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The Latest Breaking News from FTX

Dramatic collapse of the cryptocurrency exchange FTX contains lessons for investors but won't affect most people

In the fast-paced world of cryptocurrency, vast sums of money can be made or lost in the blink of an eye. In early November 2022, the second-largest cryptocurrency exchange, FTX, was valued at more than US$30 billion. By Nov. 14, FTX was in bankruptcy proceedings along with more than 100…

The Conversation

The crypto dominoes in the wake of FTX exchange collapse

It's a classic case of contagion.

Axios

“This is fraud:” Coinbase CFO says of FTX as more crypto fintechs get caught in contagion

Alesia Haas is trying to assure consumers that FTX was merely a bad actor and is not representative of the whole industry.

Fortune

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How to raise $2 billion with a sloppy Excel spreadsheet

Sam Bankman-Fried's homespun FTX fundraising documents show disorganization.

Fortune

Mercedes F1 team left in "disbelief" over FTX collapse

Mercedes says it has been left in 'disbelief' over the collapse of its Formula 1 sponsor, the crypto exchange FTX, last week.

Motorsport

FTX case has raised 'serious allegations', says Singapore minister

SINGAPORE: The collapse of crypto exchange FTX has raised "very serious allegations that amount to potential fraud", Singapore's finance minister and deputy prime minister said on Thursday.

Bangkok Post

FTX bankruptcy is bad news for the charities that crypto mogul Sam Bankman-Fried generously supported

FTX, an exchange for trading cryptocurrencies, quickly became bankrupt and defunct in November 2022. Its founder, Sam Bankman-Fried, is broke, and the 30-year-old former billionaire could be in serious legal trouble for his alleged financial improprieties. The Conversation asked Brian Mittendorf, an accounting scholar at The Ohio State University, to…

The Conversation

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FTX's disgraced founder SBF still thinks he can rebuild his bankrupt crypto empire and make customers whole

The 30-year-old who fashioned himself as an altruist claimed FTX was not in a balance sheet crisis with its very solvency at risk, merely a liquidity crisis.

Fortune

SBF’s dangerous decision-making philosophy that brought down FTX

SBF and Elon Musk's coin-flipping approach to business can work–until it doesn't. Here's why, according to cognitive scientist Gleb Tsipursky.

Fortune

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.

Axios

FTX’s former CEO claims crypto exchange is still solvent

Sam Bankman-Fried makes statement even as new boss begins formal bankruptcy process

The Guardian - UK

Aust crypto exchange suspends withdrawals

Brisbane-based crypto exchange Digital Surge has suspended withdrawals until further notice, citing fallout from the collapse of FTX.

AAP

Size, scope of FTX failure gets clearer as users fear worst

Just days after cryptocurrency’s third-largest exchange collapsed, the public is starting to get a feel of how messy FTX’s bankruptcy case could be

The Independent UK

Exclusive: Leaked documents Sam Bankman-Fried used for fundraising in 2021 and 2022 show FTX revenue soared nearly 6,600% in two years but leveled off this year

Fortune reviewed two sets of spreadsheets, one dated December 2021 and another dated June 22, 2022, that showed FTX's astounding growth before its sudden crash.

Fortune

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Fortune

Politicians spurn contributions from bankrupt crypto exchange FTX and its former CEO Sam Bankman-Fried

SBF had donated close to $40 million in the 2021–2022 cycle, according to OpenSecrets.

Fortune

Why the collapse of Sam Bankman-Fried's FTX has split A.I. researchers

The close ties between A.I. and the 'Effective Altruism' movement that Bankman-Fried belonged to, are now in the spotlight.

Fortune

Crypto's biggest player says most people shouldn't invest in crypto right now

Binance's CZ calls on the crypto community to help 'rebuild' after FTX collapse, while advising first-time investors to stay away.

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?

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Fortune

FTX has at least 1 million creditors, more than 10 times what it previously claimed

When the exchange filed for bankruptcy on Friday it only mentioned about 100,000 creditors, not the more than 1 million acknowledged on Tuesday.

Axios

Crypto businesses brace for FTX aftershock

The knock-on effects of the exchange's unwinding are starting to show.

Fortune

FTX implosion could shake Gen Z investor confidence in financial markets altogether, warns Ken Griffin

Trust in all financial markets could be rocked, says the founder of the Citadel hedge fund.

Daily Mirror

Tom Brady cuts ex-wife Gisele Bundchen and his kids from Twitter cover after public divorce

NFL superstar quarterback Tom Brady and model Gisele Bundchen completed their high-profile divorce recently - and the seven-time Super Bowl champion has removed her from his social media profile

Tribune News Service

FTX failure may strengthen case for more robust crypto regulation

WASHINGTON — The spectacular collapse of major cryptocurrency exchange FTX is prompting calls for stronger regulation in Congress, where some bipartisan proposals are being characterized as too industry friendly.

Fortune

Berkshire Hathaway's Charlie Munger dunks on crypto once again, saying it’s “good for kidnappers” and “not a real asset”

“Nobody’s gonna say I got some shit that I want to sell you. They say—it’s blockchain!”

Fortune

This FTX document can only be described as the balance sheet from hell

Everyone is talking about a bizarre financial document circulated by FTX in its final days.

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