FTX Investors Are Squeezed by US for Information on Firm and Bankman-Fried
US authorities are asking crypto investors and trading firms that worked closely with FTX to hand over information on the company and its key figures, including founder Sam Bankman-Fried and the former head of his Alameda Research investment arm, Caroline Ellison.
‘Black Swan’ Author Explains Why the Former FTX CEO ‘Needs To Be Behind Bars’
Nassim Nicholas Taleb, the best-selling author of “Black Swan” and “Antifragile” believes that Sam Bankerman-Fried (aka “SBF”), the disgraced co-founder and former CEO of bankrupt crypto exchange FTX, should be “behind bars” right now (rather than in his $30 million penthouse apartment in The Bahamas.
Coinbase CEO on ‘Stolen Customer Money’ Used by SBF’s Alameda Research
On Saturday (3 December 2022), Coinbase Co-Founder and CEO commented on the interview that Sam Bankerman-Fried (aka “SBF”), the disgraced co-founder of Alameda Research and co-founder and former CEO of bankrupt crypto exchange FTX, gave to Bloomberg recently at $30 million his Bahamian penthouse apartment.
SBF Said He Couldn’t Explain Why Billions of Customers Fund Were Sent to Alameda
NASSAU, Bahamas—FTX founder Sam Bankman-Fried said he couldn’t explain what happened to billions of dollars that customers of his<a href="https://www.wsj.com/articles/doj-watchdog-calls-for-independent-ftx-probe-in-bankruptcy-11669940711?page=1&mod=article_inline" target="_blank"> failed cryptocurrency exchange</a> sent to the <a href="https://www.wsj.com/articles/ftx-tapped-into-customer-accounts-to-fund-risky-bets-setting-up-its-downfall-11668093732?mod=article_inline" target="_blank">bank accounts of his trading firm</a>, Alameda Research.
Coinbase CEO: Nobody Should Believe Sam’s Claim That This Was an Accounting Error
Brian Armstrong (<a href="https://twitter.com/brian_armstrong/status/1599159873232842758">@brian_armstrong</a>) Co-founder & CEO at <a href="https://twitter.com/Coinbase">@Coinbase</a> on Twitter:" I don't care how messy your accounting is (or how rich you are) - you're definitely going to notice if you find an extra $8B to spend. Even the most gullible person should not believe Sam's claim that this was an accounting error. It's stolen customer money used in his hedge fund, plain and simple."
Maxine Waters Criticized for Praising SBF — Lawmaker Says ‘We Appreciate That You’ve Been Candid’
Congresswoman Maxine Waters has been heavily criticized for saying that she appreciates former FTX CEO Sam Bankman-Fried (SBF) being candid in his discussions about the collapse of his crypto exchange, FTX. “SBF has not, in fact, been candid in his discussions. He committed fraud, full stop,” one critic stressed.
SBF Admits Alameda Was Given Special Treatment on Accounts of FTX
SBF’s trading company Alameda Research was provided with oversized borrowing limits compared to other FTX clients.
HK Crypto Exchange AAX Has Lost Most Staff, Unlikely to Reopen, Says Former Executive
Hong Kong cryptocurrency exchange Atom Asset Exchange (AAX) has lost most of its staff to firings and resignations and is unlikely to resume operations after freezing assets on the platform on Nov. 13, former vice president and head of research Ben Caselin told Forkast News on Friday.
Survey Shows Expectation of Bitcoin’s Future Value at Low Following FTX Collapse
According to <a href="https://morningconsult.com/2022/11/22/what-consumers-think-about-the-future-of-bitcoin/">survey results</a> published by Morning Consult in the wake of FTX’s bankruptcy, US adults are expecting Bitcoin’s price to fall to $11,500 within the next six months. The price prediction represents a drop of close to $5,600 in expected price from just one month ago, and more than $15,500 from price predictions made at the beginning of 2022.
Miami Nightlife Reeling From Sudden FTX Collapse
Miami’s nightlife is being impacted by the collapse of crypto exchange FTX. The report claims that club owners in Miami have noticed the sudden absence of young crypto entrepreneurs, who used to be big spenders at their establishments.
