Cryptocurrencies have been on the doldrums since the ‘Crypto Carnage’ of Spring 2021. Over the weekend, a Bahama-based crypto exchange FTX Exchange collapsed. It will probably not be the last one. Due to the massive financial speculation, induced by the credit (QE) programs of central banks, the crypto market grew into a hub of speculation….
30,000 Australian Crypto Investors Impacted by FTX’s Collapse
Thousands of Australian crypto investors have found themselves in a precarious situation and now face the risk of losing their entire investments following the collapse of the popular crypto exchange FTX. According to the Australian Financial Review, close to 30,000 Australian investors are now looking to recover part of their losses after the crypto trading…
More Than a Million Creditors Could Be Affected by FTX Fallout
November 15, 2022
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The collapse of the FTX crypto exchange, which was valued at $32 billion at its peak, could end up affecting far more creditors than earlier estimated, according to a recent filing by the company. In its Chapter 11 bankruptcy filing last week, FTX indicated that it had more than 100,000 creditors with claims in the…
Fraud, Romance, and Regulatory Neglect: The FTX Scandal Deepens
U.S. politicians are calling for stricter regulations on the crypto industry as a result of the FTX bankruptcy and potential fraud. “It shows the weaknesses of this entire sector,” Secretary of the Treasury Janet Yellen told Bloomberg on Nov. 12, emphasizing the need for “very careful regulation.” “The notion you could use the deposits of…
Relationship Among FTX, Ukraine, and Democrats Sparks Speculation
News Analysis Is there a questionable relationship among Sam Bankman-Fried’s bankrupt FTX, Ukraine, and the Democrats? In the aftermath of the collapse of the cryptocurrency exchange, new questions are being raised surrounding these connections, from crypto partnerships to the billionaire’s contributions to Democrats. But is there something behind the curtain, or was it a group…
FTX Collapse Sparks Contagion Fears as Crypto.com Withdrawals Jump
November 14, 2022
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The collapse of the crypto exchange FTX has triggered fears of a potential contagion spreading in the market, with withdrawals at another exchange, Crypto.com, jumping after it admitted to making a transaction mistake. FTX, one of the largest crypto exchanges, filed for bankruptcy last week following a report by CoinDesk which revealed that the balance…
FTX, the Democrats’ Money Laundering Operation
Commentary Crypto crashes and crypto-exchange schemes come and go. I had assumed that the Mt. Gox disaster of 2014 would be the last, teaching investors to keep their own custody and watch the exchanges (the on and off ramps to the ecosystem) very carefully. Keep your funds in your possession, the old guard has been…
Falling Meteorite FTX Scorches Crypto Landscape
November 14, 2022
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After several months of calm in the crypto industry, characterized by a role reversal in which equities were highly volatile and cryptocurrencies flat and boring, a familiar if tragic drama reminiscent of Icarus is now playing out. This week saw the dramatic failure of FTX, one of the world’s largest cryptocurrency exchanges, and the ignoble…
Binance Bans, Then Restarts FTT Deposits, as Congressman Calls for Crypto Regulation
November 14, 2022
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Cryptocurrency exchange Binance is once more allowing deposits to be made in FTT tokens that are issued by rival exchange FTX, hours after prohibiting the activity. In a tweet on Nov. 13, Binance said that it had noticed “suspicious movement” of a large amount of FTT by the token’s contract deployers due to which it paused FTT…
Dollar Edges Up as Fed’s Waller Cautions on Inflation
SINGAPORE/LONDON—The U.S. dollar steadied on Monday amid fading expectations of a less aggressive Federal Reserve interest rate hike after Governor Christopher Waller said the central bank was not softening its fight against inflation. A modest miss on U.S. inflation on Thursday put pressure on the dollar, which declined almost 4 percent in a week, marking…
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