skip to main content joel khalili business nov 9, 2022 1:31 pm 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...
events Bankman-Fried also cautioned "my memory might be faulty in parts."11) I'll get to what happened. But for now, let's talk about where we are today.— SBF (@SBF_FTX)November 15, 2022In a Tuesday afternoon tweet, Bankman-Fried said the company's trading arm, called Alameda Res...
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...
What Happened To Blockbuster Blockbuster was an American movie and video game rental chain. The company went from industry leader to filing for bankruptcy with $1 billion in debt in less than a decade. Blockbuster relied on late fees to drive a high proportion of revenue. Thisstrategyproved unc...
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...
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 ...
"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 ...
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...
Instead, AML enforcement actions, such as those against crypto exchanges Binance and FTX, have been prosecuted under existing laws and statutes, such as the Bank Secrecy Act and the Foreign Corrupt Practices Act (FCPA). Only under the Anti-Money Laundering Act of 2020 did U.S. companies ...