Sam Bankman-Fried says he ‘didn’t ever try to commit fraud’

Sam Bankman-Fried says he 'didn't ever try to commit fraud'

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

Ukraine nuclear plant shelled, UN warns: ‘You’re playing with fire!’

Ukraine nuclear plant shelled, UN warns: 'You're playing with fire!'

IAEA says Ukraine plant rocked by 12 blasts Plant is controlled by Russian forces Moscow and Kyiv accuse other of shelling ‘You’re playing with fire!’ – IAEA chief LONDON, Nov 20 (Reuters) – Ukraine’s Zaporizhzhia nuclear power plant, which is under Russian control, was rocked by shelling on Sunday, drawing condemnation from the UN nuclear … Read more

ECB begins great cash mop-up as banks repay 296 bln euros of loans

ECB begins great cash mop-up as banks repay 296 bln euros of loans

Repayment much lower than expected Key money-market rate falls after announcement Move seen as first step towards bond unwind FRANKFURT, Nov 18 (Reuters) – Euro zone banks are set to repay nearly 300 billion euros ($310 billion) in loans to the European Central Bank next week, the ECB said on Friday, the biggest cash withdrawal … Read more

Exclusive: How FTX bought its way to become the ‘most regulated’ crypto exchange

Exclusive: How FTX bought its way to become the 'most regulated' crypto exchange

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

US senator questions Ticketmaster after complaints about Taylor Swift sales

US senator questions Ticketmaster after complaints about Taylor Swift sales

LOS ANGELES/WASHINGTON, Nov 17 (Reuters) – Ticketmaster faced questions on Thursday from a Democratic US senator over its sales practices, two days after Taylor Swift fans complained about website outages and long waits to buy tickets to her upcoming US tour. In a letter to Ticketmaster parent Live Nation Entertainment Inc (LYV.N)Senator Amy Klobuchar, chair … Read more

EXCLUSIVE At least $1 billion of client funds missing at failed crypto firm FTX – sources

EXCLUSIVE At least $1 billion of client funds missing at failed crypto firm FTX – sources

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

Musk warns of Twitter bankruptcy as more senior executives quit

Musk warns of Twitter bankruptcy as more senior executives quit

Nov 10 (Reuters) – Twitter Inc’s new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a US privacy regulator and the exit of the company’s trust and safety leader. The billionaire on his first mass call with employees said … Read more

FTX’s Bankman-Fried scrambles for funds after Binance deal collapse

FTX's Bankman-Fried scrambles for funds after Binance deal collapse

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

Exclusive: Behind FTX’s fall, battling billionaires and a failed bid to save crypto

Exclusive: Behind FTX's fall, battling billionaires and a failed bid to save crypto

Nov 10 (Reuters) – (This story contains language some readers may find offensive in paragraph 2) On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message. “I’m sorry,” he told them. “I fucked up.” The reason for the mea culpa: His announcement half an hour earlier that … Read more

Cryptocurrencies fall after FTX-Binance turmoil spooks investors

Cryptocurrencies fall after FTX-Binance turmoil spooks investors

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