BankmanFried

FTX FTX News Shocks Industry FTX has filed for bankruptcy in the US, as Sam Bankman-Fried steps down from his role as chief executive. SBF was once hailed as the King of Crypto, but is now rounded down on his luck, along with devastated FTX investors who have lost entire portfolios to the collapse of the exchange. SBF tweeted apologies, having failed to secure a bail out, leaving FTX scrambling to raise the billions of dollars owed to users. FTX has filed for Chapter 11 bankruptcy, meaning that it may continue…

When FTX raised $420 million from an array of big-name investors in October last year, the cryptocurrency exchange said the money would help grow the business, improve user experience and allow it to engage more with regulators.Left unmentioned was that nearly three-quarters of the money, $300 million, went instead to FTX founder Sam Bankman-Fried, who sold some of his personal stake in the company, according to FTX financial records reviewed by The Wall Street Journal and people familiar with the transaction. Mr.…

Excerpts from summer interviews with the onetime crypto mogul and his trading firm’s CEO paint a far different picture than is now being revealed in bankruptcy court documents. It was late August, and Sam Bankman-Fried appeared on a computer screen, sporting the black headphones, T-shirt and floppy bedhead that were his trademark as the ubiquitous face of crypto and the chief executive officer of FTX. Questions were building about the exchange's relationship with Alameda Research, the trading firm he started that's…

The founder of collapsed crypto exchange FTX, Sam Bankman-Fried, said he regretted his decision to file for bankruptcy and, in an interview published by Vox, criticized regulators. The founder of collapsed crypto exchange FTX, Sam Bankman-Fried, said he regretted his decision to file for bankruptcy and, in an interview published by Vox, criticized regulators.Bankman-Fried said later on Twitter that the basis of the interview, an exchange of messages on the same platform, was not supposed to be public. The collapsed…

Confronted by a crypto crisis he helped spark, former FTX.com Chief Executive Officer Sam Bankman-Fried is tweeting through it. Confronted by a crypto crisis he helped spark, former FTX.com Chief Executive Officer Sam Bankman-Fried is tweeting through it.On Wednesday, he added a further 18 tweets to a meandering thread he started at the beginning of the week. The posts, published at sporadic intervals, have combined apologies for his failings with his perspective on what went wrong at the companies he founded and ran.…

Right now, we have far more questions than answers about what went down with FTX, the cryptocurrency exchange that collapsed last week. Will account holders get their money back? Will Sam Bankman-Fried, also known as SBF, face criminal charges? What will happen to everyone who accepted his donations? Is it finally the beginning of the end for crypto? And then there’s the question right in front of us: How did this happen, and how do we make sure it doesn’t happen again? Answering that question is complicated since many…

FTX disabled users from withdrawing their funds last week before finally declaring bankruptcy. U.S. officials are investigating founder Sam Bankman-Fried over potentially illicit transfers he made between FTX and his other firm Alameda.Photo: Leon Neal (Getty Images)Sam Bankman-Fried, who was once considered the real ”wunderkind” of the crypto world, is desperately trying to defend his public image despite federal law enforcement investigations and U.S. lawmakers closing in.Bloomberg reported Tuesday that the U.S. and the…

Major crypto player Genesis Global Capital suspended customer redemptions in its lending business, citing the sudden failure of crypto exchange FTX, while court papers showed FTX founder Sam Bankman-Fried faces legal action. FTX filed for bankruptcy protection in the United States on Friday in the highest-profile crypto blowup to date, after traders pulled $6 billion from the platform in three days and rival exchange Binance abandoned a rescue deal. After a flurry of tweets and interviews by Bankman-Fried, FTX said he…

Tweets by former FTX CEO Sam Bankman-Fried are raising various speculations on Twitter SEC after Sam Bankman-Fried? In less than a week, the cryptocurrency billionaire Sam Bankman-Fried went from industry leader to industry villain, lost most of his fortune, saw his $32 billion company plunge into bankruptcy, and became the target of investigations by the Securities and Exchange Commission and the Justice Department. The latest tweet at the time of writing, posted by Bankman-Fried at 5:30 am UTC on Nov. 15, is…

Last night, Sam Bankman-Fried DMed me on Twitter. That was surprising. I’d spoken to Bankman-Fried via Zoom earlier in the summer when I was working on a profile of him, so I reached out to him via DM on November 13, after news broke that his cryptocurrency exchange had collapsed, with billions in customer deposits apparently gone. I didn’t expect him to respond — typically, people under investigation by both the Securities and Exchange Commission and the Department of Justice don’t return requests for comment.…