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The Latest Breaking News on Crypto

FTX saga shows not all ends justify means

In the wake of the collapse of the cryptocurrency exchange FTX, and amid reports that FTX's founder, Sam Bankman-Fried, diverted billions of dollars of clients' funds, some observers have linked the alleged financial malpractice to ideas widely held within the "effective altruism" movement, which Mr Bankman-Fried says inspired him. More…

Bangkok Post

Beto O’Rourke’s campaign returned surprise $1m donation from controversial crypto billionaire Sam Bankman-Fried

Embattled FTX founder was top donor to Democrats in 2022 midterms

The Independent UK

Sam Bankman-Fried: Crypto’s Wolf of Wall Street

City Voices: Crypto still has a great future despite recent scandals

Evening Standard

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read the most diverse news in one place.

Beto O’Rourke returned $1 million check from FTX’s Sam Bankman-Fried

O’Rourke’s campaign said they gave the money back before the company’s scandals became widely public, because they were taken aback by such a large unsolicited donation.

The Texas Tribune

Digital exchange Bitfront closes for business as crypto winter bites

The California based company stopped new customer sign ups at 5am today

Evening Standard

Texas Is Becoming a Bitcoin-Mining Capital. Can the Grid Handle It?

Despite the FTX crash, ERCOT continues to court the cryptocurrency industry.

Texas Observer

Mark Cuban says he’d ‘be afraid of going to jail for a long time’ if he were Sam Bankman-Fried

The billionaire Dallas Mavericks owner still believes in crypto’s potential, but FTX founder Sam Bankman-Fried’s future could be bleak.

Fortune

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Sam Bankman-Fried’s fall hasn’t killed off ‘effective altruism’

Brief letters: FTX collapse | Replica of William the Conqueror’s ship | A seat for the privileged | Giant otters | Matt Hancock’s ‘junglewashing’

The Guardian - UK

‘Foot massage to a criminal’: Elon Musk leads attacks on WSJ for Sam Bankman Fried article

Bankman Fried’s FTX is now reportedly under investigation by authorities in the US and the Bahamas after up to $2bn in client funds vanished

The Independent UK

After the FTX crash, here’s what you need to know – the crypto bubble is already bursting

Ordinary buyers should beware. They are being sucked into perilously risky trading that only professionals understand, says crypto consultant Carol Alexander

The Guardian - UK

Crypto executives need to grow up or go the way of FTX, Riot Blockchain leader says

The highly publicized collapse of the crypto platform FTX is a wake-up call for crypto executives to act more professionally, one of crypto’s most prominent North Texas leaders says.

Tribune News Service

Legal delays over Foster's Bitcoin charges

Peter Foster's legal fight over an alleged multi-million-dollar Bitcoin scam will continue into 2023 after his case was adjourned.

AAP

Starling Bank bans Bitcoin transactions as part of crypto clampdown

Starling has described cryptocurrencies as ‘high risk and heavily used for criminal purposes’

Evening Standard

FTX was run as ‘personal fiefdom’ of Sam Bankman-Fried, court hears

Hearing in Delaware bankruptcy court is the first since the cryptocurrency exchange declared bankruptcy earlier this month

The Guardian - US

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Los Angeles Times

Michael Hiltzik: How Sam Bankman-Fried exploited the 'effective altruism' fad to get rich and con the world

The most uplifting aspect of the Sam Bankman-Fried story was always that he guided his way to a putative cryptocurrency fortune of more than $16 billion by following a philosophy of charitable giving known as "effective altruism."

Evening Standard

FTX founder Sam Bankman-Fried and his parents built million-pound property empire in the Bahamas

Together, the family, the company and its executives bought nineteen properties over two years

The Guardian - UK

Crypto exchange FTX owes nearly $3.1bn to 50 biggest creditors

Company says cryptocurrency allegedly stolen in collapse being transferred to other exchanges

Salon

Sam Bankman-Fried and "longtermism"

I'm not surprised that longtermism led to fraud, corruption and disaster. I'm mostly surprised it wasn't worse

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news in one place.

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The Guardian - UK

‘The money is gone’: people who lost out in FTX’s collapse

Smaller investors tell how they found themselves unable to withdraw money as rumours of the exchange’s troubles spread

Axios

Sam Bankman-Fried's farcical fundraising effort

The former FTX CEO has lost the plot.

Fortune

A crypto security CEO did business with Sam Bankman-Fried and sent a team to the Bahamas. He was shocked by the lack of interest in security controls and FTX’s grand ideas: ‘Maybe we’ll buy Goldman Sachs’

“If I said [my company] was thinking of buying Goldman Sachs, people would laugh,” notes Gauthier. “But somehow, when SBF said he might buy Goldman, the financial world thought it was possible.”

Sports Illustrated

Brady, Curry, Shaq Among Athletes Facing Lawsuit in FTX Debacle

The cryptocurrency exchange platform filed for bankruptcy last week.

Axios

For embattled FTX founder Sam Bankman-Fried, incompetence could be a legal strategy

If federal authorities want to pursue criminal charges, they'll have to prove intent, experts say.

The Guardian - UK

Why were so many smart people so dumb about FTX? Did they seriously just like Sam Bankman-Fried’s ‘vibe’?

The collapse of the cryptocurrency exchange will cost investors billions. But why would anyone give money to a man who plays video games in important meetings?

Los Angeles Times

Michael Hiltzik: Crypto tycoon Sam Bankman-Fried didn't lose a $16 billion fortune. His 'fortune' was never real

The Greek tragedy unfolding in the financial press over the last week is the story of Sam Bankman-Fried, the would-be cryptocurrency tycoon and political kingmaker whose multibillion-dollar empire has sunk like the Titanic after its encounter with the iceberg.

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