The Latest Breaking News from FTX

The crypto exchange FTX, once valued at $26 billion, was operating without a real board. Its downfall could lead to renewed pressure for private companies to have independent directors.

Out of nowhere, 30-year-old Sam Bankman-Fried became a billionaire mover and shaker in the world of cryptocurrency. Careful to make friends of powerful Democrats and media columnists alike, he threw money around the halls of Congress — and everywhere else he went — while threatening to disrupt Chicago’s financial futures…

Crypto exchange FTX was valued at more than $30 billion just weeks ago. Now it's in bankruptcy proceedings

Here's your TL;DR for today's news.

The man appointed to administer the collapsed crypto exchange in chapter 11 bankruptcy, who oversaw the clean-up after Enron's collapse, says he has never seen "such a complete failure of corporate controls".

“I think, what it boils down to from all the information we have [and] this bankruptcy report that has now been released is that FTX and SBF are complete frauds—not just frauds, but thieves,” David Ripley, incoming CEO at Kraken, tells Fortune.

Miami Heat are looking for a new naming partner for their stadium following the collapse of FTX, the third-largest cryptocurrency exchange in the world - and a strip club has joined the race

LOS ANGELES — This should be a banner week for Shohei Ohtani, baseball's truly global superstar.

Usually in bankruptcies, it's at least clear who the 50 largest creditors are, or where the money was coming from. Not this time.

If FTX customers retain control of their digital assets, then those funds need to be returned—not put through bankruptcy.

Seven-time Super Bowl champion Tom Brady is being sued for his role in promoting cryptocurrency exchange FTX, which had to seek bankruptcy protection last Friday