Sam Bankman-Fried regrets bankruptcy filing, blames “messy accounting”: Vox interview
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.
Markets: Bitcoin, Ether fall as FTX implosion, job cuts in tech industry cloud outlook
Bitcoin and Ether prices fell in Thursday morning trading in Asia along with all other top 10 tokens by market capitalization, excluding stablecoins.
Crypto exchanges see record-high week of BTC outflows, following FTX saga
Bitcoin outflows from centralized crypto exchanges rose to a historic high this week, as investors turned to self-custody options following the collapse of FTX.
Binance gets Abu Dhabi regulator’s nod to offer crypto custody services
Binance, world’s largest cryptocurrency exchange, has obtained Financial Services Permission from Abu Dhabi’s Financial Services Regulatory Authority (FSRA), to provide custody to professional clients in and from the Abu Dhabi Global Market (ADGM), the international financial center of the UAE’s capital.
FTX collapse leaves investors jittery over crypto contagion
Top blockchain and crypto news: FTX fallout spooks sector. Crypto.com’s $400 million ‘accident.’ Hong Kong’s new digital asset drive.
Korbit is first South Korean exchange to disclose full crypto reserves, post-FTX debacle
Korbit, one of South Korea’s five fully licensed crypto exchanges, announced Wednesday that it will reveal its full list of crypto reserves.
USDC stablecoin issuer Circle expects slower growth over Binance’s BUSD conversion
Circle, the issuer of U.S. dollar-pegged stablecoin USDC, has said that stronger competition in the stablecoin market is likely to pressure Circle stablecoins, thereby slowing its growth and weighing on the financial outlook of the company.
Who is exposed to FTX? A running compilation on a rapidly moving target
The number of creditors with claims on the collapsed FTX cryptocurrency exchange and its affiliates may run into the hundreds of thousands and possibly more than 1 million.
Terra cofounder Daniel Shin’s Chai Corp. raided by S.Korean authorities
Daniel Shin’s Chai Corporation, which partnered with Terraform Labs in 2019, is accused of violating capital market rules in past dealings with Terra.
Crypto lender BlockFi faces possible failure amid FTX collapse, WSJ says
BlockFi Inc. is preparing for possible bankruptcy filings after it acknowledged “significant exposure” to bankrupt cryptocurrency exchange FTX.com.
Trezor, Ledger report surge in hard wallet sales amid FTX meltdown
What to do when one of the world’s most trusted crypto exchanges implodes? For many it’s finding a safer place for their assets, and that is typically hardware wallets.
Markets: Bitcoin, Ether rise amid positive inflation data, despite reports of Russian missile strikes in Poland
Bitcoin and Ether rose on Wednesday morning in Asia amid reports of alleged Russian missile strikes on Poland while inflationary data out of the U.S. provided support.
FTX hacker becomes 35th largest Ethereum holder
The address associated with the FTX hack swapped US$48.2 million worth of DAI stablecoins to 37,570 Ether and became the 35th largest holder of the world’s second-largest crypto.
Enron veteran is FTX’s new head: Does he have what it takes to win back user’s funds?
The failure of cryptocurrency exchange FTX has been compared to the Lehman Brothers collapse in 2008, but it may have more similarity to the bankruptcy of energy trading giant Enron Corp. – an event FTX’s new chief executive officer knows all too well.
Coinbase officially enters the fray in XRP lawsuit to support Ripple against SEC
U.S.-based cryptocurrency exchange Coinbase has officially submitted its amicus brief to support Ripple in the lawsuit the U.S. SEC filed in 2020 against Ripple.
Retail crypto sees more new users when Bitcoin prices rise: BIS report
A rise in Bitcoin prices is the most important factor for a significant increase in the number of new investors, instead of distrust in public institutions, dislike for traditional banks, or search for a store of value, according to a report by the Bank for International Settlements.
Shark Tank’s Kevin O’Leary says FTX debacle will never happen again
O’Leary remains committed to crypto even after losing his investment in FTX.com, but said that the industry will become more regulated.
Crypto prices recover amid plans by Binance, others to aid cash-short projects post FTX failure
Exchanges to the rescue? Cash is reportedly being made available to help blockchain and crypto projects caught in the fallout of the FTX exchange collapse.
Vitalik Buterin seeks to build proof-of-reserves protocol with Binance as ‘guinea pig,’ says Binance chief
Ethereum founder Vitalik Buterin is looking to develop a proof-of-reserves protocol and Binance may be the “guinea pig” and serve as its first test case, said Binance chief Changpeng Zhao.
Crypto.com claims user funds safe despite ‘accidental’ Ether transaction
The chief executive of Crypto.com, said the exchange’s exposure to FTX when it shut was under US$10 million.
Mining rig maker Canaan’s stocks fall as Q3 profits shrink
Cryptocurrency mining rig maker Canaan posted shrinking revenues and profits in the third quarter of this year, as the crypto bear market continued to plague the mining industry.
