The CEO of cryptocurrency news site The Block, Michael McCaffrey, resigned when it was revealed that the business had received an undisclosed investment from former FTX founder Sam Bankman-Fried, according to a report by Axios. McCaffrey, who became CEO in April of 2020, has also resigned from the board of
On December 1st, Symbiont filed for Chapter 11 bankruptcy. After having joined the rush of businesses over a decade ago. Aiming to introduce crypto’s underlying blockchain technology into conventional finance. In a petition with the United States Bankruptcy Court for the Southern District of New York. The corporation said that
FTX, the bankrupt crypto exchange has hired financial forensic investigators to find the missing cryptocurrencies. According to a recent report from the Wall Street Journal, the new management of FTX has appointed a group of forensic investigators from the advisory company, AlixPartners to help find the billions of dollars that
Jim Cramer, head of CNBC’s Mad Money, cautioned investors that they still had time to liquidate their cryptocurrency holdings. Cramer warned investors to liquidate their cryptocurrency holdings before it’s too late since he anticipates a market collapse in 2023. He continued by saying that it’s never too late to sell
On Saturday, Brian Armstrong, CEO of Coinbase, criticized Sam Bankman-Fried’s story of how FTX lost $8 billion. According to Armstrong, FTX’s prior CEO, a physicist with a degree from MIT, would not allow billions of dollars to go without a trace. The CEO of Coinbase then explained how he thought
Sam Bankman-Fried, the former CEO of FTX, has said he won’t testify before Congress until he’s finished learning and assessing what transpired. U.S. Representative Maxine Waters invited Bankman-Fried to appear at a hearing for the U.S. House Committee on Financial Services on December 13 to investigate “what happened” at FTX
The efforts of mainstream media to tone down the frauds perpetrated by FTX CEO Sam Bankman-Fried (SBF) did not perform well in persuading the crypto community and entrepreneurs. Instead, Tesla CEO Elon Musk’s efforts to promote Twitter as the most reliable source of information ran head-on into the disinformation campaign.
Bankrupt FTX subsidiary business Alameda Research made its largest venture investment in Genesis Digital Assets, a cryptocurrency mining firm. On December 3rd, Bloomberg released documents showing that in less than nine months, Genesis Digital had raised $1.15 billion from Alameda. Injection of funds took place between August 2021 and April
Former FTX US president Brett Harrison is now trying to raise money for a new cryptocurrency firm. The report states that he is attempting to raise $6 million while valuing the firm at $60 million. The company’s stated goal is to develop cryptocurrency trading software for institutional investors. This comes
Sam Bankman-Fried, the ex-CEO of FTX, a cryptocurrency exchange that was once valued at $26 billion, told Axios on Monday that he is now down to his final $100,000. Early in November, when word broke that the cryptocurrency exchange required a bailout, the founder saw the vast majority of his
