FTXs

Naomi Osaka, Tom Brady, Shaquille O'Neal, Larry David and others are named alongside FTX founder Sam Bankman-Fried in suit filed in Miami federal court. Celebrities "have either invested in FTX or been brand ambassadors for the company" and hyped the exchange in ads and on social media, court papers say.…

One FTX executive vomited when he learned that the crypto exchange was missing billions of dollars of customer money. A company lawyer quit via a harsh text message to then-Chief Executive Sam Bankman-Fried. A top salesman who had bet big on FTX equity saw most of his wealth evaporate overnight.What started as a dream job turned into a nightmare for employees of FTX, the crypto exchange that imploded in spectacular fashion last week. The Wall Street Journal spoke to more than a dozen current…

Sam Bankman-Fried at a charity event on June 23, 2022 in New York City (left) Kevin O’Leary speaks onstage at a conference on December 8, 2016 (right)Image: Craig Barritt / Marla Aufmuth (Getty Images)Kevin O’Leary, an investor best known from the show Shark Tank, was asked on Tuesday if he’d still invest in Sam Bankman-Fried again, even after the FTX founder admitted to funneling billions of dollars in customer funds to his own hedge fundand caused the crypto platform to file for bankruptcy last week. O’Leary thinks…

Sam Bankman-Fried, CEO and Founder of FTX, walks near the U.S. Capitol, in Washington, D.C., on September 15, 2022.Photo: Graeme Sloan/Sipa USA (AP)FTX filed for bankruptcy on Friday, leaving reasonable people to wonder how a cryptocurrency platform founded in 2019, which reached a valuation of $32 billion in 2021, could plummet to zero in such a short time. There’s a new piece in the New York Times which gained exclusive access to FTX founder Sam Bankman-Fried, but if you’re looking for answers, you’re not going to find…

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…

A swift plunge in value of FTX’s key crypto assets suggests that customers of the once popular exchange face a slim chance of recovering much of their deposits. A swift plunge in value of FTX's key crypto assets, along with unauthorized withdrawals of funds after it filed for bankruptcy, suggests that customers of the once popular exchange face a slim chance of recovering much of their deposits. A breakdown of the balance sheet of Sam Bankman-Fried's exchange shared with investors a day before its bankruptcy filing…

Michael Lewis, author of Moneyball and The Big Short (left) and Sam Bankman-Fried, founder of FTX (right)Photo: David Levenson / Tom Williams/CQ-Roll Call, Inc (Getty Images)Michael Lewis, author of Moneyball and The Big Short, has been following FTX founder Sam Bankman-Fried for the past six months to write his next book. And while the potential ending of Lewis’s book has obviously changed in the past week since FTX’s $32 billion implosion, Lewis is already shopping around the movie rights, according to a new report from…

The collapse of Sam Bankman-Fried’s crypto empire has been chaotic, fast and full of unknowns. The world should soon get some answers via a Delaware federal court. The collapse of Sam Bankman-Fried's crypto empire has been chaotic, fast and full of unknowns. The world should soon get some answers via a Delaware federal court. FTX is what's known in the industry as a “free fall” bankruptcy. More than 130 related companies sought court protection at the end of last week without filing any of the usual court motions or…

A four-day slump for crypto altcoin Solana deepened, while developers spun off one of the blockchain network’s most prominent and FTX-affiliated projects. A four-day slump for crypto altcoin Solana deepened, while developers spun off one of the blockchain network's most prominent and FTX-affiliated projects. Solana fell as much as 11% to $12.11 on Monday in Asia's morning. Crypto bellwethers Bitcoin and Ether also slumped, with Bitcoin at one point dropping below $16,000. Other altcoins, including Polkadot and…

Venture capitalists were ill-equipped to identify or fix major flaws in the financial model. Among the last people to realize that the cryptocurrency exchange FTX was a financial time bomb were the company's own investors. On Nov. 7 — as troubling signs began to emerge, customers were withdrawing money and the founder was tweeting unconvincingly that “assets are fine” — a broker of startup stock made inquiries to FTX's venture capitalists and other shareholders to see if anyone wanted to sell, according to…