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” Sam Bankman-Fried is ‘deeply sorry’ for collapse in letter to FTX team “ Former FTX CEO Sam Bankman-Fried, also known as SBF, has reiterated apologies to the exchange’s employees in a letter explaining the collapse. According to a Nov. 22 letter reviewed by Cointelegraph, Bankman-Fried broke down the reasons behind FTX’s liquidity crisis and…
“Sam Bankman-Fried ‘deeply sorry’ for FTX collapse, blames bankruptcy” Disgraced FTX founder Sam Bankman-Fried told former employees he is “deeply sorry” about the implosion of his crypto exchange — but continued to point the finger at the company’s bankruptcy filing, insisting that he could have saved the platform if given enough time. “I feel deeply…
” Tether vs. USD Coin on-chain data reveals two very different stablecoins “ USD Coin (USDC), a stablecoin issued by the U.S.-based Circle Financials Ltd, is taking the lead over its top rival, Tether (USDT), when it comes to institutional adoption, according to on-chain data. USDC daily transfer volumes are higher The market capitalization of…
” US Sen. Elizabeth Warren says crypto will ruin economy —community responds “ The downfall of former crypto exchange FTX has had the entire industry in disarray since the situation began to unravel days before it declared bankruptcy on Nov. 11. A new op-ed from United States Senator Elizabeth Warren revealed a negative stance towards…
” FTX collapse triggers second thoughts on Busan City’s crypto exchange plans “ The FTX crash appears to have affected not only companies and investors but also entire cities that previously became partners of the troubled cryptocurrency exchange. South Korea’s second-largest city, Busan, is reportedly reconsidering its plans to build a local crypto exchange as…
“Miami-Dade asks for right to remove FTX name from Heat arena” Miami-Dade County has asked a federal bankruptcy court for immediate permission to end its naming rights deal with FTX and strip that brand off the arena where the NBA’s Miami Heat play. In a motion filed Tuesday, the county — which owns the arena…
” Argentina’s fan token sinks 31% after World Cup loss against Saudi Arabia “ Argentina’s shock 2-1 loss to Saudi Arabia in the opening match of the FIFA World Cup has plummeted the price of the Argentine Football Association Fan Token (ARG), in line with the hopes of the nation’s die-hard soccer fans. With the…
” Singapore central bank explains why Binance was on its alert list, but FTX wasn’t “ The Monetary Authority of Singapore (MAS), the country’s central bank, released a statement Nov. 21 to address “some questions and misconceptions that have arisen in the wake of the FTX.com (FTX) debacle.” The first point MAS wanted to make…
“Sam Bankman-Fried ran FTX like ‘personal fiefdom’ as firm spent $300M on luxury real estate” Sam Bankman-Fried treated FTX like a “personal fiefdom,” as he and a handful of associates looted the now-defunct crypto exchange’s coffers to fund an epic spending spree that included a $300 million splurge on Bahamas real estate, lawyers for the…
“Ex-Alameda co-CEO Sam Trabucco used poker, blackjack tricks to trade crypto” The former co-CEO of Alameda Research, the firm whose risky bets led to the implosion of its sister company FTX, used poker and blackjack card-counting tricks as strategies in trading cryptocurrency, according to a report. Sam Trabucco, the 30-year-old executive who ran Alameda alongside…