FTX

Learn to read the fine print at the back of financial reports. That’s where you can find the inconsistencies. Only when the tide goes out do you discover who's been swimming naked, as Warren Buffett famously said. After more than a decade or near-zero interest rates and the mother of all stock-market parties, the tide of free money is most definitely receding. The bankruptcy of Sam Bankman-Fried's FTX empire is a foretaste of what may be to come. While the crypto world dances to an arcane beat that may be only…

A day after Sam Bankman-Fried’s digital-asset empire filed for Chapter 11 protection, the former crypto mogul was interviewed by Bahamian police . A day after Sam Bankman-Fried's digital-asset empire filed for Chapter 11 protection, the former crypto mogul was interviewed by Bahamian police and regulators, according to a person familiar with the matter. Analysts say about $662 million in tokens mysteriously flowed out of both FTX's international and US exchanges. FTX had begun moving some of its assets to offline…

Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday. Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday.The embattled company's new CEO John Ray III said Saturday that FTX is switching off the ability to trade or withdraw funds and taking steps to secure customers' assets,…

IANS San Francisco, November 13 Indian-origin Nishad Singh, is being scrutinised for financial practices that caused the collapse of FTX, one of the world’s largest cryptocurrency exchanges. He lived with the FTX founder along with 9 others. Singh was in the inner circle of FTX’s 30-year-old founder, Sam Bankman-Fried. “Gary Wang (Chief Technology Officer), Nishad and Sam control the code, the exchange’s matching engine, and funds,” said a person familiar with the matter.…

The last year has been spectacular. Unfortunately, not the kind of spectacular one would typically like to see. Terra Luna collapsed. UST, Luna’s algorithmic stablecoin collapsed. Alameda and FTX go insolvent and FTT’s value plummets. USDT depegs… Is this the end for crypto? Is Tether really in danger? In crypto, no one knows, but it is unlikely. The key difference between USDT and UST was that the latter was not backed by collateral. The value of UST relied on the value of LUNA, which in hindsight was a…

FTX token has continued to crash this week, and the news that the platform filed for bankruptcy has even worsened the situation over this weekend. As of this writing, FTX had crashed 92% in the past 7 days, making it the biggest loser in the market last week. The future of the FTX Token ($FTT) looks brick, and the chances of the coins recovering back to $25, the price of the coin before the crash started, is almost zero. Therefore, we are looking at another Terra situation as things stand right now. It’s an unfortunate…

Institutional investors were souring on cryptocurrencies even before this week. Institutional investors were souring on cryptocurrencies even before this week. The sudden downfall of Sam Bankman-Fried's FTX.com may have permanently damaged their prospects of being included in mainstream portfolios.While plenty of industry die-hards remain, many professional money managers are saying the case for crypto as a portfolio diversifier or digital gold has been debunked. The losses are too great and the market structure is…

Since the evolution from traditional to digital currency has started, investors have been jumping in to make the most of this opportunity. Even though cryptocurrency is relatively new to some people and can be a little daunting at times, there is no doubt that it is the next big thing. You, as an investor, must be wondering about the right crypto platforms to invest in. worry not; this article will cover three different trending crypto platforms that are likely to provide you with higher returns. Snowfall…

Bankrupt cryptocurrency exchange FTX is probing a potential hack and asked customers to stay off the FTX website, the company said. More than $370 million worth of crypto funds appears to be missing, according to crypto analytics firm Elliptic Enterprises Ltd.A rival crypto exchange said Saturday it knew the identity of the alleged hacker and would help authorities in their investigation. The potential hack occurred Friday after FTX filed for bankruptcy. Ryne Miller, FTX US’s general counsel, said in a Saturday tweet that…

Photo: OLIVIER DOULIERY / AFP (Getty Images)Hundreds of millions of dollars in funds were mysteriously siphoned out of the collapsing crypto exchange FTX on Friday, in what exchange officials have referred to as a potential “hacking” incident.Already a company in a spectacular state of financial and reputational free fall, the once well-respected and heavily promoted cryptocurrency exchange said Friday that it was looking into a barrage of “abnormal” asset transfers sweeping through accounts. Subsequent analysis seemed to…