Binance says it will set up crypto recovery fund, industry standards group
Changpeng Zhao, founder and chief executive of Binance, tells the B20 Summit in Indonesia that the world’s largest cryptocurrency exchange aims to help improve business and operation standards in the crypto industry.
Former Huobi CEO Leon Li offers US$14 mln loan to cover funds locked in FTX
Huobi Global’s ex-CEO Leon Li has extended a US$14 million loan to New Huo Technology after a subsidiary had US$18 million of cryptocurrency locked in the bankrupt FTX exchange.
S.Korea summons ex-Terra exec Daniel Shin over US$100M in LUNA gains
Daniel Shin has been summoned by South Korean prosecutors to attend an investigation as a suspect for allegedly earning ill-gotten profits with LUNA.
Crypto prices slide as investors pull funds on concerns other exchanges may follow FTX implosion
The collapse of one of the world’s biggest crypto exchanges last week has investors worried about the finances of other trading platforms. Cold wallet time?
FTX files for bankruptcy, Sam Bankman-Fried steps down as CEO
FTX.com, FTX US and 130 additional affiliates have filed for bankruptcy, its new CEO John J. Ray III says.
Binance chief says FTX bailout deal ‘didn’t make sense’
Changpeng Zhao, founder of the world’s largest crypto exchange, said its earlier pledge to acquire FTX fell through partially due to regulatory concerns.
Could FTX woes bring on another crypto freeze resembling Terra-Luna?
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.
FTX Japan resumes withdrawals, FTX Turkey firms up plans
FTX Japan, the Japanese arm of the embattled crypto exchange FTX.com, said on Friday it has resumed yen withdrawals after the country’s Financial Services Agency (FSA) ordered the exchange on Thursday to suspend operations and put together a “business improvement plan.”
Shark Tank’s Kevin O’Leary says ‘FTX still has value,’ its story still being written
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.
FTX liquidity crunch leads to contagion fears; Friday updates and running commentary
The following is a running compilation of views and comments on the possible short- and long-term outcomes of FTX’s liquidity crunch.
FTX US warns user trading could be halted ‘in a few days’
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.
U.S. regulators reportedly talking with Binance over failed FTX bail out
US regulators want to know more about what Binance discovered when it took a look at FTX’s books, and then canceled a bailout deal.
Sam Bankman-Fried apologizes in first tweet since Binance saga: I F***** Up
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.
Bitcoin gains 5% as U.S. inflation slows down in October
Bitcoin gained 5% after the U.S. Bureau of Labor Statistics reported that the consumer price index (CPI), a key inflation indicator, rose 0.4% in October from September. CPI was up 7.7% from a year earlier, less than the expected 7.9%, and down from 8.2% in September. October’s CPI recorded the smallest 12-month increase since January.
Crypto exchange outflows rise amid FTX fiasco
Over 5.2 billion stablecoins left crypto exchanges on Wednesday, the most in five months, on-chain data showed.
FTX debacle has crypto industry pointing finger at regulators in call for clear rules of the road
The FTX.com unraveling has prompted crypto industry leaders to demand clearer rules of the road for trading digital assets.
Binance the winner in FTX saga, set to gain more customers
Binance may have nixed the deal to bailout rival exchange FTX.com, but it could still gain a big chunk of FTX’s business as investors flee the platform.
US regulators DoJ, SEC, CFTC probe crypto platform FTX
US regulators the Department of Justice, the Securities and Exchange Commission and the Commodity Futures Trading Commission are probing beleaguered crypto exchange FTX.
What a difference a day makes: Options for FTX after Binance ditches buyout?
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.
Bitcoin hits lowest price in two years as Binance cancels FTX acquisition
Just over 24 hours after news of Binance’s planned acquisition of FTX shook the crypto market, a reversal of that decision sent prices even lower.
Binance likely to back out of FTX deal: report
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.
The fall of FTX “not good for anyone,” CZ says
The sudden downfall of top cryptocurrency exchange FTX will bring in more regulatory scrutiny and raise the difficulty of obtaining licenses around the world, Binance founder and chief executive Changpeng Zhao said in an internal note, which he shared with the public via Twitter on Wednesday.
Singapore’s Temasek holds stake in FTX, a target of Binance takeover
Singapore’s state-owned investment firm Temasek is a shareholder in embattled cryptocurrency exchange FTX, which faces a possible takeover by bigger rival Binance
Binance’s Changpeng Zhao emerges as ‘winner on all fronts’ of FTX acquisition
Commonly known as “CZ,” the Chinese-Canadian founder of Binance appears to have stolen Sam Bankman-Fried’s shine, coming out of the FTX acquisition with the most to gain.
Binance boosts emergency insurance fund to US$1 billion on market volatility
Binance, the world’s largest cryptocurrency exchange, has raised its emergency insurance fund “SAFU” to US$1 billion equivalent in cryptocurrencies, founder Changpeng Zhao said in a Tweet on Wednesday.
Crypto exchanges see more withdrawals over fears of FTX liquidity
Large volumes of stablecoins moved out of exchanges, including KuCoin, OKX, Kraken, Huobi and Binance over the past week.
