Search results: SBF

Sam Bankman-Fried, the founder of the now-bankrupt FTX exchange, has missed the deadline set by the U.S. Senate Committee to confirm his appearance at an upcoming hearing.

Federal prosecutors are reportedly investigating Sam Bankman-Fried for possible market manipulation that led to the Terra-LUNA crash in May

The embattled founder of failed cryptocurrency exchange FTX may be subpoenaed if he declines to testify at the two hearings on the platform’s meltdown in Washington DC next week.

Top blockchain and crypto news: AAX teeters on the brink. SBF hints at Congressional hearing no-show. Chinese court boosts NFT legitimacy.

Sam Bankman-Fried, founder and former chief executive officer of the bankrupt cryptocurrency exchange FTX, has hired white-collar crime specialist Mark Cohen to represent him, said a Bankman-Fried spokesman.

The push to regulate DeFi is stronger than ever, and the sector would be wise not to fight but participate in that inevitability, writes Michael Shing of XREX.

Sam Bankman-Fried, founder and former chief executive officer of failed cryptocurrency exchange FTX, tweeted on Monday morning Hong Kong time that he may not testify before the U.S. Congress on Dec. 13.

Sam Bankman-Fried, founder of failed cryptocurrency exchange FTX, said he did not know of any improper use of customer funds at his company, in an interview with ABC News. 

Employee accounts of life at Sam Bankman-Fried’s flagship cryptocurrency trading arm Alameda Research paint a picture of overworked and inexperienced millennials running a ship headed for the rocks: one seemingly escaped.

The former CEO of the collapsed crypto exchange “needs to keep his mouth shut” and stop making public comments that could be used against him in future court cases, lawyers tell Forkast.

The chief executive officer of Binance, Changpeng Zhao, regrets sending ‘too late’ a tweet that contributed to the collapse of FTX.com.

U.S. Senators Elizabeth Warren and Sheldon Whitehouse called for holding former FTX CEO “and any complicit FTX executives” to the fullest extent of the law.

Bitcoin recovered above US$16,000 in Wednesday morning trading as it rose along with Ether and the rest of the crypto top 10 by market capitalization, excluding stablecoins.

Proof-of-stake blockchain platform Cardano and blockchain payment platform Coti will launch an algorithmic stablecoin Djed in January 2023

Sam Bankman-Fried, the founder of the FTX, says he regrets the company’s bankruptcy filing, blamed the downfall on “messy accounting” and criticized regulators.

Temasek says its belief in Sam Bankman-Fried may have been ‘misplaced.’

The former CEO of FTX may face questioning by authorities in the U.S. as scrutiny over the role he played in the exchange’s sudden collapse and bankruptcy intensifies.

The following is a running compilation of views and comments on the FTX bankruptcy and implications for the industry.

The following is a running compilation of views and comments on the FTX bankruptcy and implications for the industry.

FTX.com, FTX US and 130 additional affiliates have filed for bankruptcy, its new CEO John J. Ray III says.

Crypto exchanges and lending platforms are starting to use the dreaded F word for Freeze amid worries about the possible collapse of FTX.com, part of one of the world’s biggest cryptocurrency trading networks.

SBF apologized to FTX customers and investors in a Twitter thread earlier, but can people recover their money?

While FTX’s cash crunch has rattled global markets and investors, a White Knight investor could quickly turn the tide for the company, O’Leary told Forkast in an interview.

Sam Bankman-Fried says FTX US is insulated from FTX.com’s liquidity crunch, but the American-based platform could freeze trading in the next few days.

Sam Bankman-Fried sent his first series of tweets since Binance announced and then scrapped an offer to buy his cash-strapped cryptocurrency exchange. He apologized, acknowledged mistakes and said he will do right by FTX users.

Binance cites due diligence on FTX books for pulling out of a deal to buy FTX.com, sending markets into a tailspin and leaving Bankman-Fried in need of another buyer… fast.

Binance may scrap its proposal to acquire cryptocurrency exchange FTX, after examining FTX’s “internal data and loan commitments,” according to an unnamed source “familiar with the matter” cited by CoinDesk on Wednesday. 

