Appearing at times contrite, at times evasive, former FTX CEO Sam Bankman-Fried told viewers at a New York Times DealBook Summit that he was “deeply sorry about what happened,” referring to the collapse into bankruptcy of his crypto currency exchange and hedge fund in early November, but that he was unaware of any intentional misuses…
Former FTX CEO Says He’s ‘Deeply Sorry,’ but Is Unaware of Any Intention to Defraud Investors
The FTX Collapse: A ‘Perfect Crisis’ With Many Unanswered Questions
November 30, 2022
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Commentary As the impact of the FTX collapse continues to unfold, there are several aspects of the event that reach well beyond the cryptocurrency world. And as more information comes out, the more important the situation appears. A Few Facts and Curious Coincidences First of all, the massive financial scandal has left investors with billions…
Bankman-Fried Discusses Democrat Donations, Relationship With Ukraine, and More
FTX founder Sam Bankman-Fried granted a rare interview with independent crypto journalist Tiffany Fong. In the conversation, the elusive founder addressed a number of controversies that have surrounded him over the past few weeks, including commingling client funds, relations with Ukraine, donations to the Democratic party, and more. “I’m not a journalist by profession,” Fong…
Crypto Exchange Bitfront Shuts Down
Bitfront, a U.S. crypto exchange backed by Japanese social media firm Line Corp., said it has suspended new sign-ups and credit card payments and will cease operations in a few months despite efforts to overcome challenges in the rapidly evolving industry. “However, despite our efforts … we have regretfully determined that we need to shut…
BlockFi Tells Bankruptcy Court It Is ‘The Antithesis of FTX’
BlockFi, the first direct casualty of crypto exchange FTX’s collapse, told a U.S. bankruptcy judge on Tuesday that the U.S. cryptocurrency lender was “the antithesis of FTX” and that it would seek to return customer funds as quickly as possible. BlockFi filed for Chapter 11 protection on Monday, citing FTX’s collapse and volatility in the…
Bankman-Fried’s Money Tied to Major Media Outlets, Bringing ‘Journalistic Integrity’ Into Question
FTX founder Sam Bankman-Fried gave millions to various media outlets throughout 2022 via his family-run nonprofit, “Building a Stronger Future.” The major companies who received funding include Vox, ProPublica, Semafor, and The Intercept. In some cases, donations appear to be crucial to the viability of the recipients. In a leaked letter to staff members, Roger Hodge,…
Australian Crypto Ownership Drops Following Market Fluctuations in 2022: Research
New research shows fewer Australians are embracing cryptocurrencies (crypto) following the plunges in their value in 2022. However, the sharp fluctuations in prices have not deterred a proportion of the population from getting in deeper into crypto. According to a new report by the digital currency exchange Independent Reserve, the Independent Reserve Cryptocurrency Index (IRCI),…
Bahamas AG Says FTX ‘Debacle’ Not Their Fault
November 28, 2022
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Bahamas Attorney General Ryan Pinder took to the podium Sunday night to defend his country’s securities regulators against “inaccurate allegations” by the U.S.-based legal team, led by veteran work-out attorney John Ray III, that has taken over management of FTX in bankruptcy, following the cryptocurrency exchange’s abrupt collapse in early November. “It is possible that…
BlockFi Files for Chapter 11 Bankruptcy Protection as FTX Contagion Spread
BlockFi, one of the largest cryptocurrency lenders in the industry, filed for Chapter 11 bankruptcy protection, according to a new filing on Nov. 28. The company acknowledged that it had “significant exposure” to FTX and ex-CEO Sam Bankman-Fried’s subsidiaries. This, BlockFi says, included “obligations owed to us by Alameda, assets held at FTX.com, and undrawn…
BlockFi Files for Chapter 11 Bankruptcy Protection as FTX Contagion Spreads
BlockFi, one of the largest cryptocurrency lenders in the industry, filed for Chapter 11 bankruptcy protection, according to a statement on Nov. 28. The company acknowledged that it had “significant exposure” to FTX and founder and former CEO Sam Bankman-Fried’s subsidiaries. This, BlockFi says, included “obligations owed to us by Alameda, assets held at FTX.com, and undrawn…
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