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The Latest Breaking News from FTX

Coinbase lays off around 20% of its workforce as crypto downturn continues

This latest round of job cuts, around 950, comes after the company laid off about 1,100 people back in June.

WEKU

FTX Collapse: Dispute Between Billionaires Winklevoss, Silbert Escalates

The bankruptcy of the cryptocurrency exchange FTX has reverberated through the crypto space.

The Street

Coinbase Confirms End of Era of Insolent Growth in Crypto

Cryptocurrency exchange to cut nearly 1,000 additional jobs and record significant charges.

The Street

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Sam Bankman-Fried Fights To Keep Control Of $450M In Robinhood Shares As Creditors Circle

FTX founder Sam Bankman-Fried is facing legal battles as he attempted to keep control of his 56 million shares in the consumer trading app Robinhood Markets Inc (NASDAQ: HOOD), currently worth around $450 million

Zenger

Bitcoin or gold? Beware the ‘malignant tumor,’ says ‘Black Swan’ guru Nassim Nicholas Taleb

"Technology comes and goes, gold stays, at least physically. Once neglected for a brief period, Bitcoin would necessarily collapse.”

Fortune

FTX Collapse: Barry Silbert's Crypto Empire Is In the Crosshairs of Regulators

Digital Currency Group, the head of Barry Silbert's crypto empire, is under DoJ and SEC investigations, according to Bloomberg News.

The Street

'The money is gone': Bahamas tries to turn page after FTX

At a recent celebration of Christmas in the Bahamas, Bishop Lawrence Rolle sang about a half dozen songs, mostly Afro-Caribbean gospel songs

The Independent UK

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AP News Digest 8:15 a.m.

Here are the AP’s latest coverage plans, top stories and promotable content. All times EST. For up-to-the minute information on AP’s coverage, visit Coverage Plan at https://newsroom.ap.org.

The Independent UK

FTX Collapse: Bankman-Fried Breaks His Silence to Defend His Image

The disgraced crypto king was released on bail on Dec. 21. He will stand trial in October.

The Street

Crypto Exchange Huobi Has Bad News

The platform, which is headquartered in the Seychelles, is one of the latest victims of the crisis affecting the sector for a year.

The Street

McCarthy Took $2 Million From FTX Crypto Scam Co-Founder

He hasn't said what he intends to do about the money, while other Republicans have turned FTX funds over to the U.S. Treasury.

Zenger

China optimism lifts Asian equities

RECAP: Asian equities advanced on Friday amid hopes for China's emergence from the pandemic and an economic lift from renewed travel from the mainland.

Bangkok Post

Sam Bankman-Fried's lawyers just filed a claim to keep his $450 million in Robinhood shares, arguing he needs them for legal fees

The disgraced crypto founder, once worth $26.5 billion, said he only has $100,000 in his bank account.

Fortune

Crypto Twitter, mainstream media, and who really exposed FTX

The Washington Post suggests pseudonymous Twitter accounts and Substack writers had an outsize role in exposing FTX.

Fortune

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The Street

FTX Collapse May Claim Another Big Victim: Crypto Lender Genesis

The crypto lender is on the verge of bankruptcy, according to the Wall Street Journal.

Fortune

Kathleen Breitman of Tezos on 5 crypto trends that need to die—and 1 big reason for optimism

The downturn of 2022 culled many projects with shaky fundamentals—or that were outright frauds—but 2023 is the year that can reward honest actors in the space.

The Street

Mark Cuban Warns of Potential New Crypto Scandal and Fraud

The billionaire investor tells TheStreet that a new scandal will soon rock the cryptocurrency industry.

The Guardian - UK

Silvergate forced to cover $8bn worth of crypto-related withdrawals

The US bank was forced to sell $5.2bn worth of assets for cash and booked a loss of $718m on those sales

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Investors Business Daily

Silvergate Capital Dives On Crypto Exodus, Fed Seizures

Silvergate Capital reported more than $8 billion in crypto-asset withdrawals in the fourth quarter; Feds move to seize assets.

The Street

Silvergate Stock Plummets as FTX Collapse Triggers $8.1B in Customer Withdrawals

"The digital asset industry has undergone a transformational shift, with significant over-leverage in the industry leading to several high-profile bankruptcies," Silvergate said.

AAP

Aussies stung for millions in crypto crash

The FTX collapse wiped many crypto wallets and took out smaller exchanges, but administrators for Aussie platform Digital Surge are working on a rescue plan.

Tribune News Service

After a year of collapses, cryptocurrency’s future in the balance

WASHINGTON — Spectacular cryptocurrency failures in 2022 have raised the stakes for the industry amid questions about the enduring viability of a technology that advocates say has the potential to revolutionize finance.

Fortune

Crypto took such a beating in 2022 that U.S. regulators have teamed up for the first time to sound the alarm to banks

Deutsche Bank, Wells Fargo, Citigroup and Bank of America have all invested in crypto staffing divisions in recent years.

Roll Call

After a year of collapses, cryptocurrency’s future in the balance - Roll Call

The cryptocurrency industry's failures in 2023 could mean its demise or a chance to regroup and build on its cultural reach.

The Street

FTX Collapse: Sam Bankman-Fried Will Stand Trial in October

The former crypto king has pleaded not guilty to criminal fraud allegations leveled against him by federal prosecutors.

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