The Latest Breaking News from Binance

The 30-year-old wunderkind last week saw his giant FTX digital currency exchange collapse and his $17bn fortune disappear

Sam Bankman-Fried's cryptocurrency empire collapsed this week. His $16bn personal fortune was incinerated in a matter of days (another rousing win for the normative determinists). Not bad for a 30-year-old.

Several days ago, FTX co-founder Sam Bankman Fried saw his wealth plummet by over 90% to a value of $1 billion.

Australians who invested in the FTX cryptocurrency exchange are unable to withdraw their funds as the company's local arm goes into voluntary administration.

Binance CEO Changpeng Zhao on Friday came down heavily on a report the cryptocurrency exchange holds $74.6 billion in tokens, out of which nearly 40% are its own stablecoin

Cryptocurrency exchange run by Changpeng Zhao pulled out of deal to rescue its rival

The trading platform had been struggling to raise billions in funds to stave off collapse after a wave of withdrawals.

Crypto assets are infamous for being highly speculative and volatile, but it is their “debt problems” that have once again made headlines. Since November 2021, the total value of cryptocurrencies has now fallen from a peak of over US$3 trillion (£2.6 trillion) to circa US$830 billion (£706 billion).

Ontario Teachers' Pension Plan, Canada's third-largest pension fund, was also an investor in FTX, the popular cryptocurrency exchange that filed for bankruptcy on Friday. The pension fund invested $75 million in FTX International and its U.S. entity, FTX.US, in October ...