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Search resuls for: "Elizabeth Napolitano"


3 mentions found


☆ Former FTX CEO Sam Bankman-Fried says he didn't 'try to commit fraud'
  + stars: | 2022-11-30 | by ( Elizabeth Napolitano | ) www.nbcnews.com   time to read: +5 min
A growing number of regulators are investigating Bankman-Fried and his former company, and the fallout from the collapse of FTX is only expanding. The broader industry consequences also continue to play out, with the crypto firm BlockFi filing for bankruptcy last week. Days after the CoinDesk report, FTX rival Binance announced it would sell its FTX holdings, setting off a bank-run-style rush of withdrawals. What matters here are the stakeholders in FTX," Bankman-Fried said. Bankman-Fried and his associates greenlighted lavish expenditures, including $300 million for real estate purchases in the Bahamas for FTX and Alameda employees, according to filings from current FTX attorneys.
☆ Sam Bankman-Fried and the FTX collapse, explained
  + stars: | 2022-11-18 | by ( Elizabeth Napolitano | Brian Cheung | Brian Cheung Is A Business | ) www.nbcnews.com   time to read: +9 min
Sam Bankman-Fried, FTX’s 30-year-old founder, became the face of the company and, to some, crypto at large. The first red flagsNot long after Bankman-Fried started FTX, crypto began to boom. Venture capital money flooded into all things blockchain and crypto, and crypto platforms moved to attract customers beyond the technologists and blockchain evangelists that once fueled its rise. These digital tokens use blockchain technology, in which computers contribute to a shared ledger that can be used to track digital assets. Graeme Sloan / Sipa USA via APThe Wall Street Journal and CNBC, also citing anonymous sources, reported that Alameda had used FTX funds for trading.
☆ In about-face, Crypto exchange Binance pulls out of FTX acquisition
  + stars: | 2022-11-10 | by ( Elizabeth Napolitano | ) www.nbcnews.com   time to read: +3 min
The crypto exchange Binance has pulled out of a deal to acquire rival digital currency company FTX just 24 hours after it announced the tentative agreement, the company said in a statement Wednesday on Twitter. Neither FTX nor the Securities and Exchange Commission immediately responded to inquiries about the deal or the reported investigation. “FTX going down is not good for anyone in the industry,” Zhao wrote. News of FTX’s insolvency has hit the platform and the wider crypto industry hard. The CoinDesk Market Index, a broad-based index of the digital asset market, is down by about 12% from last week.
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