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The Latest Breaking News from FTX

People charmed by FTX CEO Sam Bankman-Fried will be 'looking and feeling fairly silly,' Larry Summers warns of crypto crackdown

The former Treasury secretary said the tech sector “has over-extrapolated from past success to believe that trees grow to the sky."

Fortune

What happened to FTX and could the crisis spill over to the rest of crypto?

International exchange for crypto assets is in effect unregulated – and may have been built on sand

The Guardian - UK

Is FTX the new Lehman Brothers—or worse?

FTX is a lot like Lehman Brothers—minus the government having its back.

Fortune

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Inside Sam Bankman-Fried's call with investors

FTX's founder and CEO was apologetic, but not terribly forthcoming.

Axios

With Bitcoin, Ether And Altcoins Drowning In A Sea Of Blood, Can Investors Hope To Catch A Falling Knife?

The cryptocurrency market continued its downward trajectory on Thursday morning, reeling under the implications of a failed deal between cryptocurrency exchange Binance and its rival FTX, with prices of major digital assets, including altcoins, trading at levels not seen

Benzinga

Troubled FTX Faces SEC Probe And 'Urgently Needs' $8B To Avoid Bankruptcy, NIO Posts Wider Q3 Loss, AstraZeneca Ditches US Application Submission For COVID-19 Shot: Top Stories Thursday, Nov. 11

Bloomberg

Benzinga

Cryptocurrencies: why Binance's failed FTX rescue deal could mean 'crypto winter' is coming

Life in the cryptocurrency industry is rarely quiet for long, and after a tumultuous summer, it seems the market is now entering a “crypto winter”. Over the past week, the founders of two of the largest cryptocurrency exchanges – Binance and FTX – have had a public Twitter spat that…

The Conversation

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Sam Bankman-Fried needs $4 billion. Fast.

Bankman-Fried apologized to investors and said he would be “incredibly, unbelievably grateful” if they could help out.

Fortune

3 ways crypto venture capital may change after the FTX debacle

CoinFund’s David Pakman weighs in on lessons learned for the industry amid the Binance/FTX mess.

Fortune

Cryptocurrency exchange FTX now worthless, says key investor

Firm valued at $25bn in 2021 suffered bank run-style crisis as investors rushed to withdraw money

The Guardian - UK

Massive cryptocurrency exchange FTX on verge of collapse as takeover fails

Binance said it would not be pursuing a deal after completing due diligence.

The National (Scotland)

Investors expect crypto turmoil to get worse

Cryptocurrency markets endured heavy losses on Thursday, with bitcoin near a two-year low as investors fretted about the fallout from the implosion of FTX, the world’s second-largest crypto exchange.

Bangkok Post

Wall Street surges and dollar tumbles as US inflation rate drops to 7.7% – as it happened

Dollar slides and stocks rally in New York on hopes that the Federal Reserve will slow its interest rate rises

The Guardian - UK

Asian stocks follow Wall St down before US inflation update

Asian stock markets are lower ahead of a U.S. inflation update that will likely influence Federal Reserve plans for more interest rate hikes after elections left control of Congress uncertain

The Independent UK

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Benzinga

Robinhood, MicroStrategy And Other Big Losers From Wednesday

U.S. stocks closed lower on Wednesday, with the Dow Jones dipping more than 600 points. Here is the list of some big stocks recording losses in the previous session.

Benzinga

Bitcoin, Ethereum, Dogecoin Rout Deepens: Analyst Says 'Implosion Of FTX Means No One Is Safe'

Major coins plunged sharply on Wednesday evening amid a wider rout as the cryptocurrency market capitalization dropped 11.3% to $812.9 billion at 8:30 p.m. EST.

Axios

Sequoia Capital tells investors it did proper due diligence on FTX

This is the first official communication between the firm and its limited partners, since the FTX collapse.

Tribune News Service

Sam Bankman-Fried's FTX empire faces US probe into client funds, lending

U.S. regulators are investigating whether beleaguered crypto-exchange FTX.com mishandled customer funds, and they’re looking into the firm’s relationships with other parts of Sam Bankman-Fried’s crypto empire.

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Al Jazeera

Binance deal for FTX collapses

Binance pulled out of the deal after its corporate due diligence and reports of mishandled funds.

Los Angeles Times

Michael Hiltzik: A cryptocurrency billionaire implodes, showing that the whole field is built on quicksand

For a while there, Sam Bankman-Fried looked like the real thing.

Fortune

FTX collapse leads to questions about whether crypto exchanges are safe.

With the overnight collapse of FTX, which was viewed as the future of the crypto industry, is it safe to leave your money in crypto exchanges?

Investors Business Daily

Dow Jones Futures: CPI Inflation Report Due After S&P 500 Breaks Key Level

Futures rose ahead of the key CPI inflation report The S&P 500 fell below its 50-day line Wednesday on election results, Tesla, Bitcoin and more.

Fortune

After Binance balks, what's next for SBF and FTX?

The news comes a day after Binance said it signed a letter of intent to buy its rival.

Evening Standard

Over a million customer crypto accounts at risk as Binance abandons FTX acquisition

The US Securities and Exchange Commission is reported to be expanding its investigation into the beleaguered crypto exchange

Benzinga

Binance Drops FTX Acquisition, Cryptos Trade Deep In The Red: 'The Issues Are Beyond Our Control'

Binance walked away from a deal to acquire FTX.com Wednesday after examining the company’s financials.

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