Business Financial News
19.11 / 01:59
business
Law
Fried
Sam
fall
The fall of FTX and Sam Bankman-Fried might be good for crypto
“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information,” new FTX CEO John Ray III said in a legal filing on Thursday. “From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.”
19.11 / 01:13
business
Blockchain
Investments
Bankruptcy
Nickel Digital, Metaplex, and others continue to feel the impact of FTX collapse
Nickel Digital Asset Management is not the only company feeling the effects of FTX’s collapse and bankruptcy. NFT protocol Metaplex also laid off, “several members of the Metaplex Studios team” due to the "indirect impact" from the collapse of crypto exchange FTX. The co-founder and CEO of Metaplex Studios Stephen Hess shared in athread on Twitter that:
18.11 / 22:27
business
FTX
Bankruptcy
Crypto Biz: FTX fallout leaves blood in its wake
Bitcoin (BTC) is the greatest monetary revolution of the modern age. By simply buying and holding Bitcoin, citizens are staging a peaceful protest against the indentured servitude brought on by fiat economics. In the process, they’ve initiated one of the greatest wealth transfers of all time — a process that will take decades to play out fully.
18.11 / 20:07
business
Investments
Bloomberg
FTX
Investment manager
$138B investment manager Man Group to launch crypto hedge fund: Report
London-based investment manager Man Group Plc is preparing to launch a cryptocurrency hedge fund, signaling continued investor appetite for digital assets in the wake of FTX’s monumental collapse earlier this month.
18.11 / 16:03
business
FTX
FTX market aftershock reportedly causes Genesis Block to cease trading in Hong Kong
In the wake of the recent FTX scandal, another crypto business is feeling the market effects. Genesis Block, a frontrunner for providing cryptocurrency retail services in Hong Kong, announced it will cease trading and shutter operations, according to reports.
18.11 / 14:49
business
BitStamp
Crypto License
Bank of Spain
Bitstamp gets a crypto license from the Bank of Spain
Crypto exchange Bitstamp reported obtaining a license for operations with crypto in Spain. It marks approval in yet another European jurisdiction for an exchange, which has been focusing on the EU market since its launch in 2011.
18.11 / 13:15
business
Blockchain
Hackers
FTX
Fried
Sam
Extradition
Sam Bankman-Fried rumor mill running amok: Trading course, FBI extradition, FTX hack
Rumors and speculations surrounding former FTX CEO Sam Bankman-Fried (SBF) continue to bombard the crypto community as the effects of the FTX collapse proceeds to be felt throughout the crypto space.
18.11 / 12:17
18.11 / 10:11
business
Blockchain
Adoption
kpmg
NOT
Metaverse ‘explosion’ will be driven by B2B, not retail consumers: KPMG partner
The Australian arm of Big Four accounting firm KPMG could soon be holding executive meetings and closing multi-million dollar deals with clients in the Metaverse, with the firm now exploring how the revolutionary technology can transform its business model.
18.11 / 08:15
business
Twitter
Social Media
Twitter closes offices, staff resign while users eye decentralized options
Elon Musk has been shaking the Twitter tree since he took over the micro-blogging platform in late October. His latest move has resulted in an exodus of employees and office closures.
18.11 / 07:17
business
Government
Blockchain
regulation
Bahamian securities regulator ordered the transfer of FTX’s digital assets
The Securities Commission of The Bahamas (SCB) said it had ordered the transfer of all digital assets of FTX Digital Markets (FDM) to a digital wallet owned by the commission on Nov. 12.
18.11 / 07:17
business
Facebook
regulation
Apple
FTX names Kroll as claims agent, to update users on bankruptcy developments
Bankrupt crypto exchange FTX has appointed restructuring administration firm Kroll as its agent to track all claims against FTX and ensure interested parties are notified of developments throughout its Chapter 11 bankruptcy case.
18.11 / 04:37
business
Conference
FTX
Crypto industry was ‘judge, jury and executioner’ for FTX: Pompliano
Prolific podcaster and cryptocurrency investor Anthony Pompliano has not lost faith in people or the crypto industry despite the disappointing conduct of former FTX CEO Sam Bankman-Fried.
18.11 / 03:37
business
FTX
Credit Suisse
Bankruptcy
fall
FTX will be the last giant to fall this cycle: Hedge fund co-founder
While the FTX crisis is continuing to unfold, the former head of risk at Credit Suisse believes the exchange's fall from grace should be the last catastrophic event — at least in this market cycle.
18.11 / 00:51
business
Blockchain
FTX
Jump Crypto denies rumors that it intends to wind down due to FTX losses
Jump Crypto, a division of the Jump Trading Group, has denied rumors circulating online that it intends to wind down operations due to its exposure to FTX losses.
17.11 / 23:09
business
Blockchain
FTX
Genesis Trading
FTX and Alameda likely colluded from the very beginning: Report
According to a new report published by blockchain analytics firm Nansen on Nov. 17, bankrupt cryptocurrency exchange FTX was allegedly intertwined with that of crypto trading firm Alameda Research from the very beginning. Both entities were created by crypto businessman Sam Bankman-Fried, who is now being considered for extradition by U.S. authorities for his role in the collapse of the exchange.
17.11 / 18:09
business
Blockchain
Blockchain Game
Heroic Story secures $6 million to build Web3 tabletop RPG world
Web3 gaming protocol Heroic Story raised $6 million in a seed round led by Upfront Ventures with participation from Multicoin Capital and Polygon Technology, the company announced on Nov. 17.
17.11 / 18:09
business
Bitcoin
Australian
Australian firm raises $28M to expand Bitcoin mining capabilities
The turbulent climate of the crypto industry is not putting a full stop to builders in the space. Arkon Energy, an Australian renewable data center infrastructure company, recently raised millions to expand its Bitcoin (BTC) mining operations and acquired another European-based data center.
17.11 / 17:19
business
Government
education
Breaking down FTX’s bankruptcy: How it differs from other Chapter 11 cases
Collapsed crypto exchange FTX and 130 affiliates filed for bankruptcy in Delaware on Nov 11. Chaos followed as a number of FTX creditors, investors and industry experts began to question what would happen next.
17.11 / 16:37
business
lending
FTX
Bankruptcy
The FTX contagion: Which companies were affected by the FTX collapse?
While the FTX collapse may have had a severe effect on the broader crypto market, some companies bore the brunt of the impact and were directly hit by the storm that the embattled crypto exchange brought.
17.11 / 15:15
business
Government
Bitcoin
Deal
FTX acquisition no more: Canadian exchange Bitvo backs off the deal
The Canadian cryptocurrency exchange Bitvo has terminated its expected acquisition agreement with FTX to continue operating independently.
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