The entire $16 billion fortune of former FTX co-founder Sam Bankman-Fried has been wiped out, one of history’s greatest-ever destructions of wealth. The downfall of his crypto empire — which filed for bankruptcy on Friday along with his resignation — means assets owned by the mogul once likened to John Pierpont Morgan have become worthless. […]
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FTX is scrambling to raise about $9.4 billion from investors and rivals, a source said on Thursday, as Chief Executive Sam Bankman-Fried urgently seeks to save the cryptocurrency exchange that has been buffeted by a rush of customer withdrawals. Bankman-Fried has discussed raising $1 billion each from Justin Sun, the founder of crypto token Tron, […]
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On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message. “I’m sorry,” he told them. “I fucked up.” The reason for the mea culpa: His announcement half an hour earlier that FTX’s arch-rival, Binance, planned to mount a shock takeover of its main trading platform to save […]
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First came the mariachi band, a flame-juggling dancer and the models in bathing suits and ballgowns sauntering beside the pool of a Miami mansion. Then the spectacle began. A businessperson who built his wealth on waves of speculation — riding the dot-com surge in the 1990s and then the rapid growth of bitcoin in recent […]
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The deal is the latest emergency rescue in the world of cryptocurrencies this year, as investors pulled out from riskier assets amid rising interest rates The deal is the latest emergency rescue in the world of cryptocurrencies this year, as investors pulled out from riskier assets amid rising interest rates Crypto giant Binance signed a […]
Continue ReadingThe socialite had not disclosed that she received $250,000 for promoting the crypto token EthereumMax- mandatory as per federal securities laws The socialite had not disclosed that she received $250,000 for promoting the crypto token EthereumMax- mandatory as per federal securities laws The story so far: North American TV star Kim Kardashian on Monday agreed […]
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A blockchain linked to Binance, the world’s largest crypto exchange, has been hit by a $570 million hack, a Binance spokesperson said on Friday, the latest in a series of hacks to hit the crypto sector this year.Binance CEO Changpeng Zhao said in a tweet that tokens were stolen from a blockchain “bridge” used in […]
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The Bam Bam Beach bitcoin bar, on an uncrowded beach in southwestern Portugal, is the meeting place. To get there, you drive past a boat harbor, oceanside hotels and apartment buildings, then park near a sleepy seafood restaurant and walk down a wooden path that cuts through a sand dune. Yellow bitcoin flags blow in […]
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The week after Ethereum’s Merge event saw macroeconomic factors pulling prices lower, even though many Ether investors were hoping for a surge. The week after Ethereum’s Merge event saw macroeconomic factors pulling prices lower, even though many Ether investors were hoping for a surge. On Friday, Bitcoin was close to falling under the $19,000 level […]
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The cryptocurrency market is a volatile beast. The digital token price rollercoaster has recently seen Bitcoin fall from grace and then rebound almost immediately. This volatility is the result of market manipulation, companies going bankrupt and investors getting hacked. But it’s also exactly what makes crypto so appealing for investors looking for high returns. Investing […]
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