Business Financial News

21.11 / 09:45

business Blockchain Adoption Investments Billionaire investor Bill Ackman says 'crypto is here to stay'

Billionaire investor and hedge fund manager Bill Ackman says he remains bullish about cryptocurrencies, despite the recent collapse of the FTX cryptocurrency exchange and the market turmoil that’s followed it.

21.11 / 07:13

business Blockchain regulation Bankruptcy accounting Celsius had 'insufficient' accounting and operational controls, says examiner

The independent examiner in crypto lender Celsius’ bankruptcy case has alleged that the company failed to set up “sufficient” accounting and operational controls in its handling of customer funds.

21.11 / 06:27

business Ethereum Twitter Bitcoin Crypto sleuth debunks 3 biggest misconceptions about the FTX hack

On-chain sleuth ZachXBT has shared his findings on what he sees as the three most common misconceptions about the FTX hack — taking to Twitter to correct a "ton of misinformation" about the event and the possible culprits.

21.11 / 03:55

business FTX Bankruptcy Lawyers Getting funds out of FTX could take years or even decades: Lawyers

While investors are eager to know when they will be able to get their funds back from the now-bankrupt crypto exchange FTX, insolvency lawyers warn it could take “decades.”

21.11 / 01:49

business Blockchain FTX Bankruptcy creditors FTX owes over $3 billion to its 50 biggest creditors: Bankruptcy filing

According to a court filing on Nov. 20, FTX Trading LTD owes its top 50 creditors over $3 billion USD. The document, which was submitted through the United States bankruptcy court for the district of Delaware, was filed as part of the company’s Chapter 11 bankruptcy proceedings.

20.11 / 14:51

business regulation South Korea investigates crypto exchanges for listing native tokens

Native cryptocurrencies turned out to be the biggest factor contributing to the demise of numerous exchanges and ecosystems this year, most recently during the FTX collapse. Korea's financial authority, Korea Financial Intelligence Unit (KoFIU), took notice of the same as it launched a probe into crypto exchanges in relation to listing their in-house, self-issued tokens.

20.11 / 11:03

business regulation Fraud Bankruptcy Bankrupt crypto Bankrupt crypto exchange FTX begins strategic review of global assets

As part of the recent bankruptcy filing, the defunct crypto exchange FTX, along with 101 of the 130 affiliated companies, announced the launch of a strategic review of their global assets. The review is an attempt to maximize recoverable value for stakeholders.

20.11 / 08:45

business SEC legislation American CryptoFed registration at risk as SEC alleges filing anomalies

American CryptoFed DAO, the first decentralized autonomous organization (DAO) to get legal recognition in the United States, is at risk of losing its registration after the U.S. Securities and Exchange Commission (SEC) dug up anomalies in the Form S-1 registration statement dated Sept. 17, 2021.

20.11 / 07:15

business Blockchain FTX FTX collapse won't impact everyday use of crypto in Brazil: Transfero CEO

The crumbling of the FTX crypto empire may have damaged Brazilian retail and institutional sentiment toward crypto. However, its impact won't affect everyday citizens — who will still use crypto for cross-border transactions.

20.11 / 05:35

business Ripple Buy Bankruptcy Ripple to consider deals for FTX assets: Brad Garlinghouse

Ripple CEO Brad Garlinghouse is reportedly interested in buying certain parts of collapsed crypto exchange FTX.

19.11 / 22:51

business Twitter Bankruptcy Crypto community reacts to mainstream media coverage of FTX’s implosion: criticism, misogyny and more

The crypto community on Twitter is heavily criticizing the mainstream media for its poor and biased coverage of the collapse of cryptocurrency exchange FTX.

19.11 / 19:43

business Investments I predicted FTX's collapse a month before it happened

The collapse of FTX has shown that where there’s smoke, there’s fire.

19.11 / 19:43

Dogecoin business Twitter Is DOGE really worth the hype even after Musk’s Twitter buyout?

2022 continues to be a year of surprises, with one of the biggest so far being Elon Musk’s decision to acquire social media juggernaut Twitter for a whopping $44 billion. While the takeover has set into motion a whole host of debates — particularly those pertaining to Big Tech censorship — it has also called into question the future of Dogecoin (DOGE), a digital currency of which the billionaire has been a big proponent over the last couple of years.

19.11 / 17:09

business Blockchain FTX exchanges Reserve reserves Proof-of-reserves: Can reserve audits avoid another FTX-like moment?

In the wake of the FTX collapse that came about as a result of the now-bankrupt cryptocurrency exchange funneling user funds to mitigate its own risks, crypto exchanges came up with a transparency solution called proof-of-reserves.

19.11 / 13:53

business Ethereum Investments Binance CEO CZ begins working on Vitalik Buterin's ‘safe CEX’ ideas

The collapse of numerous major crypto ecosystems in 2022 revealed the urgent need for revamping the way crypto exchanges operate. Ethereum (ETH) co-founder Vitalik Buterin believed in exploring beyond “fiat” methods to ensure the stability of crypto exchanges, including technologies such as Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (ZK-SNARKs).

19.11 / 13:05

business cryptocurrency FTX Crash Warren Buffett's Berkshire warns about crypto website using its name

Berkshire Hathaway Inc (BRKa.N), run by billionaire Warren Buffett, on Friday warned investors it has no affiliation with a purported cryptocurrency brokerage website using the Berkshire Hathaway name.

19.11 / 11:59

business Law Twitter Court Lawyers SBF's lawyers terminate FTX representation due to conflicts of interest

Paul, Weiss, the law firm backing FTX CEO Sam Bankman-Fried (SBF) amid bankruptcy, renounced representing the entrepreneur, citing a conflict of interest. The decision to withdraw from representation after SBF’s tweets were found to disrupt the law firm’s reorganization efforts.

19.11 / 11:03

business cryptocurrency World safe Customers After FTX, crypto exchanges struggle to convince customers they’re safe

Moves by cryptocurrency exchanges to reassure markets about their stability are having little effect on jittery users, who keep pulling funds from the venues.

19.11 / 08:05

business regulation Court investigation Terraform Labs South Korea seizes $104M from Terra co-founder suspecting unfair profits

While crypto exchange FTX stole the limelight from other fallen ecosystems, South Korean authorities continue their efforts to bring closure to the victims of the year’s first crypto crash — Terraform Labs. Nearly six months after the Terra (LUNA) blockchain was officially halted, South Korean authorities froze approximately $104.4 million (140 billion won) from co-founder Shin Hyun-seong based on suspicion of unfair profits.

19.11 / 06:45

business FTX Congress information FTX leadership pressed for information by US subcommittee chairman

The former and current CEOs of the bankrupt FTX cryptocurrency exchange have been pressed by the chair of a United States House subcommittee calling for documents relating to the exchange's finances.

19.11 / 05:21

business Liquidity Grayscale Digital Asset reserves Grayscale cites security concerns for withholding on-chain proof of reserves

Cryptocurrency investment product provider Grayscale Investments has refused to provide on-chain proof of reserves or wallet addresses to show the underlying assets of its digital currency products citing “security concerns.”

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