Secure Your Books
Sam Bankman-Fried could soon be headed for a U.S. prison to face fraud charges. The former CEO of FTX—the cryptocurrency exchange that went abruptly bankrupt last month—is currently being held in a jail in the Bahamas. Bahamian authorities arrested him on Monday following a formal notification by the U.S. government that it had filed criminal … Read more
FTX founder Sam Bankman-Fried went on an “I screwed up” media blitz this week, highlighted by his video appearance at the New York Times DealBook summit on Wednesday and continuing into the Sunday talk shows. U.S. securities lawyer James Murphy, speaking to CNN’s Quest Means Business on Thursday, said Bankman-Fried “did a very good job … Read more
FTX founder Sam Bankman-Fried should be in custody by now, as far as Brian Armstrong is concerned. The Coinbase CEO said this week it’s “baffling to me why he’s not in custody already.” “The DOJ or somebody should be able to make—just based on his public statements, I think there’s a very open and shut … Read more
Billionaire tech entrepreneur and Dallas Mavericks owner Mark Cuban has offered his perspective on the implosion of crypto platform FTX late this week. “‘That’s somebody running a company that’s just dumb-as-fucking greedy.’” — Mark Cuban Cuban, speaking on Friday at a conference in Washington, D.C., hosted by Sports Business Journal, shared the view that avarice … Read more
Tim Draper, founder and managing partner of Draper Associates and Draper University, balked at comparing the stunning implosion of crypto trading platform FTX to the notorious biotech startup Theranos, in a conversation with MarketWatch. “It’s not like Theranos,” he said. In a Friday phone interview, Draper said he hadn’t been aware of anyone genuinely comparing … Read more
Investors feeling giddy about last week’s sharp rally for stocks might want to give a listen to Tom Waits’ song, “Whistlin’ Past the Graveyard” from 1978, to sober up for the dangers that still lurk ahead. The surge in stocks catapulted the S&P 500 index SPX, +0.92% almost back to the 4,000 mark on Friday, … Read more
BNY Mellon’s expansion to become a custodian for crypto is fuelled by high client demand according to its custody services chief executive, Caroline Butler. “You’ve seen demand for the asset class and you’ve seen it move more mainstream,” she told Financial News at this year’s Sibos. “But that trusted provider remains imperative for our institutional … Read more
The crypto winter is upon us, hammering institutional and retail investors alike. In a Barron’s Live webinar on 21 July, Financial News talked to Charles Allen, chief executive of blockchain infrastructure firm BTCS, to discuss the lasting consequences of the crash, the role of regulators, and what’s next for digital assets. This excerpt has been edited for clarity and … Read more
Traditional equity markets need to cut the red tape if they want to lure retail investors away from crypto, the chief executive of the London Stock Exchange has said. “If we want to protect consumers we should absolutely be making it easier for them to purchase regulated assets rather than having them go into the … Read more
RadioShack is back as a cryptocurrency swap platform—and it has hit a big milestone | Fortune You need to enable JavaScript to view this site.