NEW YORK, Nov 30 (Reuters) – Sam Bankman-Fried, the founder and former CEO of now-bankrupt crypto exchange FTX, attempted to distance himself from suggestions of fraud in his first public appearance since his company’s collapse stunned investors and left creditors facing losses totaling billions of dollars. Speaking via video link at the New York Times’ … Read more
Filing follows weeks after FTX collapse FTX listed as BlockFi’s No.2 creditor Bitcoin down over 70% from 2021 peak Nov 28 (Reuters) – Major cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection along with eight affiliates, it said on Monday, the latest crypto casualty to follow the spectacular collapse of the FTX exchange … Read more
FTX bought a 10% stake in IEX with an option to acquire 100% FTX spent $2 billion on ‘acquisitions for regulatory purposes’ Documents show FTX saw its regulatory status as a way of luring new capital from major investors Nov 18 (Reuters) – Before it collapsed this month, FTX stood apart from many rivals in … Read more
NEW YORK, Nov 16 (Reuters) – Former President Donald Trump’s entry on Tuesday into the 2024 presidential race confirmed the world’s “worst kept secret” and created another variable for markets that some investors say remains a low priority for now. Trump, who has mounted relentless attacks on the integrity of US voting since his 2020 … Read more
FTX founder Bankman-Fried secretly moved $10 billion in funds to trading firm Alameda – sources Bankman-Fried showed spreadsheets to colleagues that revealed shift in funds to Alameda – sources Spreadsheets indicated between $1 billion and $2 billion in client money is unaccounted for – sources Executives set up book-keeping “back door” that thwarted red flags … Read more
HONG KONG/SINGAPORE/NEW YORK, Nov 10 (Reuters) – FTX Chief Executive Sam Bankman-Fried on Thursday launched an urgent push to raise funds to save his firm as the crypto exchange looks to plug a reported $8 billion hole in its finances, according to tweets and a memo to employees. Bankman-Fried said he was in talks with … Read more
SINGAPORE/LONDON, Nov 9 (Reuters) – Cryptocurrencies saw a second day of sharp declines on Wednesday, as investors continued to fret about the stability of the sector and the financial health of major exchange FTX despite plans for a rescue deal from bigger rival Binance . Crypto giant Binance signed a nonbinding agreement on Tuesday to … Read more
WASHINGTON/LONDON, Nov 8 (Reuters) – Crypto giant Binance signed a nonbinding agreement to buy rival FTX’s non-US unit, FTX.com, to help cover a “liquidity crunch” at the cryptocurrency exchange, the companies said on Tuesday, in a surprise move that raised fresh concerns about the risks investors face in the volatile crypto market. Binance CEO Changpeng … Read more
July 26 (Reuters) – Credit Suisse Group AG (CSGN.S) is expected to announce Ulrich Koerner as his new chief executive, the latest management churn at the Swiss bank as it struggles to recover from a series of scandals, two sources familiar with the situation said on Tuesday. Pressure had been mounting on current CEO Thomas … Read more