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“Kraken slashing 1,100 jobs as crypto turmoil spreads” Cryptocurrency exchange Kraken said on Wednesday it would cut its global workforce by 30%, or about 1,100 employees, citing tough market conditions that have crippled demand for digital assets this year. Higher interest rates and worries of an economic downturn have roiled cryptocurrencies as investors fled risky assets, with…
“Wild FTX spending included all-expense trips and free massages” FTX executives spent wildly and showered workers with lavish perks such as free food and massages, and Amazon deliveries by private jet in the months before the cryptocurrency site’s catastrophic collapse, according to former employees. FTX’s headquarters in the Bahamas featured daily catering “in addition to…
“Sam Bankman-Fried claims he only has $100K in bank account” Disgraced FTX founder Sam Bankman-Fried claims he has just $100,000 left in his bank account after the implosion of his cryptocurrency empire. The remarks Monday marked Bankman-Fried’s first attempt to explain his current personal wealth during intense scrutiny over his handling of FTX’s finances. The…
” Bankruptcy court told FTX and Alameda owe BlockFi $1B… but it’s complicated “ A lawyer for BlockFi told the first day hearing of its bankruptcy proceedings that the crypto lender has $355 million stuck on FTX and that the collapsed exchange’s sister company Alameda Research has defaulted on a $680 million loan. BlockFi filed…
” Bankman-Fried on the hook in Texas, called to appear at Feb. hearing “ Former FTX CEO Sam Bankman-Fried has been called to a Feb. 2 hearing by the Texan securities regulator as part of an investigation into whether he and FTX US have violated Texas securities laws. In a Notice of Hearing signed off…
” SBF reveals what was behind FTX’s reopening of Bahamian withdrawals “ FTX’s former CEO Sam Bankman-Fried has divulged what really went on in the days before it filed for bankruptcy when the exchange selectively reopened withdrawals — only for Bahamian users. In a telephone interview with crypto blogger Tiffany Fong, dated Nov. 16, Bankman-Fried…
” Learn from FTX and stop investing in speculation “ The FTX collapse marks more than just the failure of another crypto exchange. It signals the time has come for the industry to grow up and embrace value. The value schism is here. FTX was the world’s second-largest crypto exchange. Now, it is a meme…
” ‘I never opened the code for FTX’: SBF has long, candid talk with vlogger “ Former FTX head Sam Bankman-Fried (SBF) selected cryptocurrency vlogger Tiffany Fong for a series of lengthy and candid telephone interviews. In the two interviews that had been released on YouTube at press time, SBF speaks about many of the…
“FTX founder Sam Bankman-Fried ghosted legal team over bankruptcy: report” Disgraced FTX founder Sam Bankman-Fried ignored pleas from company attorneys and advisers urging him to file for bankruptcy “for days” before the cryptocurrency platform imploded, according to a report Tuesday. FTX general counsel Ryne Miller was one of several people who begged Bankman-Fried and other…
” FTX reportedly used Alameda’s bank accounts to process customer funds “ The FTX contagion saga sees new revelations around its misconduct every other day, and the latest one solidifies the collusion between the failed crypto exchange and its sister company Alameda Research from the very beginning. FTX, like many other crypto exchanges, found it…