FTX exchange sent Alameda Research 173 million FTT tokens on Sept. 28, worth US$4.1 billion at the time.

Top blockchain and crypto news: FTX concedes defeat in long battle with Binance. Crypto eyes Congress races. Hong Kong U-turns on digital assets.

Binance steps in with deal to buy FTX.com, but with so many moving parts to consider how messy could this pending acquisition get?

Coinbase said new users have registered on the exchange, while the crypto exchange claimed it has limited exposure to the underwater crypto exchange FTX.

The following is a running compilation of views and comments on Binance’s takeover of the FTX exchange amid speculation of solvency problems at FTX.

Bitcoin fell to a year’s low of US$17,603 in Tuesday morning trading in Asia as Binance Global Inc.’s takeover of the FTX exchange unnerved investors.

Binance, the world’s largest cryptocurrency exchange, has agreed to acquire rival exchange FTX, Sam Bankman-Fried announced on Tuesday. 

Bitcoin and Ether slumped in Tuesday afternoon trade in Asia, with almost every other top 10 cryptocurrencies by market capitalization, excluding stablecoins, also losing ground. For the second consecutive day, polygon was the only coin that strengthened.

Crypto exchange FTX’s native token, FTT, fell more than 20% in afternoon trading in Asia amid speculation rival exchange Binance is selling off the FTX token.

BitDAO, or BIT, the token supported by crypto exchange Bybit, dropped more than 20% within an hour at one stage around noon on Tuesday in Asia.

Bitcoin dipped below US$21,000 in Tuesday morning trading in Asia as Ether and most other tokens in the cryptocurrency top ten by market capitalization, excluding stablecoins, lost ground.

Amid uncertainty and criticism following Elon Musk’s takeover of Twitter, nearly half a million users have flocked to Mastodon, a decentralized alternative.

Binance CEO Changpeng Zhao said Binance will liquidate its remaining FTT tokens issued by the second-largest crypto exchange FTX amid questions over Alameda Research.

Huobi Global, one of the world’s largest cryptocurrency exchanges, plans to move its headquarters to the Caribbean, its new advisory board member Justin Sun said.

Bitcoin dropped nearly 3% in afternoon trading in Asia. All other top 10 cryptocurrencies by market capitalization, excluding stablecoins, declined following a strong two-day rally by most tokens.

Crypto exchange Huobi Global will delist its stablecoin HUSD on Friday, refund holders 1:1 with USDT.

Top blockchain and crypto news: Aptos launch falls short. Why FTX chief is calling for crypto regulations. Is Hong Kong paving way for a retail CBDC?

Cryptocurrency exchange FTX will reimburse US$6 million lost by users in a phishing attack over the weekend, according to founder Sam Bankman-Fried.

Sam Bankman-Fried, CEO of crypto exchange FTX, denied on Tuesday that he has a plan to buy out another crypto exchange, Huobi, after a rumor circulating on Chinese social media said that FTX has acquired the exchange. See related article: FTX CEO: This is the canary in China’s crypto ban coal mine Fast facts “No, […]

The Federal Deposit Insurance Corporation (FDIC), one of the two federal agencies insuring savings in American depository institutions, has sent cease-and-desist letters to five companies, including FTX.US, for making false statements about deposit insurance. See related article: FDIC clarifies that cryptocurrencies are not insured Fast facts In a press release, the FDIC said it has […]

Top blockchain and crypto news: Eqonex shutters exchange operation. Huobi denies sale report. Taiwan beefs up cyber defenses.

Top blockchain and crypto news: SBF’s Voyager rescue deal spurned. Tesla pulls U-turn with BTC sale. Tencent cuts local NFT staff as it looks abroad.

After bankrupt crypto broker Voyager Digital rejected a proposal to buy out its assets and loans — except the loan to insolvent crypto hedge fund Three Arrows Capital — FTX CEO Sam Bankman-Fried (SBF) took to Twitter to lash out.  See related article: FTX proposes buying out Voyager assets and loans except for 3AC to […]

Crypto exchange FTX launched a joint offer with West Realm Shires, which runs FTX.US, and Alameda Ventures, on Friday, which would allow bankrupt crypto lender Voyager Digital customers to get their hands on their bankruptcy claims in advance.  See related article: ​​Voyager crypto refund plan unconfirmed; fiat to be returned in full Fast facts Regarding […]

SBF’s Alameda Research debt to Voyager emerges. Meanwhile, South Korea agrees to cooperate with the US on Terra-Luna investigation.

