FTXs

The stunning collapse of crypto giant FTX has left investors of all sizes scratching their heads and pondering: “Should I keep my funds on centralized exchanges, or look elsewhere?” This reasonable question has led to a truly stunning uptick among DeFi protocols and decentralized exchanges (DEXs), data compiled by Dune analytics suggests.Some protocols offering fully decentralized options have reported a near 75% increase in users following the FTX collapse, but why?Perpetual Exchange Volume Following The FTX CollapseAs a…

File photo of Sam Bankman-Fried testifying during a House Financial Services Committee hearing on digital assets on December 8, 2021.Photo: Tom Williams/CQ Roll (AP)Sam Bankman-Fried, the founder of FTX, says he donated equally to both Democratic and Republican politicians before his cryptocurrency platform filed for bankruptcy earlier this month, wiping out billions of dollars in customer deposits. And that fact is going to come as a real shock to right-wing political operatives on Fox News who’ve tried to claim…

Top Tech News Today: Meta is Fined for US$275 Million for Violating EU Rules! BlockFi Files for Bankruptcy After FTX’s Massive Fall by IndustryTrends November 29, 2022 Meta is being fined over US$200 million for violating critical EU rules! Read more tech newsGood morning tech fam, here are some quick tech updates for you to catch on to!What’s New Today: Indian edtech platform founder, Gaurav Munjal says that the next year will be even worse for the tech industry than 2022.Fast-Track Insights: Global crypto exchange…

WASHINGTON— Sam Bankman-Fried’s multimillion-dollar Washington charm offensive revolved around a small financial regulator and a group of senators with whom the purported crypto billionaire found common cause in a bid for light-touch regulation of digital assets.For FTX, the crypto exchange Mr. Bankman-Fried founded, the goal was to steer oversight of crypto into the hands of what was perceived to be a friendlier regulator than the Securities and Exchange Commission, which has been promising…

Welcome back to Chain Reaction. Last week on the podcast, we talked about the FTX collapse, which is still ongoing. This week, we’re taking a break from our Thursday news episode for Thanksgiving, but we had plenty of stories for you on the TechCrunch website, including some from our crypto event in Miami last week. Before we get into the nitty gritty, Anita wanted to share a personal note: Hi everyone! It feels bittersweet to share that my time at TechCrunch has come to a close, and with it, my involvement with the…

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…

Photo: Alex Wong (Getty Images)Once upon a time, the cryptocurrency exchange FTX was a jewel of the web3 world. Now, in the span of a week, its reputation has transformed from shooting star to sinking ship. After admitting to mismanaging large amounts of customer money, the exchange’s founder and CEO, Sam Bankman-Fried (also known by his initials “SBF”) ignominiously stepped down, and the company filed for bankruptcy. Now, as the dust settles and the air clears, the adults in the room are trying to pick up the pieces and…

The fallout from FTX’s collapse shows few signs of easing as the crypto industry reckons with direct exposures, plunging token prices, and newfound skepticism. The fallout from FTX's collapse shows few signs of easing as the crypto industry reckons with direct exposures, plunging token prices, and newfound skepticism of even long-established participants.Less than a week after Sam Bankman-Fried's empire filed for Chapter 11 bankruptcy, digital-asset brokerage Genesis said it will halt lending redemptions after…

Cryptocurrency exchange FTX spent tens of millions of dollars over the past couple of years on slick marketing efforts, including sports-sponsorship deals and celebrity-laden TV ads featuring Tom Brady and Larry David.Then, last week, FTX filed for bankruptcy protection in the midst of a liquidity crisis, sending shock waves throughout the crypto world and putting in question an important revenue stream for advertising, sports-sponsorship and media businesses already coping with a softening ad market. On national…