#COLLAPSE News

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Will Binance Coin (BNB) Follow FTX Token (FTT) and Become the Next Crypto to Collapse?

beincrypto.com Crypto Twitter gossip has been in overdrive lately with speculation on the future of Binance Coin (BNB). But are the concerns justified? Is BNB the next FTX? The…

Bitcoin Set for More Losses in Wake of FTX's Collapse if History Is a Guide

bloomberg.com Bitcoin Set for More Losses in Wake of FTX's Collapse if History Is a Guide Bloomberg

4 Years in Prison for a Leader of the $100m Ponzi Scam ‘EmpiresX’ By DailyCoin

investing.com Joshua Nichols, the alleged ‘head trader’ for EmpiresX, has been sentenced to 51 months in prison following his guilty plea on September 8th. Nichols and his…

Bankman-Fried Affirms that FTX.US Will Open Withdrawals This Month By CoinEdition

investing.com Sam Bankman-Fried, the former CEO of the bankrupt FTX crypto exchange, has appeared before the public at the DealBook Summit in New York for the first time since FTX’s…

MATIC Outperforms Top Cryptos: Only Token To Rise Since October?

watcher.guru FTX’s collapse materialized into an industry-wide catastrophe. Most firms associated with it, both, directly and indirectly, felt the pinch. Parallelly, the exchange’s…

Hedge Fund Manager Mark Yusko Warns of Two Shock Waves That Could Kill Crypto

beincrypto.com Mark Yusko, a renowned hedge fund manager, gave his take on whether the FTX collapse will speed up or slow down the crypto bear market. In a recent interview, Yusko focused…

FTX blowout puts CFTC head in crosshairs on Capitol Hill

foxbusiness.com The collapse of cryptocurrency trading platform FTX has put a spotlight on Rostin Behnam, the chairman of the Commodity Futures Trading Commission (CFTC), a little-known…

FTX founder Sam Bankman-Fried says he ‘screwed up’ but didn’t commit fraud

theguardian.com “Look, I screwed up,” fallen crypto billionaire Sam Bankman-Fried told a conference in New York on Wednesday, but he maintained he “didn’t ever try to commit fraud” and was…

Telegram To Build Decentralized Exchange, Crypto Wallets

cryptodaily.co.uk Messaging app Telegram has announced plans to build a decentralized exchange and non-custodial wallets in the wake of the FTX collapse. Telegram founder and CEO Pavel Durov…

Sam Bankman-Fried to New York Times: "I Wasn't Running Alameda"

cryptobriefing.com Sam Bankman-Fried to New York Times: "I Wasn't Running Alameda" The former FTX CEO admitted to oversight but distanced himself from FTX's sister firm. Key Takeaways - Sam…

U.S. CFTC chair to be questioned over FTX collapse by lawmakers By Reuters

investing.com By Hannah Lang (Reuters) - A leading U.S. financial regulator is set to be grilled by lawmakers on Thursday about the spectacular collapse of cryptocurrency exchange FTX and…

Stablecoins Show Signs of Stabilizing After FTX Storm

thedefiant.io Just as stablecoins were becoming, well, stable again after the $60B collapse of the Terra ecosystem in May, the FTX disaster struck and pegged tokens have been whipsawed…

Genesis Halts Withdrawals At Lending Business

thedefiant.io Users Of Gemini Earn Unable to Withdraw Assets as FTX Contagion Spreads Genesis Global Capital, the lending arm of leading digital asset brokerage Genesis Trading, announced…

DeFi Wins From FTX Collapse (kind of)

thedefiant.io Decentralized finance is having a moment, with trade volume and number of users up big since FTX’s collapse. But the purists in the crypto industry might want to wait before…

Senators Demand Investigation Into FTX

cryptobriefing.com Senators Demand Investigation Into FTX Senators Warren and Whitehouse have asked the DOJ to take action. Key Takeaways - Senators Elizabeth Warren and Sheldon Whitehouse…

Crypto Villains Chime In as SBF’s Empire Collapses. Nobody Wants to Hear It

cryptobriefing.com Crypto Villains Chime In as SBF’s Empire Collapses. Nobody Wants to Hear It Four of crypto's biggest villains are struggling to read the room. Key Takeaways - Su Zhu, Do…

U.S. CFTC chair to be questioned over FTX collapse by lawmakers

reuters.com Dec 1 (Reuters) - A leading U.S. financial regulator is set to be grilled by lawmakers on Thursday about the spectacular collapse of cryptocurrency exchange FTX and whether…

Crypto Still Relevant for the Future Post FTX: BlackRock CEO

watcher.guru BlackRock CEO Larry Fink said that crypto technology is still relevant for the future, despite the FTX collapse. The chief of the world’s largest asset manager said that…

U.S. crypto exchange Kraken to lay off 30% of its workforce, cites ‘market conditions’

forkast.news U.S.-based crypto exchange Kraken will lay off 30% of its global workforce, or approximately 1,100 people, to “adapt to current market conditions,” according to a company…

