FTX

U.S. DOJ to Seize $465 Million of Robinhood Shares

U.S. prosecutors are in the process of seizing shares of Robinhood Markets Inc tied to Sam Bankman-Fried, who has been charged with fraud in the collapse of the FTX cryptocurrency exchange, a U.S. attorney told a judge on Wednesday. The Department of Justice did not believe the 56 million shares of Robinhood, worth about $465 […]

U.S. Lawmakers Scramble

U.S. senators on Wednesday pressed Congress to regulate cryptocurrency under existing financial rules, as lawmakers scramble to rein in the troubled industry after prosecutors filed criminal charges against FTX founder Samuel Bankman-Fried. Lawmakers are generally in agreement that crypto firms should have greater regulation, but there are divergent views on how the industry should be […]

FTX crash

The crypto winter that began earlier this year with Russia’s invasion of Ukraine has turned into a disaster with the recent FTX crash. While the ultimate fate of FTX and its creditors is not yet decided completely, it is not all doom and gloom. Telcos may have a significant chance to jump in and take […]

Ftx Fiasco

Goldman Sachs plans to spend tens of millions of dollars to buy or invest in crypto companies after the collapse of the FTX exchange hit valuations and dampened investor interest. FTX’s implosion has heightened the need for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to pick up business, Mathew McDermott, Goldman’s […]

Apple and China

U.S. stocks ended sharply lower on Monday after protests in major Chinese cities against strict COVID-19 policies sparked concerns about economic growth, while Apple Inc slid on worries about a hit to iPhone production. Shares of the Cupertino, California tech giant lost 2.6 percent and weighed heavily on the benchmark S&P 500 index as worker […]

Collapse of Ftx

The U.S. House Financial Services Committee said on Wednesday it plans to hold a hearing in December to investigate the collapse of cryptocurrency exchange FTX. The committee said it expects to hear from the companies and individuals involved, including FTX founder Sam Bankman-Fried, Alameda Research, Binance, FTX and related entities, among others. “The fall of […]

Ftx’s Bankman-Fried Begged for a Rescue

As customers withdrew billions of dollars from crypto exchange FTX one frantic Sunday this month, founder Sam Bankman-Fried worked the phones in a futile bid to raise $7 billion in emergency funds. Hunkered in his Bahamas apartment, Bankman-Fried toiled through the night, calling some of the world’s biggest investors, including Sequoia Capital, Apollo Global Management […]

Binance Halts FTT Deposits

Cryptocurrency exchange Binance has stopped accepting deposits of FTX’s FTT token on its platform, its chief executive Changpeng Zhao said on Sunday, urging other rival exchanges to do the same. FTX, which filed for bankruptcy on Friday, was engulfed in more chaos on Saturday when the crypto exchange said it had detected unauthorized access and […]