Twitter’s new owner Elon Musk has disputed a report that the former CEO of failed cryptocurrency exchange FTX, Sam Bankman-Fried, owns millions of Twitter shares. Taking to Twitter on Wednesday, Musk shared a number of posts addressing the report, which was shared on the platform by former New York Times reporter and Editor-in-Chief of news site Semafor, Ben Smith….
Elon Musk Denies Claims Disgraced Crypto Boss Sam Bankman-Fried Holds Twitter Shares
November 25, 2022
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FTX Founder Sam Bankman-Fried to Speak at New York Times Event
November 24, 2022
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FTX founder Sam Bankman-Fried noted on Twitter on Nov. 23 that he would speak at an upcoming New York Times summit. “I’ll be speaking with @andrewrsorkin at the @dealbook summit next Wednesday (11/30),” Bankman-Fried posted on Twitter. Andrew Ross Sorkin, the founder and editor-at-large of DealBook at The New York Times, also confirmed that he…
FTX Bankruptcy: $740 Million in Cryptocurrency Assets Recovered
November 24, 2022
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BitGo, the firm tasked with locking down the crypto assets of bankrupt crypto exchange firm FTX, has recovered $740 million worth of assets so far, revealed a recent court filing. FTX debtors are in the process of locating and securing the company’s digital assets. As part of this, the debtors hired BitGo as the custodian…
FTX Was Sam Bankman-Fried’s ‘Personal Fiefdom,’ Lawyers Say
FTX was run like a “personal fiefdom” of former CEO Sam Bankman-Fried, a lawyer for the failed cryptocurrency exchange said in a Wilmington, Delaware bankruptcy court on Tuesday. The comment came during the first bankruptcy hearing for the collapsed crypto exchange, one of the biggest in the world. The hearing was live-streamed on both YouTube and Zoom. FTX…
Bankman-Fried Pushed for Crypto Regulation in Weeks Leading Up to FTX Bankruptcy
November 23, 2022
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One month prior to the catastrophic collapse, prominent crypto investors accused FTX founder Sam Bankman-Fried of “quietly lobbying” regulators. For well over a year, the former billionaire offered various suggestions, in interviews and in policy papers, as to how D.C. officials might police the nascent industry. Legislative influence runs in the family. His father, Joseph…
FTX Poured Millions Into Political Campaigns Before Bankruptcy
November 23, 2022
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Former FTX executives contributed significantly to this year’s midterm elections in an effort to gain influence in Washington. After the collapse of the cryptocurrency exchange, the big beneficiaries of FTX’s donations have attracted attention. According to the Center for Responsive Politics, FTX founder Sam Bankman-Fried and two other executives poured more than $70 million into…
Dollar on Edge Ahead of Fed Minutes, Kiwi Gains
LONDON—The U.S. dollar held firm on Wednesday ahead of the release of closely-watched minutes from the Federal Reserve’s latest policy meeting, while the New Zealand dollar strengthened on the back of a record rate rise to curb rampant inflation. The U.S. dollar index, which measures the currency against a basket of six counterparts, was broadly…
Bankrupt Crypto Exchange FTX Has Cash Balance of Over $1 Billion
November 22, 2022
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Bankrupt crypto exchange FTX has a cash balance in excess of $1 billion, according to a new filing by the company. The latest tally “identifies substantially higher cash balances than the debtors were in a position to substantiate as of Wednesday, Nov. 16,” the filing states, according to Bloomberg. In total, FTX is reported to…
Dollar Cedes Some Ground, Bitcoin Hunkers Down
SINGAPORE/LONDON—The dollar retreated on Tuesday after rallying the previous day when investors rushed to the safe-haven currency on worries about China’s COVID-19 flare-ups, while fears of fresh contagion from the collapse of crypto exchange FTX pressured bitcoin. The euro was up 0.3 percent at $1.0265 after an 0.8 percent loss on Monday, sterling rose 0.46…
New CEO of Bankrupt FTX Being Paid $1,300 an Hour, Court Filings Show
November 21, 2022
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John Ray, who has been hired as the new CEO of bankrupt crypto exchange FTX, is being paid a hefty sum of money for his services, according to legal documents filed by the company. Ray, who once led the infamous energy firm Enron through its bankruptcy proceedings, replaced FTX’s former CEO Sam Bankman-Fried. Ray is…
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