Those undaunted by the contagion could potentially take advantage of steep discounts. Source
There’s Still Investment Opportunity After the Fall of FTX
Tag: FTX
FTX Collapse Won’t Derail UK’s Crypto Agenda, Minister Says
“For me, recent events in the crypto market reinforce the case for timely, clear and effective regulation,” Griffith said. “The Financial Services and Markets Bill already enables us to establish a framework for regulating crypto assets and stablecoins in the U.K., and we will be consulting on a world-leading regime for the rest of the crypto asset market later this year.” Source
CFTC chief says Bitcoin is the only commodity in the wake of FTX collapse
The chief of the United States Commodity Futures Trading Commission (CFTC), Rostin Behnam, claimed Bitcoin is the only crypto asset that can be viewed as a commodity during an invite-only crypto event at Princeton University, reported Fortune. Behnam’s comments are quite a contrast to his early statements in October, where he claimed Ether (ETH) could also be viewed as a commodity. The CFTC chief was answering a question on which crypto assets should be seen as commodities and which ones qualify as securities. The CFTC chief’s backtracking of his comments…
Former FTX Boss Speaks at Dealbook Event, Says He ‘Didn’t Knowingly Co-Mingle Funds’ – Bitcoin News
On Nov. 30, 2022, the former FTX CEO Sam Bankman-Fried (SBF) discussed FTX’s collapse at the New York Times’ Dealbook Summit with Andrew Ross Sorkin in his first live-appearance interview since the crypto exchange’s downfall. SBF told the Dealbook Summit host that he was “deeply sorry about what happened” and further stressed that he “didn’t knowingly co-mingle funds.” NYT Dealbook Summit Host Andrew Ross Sorkin Questions Sam Bankman-Fried, Former FTX CEO to Appear on Good Morning America FTX co-founder and former CEO Sam Bankman-Fried (SBF) sat down for a long…
BlackRock CEO Reveals Company’s $24M Investment in FTX
BlackRock is definitely not the last company to talk about the impact of the FTX collapse. Investment management company BlackRock (NYSE: BLK) CEO Larry Fink has revealed that the company is also one of the many affected by the FTX incident. According to Fink, BlackRock invested $24 million in the crypto exchange before its crash. It is no longer news that FTX has totally crumbled and is now under investigation by financial watchdogs. The crypto company’s collapse also affected many- including individual and institutional investors. The BlackRock CEO spoke about…
FTX Token caused downfall, but tech still revolutionary
The CEO of the worlds largest asset management firm, BlackRock, believes that the reason why FTX failed is because it created its own FTX Token (FTT), which was centralized and therefore at odds with the “whole foundation of what crypto is.” Larry Fink, who serves as chairman and CEO of the $8 billion investment company — made the remarks during New York Times’ 2022 Dealbook Summit held on Nov. 30, and added that despite his belief that FTX’s own-created token caused its downfall, he believes that crypto and the blockchain…
BlackRock CEO Larry Fink Says Firm Invested $24M in FTX: Reuters
CryptoX – Cryptocurrency Analysis and News Portal Speaking at the New York Times Dealbook conference, Fink also said it looked like there were misbehaviors in FTX, but wouldn’t speculate on whether BlackRock and venture-capital firm Sequoia, which had invested $214 million in FTX and has since marked that amount down to zero, were misled by FTX, Reuters reported. Source The post BlackRock CEO Larry Fink Says Firm Invested $24M in FTX: Reuters appeared first on CryptoX. CryptoX Portal
Crypto trading firm Auros Global misses DeFi payment due to FTX contagion
Crypto trading firm Auros Global appears to be suffering from FTX contagion after missing a principal repayment on a 2,400 Wrapped Ether (wETH) decentralized finance (DeFi) loan. Institutional credit underwriter M11 Credit, which manages liquidity pools on Maple Finance, told its followers in a Nov. 30 Twitter thread that the Auros had missed a principal payment on the 2,400 wETH loan, which is worth in total around $3 million. M11 Credit suggests that it is always in close communication with its borrowers, particularly after events in the last month, and…
US Treasury’s Yellen Says Crypto Doesn’t Have Adequate Regulation — Calls FTX Collapse ‘a Lehman Moment’ – Regulation Bitcoin News
U.S. Treasury Secretary Janet Yellen says that the collapse of crypto exchange FTX shows that the crypto industry “really needs to have adequate regulation.” She added: “It’s a Lehman moment within crypto, and crypto is big enough that we’ve had substantial harm with investors.” Treasury Secretary Janet Yellen on FTX Implosion and the Need for Adequate Crypto Regulation U.S. Treasury Secretary Janet Yellen talked about the need for adequate crypto regulation following the collapse of crypto exchange FTX at an event hosted by the New York Times Dealbook Wednesday. She…
Former FTX CEO Sam Bankman-Fried: 'I Didn’t Knowingly Commingle Funds'
In a highly anticipated interview at Wednesday’s Dealbook Summit, Sam Bankman-Fried expressed regret over his exchange’s collapse, but clung to the narrative that it was all just a bet gone wrong. Source