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Evan Luthra, an app developer, entrepreneur and angel investor, told CNBC he lost $2 million dollars in the collapse of FTX. Jake Thacker, an FTX customer in Portland, Oregon, told CNBC he lost hundreds of thousands of dollars shortly after losing his job in the tech industry. "I was like, oh my goodness, there's all these big name people utilizing FTX," Kannegundla said. Bhagamshi Kannegundla, an FTX customer, told CNBC he sold his bankruptcy claim to reinvest in crypto. Years later, if the FTX bankruptcy process recovers more than the 11 cents on the dollar for his claim, the buyer pockets the difference.

Persons: FTX's, hasn't, Evan Luthra, Luthra, FTX, Bitcoin, everybody's, Sam Bankman, He's, Fatih Aktas, Jake Thacker, Thacker, I'm, CNBC Thacker, Bhagamshi Kannegundla, Larry David, Kannegundla, Bhagamshi, Sunil Kavuri, Kavuri, Brett Harrison, Harrison, he's, Anthony Scaramucci, didn't Organizations: CNBC, Manhattan Federal, Anadolu Agency, Getty, Sequoia, Nurphoto, FTX's, FTX, Financial Technologies, Skybridge Locations: Miami, Manhattan, New York, United States, Portland , Oregon, FTX's, Bahamas, U.S, cryptocurrencies

☆ Former FTX U.S. president Brett Harrison explains new venture focused on investment tools
▼ + stars: | 2023-09-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer FTX U.S. president Brett Harrison explains new venture focused on investment toolsCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Brett Harrison, former FTX U.S. president and CEO of Architect, explains the new company's focus on investment tools for digital assets and traditional markets.

Persons: Brett Harrison, explainers Organizations: Former FTX U.S, CNBC

☆ MicroStrategy buys $147.3 million in bitcoin, bringing total held to $4.68 billion: CNBC Crypto World
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicroStrategy buys $147.3 million in bitcoin, bringing total held to $4.68 billion: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Brett Harrison, former FTX U.S. president and CEO of Architect, explains the new company's focus on investment tools for digital assets and traditional markets.

Persons: explainers, Brett Harrison Organizations: CNBC Crypto, CNBC Locations: bitcoin

☆ 'He lied to us about what he was doing and who he was': Anthony Scaramucci reflects on the top 3 lessons he wants all investors to learn from his experience with Sam Bankman-Fried.
▼ + stars: | 2023-05-19 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

Anthony Scaramucci's investment firm SkyBridge Capital had a rough run in 2022 after being burned by the collapse of the bankrupt crypto exchange FTX. Scaramucci told Insider that the amount of leverage in the system and the tax-loss selling in December depressed their overall performance. Still, there are spillover effects — and lessons — from last year's debacle with FTX that Scaramucci and SkyBridge are working through. Lessons learned from the FTX debacleLast year, Sam Bankman-Fried through FTX, the crypto exchange he founded, bought 30% of SkyBridge for $45 million. And finally, as the majority shareholder of the firm, Scaramucci holds the right of refusal to reject any transfer of the shares.

☆ From threatening skeptical execs to approving expenses with emojis, here are the 6 most damning claims from FTX's first debtors report
▼ + stars: | 2023-04-10 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +7 min

Sam Bankman-Fried threatened FTX employees who voiced concerns about its business practices. The report, which is 45 pages long, compiled interviews of 19 former FTX employees and "received substantial information through counsel" for five others. 1) SBF threatened FTX execsMultiple FTX execs were threatened after voicing concerns over the company's business practices. As a result, the report says: "Senior FTX Group personnel scrambled to cobble together purported policies that could be shown to auditors. One former executive described Singh's and Wang's oversight on FTX Group as: "If Nishad [and Gary] got hit by a bus, the whole company would be done."