Three Arrows Capital files for bankruptcy in the US. Meanwhile, SBF and FTX agrees deal with option to buy for up to US$240 million.

Asset manager Morgan Creek Digital is trying to raise US$250 million to counter crypto exchange FTX’s bailout of beleaguered crypto lender BlockFi, according to a report by CoinDesk. See related article: Sam Bankman-Fried steps in to bail out BlockFi Fast facts Morgan Creek is attempting to raise funds to purchase a majority stake in BlockFi, […]

After rescuing crypto-asset broker Voyager Digital last week, crypto exchange FTX founder Sam Bankman-Fried, often known as SBF, has now agreed to bail out crypto lender BlockFi.  See related article: BlockFi among those that foreclosed on Three Arrows Capital: report Fast facts FTX agreed to extend a US$250 million revolving credit facility to BlockFi on […]

Terra’s LUNA and UST implosion is dragging down an already ailing market. What do other developments suggest about crypto’s long-term future?

Top blockchain and cryptocurrency news: Britain’s crypto gamble. WAVES crashing. China’s big digital yuan push.

Since March 31, WAVES’ price has dipped more than 45% while the ecosystem’s native stablecoin USDN has been knocked off its dollar peg.

Singapore-based cryptocurrency exchanges Crypto.com and Bybit have announced that they will be setting up offices in Dubai, as the industry continues its migration towards the United Arab Emirates (UAE).  See related article: As Binance shrinks away in Asia, will it put down roots in the Middle East? Fast facts See related article: Ripple launches first […]

Crypto exchange FTX has secured a digital asset exchange license in Dubai under new laws adopted last week and will be setting up a local headquarters in the city.  See related article: Crypto on the beach: FTX and other players find paradise in the Caribbean Fast facts Binance has also secured a license under the […]

Fresh off a US$32 billion valuation, crypto derivatives exchange FTX Trading said Wednesday it will acquire its Japanese competitor Liquid Group and all its subsidiaries. Fast facts The deal is expected to close in March, according to a Liquid release. “Following FTX’s acquisition of Liquid, Quoine will gradually integrate FTX’s products and services into its […]

Which blockchain sector will flourish, and what’s not yet ripe for mass adoption just yet? FTX CEO Sam Bankman-Fried offers his crystal ball in a special Forkast.News video.

Bitcoin & Beyond

The largest U.S.-based cryptocurrency exchange, Coinbase, earned just US$406 million net income in Q3 this year — a 74.7% decline over the previous quarter — according to the company’s investor earnings report released yesterday. Fast facts That figure represents a 500% increase over Q3 last year, but is significantly less than the US$1.6 billion in […]

Altair upgrade goes live, also Hybe and Dunamu consider NFT venture.

Bitcoin inches toward all-time-high on the back of the first Bitcoin futures ETF in the U.S.

As non-crypto players like Twitter and PayPal take up digital assets, Coinbase, Binance and others look for ways to expand offerings.

China’s crypto crackdown and what it means

While the funds stolen in last week’s cyberattack on Liquid are yet to be returned, the Japanese exchange has secured a US$120 million loan from fellow exchange FTX to cover losses. Fast facts Sam Bankman-Fried, the billionaire CEO of Hong-Kong based FTX, took to Twitter to make the announcement, saying he had always admired Liquid’s […]

FTX.US, the U.S. affiliate of Hong Kong-based cryptocurrency exchange FTX, saw its average daily trading volumes soar 150-fold in June compared to the same month a year before, according to the company’s mid-year results. Fast facts The company reported that FTX.US had a daily volume that ranged between US$150 million and US$1 billion in the […]

FTX CEO Sam Bankman-Fried says it’s time to move on from high leverage in crypto trading. Binance also seeks new CEO with a stronger regulatory background.

Top blockchain and crypto news: Crypto markets await Bitcoin fund release. USDC issuer opts for the back door. In China, NFT copyrights and wrongs.