Circle marks a possible $3B loss from Binance stablecoin conversions
Circle attributed its miscalculated financial projections to Binance implementing USDC to BUSD auto-conversions and the recent collapse of FTX. Circle, the company behind the issuance of USDC Coin (USDC) said recent events have caused it to miscalculate its financial projections — …
FTX downfall was a turning point for citizen journalism: Coinbase CEO
Brian Armstrong, the CEO of Coinbase has applauded the efforts of crypto analysts and citizen journalists amid the fall of FTX. Coinbase CEO and co-founder Brian Armstrong have applauded the work of citizen journalists and blockchain analysts surrounding the unfolding …
FTX hacker is now the 35th largest holder of ETH
The exploiter’s Ethereum haul is worth an estimated $288 million at current market prices. The hacker that exploited the now-bankrupt FTX exchange last week made a tidy fortune that has propelled them to Ether (ETH) whale status. Just a day …
Paradigm co-founder feels ‘deep regret’ investing in SBF and FTX
Some challenged whether the multi-billion dollar venture capital firm did enough due diligence on FTX prior to investment. The co-founder of asset management firm Paradigm says they feel “deep regret” for having invested in FTX amid recent revelations involving FTX, …
FTX Australia’s license suspended as 30K Aussies left in the lurch
Three members of a Sydney-based investment and advisory firm are assigned to help Australians impacted by the suspension of the local entity of Sam Bankman-Fried’s former crypto empire. Australia’s financial markets regulator has suspended FTX Australia’s financial license following the …
Crypto stablecoin issuer Circle adds Apple Pay support
The stablecoin issuer said Apple Pay support allows traditional businesses to experience the benefits of crypto settlement while allowing crypto businesses to engage with non-crypto-using customers. Circle, the issuer of the United States dollar-pegged stablecoin USD Coin (USDC), has added …
FTX bankruptcy freezes millions worth of crypto company funds
Galois Capital, New Huo Technology, and Nestcoin are just some of the crypto firms with funds stuck on FTX as the exchange undertakes bankruptcy filings in the United States. The collapse of the cryptocurrency exchange FTX continues to have knock-on …
Will SBF face consequences for mismanaging FTX? Don’t count on it
Lawmakers, regulators and even the institutional media don’t seem to have much interest in faulting SBF for using customer money to trade under the table. Will former FTX CEO Sam Bankman-Fried be held accountable for his mismanagement of investor funds? …
California AG issues warning-ladened guidance for public interested in buying crypto
In an effort to help consumers “avoid the hype, [and] get the facts,” Rob Bonta has created a page on crypto buying dominated by lists of scams, red flags and other unpleasantness. With the cryptocurrency market becoming ever more complex …
SBF winds down mystifying Twitter thread that said little over many hours
The disgraced banker of last resort has been displaying odd behavior on Twitter, leading to speculation about his intentions and mental condition. Sam Bankman-Fried, the former CEO of bankrupt cryptocurrency exchange FTX, has concluded a Twitter thread he started Nov. …