☆ The former FTX US president just raised money from Anthony Scaramucci and Coinbase Ventures for his new crypto startup
▼ + stars: | 2023-01-20 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +4 min

Former FTX US president Brett Harrison started a new crypto infrastructure trading startup called Architect. The firm raised $5 million in a pre-product financing round, with backing from Coinbase Ventures. After nearly four months since stepping down as president of FTX US, Brett Harrison has raised $5 million for his new crypto trading infrastructure startup. The company, called Architect, is building software that aims to make trading in crypto markets easier for large investors and institutions. He served as FTX US president for 17 months before he stepped down in late September of 2022.

☆ Anthony Scaramucci compared Sam Bankman-Fried to Bernie Madoff, and alluded to Dante's 'Inferno' as he discussed the FTX founder's downfall
▼ + stars: | 2023-01-17 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Anthony Scaramucci spoke about his relationship with Sam Bankman-Fried at a Davos crypto panel. Scaramucci alluded to the circles of hell in Dante's "Divine Comedy" and compared SBF to Bernie Madoff. FTX bought 30% of SkyBridge Capital for $45 million in September 2022. The Financial Times reported that SkyBridge Capital also bought $10 million of FTX's cryptocurrency, FTT, as part of the deal's requirements. "I made a mistake being involved with Sam," Scaramucci said.

☆ A leaked Google memo compared it to slime mold
▼ + stars: | 2023-01-17 | by ( Jake Swearingen | ) www.businessinsider.com time to read: +5 min

It's like the start of a joke: What do Google and slime mold have in common? A lot, says a memo from an ex-Googler comparing the org to a "slime mold." (A key difference: Stanford grads aren't desperate to intern at a slime mold.) But with ChatGPT setting off alarm bells inside and outside the org, Google should probably move faster and with more intention than slime mold. The most memorable part of the memo compares Google's bottom-up organizational structure to a "slime mold," highlighting how both Google and a slime mold can work independently but still come together to solve complex problems.

☆ The Davos elite likes to make bold predictions. But they don't always get them right
▼ + stars: | 2023-01-13 | by ( Silvia Amaro | ) www.cnbc.com time to read: +4 min

George Soros, billionaire and founder of Soros Fund Management, at the World Economic Forum in Davos, Switzerland, in Jan. 2016. It's an annual meeting where a global elite of business leaders, politicians and economists make bold predictions and try to set the agenda for the year ahead — but they don't always get it right. Nuclear warBillionaire investor George Soros warned during a speech at Davos in 2018 that the United States could be heading for a nuclear war with North Korea. "The United States is set on a course towards nuclear war by refusing to accept that [North] Korea has become a nuclear power," he said at the time. So far, the United States has avoided any military conflict with North Korea.

☆ Sam Bankman-Fried is reportedly such a huge Taylor Swift fan that he pushed for FTX to sponsor her tour in a $100 million deal that almost happened
▼ + stars: | 2022-12-07 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried wanted his now-bankrupt cryptocurrency exchange to sponsor a Taylor Swift tour. FTX was close to negotiating an over $100 million deal, but talks between teams ended in the spring. Part of the sponsorship deal included offering tickets as non-fungible tokens, or NFTs, from Swift, people familiar with the matter told the FT. "The discussion was around a potential tour sponsorship that did not happen." While scrapping the deal proved to be good karma for Swift, Bankman-Fried is continuing his run as the crypto-world's largest anti-hero at the moment.

☆ Banker bonuses are set to be so bad even the firm's revenue drivers are going to get dinged
▼ + stars: | 2022-12-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

A man pauses outside of the New York Stock Exchange (NYSE) on January 15, 2016 in New York City. While they aren't internally announced and paid until early next year, firms are wrapping up discussions about the size of bonus pools that divisions will be able to disperse from. And for many firms, the pools are being resized from Olympic to kiddie. The Financial Times reported Friday that JPMorgan Chase, Citigroup, and Bank of America are considering cutting bonus pools within M&A and IPO teams by 30%. More on how crypto firms are hoping ads can quell trust concerns.

The answer is simple, according to more than a dozen Washington insiders, FTX employees, and crypto industry observers who spoke with Insider. I don't think anyone believed that he was going to fund candidates who were, quote unquote, committed to ending pandemics who were also hostile to the crypto industry." Alex Wong/Getty ImagesRebuffed by the SEC, Bankman-Fried turned his attention to Congress. "It's not that he was welcoming regulation," says the senior figure in the crypto industry who attended meetings with Bankman-Fried. But while Bankman-Fried was busy wooing Washington, FTX was about to become Exhibit A in the case for more effective oversight of the crypto industry.

