FTX

The turmoil in the cryptocurrency industry of the last few days underscores the risks inherent in the industry as intermediaries handle so many core functions, the head of the top US markets regulator said. Securities and Exchange Commission (SEC) Chair Gary Gensler used the events of the last few days - centered on concerns over the financial healthy of major cryptocurrency exchange FTX - to emphasize the risks of a crypto industry that has been operating outside of traditional financial markets' oversight.Read Also…

Tom Brady, the quarterback of the Miami Buccaneers, had announced a brand ambassador partnership with FTX back in 2021.Photo: Mike Ehrmann (Getty Images)The collapse and buyout of one of the world’s largest cryptocurrency exchanges FTX is set to hurt the company’s investors bigtime. Notably, one of those investors is one of American Football’s most well-known players who may be stuck on the field even longer than he wants to be. Star Wars: Shatterpoint Announcement Trailer02:27The First Things To Do In VR, Part 3Yesterday…

Bitcoin fell below $16,000 for the first time since late 2020 overnight and was last at $16,435. Binance walks away from FTX bailout, causing bitcoin to slump while FTX native token coins trade at near record lows. (Reuters Archive)…

If you find yourself listening to free advice from notorious fraudster and pharmaceutical price-gouger, Martin Shkreli, then it might be time to re-evaluate some things. And that’s exactly the scenario Do Kwon, Terra’s disgraced CEO and “not on the run” fugitive, ended up in on a Tuesday podcast stream.Star Wars: Shatterpoint Announcement Trailer02:27The First Things To Do In VR, Part 3Yesterday 9:39AMBoth the “pharma bro” and the crypto-crash king made surprise guest appearances on a live streamed episode of Up Only, a…

With Meta job cuts, Zuckerberg rocked the entire tech ecosystem! 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 has broken all records by being the first public company in the US to lose US$1 trillion in market value as the tech sell-off worsens in Q4 2022. Fast-Track Insights: The fall of FTX has caused almost US$150 billion to be wiped out from the crypto market, right after the market started returning to positive momentum. Meta…

FTX chief executive officer Sam Bankman-Fried told employees he was exploring all options for his firm after a deal with cryptocurrency exchange Binance collapsed. The proposed deal between Bankman-Fried and rival Binance Chief Executive Officer Changpeng Zhao of Binance had been the latest emergency rescue in the world of cryptocurrencies this year, as investors pulled out from riskier assets in the wake of rising interest rates. The cryptocurrency market has fallen by about two-thirds from its peak to $1.07 trillion.…

Somehow, things might be even worse than they first appeared at the crashing cryptocurrency exchange FTX. The blockchain firm, which up until very recently had been ranked as the third largest crypto platform, announced Tuesday that it was being acquired by rival exchange Binance. Star Wars: Shatterpoint Announcement Trailer02:27The First Things To Do In VR, Part 3Today 9:39AMNow, that deal is fallingapart. Cracks in the acquisition first emerged in a report from Coin Desk that cited an unnamed “person familiar with the…

Crypto exchange Binance reversed course on a rescue offer for FTX Wednesday, leaving the prominent digital firm with an uncertain future as it faces a shortfall of up to $8 billion, according to people familiar with the matter. Binance chose not to go ahead with the nonbinding offer following a review of the company’s finances, the exchange said. “In the beginning, our hope was to be able to support FTX’s customers to provide liquidity, but the issues are beyond our control or ability to help,” Binance…

In response, CZ dropped a bombshell on Twitter: Binance would sell off its entire FTT holding. He claimed the intention was to sell “in a way that minimizes market impact,” but the announcement led to a steep drop in the price of FTT (the token has lost almost 90 percent of its value) and a surge in withdrawals at FTX as customers began to panic about the safety of their crypto.Bankman-Fried initially denied rumors of insolvency on November 7, claiming that “a competitor is trying to go after us with false rumors” and…

Sam Bankman-Fried was supposed to be different than the run-of-the-mill crypto types. He was this wunderkind with a preternatural gift for math. Sam Bankman-Fried was supposed to be different than the run-of-the-mill crypto types. He was this wunderkind with a preternatural gift for math who had quickly built a crypto empire and then shrewdly expanded it during the worst of the industry's meltdown this summer. So the sudden collapse of his crown jewel -- the crypto exchange FTX.com, which now needs a bailout from…