‘We were worried about ecosystem startups’ — Solana co-founder on FTX collapse

Solana co-founder Anatoly Yakovenko reflects on the fallout of FTX’s failure and its initial impact on Solana ecosystem builders.

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Sam Bankman-Fried denies defrauding FTX users at trial

As the final witness in his defense case, the former FTX CEO placed some of the blame for the crypto exchange’s failure on Gary Wang and Nishad Singh.

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Changpeng Zhao’s tweet ‘contributed’ to collapse of FTX, claims Caroline Ellison

The former Alameda Research CEO placed part of the blame for FTX’s failure on CZ, while the Binance CEO claimed Ellison’s offer to buy the firm’s FTT holdings was the cause.

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Max Keiser Slams DeFi as ThorSwap Suspends Operations Over FTX Hacker

Prominent Bitcoin advocate says his old forecast about DeFi failure has come true

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Silvergate Announces Leadership Changes As Liquidation Progresses

Silvergate, a major crypto-friendly bank, announced the departure of three top executives as part of its liquidation process following its collapse due to a domino effect triggered by the failure of cryptocurrency exchange FTX.

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From 3AC Failure to Ridiculous FTX Vision: Kyle Davies Strikes Again

In twist of audacity, Kyle Davies now pitches 'solution' to FTX's crisis

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Binance's CZ: 'Thought had crossed my mind, but not a practical solution'

According to CZ, regulators weaponized FTX’s failure to target the crypto-industry Binance buying a crypto-friendly bank not a practical solution, he added Binance CEO Changpeng “CZ” ZThe post Binance's CZ: 'Thought had crossed my mind, but not a practical solution' appeared first on AMBCrypto.

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Ripple CEO To SEC: Suing Exchanges Won’t Save You From “FTX Debacle”

Ripple CEO Brad Garlinghouse has declared that SEC’s recent actions wouldn’t distract the industry from its failure in what he called the “FTX debacle. ” Garlinghouse also stated that Gensler’s actions now differ from his “pro-innovation stance”.

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Post FTX, 3AC-connected OPNX exchange goes live

In the aftermath of the failure of FTX, some former execs from defunct cryptocurrency firm 3AC have teamed up to launch a new cryptocurrency exchange.

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New FTX management says FTX paid $2.2 billion to Sam Bankman-Fried

FTX filed for Chapter 11 bankruptcy in November 2022 and shortly after the new CEO John J. Ray III described the exchange’s collapse as a “complete failure of corporate controls and a complete absence of trustworthy financial information.

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Hybrid DEX, INNODEX, emerges amid FTX, Silvergate liquidity crises

NvirWorld's INNODEX might offer a solution amid failure of Silvergate, Silicon Valley Bank, and FTX

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52 Million Americans Own Crypto Amid ‘Frustration’ In Biased Financial System: Survey

A year of disaster for the cryptocurrency market saw the demise of Terra/Luna, Three Arrows Capital, and Celsius Network, as well as the failure of the FTX exchange. Investors were left in a state of disarray, misery, and uncertainty as a result of the events, and many began to wonder if the business had a […]

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Nine Years Ago Today: Recalling The Bitcoin Exchange Failure That Was Much Bigger Than FTX

While FTX’s collapse last year rattled the Bitcoin ecosystem, nine years ago a bigger failure damaged it even more. What does that teach us?

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FTX's Failure Highlights Need for Federally Mandated Insurance, Not More Regulation

There is extensive precedent for requiring companies providing critical infrastructure to get special insurance. Why not require crypto companies to back themselves with a market-based solution, say the founders of Evertas, a crypto insurance provider?

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Blockdaemon CEO: Success of crypto is predicated on systemic failure; we’ll see more of that

All major players should work with multiple infrastructure providers   Companies like Nasdaq will continue to work on Bitcoin, permissioned networks, and stablecoins Talia Caplan of CNBC Crypto World talked to Konstantin Richter, the founder and CEO of Blockdaemon, about blockchain adoption following the fall of FTX and what 2023 holds for crypto.

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Investors ditch FTX, Celsius, Blockfi, and Voyager debt as doubts surface

Cryptocurrency debt trading firm Xclaim has reported that over a hundred institutional investors have been negatively impacted by the failure FTX.

