Tag: News

New FTX CEO Says Sam Bankman-Fried Does Not Speak on Firm’s Behalf, After SBF’s Candid Interview With Vox – Bitcoin News

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Following the former FTX CEO Sam Bankman-Fried’s (SBF) interview with the New York Times and several direct text messages with Reuters, SBF recently did a much longer and more candid interview with Vox journalist Kelsey Piper. After the interview done via Twitter direct messages, the current FTX chief restructuring officer and CEO John Ray explained that SBF has no ongoing role at FTX International, FTX US, or Alameda Research. Ray further stressed that the former FTX CEO “does not speak on their behalf.” SBF: ‘This Dumb Game We Woke Westerners…

BTC, ETH Decline as USD Strengthens Following Retail Sales Data – Market Updates Bitcoin News

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Bitcoin was in the red for a second consecutive session, as markets continued to digest the latest U.S. retail sales figures. Sales rose by more than expected in October, coming in at 1.3%, versus expectations of a 1% increase. The result fueled market belief that the U.S Federal Reserve will now pivot its policy. Ethereum dropped below $1,200 in today’s session. Bitcoin Bitcoin (BTC) fell for a second straight day, as markets continued to react to the latest U.S. retail sales report. Following the better than expected increase in consumer…

Russia and Cuba Eye Cryptocurrencies for Settlements Amid Sanctions – Bitcoin News

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Both facing sanctions, Russia and Cuba are looking into alternative options for cross-border payments, including cryptocurrencies, a Kremlin advisor has unveiled in Havana. Moscow is already developing a mechanism for crypto settlements to circumvent financial restrictions imposed over its invasion of Ukraine. Crypto and Ruble Considered for Payments in Trade Between Russia and Cuba The governments of Russia and Cuba are considering the use of Russian rubles and cryptocurrencies to facilitate bilateral cooperation against the backdrop of sanctions imposed on both nations. The news comes from a statement made by…

Nigerian Web3 Startup Says Funds Are Stuck With FTX, Lays Off Employees – Bitcoin News

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Nestcoin, a Nigerian Web3 startup which got an investment from Alameda Research in 2021, revealed on Nov. 14 that it had “a significant proportion of stablecoin investment” stuck at FTX. According to the startup’s CEO, laying off some employees allows the company to focus on building a more decentralized crypto future. Using FTX as Custodian of Nestcoin’s Stablecoins The Nigerian Web3 startup Nestcoin informed its investors on Nov. 14 that funds earmarked for the entity’s day-to-day activities are stuck with the collapsed crypto exchange FTX. The Web3 startup said after…

6,522 ‘Sleeping Bitcoins’ Worth $107 Million Wake Up After 5 Years of Inactivity – Bitcoin News

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On Nov. 16, 2022, at Bitcoin block height 763,474, someone transferred 6,522 bitcoin worth roughly $107 million after the coins sat idle for more than five years. While bitcoin’s value is 75% lower than it was a year ago, so-called sleeping bitcoins have been waking up amid the recent crypto market capitulation. While Bitcoin’s Price Remains 75% Lower Than a Year Ago, a Slew of Old Bitcoins Start Moving After Years of Inactivity Five days ago, 3,500 bitcoin from 2011 were transferred for the first time in 11 Years. Amid…

Australia Suspends Financial Services License of Local FTX Entity – Exchanges Bitcoin News

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Australia’s securities regulator has suspended the license of the Australian unit of the bankrupt crypto exchange FTX until mid-May. According to an issued statement, the platform will be allowed to provide limited financial services until Dec. 19 in order to terminate existing derivatives. FTX Australia Sees License Suspended After Accepting Voluntary Administration The Australian Securities and Investments Commission (ASIC) has suspended the financial services license of FTX Australia Pty Ltd. until May 15, 2023. The decision comes after the local arm of the failed cryptocurrency exchange was placed under voluntary…

Investment Firm Paradigm Still Optimistic About Crypto — Says ‘Issues at FTX Are Precisely Ones Defi Can Solve’ – Featured Bitcoin News

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Investment firm Paradigm is still optimistic about crypto’s potential following the collapse of FTX. “The blowup of FTX has caused some to question crypto’s value. But the issues at FTX are precisely ones that decentralized finance [defi] can solve through increased transparency and security,” the firm’s co-founder emphasized. Paradigm on FTX Collapse, Defi Paradigm co-founder Matt Huang took to Twitter to explain the impact cryptocurrency exchange FTX’s collapse has on his company. Paradigm is a San Francisco-based investment firm focused on supporting crypto and Web3 companies and protocols. “We are…

Berkshire’s Charlie Munger Likes the Fed, Hates Bitcoin Promoters, Calls Tesla’s Success a Miracle – Featured Bitcoin News

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Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett’s right-hand man, has commented on the collapse of crypto exchange FTX, stating that “it is partly fraud and party delusion.” Noting that “the country did not need a currency that’s good for kidnappers,” he stressed: “I basically like the existence of the Fed … I hate bitcoin promoters.” He also said that Tesla’s success is a “minor miracle.” Berkshire’s Charlie Munger on Bitcoin, FTX Collapse, the Fed, Tesla, and Elon Musk Charlie Munger, Warren Buffett’s right-hand man and longtime business partner, has…

Kevin O’Leary Slammed for Saying He’d Back Former FTX CEO Again — Insists SBF Is a ‘Brilliant’ Crypto Trader – Featured Bitcoin News

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Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says that he would again back Sam Bankman-Fried (SBF), the former CEO of the collapsed crypto exchange FTX. “You can’t be serious,” many people told O’Leary, alleging that SBF is a fraud who stole billions from FTX customers. Kevin O’Leary Ignores Evidence of Fraud, Says He’d Back ex-FTX CEO Sam Bankman-Fried Again Shark Tank star Kevin O’Leary has shocked many people when he said on the Crypto Banter podcast, published Tuesday, that he would still back Sam Bankman-Fried (SBF), the former CEO…

Robert Kiyosaki Says Bitcoin Isn’t the Problem — Calls Former FTX CEO the ‘Bernie Madoff of Crypto’ – Featured Bitcoin News

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The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says bitcoin is not the problem following the collapse of cryptocurrency exchange FTX. Kiyosaki believes that former FTX CEO Sam Bankman-Fried is more like the Bernie Madoff of crypto than the Warren Buffett of crypto. Robert Kiyosaki on Bitcoin, FTX Blowup, Bernie Madoff The author of Rich Dad Poor Dad, Robert Kiyosaki, has shared his thoughts about bitcoin, the collapsed crypto exchange FTX, and its former CEO Sam Bankman-Fried (SBF). FTX filed for bankruptcy last week and…