BlockFi logo displayed on a phone screen and representation of cryptocurrencies are seen in this illustration photo taken in Krakow, Poland on November 14, 2022. Jakub Porzycki | Nurphoto | Getty Images Distressed crypto firm BlockFi has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of New Jersey … Read more
Sam Bankman-Fried, co-founder and CEO of FTX, in Hong Kong, China, on Tuesday, May 11, 2021. Lam Yık | Bloomberg | Getty Images FTX’s ex-CEO Sam Bankman-Fried blamed his “irrational decisions” on “sh—y” circumstances in a letter obtained by CNBC that was sent to employees of the bankrupt crypto exchange. Bankman-Fried said he “froze up … Read more
These machines, known as mining rigs, work round the clock to find new units of cryptocurrency. Benjamin Hall | CNBC New York Gov. Kathy Hochul signed a law Tuesday banning certain bitcoin mining operations that run on carbon-based power sources. For the next two years, unless a proof-of-work mining company uses 100% renewable energy, it … Read more
The hacker has begun dumping some of their ether holding into other assets, according to public blockchain records of the account suspected to be linked to the person. This could be one reason ether is down more sharply than bitcoin.”It obviously adds a direct selling pressure on ethereum and it affected bitcoin and other tokens,” … Read more
FTX’s new CEO said on Saturday that the bankrupt crypto exchange is looking to sell or restructure its global empire, even as Bahamian regulators and FTX squabble in court filings and press releases about whether the bankruptcy filing should proceed in New York or in Delaware. “Based on our review over the past week, we … Read more
Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, on June 5, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images Sam Bankman-Fried, co-founder of bankrupt crypto firm FTX, spent almost a year trying to convince regulators to let him introduce a derivatives product that would allow retail investors … Read more
Coinbase Founder and CEO Brian Armstrong attend Consensus 2019 at the Hilton Midtown on May 15, 2019 in New York City. Steven Ferdman | Getty Images FTX — until recently one of the biggest crypto exchanges in the world — declared bankruptcy Friday after revelations about its business practices led to a surge of customer … Read more
London CNN Business — The stunning downfall of the FTX exchange, one of the biggest and most reputable players in the market for digital assets, is sparking alarm among people who own cryptocurrencies as investors run for cover. There are still many unanswered questions. But two big ones loom: How far will the damage spread? … Read more
Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, on Wednesday, Aug 17, 2022. Jeena Moon | Bloomberg | Getty Images Sam Bankman-Fried’s cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy in the US, according … Read more
FTX’s Sam Bankman-Fried tweeted Thursday morning that he is “sorry,” admitting that he “f—ed up” and “should have done better.” Bankman-Fried also announced that he is winding down Alameda Research, the trading firm he co-founded alongside FTX. The post comes as the one-time hero of the crypto sector is begging for billions of dollars to … Read more