FinTech
Sam Bankman-Fried could face years in prison over FTX’s $32 billion meltdown — if the U.S. ever gets around to arresting him
FTX CEO Sam Bankman-Fried attends a press conference at the FTX Arena in downtown Miami on Friday, June 4, 2021. Matias J. Ocner | Miami Herald | Tribune News Service | Getty Images Sam Bankman-Fried, the disgraced former CEO of FTX — the bankrupt cryptocurrency exchange that was worth $32 billion a few weeks ago […]
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Tim Draper predicts bitcoin will access $250,000 future yr irrespective of FTX collapse: ‘The dam is about to break’
Tim Draper, founder of Draper Associates, onstage at the Website Summit 2022 tech meeting. Ben McShane | Sportsfile through Getty Photos Undertaking capitalist Tim Draper thinks bitcoin will hit $250,000 a coin by the middle of 2023, even soon after a bruising 12 months for the cryptocurrency marked by field failures and sinking rates. Draper […]
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DOJ asks for unbiased probe into FTX personal bankruptcy, a most likely tactic to acquire evidence on alleged fraud
John Ray, chief govt officer of FTX Cryptocurrency Derivatives Trade, comes at bankruptcy courtroom in Wilmington, Delaware, US, on Tuesday, Nov. 22, 2022. Eric Lee | Bloomberg | Getty Photographs The Department of Justice has asked for that an unbiased examiner be appointed to critique “sizeable and significant allegations of fraud, dishonesty” and “incompetence” following […]
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Bitcoin Family is moving more than $1 million into decentralized exchanges after Sam Bankman-Fried’s FTX disaster
The Taihuttu family in November, days after moving back to Phuket. Didi Taihuttu Confidence is quickly eroding in the crypto sector, as it faces a wave of bankruptcies and investigations into Sam Bankman-Fried and his failed exchange, FTX, for losing and misspending billions of dollars in user deposits. But Didi Taihuttu, his wife, three daughters, […]
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European Central Lender says bitcoin is on the ‘road to irrelevance’
Critical Details In a blogpost, ECB Director Basic Ulrich Bindseil and Analyst Jürgen Schaff reported that bitcoin’s recent selling price stabilization this 7 days is probable an “artificially induced final gasp in advance of the road to irrelevance.” Bitcoin topped $17,000 Wednesday, marking a two-yr significant for the world’s most significant digital coin. The remarks […]
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Peter Thiel’s VC fund backs TreeCard, a fintech that plants trees when you spend
Crucial Details TreeCard, a weather-mindful digital funds application, raised $23 million from buyers which includes Peter Thiel’s Valar Ventures, EQT and World Fund. The organization makes use of 80% of the gains it would make from card interchange expenses to plant trees via its companion Ecosia, the Google lookup rival. The offer underscores greater fascination […]
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BlockFi attorney tells individual bankruptcy courtroom that the priority is to ‘maximize consumer recoveries’
In this picture illustration, the BlockFi logo found shown on a smartphone. Rafael Henrique | Sopa Pictures | Lightrocket | Getty Images BlockFi legal professionals claimed for the duration of the crypto lender’s bankruptcy hearing on Tuesday that the firm ideas to reopen withdrawals as element of an effort to “increase customer recoveries.” A working […]
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Binance, other crypto corporations line up bids for bankrupt Voyager Electronic soon after FTX collapse
Crucial Details Electronic currency financial institution Voyager Digital has been thrown back to sq. a person immediately after FTX, which experienced to begin with agreed to acquire the business, filed for bankruptcy. Crypto platforms Binance and CrossTower both equally explained they plan to post revised bids for the enterprise. Binance has also set up a […]
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Binance deploys $1 billion to keep crypto field afloat just after FTX collapse
Critical Details Binance stated it will commit $1 billion in first commitments to the recovery fund. It may possibly raise that quantity to $2 billion at a point in time in the upcoming “if the want occurs,” the firm additional. Considering that FTX’s rapid winddown, buyers have concerned about a crypto contagion influencing each individual corner […]
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CEO of $4.5 billion tech business slams his peers above layoffs: ‘These are humans’
Wefox CEO Julian Teicke. Wefox HELSINKI, Finland — The manager of European digital insurance policies startup Wefox offered a damning reaction to tech businesses that have laid off workers en masse. The likes of Meta, Amazon and Twitter have laid off tens of hundreds of personnel in response to strain from traders, who want to see them […]
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