The developments around the collapse of FTX justify concerns that the crypto industry “is built to favor scammers,” U.S. Sens. Elizabeth Warren, D-Mass., and Dick Durbin, D-Ill., said in a letter sent to the current and former CEOs of the crypto exchange. Get the Full Story...
Cryptocurrency brokerage Genesis has reportedly said it may file for bankruptcy if it doesn’t raise at least $1 billion in new funding. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional...
Venture capital (VC) firm Sequoia Capital has apologized to its investors for its loss in the fallen cryptocurrency exchange FTX and said it will step up its due diligence for future investments. Get the Full Story Complete the form to unlock this article and enjoy...
Bahamian liquidators who had filed a case related to the bankruptcy of FTX in New York have agreed to transfer that case to Delaware, where the fallen crypto exchange had already filed for bankruptcy protection. Get the Full Story Complete the form to unlock this...
Almost a full two weeks after first filing for bankruptcy on Nov. 11, the insolvent cryptocurrency exchange FTX finally held its first-day motion requests on Tuesday (Nov. 22). The hearing took place in Wilmington, Delaware, the traditional city where corporate bankruptcy cases are heard. Get...
FTX continues to be an industry “market maker” from beyond the grave, as the realities of entangled counterparty risk rear their heads throughout the cryptocurrency industry, while stoking fears over which companies might also now be in distress following FTX’s collapse. Get the Full Story...
The founder of cryptocurrency exchange Binance met with investors in Abu Dhabi last week to raise money for a recovery fund to help the industry following the FTX collapse. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
The former Co-CEO of Alameda Research reportedly enjoyed poker and blackjack and applied what he learned to the firm’s cryptocurrency trading. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
New managers at cryptocurrency exchange FTX have found the company and its affiliates have $1.24 billion in cash — more than what debtors had previously identified — as the beleaguered firm heads to U.S. bankruptcy court. Get the Full Story Complete the form to unlock...
