The Latest Breaking News from FTX

The founder of the bankrupt cryptocurrency exchange launched a media blitzkrieg to give his version of his downfall.

Stock futures lower as market weigh recession risk; Week Ahead: light calendar puts china, sentiment data in focus; Oil prices gain on china optimism; OPEC holds production levels; Tesla slides on reports of VE production cuts in China and Sam Bankman-Fried says he'll testify on FTX collapse before Congress.

Are crypto platforms adequately educating users about risk?

Company expects further significant drops in trade and ‘the potential for more black swan-type events’

FTX founder says he will testify when he has ‘finished learning and reviewing’ collapse of cryptocurrency exchange.

FTX founder Sam Bankman-Fried “steered clear of anything that sounded like intentional misconduct,” said U.S. securities lawyer James Murphy.

Swiftly rising interest rates have punctured the cryptocurrency bubble, exposing fragility, bad governance and even fraud in many corners, most notably at the crypto exchange FTX. And FTX's spectacular collapse comes on the heels of other recent failures in the cryptosphere, such as Terra-Luna, Three Arrows Capital or Voyager Digital.…

"I had a responsibility here and a responsibility to be on top of what was going on the exchange. I wish I had done much better at that."

Tech billionaires seem intent on giving away a lot of money. But are those who support ‘longtermism’ and ‘effective altruism’ ignoring the very real problems of today?

“There’s a very open and shut case for fraud,” said Armstrong, adding it’s “bizarrre” the media isn’t calling Bankman-Fried a “criminal.”

The crypto industry was already facing a trust deficit, and this has set it back far.