Fallout Financial News

Previously, the firm had been working to close a $100 million Series B+ extension round at a $3 billion valuation "in preparation for a potentially prolonged crypto winter".However, it was forced to jump straight to the Series C at a lower, but undisclosed, valuation.In a series of tweets, Amber says that less than 10% of its total trading capital was with FTX at the time of the exchange's collapse "but we did have to rebalance some positions".The firm is now narrowing its focus to its core business of institutional and wealthy clients and winding down its mass consumer efforts.CEO Michael Wu has told Bloomberg that the firm is also shrinking its headcount to early 2021 levels of 300 people - from a high of 1000 at the end of the second quarter - and cutting marketing spend, including a deal with Chelsea FC.

WASHINGTON—Trans-Atlantic ties are starting to fray as French President Emmanuel Macron and other European leaders chafe at new U.S. policies they say compound economic woes fueled by the war in Ukraine and the resulting energy crisis.

On Friday, November 11, 2022, FTX, the second largest cyrpto exchange, filed for bankruptcy in the Delaware Court, along with 134 bankrupt affiliates, as private companies, without filing the first day documents, including the first day declaration. FTX.US was included in the filing, which was a shock to the market.

Dash 2 Trade, the crypto analytics dashboard and trading strategy portal, has just announced that its D2T token pre-sale will be ending earlier than initially stated thanks to an accelerated development timeline.

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Financial regulators in South Korea want to impose a raft of new crypto-related laws – in a direct response to the collapse of the FTX crypto exchange and the implosion of Terra ecosystem coins in May.

In an email to customers, Genesis Block requested individuals withdraw all their funds, and that they will not be accepting new customers.

The new chancellor of the exchequer Jeremy Hunt will address UK parliament on 17 November with an Autumn Budget announcement comprising an austerity-filled expected £35bn in tax rises and public spending cuts amounting to around £25bn, according to published reports.

It’s been seven days since Sam Bankman-Fried said: “FTX is fine. Assets are fine.” 

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Even though WTI crude just saw its worst week in more than two months, the oil trade may have more juice left in the tank.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

WASHINGTON—Rapidly rising interest rates are squeezing the flow of private capital to the world’s poorest countries. The problem is that the preferred alternatives—the International Monetary Fund and World Bank—are getting quickly committed.

The City continues to reel from volatile trading in the pound, as new chancellor Kwasi Kwarteng reportedly seeks to reassure bankers while the Bank of England intervenes in bond markets.

Russia’s invasion of Ukraine will cost the global economy $2.8 trillion in lost output by the end of next year—and even more if a severe winter leads to energy rationing in Europe—the Organization for Economic Cooperation and Development said Monday.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.

ESG will be the catalyst for a new data revolution.

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Crypto startup Blockchain.com says it is laying off 25% of its staff, citing harsh market conditions.

As a deadline approaches for Russia to resume supplying natural gas to Germany this week, European officials and executives are growing concerned about a cascading economic fallout that would spread across the continent should Moscow keep the tap shut.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.