Tag: FTX

Elon Musk Slams Semafor’s ‘Journalistic Integrity’ — Tesla Exec Says ‘Semafor Is Owned’ by FTX Co-Founder Sam Bankman-Fried – Bitcoin News

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Following the significant amount of criticism directed at mainstream media publications for a lack of journalistic integrity while reporting on FTX executives, Tesla’s executive Elon Musk called out the news website Semafor because the former FTX CEO Sam Bankman-Fried (SBF) was a lead investor. Musk took to Twitter and let Semafor know that he believes Semafor has a “massive conflict of interest” when it comes to “journalistic integrity.” Semafor Takes a Tongue Lashing From Elon Musk, Tesla Exec Calls Firm’s Journalistic Integrity Trash On Nov. 23, 2022, the news website…

FTX collapse triggers second thoughts on Busan City’s crypto exchange plans

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The FTX crash appears to have affected not only companies and investors but also entire cities that previously became partners of the troubled cryptocurrency exchange. South Korea’s second-largest city, Busan, is reportedly reconsidering its plans to build a local crypto exchange as a consequence of the FTX collapse, the local news agency Yonhap reported on Nov. 23. The government and financial authorities of Busan have become increasingly concerned about the concept of a public-private digital exchange amid the FTX contagion. “In view of various conditions, it is unreasonable for the…

FTX Collapse Highlights Urgent Need for Tighter Crypto Regulation – Regulation Bitcoin News

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Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, says the collapse of cryptocurrency exchange FTX has highlighted the urgent need for tighter crypto regulation. “We should not wait until it is large and connected to develop the regulatory frameworks necessary to prevent a crypto shock that could have a much greater destabilizing impact,” said the deputy governor. Bank of England’s Cunliffe on FTX Collapse and the Need for Crypto Regulation Sir Jon Cunliffe, Bank of England’s deputy governor for financial stability, shared his view on the collapse…

US Senators Urge Fidelity to Stop Offering Bitcoin in 401(k) Plans Citing FTX Collapse, ‘Serious Problems’ in Crypto Industry – Featured Bitcoin News

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Several U.S. senators have called on Fidelity Investments to reconsider allowing bitcoin in 401(k) retirement plans. “The recent implosion of FTX, a cryptocurrency exchange, has made it abundantly clear the digital asset industry has serious problems,” the lawmakers told Fidelity CEO Abigail Johnson. US Senators Want Fidelity to Stop Offering Bitcoin in Retirement Plans Three U.S. senators sent a letter to Fidelity Investments CEO Abigail Johnson Monday regarding the financial services firm’s bitcoin offerings in 401(k) retirement plans. The letter was signed by senators Elizabeth Warren (D-MA), Richard J. Durbin…

Singapore central bank explains why Binance was on its alert list, but FTX wasn’t

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The Monetary Authority of Singapore (MAS), the country’s central bank, released a statement Nov. 21 to address “some questions and misconceptions that have arisen in the wake of the FTX.com (FTX) debacle.”  The first point MAS wanted to make was that it could not protect local users from the fallout from FTX collapse “such as by ringfencing their assets or ensuring that FTX backed its assets with reserves” because “FTX is not licensed by MAS and operates offshore. MAS has consistently warned about the dangers of dealing with unregulated entities.”…

On-Chain Data Shows Close Ties Between FTX and Alameda Were There From the Start: Nansen

“We could see that something’s going on, that they’re closely connected, that there are sufficient flows,” Polk said, referring to Nansen’s latest report, which takes a deeper look at what may have been happening between the corporate siblings. “But since FTX is a centralized entity, you can’t really see what’s happening inside [and] you can’t really know how much money should be there.” Source

Bankrupt Crypto Exchange FTX Owes $3,101,348,515 to 50 Largest Creditors

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The collapsed crypto exchange FTX owes more than $3.1 billion to its 50 largest creditors, according to a new bankruptcy filing. The new filing indicates the exchange’s largest creditor is owed more than $226 million, and the top 10 are owed approximately $1.45 billion collectively. The names of the creditors are not listed on the document. FTX’s legal team says the firm is still working out the final figures. “The Debtors’ investigation continues regarding amounts listed, including payments that may have been made but are not yet reflected on the…