FTX

The executive tapped to lead FTX through the biggest cryptocurrency bankruptcy in history has helped recover billions of dollars for creditors of Enron Corp., Nortel Networks and other major companies that have collapsed over the last two decades. John J. Ray III was appointed chief executive of FTX just before the crypto exchange plunged into chapter 11 bankruptcy and founder Sam Bankman-Fried resigned. Mr. Ray is now tasked with investigating FTX’s sudden collapse and unwinding an enterprise with more than 130…

Ethereum (ETH) and Cardano (ADA) are among the top buy recommendations during the FTX crash. Investors look for stability more than anything in this unpredictable trading environment and leaning near safe haven cryptocurrencies is the best choice to make right now. The Hideaways (HDWY) tops the charts, with its ties to real estate, the most stable industry in any macroeconomic condition, giving the project a clear advantage. At a time when the crypto market appears unstable, many top investors have pointed towards The…

Elon Musk fires a Twitter engineer for questioning his decisions! Read more tech news below Good morning tech fam, here are some quick tech updates for you to catch on to! What’s New Today: Amazon plans to roughly cut down almost 10,000 white-collar employees from various departments, and from offices across the world. Fast-Track Insights: Binance CEO advises crypto enthusiasts, especially beginners to stay away from the market currently as digital assets face intense volatility and unpredictability after FTX’s fall.…

Crypto.com said it recovered almost $400 million in cryptoasset Ether from Asian exchange Gate.io, after it accidentally transferred the funds to the wrong account. Crypto.com said it recovered almost $400 million in cryptoasset Ether from Asian exchange Gate.io, after it accidentally transferred the funds to the wrong account.The company was supposed to move 320,000 in Ether to a new cold storage address -- a type of offline wallet -- but the funds were sent instead “to a whitelisted external exchange address,”…

Crypto hedge fund Galois Capital confirmed that it had up to $45 mn in exposure to the now collapsed FTX cryptocurrency exchange. Crypto hedge fund Galois Capital, known as an early critic of the now failed Terra blockchain and its TerraUSD algorithmic stablecoin, confirmed that it had up to $45 million in exposure to the now collapsed FTX cryptocurrency exchange.The firm told Bloomberg News in a Twitter direct message that its exposure was in the range of $40 million to $45 million, after it said on Twitter on Friday…

Zhao said the fund is intended to prop up investor confidence following the dramatic collapse of Sam Bankman-Fried’s FTX crypto exchange. Cryptocurrency prices rallied Monday after Binance Holdings Ltd.'s Chief Executive Officer Changpeng Zhao announced plans to launch a crypto recovery fund to help industry players facing a liquidity crunch. Bitcoin edged towards $17,000 following Zhao's announcement. Zhao said the fund is intended to prop up investor confidence following the dramatic collapse of Sam Bankman-Fried's…

Binance CEO Chengpeng Zhao has been trying his best to make his own crypto firm appear more legitimate than failed rival FTX. Photo: PATRICIA DE MELO MOREIRA/AFP (Getty Images)The FTX debacle, where one of the world’s most popular and lauded crypto exchanges proved to be a massive smokescreen for an immeasurably mismanaged company, has every crypto company exec putting on their Sunday best to try and appear as legitimate as possible. Now crypto execs are scrambling over each other to prove that indeed, they are the most…

Photo: Leon Neal (Getty Images)The cryptocurrency exchange FTX has collapsed and filed for bankruptcy, deflating the entire crypto market with it.The New Black Panther Debuts at Disney Parks Avengers CampusIn brief, here’s what’s happened. Chanpeng Zhao, CEO of the world’s largest crypto exchange Binance, once owned a 20% stake in FTX. He and FTX’s CEO, supposed crypto wunderkind Sam Bankman-Fried, maintained a friendly rivalry. Bankman-Fried, known to the technorati as SBF (Zhao is “CZ”), bought out Zhao’s stake using…

As news circulated over the weekend that Berkeley author Michael Lewis had spent the past six month embedded with former FTX CEO Sam Bankman-Fried to reportedly write a book about the rise and fall of the cryptocurrency wunderkind, the financial markets continued to reel from the stunning collapse of his exchange. Analysts also pondered whether Steph Curry, Tom Brady and his ex-wife Gisele Bundchen and FTX’s other high-profile backers will “lose big” from the company’s bankruptcy filing,” MarketWatch reported. The…

The collapse of crypto exchange FTX has dealt a blow to the crypto industry’s hopes of pushing favorable legislation through Congress in the near term and ratcheted up pressure on the Securities and Exchange Commission and other regulators to crack down. On Thursday, the Senate Agriculture Committee scrapped a tentative plan to mark up its bipartisan crypto bill this week, according to people familiar with the matter. The bill, crafted with input from FTX, had gained wide support from the crypto industry. Meanwhile, the…