FTX Has Spurred a ‘Mass Exodus’ in Crypto. Some May Ditch Bitcoin Forever

barrons.com The crisis at now-bankrupt cryptocurrency exchange FTX and an ensuing meltdown in digital asset prices have spurred a “mass exodus” as nervous customers withdraw crypto from…

New Crypto Regulations Might Not Be Needed According to Fed Governor

beincrypto.com U.S. policymakers have been scrambling to develop a regulatory framework for crypto to protect the financial system. However, Fed governor Lisa Cook thinks that new…

Telegram plans decentralized crypto exchange, wallets following FTX collapse

forkast.news Social media site Telegram Messenger LLP plans to build non-custodial wallets and a decentralized exchange for cryptocurrencies following the collapse of the FTX platform,…

BlockFi Sues for Sam Bankman-Fried's Robinhood Shares

wsj.com Cryptocurrency lender BlockFi, which filed for bankruptcy Monday, is suing for Sam Bankman-Fried’s Robinhood shares. BlockFi filed a lawsuit against Emergent Fidelity…

US Treasury’s Yellen Says Crypto Doesn’t Have Adequate Regulation

bitcoin.com U.S. Treasury Secretary Janet Yellen says that the collapse of crypto exchange FTX shows that the crypto industry “really needs to have adequate regulation.” She added:…

Sam Bankman-Fried said he doesn't think he's criminally liable for FTX's implosion, but that his lawyers don't want him speaking publicly

businessinsider.com Sam Bankman-Fried, founder of FTX and Alameda Research FTX Sam Bankman-Fried said he doesn't think he is criminally liable for FTX's collapse. Under his leadership, the…

Sam Bankman-Fried Blames ‘Huge Management Failures’ for FTX Collapse

nytimes.com Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange, made his first public appearance on Wednesday since his business empire imploded this month, insisting…

Sam Bankman-Fried, Offering Little Clarity, Says ‘I’ve Had A Bad Month’

forbes.com Sam Bankman-Fried had little to add more than he was sorry, and that he should have done better, in his first public appearance since his FTX cryptocurrency exchange filed…

Genesis Creditors Onboard Restructuring Lawyers, Exploring Ways to Avert Bankruptcy

cryptopotato.com For several companies in the crypto sector, 2022 marked the end of the line. A few seemingly vanished overnight. But Genesis’ creditors are making desperate calls to save…

Sam Bankman-Fried Continues to Speak About FTX Despite Lawyer’s Advice

nytimes.com Ignoring Legal Advice, Sam Bankman-Fried Speaks on FTX The fallen founder of the cryptocurrency empire said it was his “duty” to talk about the exchange’s collapse. Why…

FTX founder faces questions about crypto exchange's collapse

foxbusiness.com In his first live appearance since the spectacular collapse of FTX, founder Sam Bankman-Fried took questions at the DealBook Summit on Wednesday regarding the collapse of…

Former FTX CEO Sam Bankman-Fried: 'I Didn’t Knowingly Commingle Funds'

coindesk.com The collapse of Sam Bankman-Fried’s FTX empire left customers with missing funds and unresolved questions. But Bankman-Fried’s highly-anticipated Wednesday interview with…

‘Look, I Screwed Up’: Sam Bankman-Fried Is Challenged on the Collapse of FTX

nytimes.com Sam Bankman-Fried, the cryptocurrency billionaire whose empire collapsed spectacularly this month and spawned at least two federal investigations, sat for a wide-ranging…

What Is The Relationship Between Almeda Research and FTX?

nytimes.com FTX’s Sister Firm, Alameda Research, Was Central to Collapse The relationship between Alameda and FTX — and how the two propped each other up — is coming under scrutiny as…

'I did not ever try to commit fraud': SBF defends his actions and distances himself from Alameda in first live interview since FTX's collapse

fortune.com ‘I did not ever try to commit fraud’: SBF defends his actions and distances himself from Alameda in first live interview since FTX’s collapse Sam Bankman-Fried, or SBF,…

FTX, Bankman-Fried Will Face Congressional Hearing in December

cryptobriefing.com FTX, Bankman-Fried Will Face Congressional Hearing in December The U.S. House Financial Services Committee will hear testimony from FTX, Alameda Research, Binance, and…

FTX founder Sam Bankman-Fried is grilled publicly for the first time

dailymail.co.uk 'I didn't try to commit fraud': Visibly nervous FTX founder Sam Bankman-Fried speaks publicly for FIRST time since $32B crypto exchange filed for bankruptcy - Disgraced FTX…

SBF at Dealbook Summit: 'I Didn’t Knowingly Commingle Funds'

decrypt.co As the collapse of FTX continues to cast a shadow over much of crypto, former Chief Executive Sam Bankman-Fried stepped into the media spotlight. The befallen crypto tycoon…

