Tag Archives: crypto

The FTX collapse that is ballooning into arguably the biggest financial story of 2022 is worsening for Tom Brady, Steph Curry and other major endorsers of the now-bankrupt cryptocurrency platform. The director of enforcement for the Texas State Securities Board has announced that state regulators are investigating multiple celebrity endorsers tied to the FTX trading platform. The probe is an an effort to determine whether securities laws were violated by Brady, Curry and others while… Source link

Bitcoin and Ether both fell in Monday morning trading in Asia along with all of the top 10 non-stablecoin cryptocurrencies by market capitalization. With the exception of XRP, all the top 10 also lost ground over the last seven days as more details emerged about the failure of the FTX exchange. In addition, FTX appealed to other exchanges to help track the hacker who stole an estimated US$600 million from the Bahamas-based exchange and began moving the funds into other tokens. See related… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, Nov. 16, 2022 Today’s newsletter is by Brian Sozzi, an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Read this and more market news on the go with Yahoo Finance App. Trust is a vital element in investing — stocks, bonds, you name it. I trusted Walmart when it reported Tuesday that… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Monday, November 14, 2022 Today’s newsletter is by Brian Sozzi, an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn. Read this and more market news on the go with Yahoo Finance App. Let’s look at the bright side of the FTX-driven crypto crash to kick off what will likely be another long week for the… Source link

The imploding cryptocurrency trading firm FTX is now short billions of dollars after experiencing the crypto equivalent of a bank run. The exchange, formerly one of the world’s largest, sought bankruptcy protection last week, and its CEO and founder resigned. Hours later, the trading firm said there had been “unauthorized access” and that funds had disappeared. Analysts say hundreds of millions of dollars may have vanished. The unraveling of the once-giant exchange is sending shockwaves… Source link

The bankruptcy filing of crypto exchange FTX on Friday did not stop the chaos surrounding the once prominent and trusted crypto trading venue. Since the filing that included 135 affiliated companies, millions of dollars in crypto have been stolen from the company, which is facing a shortfall between $6 billion and $10 billion. Bahamian officials are also probing the matter. “I don’t think it’s an understatement to predict that the FTX bankruptcy will be the most complex in U.S. history,”… Source link

NEW YORK (AP) — Collapsed cryptocurrency trading firm FTX confirmed there was “unauthorized access” to its accounts, hours after the company filed for Chapter 11 bankruptcy protection Friday. The embattled company’s new CEO John Ray III said Saturday that FTX is switching off the ability to trade or withdraw funds and taking steps to secure customers’ assets, according to a tweet by FTX’s general counsel Ryne Miller. FTX is also coordinating with law enforcement and regulators,… Source link

FTX on Thursday said it will open a Tron credit facility to allow holders of TRX, BTT, JST, SUN, and HT to remove their assets from the platform. “As part of this agreement, we will be disabling Tron deposits for all users during this period. The only deposits will be the pre-announced deposits conducted weekly by the Tron Team. Initially, $13,000,000 of assets will be deployed to facilitate such swaps,” the exchange said. The development comes after founder of the Tron cryptocurrency network,… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Thursday, November 10, 2022 Today’s newsletter is by Jared Blikre, a reporter focused on the markets on Yahoo Finance. Follow him on Twitter @SPYJared. Read this and more market news on the go with Yahoo Finance App. Cryptocurrency crashed on Wednesday, with most coins and tokens plummeting to multi-year lows. Bitcoin has lost one quarter of its… Source link

Cryptocurrencies plunged Tuesday as investors digested an emergency deal struck for an undisclosed sum between major crypto exchanges Binance and FTX. Bitcoin (BTC-USD) tumbled 13% over the last 24 hours from $19,800 to a period low of $17,603, the largest one-day drop since June. It has since recovered above $18,600 per coin. The second largest cryptocurrency, ether (ETH-USD) sold off by 15% on the day from $1,468 to $1,318. FTX’s exchange token FTT, fell by as much as 84% on the day from… Source link