skip to main content what the hell happened to ftx? the collapse of crypto exchange ftx opens opportunities for rival exchange binance—and raises questions about the sector’s sustainability. photograph: daniel grizelj/getty images save save the world’s largest crypto exchange, binance, has ...
At first, Binance was willing to acquire FTX to ensure its clients could recover their assets. However, the company quickly withdrew its offer due to FTX’s “mishandling of customer funds and alleged U.S. agency investigations” (Binance, 2022). There are allegations that FTX loaned at least...
The 30-year-old MIT grad, whom Fortune magazine flagged as thepotential "next Warren Buffett," then added in a follow-up tweet, "I'll get to what happened. But for now, let's talk about where we are today." Bankman-Fried founded FTX in 2019, just as cryptocurrencies were starting to...
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On Tuesday (8 November 2022), Coinbase Co-Founder and CEO Brian Armstrong did a decent job of reassuring the users of the exchange that what happened at FTX was highly unlikely to happen at Coinbase.
"I'm haunted, every day, by what was lost. I never intended to hurt anyone or take anyone's money. But I was the CEO of FTX, I was responsible for what happened to the company, and when you're responsible it doesn't matter why it goes bad. I'd...
One of the things that Bankman-Fried said to Sorkin today was that he didn’t spend enough time thinking about the potential downside of crypto markets, and that he never anticipated the kind of sell-off that’s happened in crypto — and in FTX’s own token, ...
What happened to NFTs? What is crypto winter? NFT sales dropped precipitously in the summer of 2022, with the Ethereum network going from hosting $3 billion in transactions that May to barely $500 million in July. What became known as crypto winter was further triggered by FTX’s collapse ...
the architect of the $26 billion FTX cryptocurrency meltdown that destroyed the livelihoods of thousands, is the son of two other Stanford Law School professors. Somehow they were involved in the Bankman-Fried family’s acquisition of a $16.4 million vacation home gifted to them from FTX shortly...
The price of Ripple’s XRP went up – and then rapidly down – today on leading United States-based cryptocurrency exchange Coinbase. As the cryptocurrency rallied to over $0.90 USD, a price it hasn’t hit since May of 2018, it took seconds to fall back down again crashing by almost 30...