With banks reporting $470 billion in unrealized losses and FDIC foreseeing the continuation of this trend, acting chairman Gruenberg believed banks must cautiously engage in crypto-asset activities. Economic uncertainty amid geopolitical tensions, rising interest rates and slowing economic growth have put a strain on the United States financial system. Reacting to the massive losses reported...Continue Reading

Brian Armstrong, the CEO of Coinbase has applauded the efforts of crypto analysts and citizen journalists amid the fall of FTX. Coinbase CEO and co-founder Brian Armstrong have applauded the work of citizen journalists and blockchain analysts surrounding the unfolding FTX crisis and its former CEO Sam Bankman-Fried. In a Nov. 16 tweet that has...Continue Reading

Circle attributed its miscalculated financial projections to Binance implementing USDC to BUSD auto-conversions and the recent collapse of FTX. Circle, the company behind the issuance of USDC Coin (USDC) said recent events have caused it to miscalculate its financial projections — referring to the collapse of FTX and a decision by rival exchange Binance. In September,...Continue Reading

The exploiter’s Ethereum haul is worth an estimated $288 million at current market prices. The hacker that exploited the now-bankrupt FTX exchange last week made a tidy fortune that has propelled them to Ether (ETH) whale status. Just a day after the embattled FTX exchange filed for Chapter 11 bankruptcy, its wallets were drained for...Continue Reading

The stablecoin issuer said Apple Pay support allows traditional businesses to experience the benefits of crypto settlement while allowing crypto businesses to engage with non-crypto-using customers. Circle, the issuer of the United States dollar-pegged stablecoin USD Coin (USDC), has added support for Apple Pay — with the intention of bringing the crypto and traditional payment...Continue Reading

Three members of a Sydney-based investment and advisory firm are assigned to help Australians impacted by the suspension of the local entity of Sam Bankman-Fried’s former crypto empire. Australia’s financial markets regulator has suspended FTX Australia’s financial license following the appointment of a voluntary administrator to help nearly 30,000 Australians and 132 Australian companies get...Continue Reading

Some challenged whether the multi-billion dollar venture capital firm did enough due diligence on FTX prior to investment. The co-founder of asset management firm Paradigm says they feel “deep regret” for having invested in FTX amid recent revelations involving FTX, Alameda Research, and Sam Bankman-Fried.  In a Twitter post on Nov. 15, Matt Huang, co-founder...Continue Reading

Galois Capital, New Huo Technology, and Nestcoin are just some of the crypto firms with funds stuck on FTX as the exchange undertakes bankruptcy filings in the United States. The collapse of the cryptocurrency exchange FTX continues to have knock-on effects throughout the crypto industry with multiple crypto-focused companies reporting significant amounts of their capital...Continue Reading

Lawmakers, regulators and even the institutional media don’t seem to have much interest in faulting SBF for using customer money to trade under the table. Will former FTX CEO Sam Bankman-Fried be held accountable for his mismanagement of investor funds? After most of the entities tied to his cryptocurrency exchange became insolvent last week, blockchain...Continue Reading

The disgraced banker of last resort has been displaying odd behavior on Twitter, leading to speculation about his intentions and mental condition. Sam Bankman-Fried, the former CEO of bankrupt cryptocurrency exchange FTX, has concluded a Twitter thread he started Nov. 14. In approximately 40 hours, he spelled out “What HAPPENED” across nine tweets and then...Continue Reading