NEW YORK (AP) — The company tasked with locking down the assets of the failed cryptocurrency exchange FTX says it has managed to recover and secure $740 million in assets so far, a fraction of the potentially billions of dollars likely missing from the company's coffers.
NEW YORK (AP) — The man who had to clean up the mess at Enron says the situation at FTX is even worse, describing what he calls a “complete failure” of corporate control.
The filing by John Ray III, the new CEO of the bankrupt cryptocurrency firm, lays out a damning description of FTX’s operations under its founder Sam Bankman-Fried, from a lack of security controls to business funds being used to buy employees homes and luxuries.
NEW YORK (AP) — Just days after cryptocurrency's third-largest exchange collapsed, the public is starting to get an idea of how messy FTX's bankruptcy case could be.
NEW YORK (AP) — The rapid collapse of cryptocurrency exchange FTX into bankruptcy last week has also shaken the world of philanthropy, due to the donations and influence of FTX founder Sam Bankman-Fried in the “effective altruism” movement.
NEW YORK (AP) — Cryptocurrency exchange giant Binance is proposing the creation of a rescue fund that would save otherwise healthy crypto companies from failure, aiming to stave off the cascading effects of last week's implosion of FTX, the world's third-largest crypto exchange.
NEW YORK (AP) — Sam Bankman-Fried received numerous plaudits as he rapidly achieved superstar status as the head of cryptocurrency exchange FTX: the savior of crypto, the newest force in Democratic politics and potentially the world’s first trillionaire.
NEW YORK (AP) — Sam Bankman-Fried received numerous plaudits as he rapidly achieved superstar status as the head of cryptocurrency exchange FTX: the savior of crypto, the newest force in Democratic politics and potentially the world’s first trillionaire.
The imploding cryptocurrency trading firm FTX is now short billions of dollars after experiencing the crypto equivalent of a bank run.
NEW YORK (AP) — Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday.
The embattled company’s new CEO John Ray III said Saturday that FTX is switching off the ability to trade or withdraw funds and taking steps to secure customers’ assets, according to a tweet by FTX’s general counsel Ryne Miller.
NEW YORK (AP) — It took less than a week for FTX to go from the third-largest cryptocurrency exchange in the world to bankruptcy court.
The embattled cryptocurrency exchange, short billions of dollars, sought bankruptcy protection after the exchange experienced the crypto equivalent of a bank run.
NEW YORK (AP) — The swift collapse of cryptocurrency exchange FTX sent more shockwaves through the crypto world on Thursday, with authorities now investigating the firm for potential securities violations and analysts bracing for a further downturn in crypto prices.
NEW YORK (AP) — Cryptocurrency prices plunged for a second-straight day after crypto exchange Binance said it was pulling out of a deal to purchase failing rival FTX Trading.
Bitcoin sank to a two-year low after Binance confirmed earlier rumors and news reports that it was ready to back out of the FTX deal, struck between the CEOs of the two exchanges on Tuesday.
NEW YORK (AP) — The cryptocurrency exchange Binance said it plans to buy its rival FTX Trading, in the latest example of how fortunes can change rapidly in the crypto world.
Binance CEO Changpeng Zhao said on Twitter Tuesday that his company had signed a letter of intent to buy FTX because the smaller exchange was experiencing a “significant liquidity crunch.” The deal was pending due diligence, Zhao said on Twitter.
Binance, the world’s largest cryptocurrency exchange, may have lost more than $100 million following a hack of its Binance Smart Chain blockchain network.
A reddit post by Binance discussing the incident said that the company temporarily suspended transactions and the transfer of funds after detecting an exploit between two blockchains, a method of digital theft that has been used recently in at least one other major hack.
WASHINGTON (AP) — Top regulators on Monday recommended a series of new safeguards to ensure that a growing and unregulated cryptocurrency market doesn’t imperil U.S. financial stability.
Among seven major recommendations, regulators called on Congress to pass legislation that would address the systemic risks caused by the growth of stablecoins, which are a form of cryptocurrency pegged to the price of another financial asset, like the U.S.
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Tuesday that stablecoins will need greater regulation as they become more widely used by consumers.
SEOUL, South Korea (AP) — South Korean prosecutors have asked Interpol to issue a fugitive alert for the founder of Terraform Labs as they investigate a $40 billion crash of the firm’s cryptocurrency that devastated retail investors around the world.
WASHINGTON (AP) — The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar, saying it would help reinforce the U.S.