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Mark Cuban's take on FTX, why he backs BTC and hopes its price drops further

Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, considers Bitcoin as a good investment Cuban doesn't consider the FTX debacle as a crypto failure, but rather a case The post Mark Cuban's take on FTX, why he backs BTC and hopes its price drops further appeared first on AMBCrypto.

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Blockchain didn’t fail, says Pantera’s CEO on FTX collapse

Pantera Capital’s CEO says FTX’s collapse was not caused by blockchain failure. In a letter to investors, Dan Morehead said there is a need for trustless systems in the ecosystem. Business in the blockchain space is moving back to safe entities, Morehead added.

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Where To Now As Bitcoin Says Goodbye To Exchanges

After the failure of custodians like Celsius, FTX, and others, cryptocurrency holders have been pushed towards self-custody. This trend, which began in 2020 primarily thanks to the emergence of onchain decentralized finance solutions, has accelerated massively in 2022.

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FTX bears the brunt of SBF's decisions as it attempts to reclaim these funds

FTX undertaking legal action to recoup payments by companies and former employees FTX plans to file lawsuits in case of failure on the part of political parties to return the donations CryptThe post FTX bears the brunt of SBF's decisions as it attempts to reclaim these funds appeared first on AMBCrypto.

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Binance Under The Microscope As Market FUD Dominates

In the wake of the FTX failure, centralized crypto exchanges are now firmly in the sights of law enforcement, politicians, and of course, their user bases. As the largest of them all, Binance is feeling the heat as it attempts to introduce more transparency to its global operations.

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FTX saga: Audited Proof of Reserves is a great welcome, but here’s the risk

Binance, Crypto.com, and KuCoin have released audited Proof of reserves (PoR). The audits followed the same procedure (AUP). The AUP procedure has an inherent risk, e.g. the failure to detecThe post FTX saga: Audited Proof of Reserves is a great welcome, but here’s the risk appeared first on AMBCrypto.

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CryptoSlate Wrapped Daily: SBF faces 8 criminal charges; Binance reportedly has billions in undisclosed reserves

The biggest news in the cryptoverse for December 13 includes the arrest of former FTX CEO Sam Bankman-Fried, the testimony of FTX’s new CEO John Ray on what led to the exchange’s failure and Binance reportedly having billions stored away in secret reserves.

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Financial Stability Board (FSB) to finalize global crypto regulations in early 2023

The failure of FTX has prompted the Financial Stability Board to propose regulations for the cryptocurrency industry in early 2023, along with a timeline for implementation.

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Regulators face public ire after FTX collapse, experts call for coordination

U.S regulators and their failure to avoid another crypto contagion have raised a lot of questions over their credibility.

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US Justice Department Wants FTX Fraud Allegations to Be Investigated

The collapse was described as the "fastest big corporate failure in American history," in a court filing.

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US lawmakers launch official inquiry into FTX failure

In the wake of the FTX implosion, Lawmakers who benefited from FTX cash set out to probe its collapse.

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Singapore’s financial regulator defends against FTX accusations

The government financial regulators associated with the FTX collapse have defended themselves, saying the FTX failure “is the nature of investment and risk-taking.” Singapore officials absolves themselves of FTX damages Following the news yesterday that the Singapore government officials are…

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US lawmaker questions major crypto exchanges on consumer protection amid FTX collapse

Binance, Coinbase, Bitfinex, Gemini, Kraken and KuCoin were targets of one senator's probe into protections the firms had in place if a failure similar to FTX’s occurred again.

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Singapore government under fire FTX failure

Singapore’s long-serving Prime Minister, Lee Hsien Loong, and his deputy, Lawrence Wong, are reportedly facing increasing scrutiny over the fallout from the collapse of FTX.

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FTX collapse put the Singapore government in a parliamentary hot seat

The opposition party MPs has questioned the credibility over its failure to protect retail investors from FTX collapse and had demanded data on the extent of losses incurred by the investors.

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FTX’s failure is not a harbinger of crypto: Gavin Wood

Gavin Wood co-founded Ethereum, Polkadot and Parity Technologies among other top crypto platforms. He says FTX’s implosion offers a chance for crypto to go for “decentralised, trust-free technology.

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Galaxy Digital CEO Expects Slow Grind to Build Trust After FTX ‘Failure to Self-Regulate’

The CEO of Galaxy Digital expects a slow grind to build trust with clients as back-to-back black swan events hit the crypto industry. The post Galaxy Digital CEO Expects Slow Grind to Build Trust After FTX ‘Failure to Self-Regulate’ appeared first on BeInCrypto.

