Market Recovery Hinges on Quick Inflation Drop
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How Caroline Ellison Landed at the Center of the FTX Crypto Collapse
On a video call in early November, employees at Alameda Research dialed in to learn the fate of the trading firm, which was teetering on the brink. It was up to Caroline Ellison to deliver the bad news. Alameda was at the center of Sam Bankman-Fried ‘s collapsing FTX empire. Ms. Ellison, who had just … Read more
Alameda, FTX Executives Are Said to Have Known FTX Was Using Customer Funds
Alameda Research’s chief executive and senior FTX officials knew that FTX had lent its customers’ money to Alameda to help it meet its liabilities, according to people familiar with the matter. Alameda’s troubles helped lead to the bankruptcy of FTX, the crypto exchange founded by Sam Bankman-Fried. Alameda is a trading firm also founded and … Read more
How FTX’s Sam Bankman-Fried Went From Crypto Golden Boy to Villain
In a matter of days, Sam Bankman-Fried has gone from crypto hero to villain. An outwardly genial 30-year-old commonly referred to as SBF, Mr. Bankman-Fried was until this week the industry’s leading champion. His firm’s finances were opaque, but he seemed to be an open book on Twitter and in scores of media interviews. Bill … Read more
FTX Files for Bankruptcy, CEO Sam Bankman-Fried Resigns
Beleaguered cryptocurrency platform FTX filed for bankruptcy protection Friday, and Chief Executive Sam Bankman-Fried resigned. FTX and a bevy of affiliates said they had more than 100,000 creditors and tens of billions of dollars in assets and liabilities. It is the largest crypto-related bankruptcy ever, and a demise remarkable for its swiftness as well as … Read more
FTX Customers Face a Long Road to Try to Get Their Money Back
Stephen Gibbs got spooked this week when he heard about problems brewing at FTX and he decided it was time to take his money out of the crypto exchange. Mr. Gibbs, a musician in Thailand, said he tried to withdraw his money Tuesday. But FTX that day halted both crypto and fiat withdrawals from its … Read more
First Came the Crypto Crash. Now Comes the Taxman.
The rout in cryptocurrencies worsened this week with the collapse of the offshore exchange FTX. With bitcoin recently down more than 60% in 2022, many crypto investors would surely like to forget about digital assets, at least for now. That would be a mistake. The Internal Revenue Service hasn’t lost interest in cryptocurrencies, and investors … Read more
FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall
Crypto exchange FTX lent billions of dollars worth of customer assets to fund risky bets by its affiliated trading firm, Alameda Research, setting the stage for the exchange’s implosion, a person familiar with the matter said. FTX Chief Executive Sam Bankman-Fried said in investor meetings this week that Alameda owes FTX about $10 billion, people … Read more