The Latest Breaking News from FTX

Stocks rose for a second day after their biggest gain in two-and-a-half years Friday as traders pare bets on big Fed rate hikes and China eases a portion of its strict Covid policies.

The crypto industry has been shaken by an unprecedented crisis, which has struck down one of the most influential players.

Mercedes has suspended its Formula 1 sponsorship deal with crisis-hit crypto exchange FTX, meaning the company’s logos will be removed from the team's cars from the Brazilian Grand Prix.

SBF’s entities had their hands in everything, from stablecoin issuer Circle to investment firm SkyBridge Capital. What happens to those now?

There is nothing much holding crypto up except the belief it eventually will go higher.

Stock futures extend gains on rate bets, China Covid easing; FTX woes deepen as crypto exchange warns on us operations; Musk says can't rule out Twitter bankruptcy as more execs depart; TuSimple shares slump as former CEO returns to helm and Intel slides as JPMorgan resumes coverage with 'underweight' rating.

Founder Sam Bankman-Fried races to find funds to fill multibillion-dollar hole in exchange

Not long ago, FTX was one of the world’s largest trading platforms for cryptocurrencies. Founded in 2019, the Bahamas-based crypto exchange had a meteoric rise to prominence, and was valued at more than US$30 billion earlier this year.

The financial watchdog is speaking to FTX’s Australian arms about what the sudden downfall of one of the world’s most valuable cryptocurrency companies means for its local operations.

Major coins regained buoyancy late on Thursday, after crashing a day prior, in wake of soft economic data released. The global cryptocurrency market cap shot up 8.85% to $880 billion at 8:41 p.m. EST. 

‘Sensational’ reporting by News Corp and 2GB should be considered as additional punishment when deciding sentence, judge says. Plus: the AFR’s kiss of death