Tag: FTX

NYC Mayor stands by Bitcoin pledge amid bear market, FTX: Report

boss

Eric Adams, who became mayor of New York City in January, has reportedly stood behind a campaign pledge to make the city a crypto hub, despite a drop in the price of many tokens in 2022. According to a Dec. 12 report from Slate, Adams suggested he still wanted New York City to be the “center of the cryptocurrency industry” — one of the plans he announced during his mayoral run in November 2021. The New York City mayor reportedly converted the first of his three paychecks while in office…

Balaji Srinivasan Says FTX Is a Preview of State Failure, USD Bank Accounts Could Be Frozen or Inflated to Worthlessness – Economics Bitcoin News

boss

Angel investor Balaji Srinivasan says the collapse of crypto exchange FTX should be treated as “a preview of state failure.” He warned that one day U.S. dollar bank accounts “may be frozen or inflated to worthlessness,” emphasizing that the authorities “will show no interest in prosecuting.” Srinivasan cautioned: “That world is coming and we need alternatives.” Balaji Srinivasan on FTX, State Failure, and U.S. Dollars Becoming Worthless Angel investor Balaji Srinivasan commented on the collapse of crypto exchange FTX in a series of tweets Saturday. Formerly the CTO of crypto…

Rock Legend Gene Simmons Is Holding Crypto Despite Market Sell-Offs and FTX Collapse – Featured Bitcoin News

boss

Rock band Kiss’ lead singer Gene Simmons has confirmed that he is still holding crypto despite the crypto winter and the collapse of cryptocurrency exchange FTX. “I’m deep in crypto. I believe in it,” the rock legend affirmed. Noting that he has several cryptocurrencies, including bitcoin and ethereum, Simmons stressed: “Personally, I’m holding, but everybody should do their own due diligence.” Gene Simmons Says He’s ‘Deep in Crypto’ Rock legend Gene Simmons confirmed Thursday that he is still holding cryptocurrencies despite the crypto winter and the collapse of crypto exchange…

Before the Bankruptcy Filing, FTX Co-Founder SBF Was Told by Crypto Execs to ‘Stop Trying to Depeg Stablecoins’ – Bitcoin News

boss

According to a recent report published by the Wall Street Journal (WSJ), cryptocurrency executives were allegedly concerned that Sam Bankman Fried’s (SBF) Alameda Research was trying to “depeg stablecoins.” Purportedly, high-up executives from crypto exchanges are members of a Signal chat group called “Exchange coordination,” and Binance CEO Changpeng Zhao (CZ) ostensibly told SBF to stop causing “more damage.” Binance CEO Allegedly Told SBF to Stop Causing ‘More Damage’ and to ‘Stop Trying to Depeg Stablecoins’ The Wall Street Journal (WSJ) reports that just before the crypto exchange FTX filed…

New York Times, FT, Bloomberg Blasted for Attempting to Get FTX Creditors’ Names Unsealed – Bitcoin News

boss

Amid the ongoing FTX bankruptcy proceedings, court documents indicate that media firms such as Bloomberg, the New York Times (NYT), Dow Jones & Company, and the Financial Times (FT) want the redacted information tied to FTX creditors unsealed. The media companies believe the public should be made aware of the creditors’ information, as the publications stressed in the court filing that the “news media acts as the eyes and ears of the public.” So-Called ‘Media Intervenors’ Insist the Court Should Unseal FTX’s Creditor Information Four major news media publications have…

FTX Insider Reveals New Document, Musk Catches Flak for SBF Comments, Nobel Prize Laureate Krugman Warns of Eternal Winter for Blockchain — Week in Review – The Weekly Bitcoin News

boss

It’s been another wild week in crypto, with a claimed FTX insider revealing a controversial document related to former Alameda Research CEO Caroline Ellison’s account at FTX. In related news, Elon Musk has been criticized for suggesting that former FTX CEO Sam Bankman-Fried (SBF) probably donated much more than publicly admitted to Democrats. Morgan Creek Capital CEO Mark Yusko has suggested that SBF was a “pawn” used by higher-ups to punish crypto. These stories and more in this latest edition of the Bitcoin.com News Week in Review. Document Claims Alameda…

FTX Co-Founder Sam Bankman-Fried Agrees to Testify Before US Congress – Regulation Bitcoin News

boss

The co-founder of collapsed crypto exchange FTX, Sam Bankman-Fried (SBF), has agreed to testify at one of the two congressional hearings set for next week. “I had thought of myself as a model CEO, who wouldn’t become lazy or disconnected,” Bankman-Fried claimed. Sam Bankman-Fried to Testify Before Congress Former FTX CEO Sam Bankman-Fried (SBF) has agreed to testify before the House Committee on Financial Services after the committee’s chair, Congresswoman Maxine Waters, politely tweeted inviting him to testify several times. “I still do not have access to much of my…

Goldman Sachs buying crypto firms, FTX news, 3AC and Celsius updates: Hodler’s Digest Dec. 4-10

boss

Top Stories This Week 7 class action lawsuits have been filed against SBF so far, records show Former FTX CEO Sam Bankman-Fried has been named in seven class action lawsuits filed since the fall of his crypto empire. These lawsuits, however, are separate from the numerous probes and investigations examining the crypto exchange and its founder, including a reported market manipulation probe by federal prosecutors. Another headline shows the United States House of Representatives has called on SBF to speak at a hearing on Dec. 13. Amid investigations by lawmakers…

SBF tried to destabilize crypto market to save FTX: Report

boss

Tether executives and Binance CEO Changpeng “CZ” Zhao worried that Sam Bankman-Fried (SBF), former FTX CEO, was attempting to destabilize the crypto market aiming to save the now-bankrupt exchange, according to reports on Dec. 9. Messages seen by The Wall Street Journal of a Signal group chat named “Exchange coordination” reveals an argument between CZ and SBF on Nov. 10 about Tether’s stablecoin USDT. Members in the Signal group include Kraken co-founder Jesse Powell, Paolo Ardoino, chief technology officer of Tether, among others. According to the report, CZ and others…

Chipper Cash Valuation Dropped to $1.25 Billion After it Secured Additional Funding From FTX – Featured Bitcoin News

boss

After Chipper Cash ended 2021 as one of Africa’s most valued fintechs, the FTX-backed startup’s valuation dropped from $2 billion to $1.25 billion after it reportedly received a $35 million simple agreement for future equity (SAFE) grant from the now-collapsed crypto exchange FTX. Chipper Cash has also reportedly laid off 50 employees as it seeks to cope with the deteriorated macroeconomic environment. FTX’s Simple Agreement for Future Equity Chipper Cash, one of the several African fintech startups to receive funding from FTX, saw its valuation drop from $2 billion to…