The Latest Breaking News from FTX

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.

SBF, as Bankman-Fried was often called, says he didn’t commit fraud. But bankruptcy specialists say the findings so far are ‘pretty devastating.’

FTX co-founder and former CEO Sam Bankman-Fried is now being labeled a criminal after coming under scrutiny amid bankruptcy.

RECAP: Asian shares were mixed yesterday as investors were heartened by the possible easing of Covid curbs in China, while they awaited job figures in the United States that could determine whether the Federal Reserve will start to moderate its interest-rate increases as widely expected.

By the time his bank account hit zero, the man who insisted he would one day be the "world's first trillionaire" had left only a trail of destruction in his wake.