Rep. Warren Davidson (R-Ohio) sits on the House Financial Services Committee and is the founder of the Sound Money Caucus. He wants to know what the Securities and Exchange Commission (SEC) knew about the state of the now-bankrupt cryptocurrency exchange FTX. He says the SEC was working closely with FTX and should have been well…
PREMIERING 7 PM ET: Political Donations May Be Why Crypto CEO Is Not in Custody: Rep. Warren Davidson
November 18, 2022
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Political Donations May Be Why Crypto CEO Is Not in Custody: Rep. Warren Davidson
November 18, 2022
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2022 Midterm ElectionsAndy BiggsBusiness & MarketscryptocurrencyEpochTVEuropeFresh Look AmericaFTXInvestmentKevin McCarthyLive VideosMarketsPoliticsRussia-Ukraine WarSam Bankman-FriedUSVideoWorld
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Rep. Warren Davidson (R-Ohio) sits on the House Financial Services Committee and is the founder of the Sound Money Caucus. He wants to know what the Securities and Exchange Commission (SEC) knew about the state of the now-bankrupt cryptocurrency exchange FTX. He says the SEC was working closely with FTX and should have been well…
FTX Collapse Illustrates Dark Side of Technology Revolutions
When I wrote last week about the collapse of crypto exchange FTX and the fall from grace of its founder and CEO, Sam Bankman-Fried (“Falling Meteorite FTX Scorches Crypto Landscape”), it was already apparent that this multibillion-dollar swindle would go down as one of the largest financial frauds in history. With its most recent valuation…
Ontario Teachers’ Pension Plan Writes Down FTX Investment to Zero
The Ontario Teachers’ Pension Plan says it is writing down its US$95-million investment in FTX, the cryptocurrency exchange that collapsed last week, to zero. The Ontario pension fund invested US$75 million in FTX International and its US entity FTX.US in October 2021 followed by an additional US$20 million in FTX.US in January this year. The…
Crypto Executive Compares Sam Bankman-Fried to Ponzi Conman Bernie Madoff
November 18, 2022
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Crypto exchange Binance’s chief strategy officer Patrick Hillmann has compared Sam Bankman-Fried, CEO of the bankrupt crypto exchange FTX, to the infamous Ponzi scheme mastermind Bernie Madoff. In an interview with CNBC, Hillmann said that venture capitalists were attracted to Bankman-Fried’s persona and appearance of credibility. Bankman-Fried is either like Elizabeth Holmes, founder of the…
FTX Used Corporate Funds to Buy Homes in the Bahamas, Bankruptcy Documents Show
In another example of financial impropriety, FTX was discovered to have used corporate funds to buy homes in the Bahamas and other personal items in the names of employees and company advisors, according to new court documents. In a 30-page bankruptcy declaration to the United States Bankruptcy Court for the District of Delaware (pdf),…
The Rise and Fall of FTX and Sam Bankman-Fried
The collapse of cryptocurrency exchange FTX sent shockwaves throughout global crypto markets, and the unfolding developments involving founder and CEO Sam Bankman-Fried has garnered the attention of Washington lawmakers. From a $32 billion empire to a bankrupt company, the saga persists. But it might be important to take a step back to understand what exactly…
The Rise and Fall of Sam Bankman-Fried’s Crypto Empire
November 17, 2022
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Business & MarketsChinaCompaniescryptocurrecycryptocurrencyFTXInvestmentMarketsSam Bankman-FriedTech
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The collapse of cryptocurrency exchange FTX sent shockwaves throughout global crypto markets, and the unfolding developments involving founder and CEO Sam Bankman-Fried has garnered the attention of Washington lawmakers. From a $32 billion empire to a bankrupt company, the saga persists. But it might be important to take a step back to understand what exactly…
Fed Teams Up With Major Banks to Test Digital Dollar Pilot Program
November 16, 2022
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The Federal Reserve Bank of New York announced that it would be teaming up with global financial giants to launch a 12-week digital dollar pilot program. The New York Fed’s experiment will review how banks are able to process digital dollar tokens within the central bank system and quantify their impact, with the assistance of…
Charlie Munger Blasts Crypto as ‘Partly Fraud and Partly Delusion’ After FTX Meltdown
November 16, 2022
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Charlie Munger, vice chairman of Berkshire Hathaway, has issued scathing comments on the crypto industry after one of the globally leading exchanges FTX collapsed last week. “It’s partly fraud and partly delusion,” Munger said on CNBC Tuesday. “That’s a bad combination. I don’t like either fraud or delusion. And the delusion may be more extreme than…
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