Tag: FTX

Cryptocurrencies Trade in Sync After FTX Collapse – Just Not With Stocks

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…

FTX Australia’s license suspended as 30K Aussies left in the lurch

boss

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 their funds back from FTX. The announcement was made by the Australian Securities and Investments Commission (ASIC) on Nov. 16 local time, which suspended the Australian Financial Services (AFS) license of FTX’s local entity until May 15, 2023. Before its suspension, FTX Australia’s AFS license permitted it to create a market for derivatives and foreign exchange contracts to Australian-based retail and wholesale clients.…

Paradigm co-founder feels ‘deep regret’ investing in SBF and FTX

boss

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 and managing partner of Paradigm said the firm is “shocked” by the revelations surrounding the two companies and their founder, adding: “We feel deep regret for having invested in a founder and company who ultimately did not align with crypto’s values and who have done enormous damage to the ecosystem.” Matt Huang, Managing…

Mark Cuban Says FTX Implosion Isn’t Crypto Blowup — Explains Why He Invests in Crypto – Featured Bitcoin News

boss

Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, says recent blowups in the crypto space, including the FTX implosion, “have been banking blowups,” not crypto blowups. He also explained why he invests in crypto. Recent Blowups Aren’t Crypto Specific Mark Cuban explained on Twitter Saturday that the implosion of FTX is not a crypto blowup. Commenting on his Shark Tank co-star Kevin O’Leary discussing why the collapse of the crypto exchange signals a turning point in the industry, Cuban tweeted: These blowups have not…

FTX bankruptcy freezes millions worth of crypto company funds

boss

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 stuck on FTX. Between Nov. 11 to 14 three crypto companies announced large losses with one of them having to lay off workers to deal with the crisis. On Nov. 11, crypto hedge fund Galois Capital announced it had “significant funds” stuck on FTX, with a Nov. 12 Financial Times report that said a possible $50 million worth of Galois’ assets were stuck on…

Yellen Says FTX Collapse Shows Weaknesses of Entire Crypto Sector — Fed’s Brainard Pushes for Strong Regulation – Regulation Bitcoin News

boss

U.S. Treasury Secretary Janet Yellen and Federal Reserve Vice Chair Lael Brainard have stressed the need for strong crypto regulation. Yellen said the FTX collapse shows “the weaknesses” of the entire crypto sector while Brainard cautioned that failures from one platform are “spilling over into elsewhere.” Yellen: Crypto Needs ‘Very Careful Regulation’ U.S. Treasury Secretary Janet Yellen shared her concerns regarding the implosion of cryptocurrency exchange FTX Saturday in an interview with Bloomberg. She stressed that FTX’s failure has reinforced her view that the crypto market requires “very careful regulation,”…

Will SBF face consequences for mismanaging FTX? Don’t count on it

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 analysts concluded the insolvencies came as a partial result of the exchange’s trading house, Alameda Research, burning through nearly $10 billion in cash that technically belonged to FTX customers. To date, the company has declined to elaborate on the contractual details that made the arrangement possible — or legal. In the aftermath of FTX’s collapse, skeptics have questioned whether the…

TRX Surges Over 600% Following Justin Sun’s Deal With FTX

boss

Tron’s native token TRX has been seeing significant upside on the FTX exchange since the announcement of a potential deal that would allow users to withdraw funds. This deal is one of the only ones that have gone into effect since FTX began experiencing issues and it seems users are already taking advantage of it. However, it is not all rosy as users begin to notice the downside to this. TRX Price Explodes On FTX TRX token is already up more than 500% on the FTX crypto exchange over the…