SAN FRANCISCO (AP) — A complex software change to the cryptocurrency ethereum holds the potential to dramatically reduce its energy consumption — and resulting climate-related pollution. But the transition known as "the merge" is not going to do the trick by itself.
WASHINGTON (AP) — A House oversight subcommittee asked regulators and industry leaders on Tuesday to explain what they are doing to stop cryptocurrency fraud and other scams perpetrated on consumers.
WASHINGTON (AP) — The Treasury Department is facing pushback from the cryptocurrency industry over sanctions imposed on a firm accused of helping to launder billions of dollars — with some funds going to North Korean hackers.
WASHINGTON (AP) — After 13 years, at least three crashes, dozens of scams and Ponzi schemes and hundreds of billions of dollars made and evaporated, cryptocurrencies finally have the full attention of Congress, whose lawmakers and lobbyists have papered Capitol Hill with proposals on how to regulate the industry.
NEW YORK (AP) — Robinhood Markets said Tuesday it's cutting nearly a quarter of its workforce, as crashing cryptocurrency prices and a turbulent stock market keep more customers off its trading app.
NEW YORK (AP) — A former Coinbase product manager and his brother, along with a Houston man, were charged Thursday in what federal authorities described as the U.S. government’s first cryptocurrency insider trading case.
LONDON (AP) — The Bank of England warned Tuesday that recent cryptocurrency meltdowns that wiped out more then $2 trillion in value highlight the need for tougher financial regulations
The U.K.'s central bank said that the crashes exposed vulnerabilities in the crypto markets reminiscent of previous bouts of financial turmoil.
ALBANY, N.Y. (AP) — New York officials denied required air permit renewals Thursday to a bitcoin-mining power plant on the grounds that it was a threat to the state's climate goals.
The permitting decision was another example of New York putting the brakes on a cryptocurrency bonanza that has alarmed environmentalists.
SAN SALVADOR, El Salvador (AP) — El Salvador’s Bitcoin-boosting president was back at it again Thursday, doubling down on his country’s losing investment in the cryptocurrency by buying over $1.5 million more.
LONDON (AP) — Europe has moved to lead the world in regulating the freewheeling cryptocurrency industry at a time when prices have plunged, wiping out fortunes, fueling skepticism and sparking calls for tighter scrutiny.
SEOUL, South Korea (AP) — South Korean prosecutors have barred dozens of people connected to Terraform Labs from leaving the country as they expand an investigation into a $40 billion collapse of the company’s cryptocurrency that devastated traders around the world.
NEW YORK (AP) — The wealth-generating hot streak for bitcoin and other cryptocurrencies has turned brutally cold.
As prices plunge, companies collapse and skepticism soars, fortunes and jobs are disappearing overnight, and investors’ feverish speculation has been replaced by icy calculation, in what industry leaders are referring to as a “crypto winter.”
NEW YORK (AP) — Circle is the cryptocurrency company behind USD Coin, the second-largest so-called “stablecoin” in the crypto industry.
Unlike more popular cryptocurrencies like bitcoin, stablecoins are typically backed by gold, government bonds, cash or other assets, and are typically priced on a 1:1 ratio with the U.S.
TOKYO (AP) — European benchmarks were higher Monday after most Asian markets retreated, while the price of bitcoin hovered near $20,000.
U.S. futures advanced and oil prices fell back early Monday.
OAKLAND, California (AP) — The price of a bitcoin inched above $20,000 on Sunday after the broader crypto selloff dragged it below the significant psychological threshold a day earlier.
The price of the world's most popular cryptocurrency was $20,129.70 as of Sunday afternoon.
SAN SALVADOR, El Salvador (AP) — El Salvador’s Bitcoin-boosting president has asked people to be patient after the price of the cryptocurrency fell below $20,000 — less than half the price the government paid.
NEW YORK (AP) — Bitcoin fell below the psychologically important threshold of $20,000 on Saturday for the first time since late 2020, in a fresh sign that the selloff in cryptocurrencies is deepening.
NEW YORK (AP) — Cryptocurrency company Circle said Thursday that it will start issuing its first euro-denominated cryptocurrency, a stablecoin known as Euro Coin, later this month.
It would be the first stablecoin in euros — the world's second-most-important reserve currency after the U.S.
Coinbase Global says it plans to cut about 1,100 jobs, or approximately 18% of its global workforce, as part of a restructuring in order to help manage its operating expenses in response to current market conditions.