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Senators Demand Investigation Into FTX

Senators Elizabeth Warren and Sheldon Whitehouse have demanded an investigation into FTX’s failure. Warren, Whitehouse Demand DOJ Action FTX could soon face further investigations. In a letter published today, Senators...

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Sam Bankman-Fried says he is ‘deeply sorry’ for collapse in letter to FTX team

The former CEO describes his role in the exchange’s downfall as a failure in oversight, saying he should have been “more skeptical of large margin positions.”

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Bitcoin will survive failure of ‘any giant’ in crypto, Samson Mow says

Bitcoin cannot be destroyed by the fall of cryptocurrency giants like FTX or, hypothetically, other big exchanges, according to Samson Mow.

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Cardano’s Hoskinson calls for stronger governance as FTX failure proves humans are ‘bad at being honest’

Input Output (IO) CEO Charles Hoskinson argued that cryptocurrency needs strong governance to avoid repeating what happened at the defunct FTX exchange. The post Cardano’s Hoskinson calls for stronger governance as FTX failure proves humans are ‘bad at being honest’ appeared first on CryptoSlate.

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U.S. Republican Senator writes to Federal authorities on FTX’s collapse

Sen. Hawley requested documents and correspondence regarding the failure of cryptocurrency platform FTX in a letter to senior Biden federal authorities.

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Op-Ed: Could DCG be the catalyst for max pain in the crypto markets?

Following the recent collapse of FTX, the fallout spread to Genesis, which had already been bailed out by parent company Digital Currency Group (DCG) earlier this year following the failure of Three Arrows Capital.

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FTX Collapse Won’t Stop Kevin O’Leary From Keeping Cryptos on Exchanges

Shark Tank investor Kevin O'Leary revealed that he would keep his assets on crypto exchanges despite the recent failure of FTX. The post FTX Collapse Won’t Stop Kevin O’Leary From Keeping Cryptos on Exchanges appeared first on BeInCrypto.

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“A Complete Failure Of Corporate Control,” Says New FTX CEO As He Unearths Even More Dirt Leading To The Collapse

John J. Ray III has been given the reins over the beleaguered FTX, but barely a week after his takeover, the new man in charge has been left dazed by the “complete failure of corporate control.”

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FTX’s Sam Bankman-Fried Eyes A Comeback, But Binance CEO Thinks It Is Highly Unlikely

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'A Complete Failure of Corporate Controls': What Investors and Accountants Missed in FTX’s Audits

An expert review of FTX’s audited financial statements reveals a series of red flag related-party transactions that should have led to more scrutiny of the company’s operations.

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FTX’s bankruptcy filings show ‘complete failure of corporate controls’

Bankruptcy filings have called out Sam Bankman-Fried (SBF) and the entire FTX team for a complete failure of corporate controls. The latest bankruptcy filings have blasted SBF and his executives for completely failing to have a handle on their corporate affairs.

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The FTX Failure Shows Why I Hate Trading And Investing

Trading risky assets on centralized exchanges is the opposite of the saving Bitcoin incentivizes.

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First Mover Asia: Bitcoin Won't Budge. Cryptos Ignore the FTX Chaos for Another Day

Sam Reynolds writes that venture capitalists’ failure to scrutinize crypto exchange FTS parallels oversights that led to energy giant Enron’s notorious bankruptcy two decades ago. New FTX CEO should know because he helped oversee Enron’s filing.

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Congress’s Failure to Pass Regulation Caused FTX’s Debacle, Asserts Crypto-Friendly Senator

US Senator Pat Toomey has blamed FTX’s collapse on the lack of clear regulations. Speaking during the Financial Regulators Hearing on November 15, the legislator took aim at the US Congress, suggesting that if the house had passed regulations on custody for the industry earlier, the FTX implosion could have been avoided. “It certainly appears […]

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FTX Fraud: More Bombshell Revelations in New Bankruptcy Filing

Lies, embezzlement, incompetence, and several instances of fraud are some of the subjects discussed in the new filing. A Complete Failure of Corporate Controls Things are going from bad to...

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FTX Exchange Release Day One Bankruptcy Filing: “Complete Failure”

The newly appointed CEO of FTX provides initial bankruptcy filing calling previous management a “complete failure” and details misuse of corporate funds.

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