The ultimate responsibility is now on SBF’s political contributions, despite predictions from experts that he would likely face prison time for misusing crypto cash. Sam Bankman-Fried’s contributions to the U.S. Midterm Election 2022 made news in the first week of November, just days before the FTX collapsed. SBF was reportedly
The Bahamian government has criticized new FTX CEO John J. Ray III for his role in imposing restrictions on the corporation. The battle to decide what to do with FTX’s broken enterprise has recently intensified. The Attorney General of the Bahamas, Ryan Pinder, said on November 27 that FTX CEO
Ripple’s APAC (Asia Pacific) policy director said that the collapse of FTX is exactly why crypto needs to move away from the hype cycle and towards real utility. He also described that the FTX fall is incredible damage for the crypto space, but it says that the industry should stand
The Monetary Authority of Singapore (MAS), the regulator in charge of the crypto sector, has defended the action it took against Binance, rather than the bankrupt crypto platform FTX. The central bank also warned that cryptocurrencies are extremely volatile, with many losing all of their value. And, on Nov 21,
On Friday, Abu Dhabi-based cryptocurrency trading firm Hayvn said that it was contemplating making an offer to acquire FTX’s payments business, FTX Pay. Executives at Hayvn believe FTX Pay is a good fit for the Hayvn Pay system. Moreover, it has been claimed that FTX, now a defunct cryptocurrency exchange,
Binance contributed another $1 billion to industry recovery initiatives on November 24. And the fund was raised to the tune of $2 billion to protect the crypto firms’ recovery. Furthermore, Binance CEO Changpeng Zhao “CZ” indicated that all funds are in BUSD. Yesterday, #Binance allocated ANOTHER $1 billion to the
The casualties of the FTX collapse are not seemingly slowing down. Evidently, the bankrupted crypto exchange’s fall caused the global crypto market cap to plunge to $780 billion on Monday. Popularly, November 2021 turned out to be the crypto summer when the crypto market cap rose to $3 trillion. Notably,
As per Semafor, Sam is said to be associated with Twitter. The publication mentioned Sam to be holding a $100 million stake in the micro-blogging social media. Twitter chief Elon Musk completely declines this statement. Elon tweeted: No. He may have owned shares in Twitter as a public company, but
The directors of Marvel’s “Avengers” franchise have been engaged by Amazon to create a mini-series on the demise of crypto exchange FTX. Film trade publication Variety reports that “Avengers: Infinity War” and “Avengers: Endgame” filmmakers Joe and Anthony Russo, as well as the directors of Netflix’s “The Gray Man,” will
The Turkish Treasury and Finance Ministry said on Wednesday that an investigation into allegations of fraud against Sam Bankman-Fried, the former CEO of the cryptocurrency exchange FTX, had begun. To aid with their investigation, Turkish authorities have frozen the accounts of Bankman-Fried and its subsidiaries. The Minister of Treasury and