What could Binance gain from FTX’s wider investments?
FTX has invested in many projects through its FTX Ventures arm, contributing to two of the 10 biggest blockchain and crypto funding rounds in the industry. Here are the top five investments FTX has been involved in.
Binance set to swallow FTX as run on exchange allows CZ to swoop
Top blockchain and crypto news: FTX concedes defeat in long battle with Binance. Crypto eyes Congress races. Hong Kong U-turns on digital assets.
‘Pharma bro’ Martin Shkreli to Do Kwon: jail isn’t that bad
“Pharma bro” Martin Shkreli has tried to reassure Terra chief Do Kwon that life in jail is “not the worst”, while they discussed the Binance-FTX deal on the UpOnlyTV podcast.
Binance’s pending acquisition of FTX may attract attention of antitrust regulators
Binance chief executive officer Changpeng Zhao already runs the world’s largest cryptocurrency exchange so just what are his ambitions?
Binance becomes white knight for fallen FTX: How did we get here?
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 says it has minimal exposure to FTX, downplays risk
Coinbase said new users have registered on the exchange, while the crypto exchange claimed it has limited exposure to the underwater crypto exchange FTX.
Binance buys FTX: Updates on what it means for the crypto industry
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.
Markets: Bitcoin hits year low, Ether slumps as Binance rescue of FTX unnerves investors
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 agrees to acquire FTX following liquidity crunch
Binance, the world’s largest cryptocurrency exchange, has agreed to acquire rival exchange FTX, Sam Bankman-Fried announced on Tuesday.
U.S. midterms: gridlock… and progress on crypto industry regulation?
In a period of toxic divide between the Democrats and Republicans, the need to figure out how to regulate the growing cryptocurrency industry is one of the few issues both parties seem to agree on.
Alameda says ‘wasn’t us’ amid speculation about BitDAO’s 20% plunge
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.
Seizure, guilty plea in US$3.36 bln stolen Silk Road Bitcoin case
The U.S. Department of Justice revealed on Monday that in 2021 it seized US$3.36 billion worth of stolen Bitcoin from Georgia real estate developer James Zhong.
Markets: Bitcoin, Ether prices fall with most of crypto top 10, Polygon flips Solana
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.
Stablecoin, CBDC issues take center stage at Singapore’s Future of Finance Forum
Central bank digital currencies draw fire over inflation, privacy and threat to innovation, as questions raised over status of stablecoins in digital asset ecosystem.
Markets: Bitcoin, Ether fall; Dogecoin interest fades
Bitcoin and Ether dropped in afternoon trading in Asia along with almost every other top 10 cryptocurrency by market capitalization, excluding stablecoins. MATIC was the only coin to gain.
Hong Kong needs engineering talent to reclaim role as digital asset hub
Hong Kong’s latest FinTech policies indicate it wants to reclaim its position as a hub for cryptocurrencies and digital assets, but that means finding the right people for the job.
Indian crypto exchange WazirX introduces profit, loss function
WazirX, India’s largest cryptocurrency exchange by trade volume, has introduced a profit and loss function for users to analyze and calculate their investments.
South Korea’s online KakaoBank to open accounts for Coinone exchange users this month
KakaoBank, one of South Korea’s online-only banks with nearly 20 million users, said it will start providing accounts for users of Coinone exchange in November.
Markets: Bitcoin, Ether prices pull back after weekend gain on sign U.S. inflation may be easing
Bitcoin and Ether fell in Monday morning trading in Asia as the crypto market gave up some gains made on the weekend on the back of U.S. job numbers on Friday.
Blockchain without cryptocurrencies: How might China’s BSN change Web3?
By excising cryptocurrencies from the ecosystem, crypto-hostile China could steal a march in enterprise blockchain, says Red Date Technology chief Yifan He.
India forms new crypto advocacy body with Coinbase, Polygon
Cryptocurrency exchanges and Web 3.0 companies, including Coinbase and Polygon, have formed the Bharat Web3 Association in India to strengthen regulation and consumer protection for the industry.
Dashcam maker Hivemapper issues crypto HONEY for road image contribution
San Francisco-based dashcam maker and decentralized mapping service provider Hivemapper issued cryptocurrency tokens HONEY to reward dashcam users for contributing driving data and road imagery on Friday Hong Kong time, according to a press release shared with Forkast.
Goldman Sachs launches crypto explainer, trend tool for institutional clients
After dabbling in cryptocurrency product offerings, Goldman Sachs is now offering a service to clients to help analyze tokens and market trends.
Crypto fugitive Do Kwon said to be hiding in Europe, mocks ‘cops from world over’ in series of tweets
The South Korean founder of the collapsed Terra stablecoin faces multiple allegations of wrongdoing, the latest being price manipulation.
Bitcoin, Ether prices rise, Polygon leads top 10 in gains, Doge, Shib retreat
Bitcoin and Ether rose in Friday morning trading in Asia. Polygon’s Matic led gains in the top 10 tokens after Instagram said it would use Polygon to integrate NFTs into its platform.