☆ FTX's former US president is reportedly raising money for a new crypto startup after the crypto exchange's collapse
▼ + stars: | 2022-12-03 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

Brett Harrison, FTX US's former president, is reportedly raising money for a new crypto startup. Harrison left FTX just weeks before it slid into bankruptcy amid allegations of misused customer funds. Harrison's attempt to raise money comes when many investors are weary of wading deeper into the crypto industry. Before working at FTX, Harrison worked at traditional trading firms, including Jane Street, where he once worked with Bankman-Fried, according to the report. Harrison's attempt to raise money for a crypto startup comes when many prominent investors have grown weary of wading deeper into the industry.

☆ Former FTX exec in talks with investors for new crypto startup - The Information
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

Dec 2 (Reuters) - Brett Harrison, the former president of collapsed crypto exchange FTX's U.S. arm, is trying to raise money for a new crypto startup, the Information reported on Friday, citing two people with knowledge of the matter. Harrison has told at least one venture capital firm he is aiming to raise $6 million at a valuation of $60 million for a firm focused on crypto trading software for big investors, the report added. This comes weeks after FTX filed for U.S. bankruptcy protection and its founder Sam Bankman-Fried resigned as chief executive, after rival exchange Binance walked away from a proposed acquisition. The collapse has rippled across the industry hobbling liquidity at other major players including crypto lenders BlockFi and Genesis. Many firms have since been bracing for a fallout as a sell-off in digital assets deepens and venture investors lose appetite for crypto firms.

☆ An FTX customer who lost $750,000 during its collapse has filed a lawsuit against the Golden State Warriors, which had FTX as its 'official cryptocurrency platform'
▼ + stars: | 2022-11-22 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The Golden State Warriors named FTX as an "official cryptocurrency platform" last December. Elliott Lam accuses the Warriors of falsely promoting FTX as a "viable and safe way to invest in crypto." The Warriors are also defending a lawsuit in Miami, filed by American FTX customers. FTX filed for bankruptcy on November 11, having previously been worth $32 billion. Getty/Ezra ShawThe Warriors named FTX its "official cryptocurrency platform and NFT marketplace" last December, in a first-of-its-kind partnership which also saw FTX's logo printed on the Warriors' home court.

☆ FTX President Brett Harrison steps down
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +2 min

Sept 27 (Reuters) - Brett Harrison, president of FTX US, is stepping down from his role but will stay on in an advisory capacity at the cryptocurrency exchange, he wrote in a series of tweets on Tuesday. Harrison's decision comes a month after one of his now-deleted tweets caught the ire of the Federal Deposit Insurance Corporation (FDIC). read moreRegister now for FREE unlimited access to Reuters.com RegisterIn response, chief executive officer Sam Bankman-Fried emphasized FTX is not FDIC-insured, and apologized if anyone misinterpreted previous comments. The cryptocurrency sector has been crippled due to an industry wide sell-off after the collapse of major tokens terraUSD and luna. Register now for FREE unlimited access to Reuters.com RegisterReporting by Mehnaz Yasmin in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Crypto exchange FTX is replacing its U.S. president
▼ + stars: | 2022-09-27 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Brett Harrison, the U.S. president of the crypto exchange FTX, announced his resignation on Tuesday, with the company in the midst of a massive expansion effort. "I have deep gratitude for my experiences at FTX in the last year and a half," he wrote in a tweet. Harrison joined FTX, whose parent company is based in the Bahamas, in May 2021 after spending close to two years at Citadel Securities. In addition to Voyager Digital, FTX has been seeking out distressed crypto assets in the U.S. as it tries to expand its market share during the so-called crypto winter. "We really didn't mean to mislead anyone, and we didn't suggest that FTX US itself, or that crypto/non-fiat assets, benefit from FDIC insurance," Harrison wrote on Twitter at the time.

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