Sam Bankman-Fried

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…

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…

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…

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…

Big tech billionaire Sam Bankman-Fried, the CEO of FTX, recently went big head mode at the 2022 Forbes iconoclast Summit, but only a few weeks later he announced his main crypto exchange is being absorbed by Binance.Photo: Arturo Holmes (Getty Images)The crypto winter has swallowed one of the world’s leading crypto suppliers. FTX, which up until now was ranked the third largest exchange by trading volume, announced Tuesday they were being acquired by rival exchange Binance, the absolute largest exchange in the biz.Binance…

Cryptocurrency exchange FTX, months after looking like a shining survivor in a struggling industry, succumbed Tuesday to a sudden liquidity crunch of its own and agreed to be taken over by rival Binance.The deal signals a power shift in the crypto world, which has been hurt by rising interest rates and investors’ retreat from risk. The pact marks a victory for Binance founder Changpeng Zhao and a humbling comedown for Sam Bankman-Fried, the founder of FTX, which had been growing in size and recognition before a clash…

FTX Founder Sam Bankman-Fried. Photo: Craig Barritt (Getty Images)Texas regulators are investigating crypto exchange FTX and its spend-thrift founder Sam Bankman-Fried to determine whether or not they are offering unregistered securities products. The investigation, first reported by Barrons, is reportedly being carried out by the Texas State Securities Board which revealed the probe in a filing related to the bankruptcy case of crypto broker Voyager Digital.“I am aware that FTX Trading…may be offering unregistered…

Bankrupt crypto lender Voyager Digital said crypto exchange FTX has won an auction for its assets, in a bid valued at about $1.42 billion. FTX's bid comprises of a fair market value of all Voyager cryptocurrency, at a to-be-determined date, which is estimated to be $1.31 billion at current market prices and an additional consideration estimated as providing about $111 million of incremental value, Voyager said in a statement. The company added that its claims against hedge fund Three Arrows Capital will remain with the…

Traders work on the floor of the New York Stock Exchange (NYSE) on May 5, 2015 in New York City.Photo: Spencer Platt (Getty Images)There’s no getting around it, June was a disastrous month for cryptocurrency.Though cryptocurrency prices have trended down for the better part of 2022,investors truly had the rug pulled out from under them in the past two months. With bitcoin prices in particular plummeting to values not seen since 2020, exchanges and lenders were forced to do something few expected. One after another, firms…