Sam Bankman-Fried, the founder of collapsed cryptocurrency exchange FTX, was found guilty of fraud charges Thursday, according to The Washington Post. Bankman-Fried was charged with conspiracy to commit wire fraud, securities fraud, money laundering, and violations of campaign finance law in December 2022. The 30-year-old allegedly defrauded millions of investors …
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The collapse of Sam Bankman-Fried’s $40 billion crypto empire shocked the world with its speed and scale. In mere days, the company he founded, FTX, fell from its perch as a top cryptocurrency exchange and filed for Chapter 11 bankruptcy. Customers who deposited funds on FTX — sometimes their life …
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The inside of the $40 million Bahamas penthouse where Sam Bankman-Fried lived was like a cross between a luxury dorm room and a jury-rigged trading floor. The curved marble living room was rimmed with computer desks, each supporting various configurations of conjoined monitors. Kitschy beach-themed decor lined the built-in display …
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A team of researchers have crunched the numbers to explain why you don’t see people hawking ugly cartoon apes on the internet as much anymore: NFTs, or non-fungible tokens, once vaunted as a revolution in crypto and digital art, are largely worthless. “Dead NFTs: The Evolving Landscape of the NFT …
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In the summer of 2021, I stumbled onto the world cryptocurrency by accident. A friend of mine encouraged me to buy some Bitcoin at the height of the mania, and to be honest, I was tempted. According to media reports, a lot of knuckleheads seemed to be getting rich off …
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The Securities and Exchange Commission filed suit on Monday against global giant Binance, the largest cryptocurrency exchange in the world. A second lawsuit came the very next day against Coinbase, the largest exchange based in the United States. After years of regulatory turf wars over an industry widely seen as …
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The Securities and Exchange Commission’s crypto crackdown continued Tuesday, with the financial regulator bringing new charges against another major cryptocurrency exchange, Coinbase. The new complaint alleges that, since at least 2019, Coinbase has served as a securities exchange, broker, and clearing agency but never registered as such with the SEC. …
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The Securities and Exchange Commission ramped up the pressure on Binance, bringing 13 charges against the world’s largest cryptocurrency exchange and its founder/CEO Changpeng “CZ” Zhao. Accusing Binance of misleading customers and misusing funds, the SEC said the company was able to control customer assets and move them around as …
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T here was a moment, late last fall, when Changpeng Zhao seemed like the smartest guy in crypto. The news was sudden and definitive: Binance, Zhao’s international trading post, announced plans to buy its biggest rival, FTX, led by the young American Sam Bankman-Fried, or SBF. It looked like a …
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Cryptocurrency mining is wreaking havoc on America’s efforts to take on the climate crisis. President Biden wants to crack down. The White House announced on Tuesday that the president’s proposed 2024 budget includes the Digital Asset Mining Energy (DAME) tax, which would tax crypto firms at 30 percent of the …
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