FTX proves MiCA should be passed fast, officials tell European Parliament committee By Cointelegraph

investing.com The European Parliament Economic and Monetary Affairs Committee held a hearing on the "FTX cryptocurrency exchange collapse and implications for the EU" on Nov. 30. Three…

Bitcoin trades over $17,000 following Powell's speech, December decisions loom large

theblock.co The Fed is likely to slow its rate increases in December, while upcoming inflation data and the first U.S. House committee hearing on the FTX collapse also loom large for…

‘I Didn’t Ever Try To Commit Fraud’: Sam Bankman-Fried Responds To FTX Collapse In New Interview

forbes.com Topline Former FTX CEO Sam Bankman-Fried claimed in a live New York Times interview Wednesday the collapse of his cryptocurrency exchange was driven by numerous mistakes on…

Sen. Sherrod Brown Urges Janet Yellen To Develop Legislation To Regulate Crypto Industry Following FTX Implosion

forbes.com Topline Sen. Sherrod Brown (D-Ohio) made a plea to the Treasury Department on Wednesday to draft legislation that would set up surveillance and regulatory measures over the…

Here’s everything that went wrong with FTX

theverge.com FTX’s sudden and catastrophic collapse sent reverberations throughout the entire cryptocurrency industry. What was once the third-largest cryptocurrency exchange is now in a…

Centralized Exchanges Will Continue to Dominate Crypto, JPMorgan Says By DailyCoin

investing.com FTX’s collapse shocked the crypto world. However, many voices within the industry saw the collapse of the centralized crypto exchange as a new opportunity for DeFi…

FTX proves MiCA should be passed fast, officials tell European Parliament committee

cointelegraph.com The European Parliament Economic and Monetary Affairs Committee held a hearing on "FTX cryptocurrency exchange collapse and implications for the EU" Nov. 30. Three European…

“Nothing to do With the Collapse” Terra-Luna Co-Founder Daniel Shin After Prosecution Seeking his Arrest Warrant By DailyCoin

investing.com The South Korean investigators have approached the court to seek an arrest warrant for Terraform Labs co-founder Daniel Shin, along with seven other engineers and investors…

Russia Counters That US "Lack Of Desire" Behind Collapse Of New START Talks

zerohedge.com Russia Counters That US "Lack Of Desire" Behind Collapse Of New START Talks Russia has rejected White House accusations that Moscow is to blame for the collapse of the…

Telegram founder wants to build new decentralized tools to combat power abuse By Cointelegraph

investing.com Telegram is set to build a set of decentralized tools, including noncustodial wallets and decentralized exchanges, said founder Pavel Durov via his Telegram channel on Nov.…

FTX Collapse Validates SEC Chair Gary Gensler's Crypto Skepticism

bloomberg.com FTX Collapse Validates SEC Chair Gary Gensler's Crypto Skepticism Bloomberg

Former FBI agents weigh in on FTX investigation, Sam Bankman-Fried's possible extradition

foxbusiness.com EXCLUSIVE: Former FBI agents who specialized in financial crimes and organized crime said federal investigators are likely in a "full court press" probing the FTX collapse…

FTX's Collapse Will Hamper Mainstream Crypto Acceptance, NYSE's Martin Says

bloomberg.com FTX's Collapse Will Hamper Mainstream Crypto Acceptance, NYSE's Martin Says Bloomberg

Crypto Winter Chills Kraken, 30% Of Staff Gets Cut After 'Quick Scale Up'

benzinga.com Cryptocurrency exchange Kraken is sacking 1,100 employees, 30% of its workforce, in yet another sign of the prolonged crypto winter following the collapse of FTX FTT/USD.…

Bitcoin is on the 'road to irrelevance' and its last gasp was already on the horizon before FTX's collapse, ECB officials say

businessinsider.com Bitcoin rocket crash flying down graphic Getty Images Bitcoin was heading for a dead-end even before the collapse of Sam Bankman-Fried's FTX, ECB officials wrote Wednesday.…

FTX billionaire Sam Bankman-Fried funneled dark money to Republicans

theguardian.com The fall of crypto billionaire Sam Bankman-Fried has been painted as a large blow to the Democratic party, whose candidates were major beneficiaries of his largesse. But in…

Crypto Trader Auros Global Misses Payment on DeFi Loan As FTX Contagion Spreads

coindesk.com Auros Global, a crypto trading firm, is the latest to face liquidity problems following the FTX collapse as it missed payment Wednesday on a decentralized finance (DeFi)…

Crypto Exchange Kraken to Lay Off 1,100 as Industry Pain Deepens By Bloomberg

investing.com (Bloomberg) -- The crypto exchange Kraken is laying off 30% of its workforce, or about 1,100 people, as the fallout from this year’s digit-asset market meltdown worsens. The…

Bankman-Fried Says His Bank Account is Down to $100k, FTX’s Collapse was Preventable By DailyCoin

investing.com Former crypto billionaire, and founder of the infamous failed cryptocurrency exchange FTX, has revealed in his latest interview that his bank account holds only $100,000. In…

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