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The Latest Breaking News on FTX claims Bybit, one of world’s largest crypto exchanges, used VIP status to pull hundreds of millions of dollars during collapse

Crypto company that faces scrutiny from Texas regulators files for bankruptcy after competitor questioned its viability

FTX’s collapse came after customers raced to cash out their deposits when a major competitor questioned its viability and declined to buy the company in a bailout deal.

The Texas Tribune

Distressed crypto exchange FTX files for bankruptcy

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

Al Jazeera

FTX contagion will be ugly within crypto, but probably less damaging to the wider world

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).

The Conversation

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Cryptocurrency platform FTX goes bankrupt in US, boss resigns

New York (AFP) - Crisis-struck cryptocurrency platform FTX has gone bankrupt in the United States and its chief executive Sam Bankman-Fried has resigned, it said Friday, the latest blow in a saga that has reverberated across the digital currency landscape.

AFP

Cryptocurrencies extend losses as FTX commences US bankruptcy

Crypto markets extended losses on Friday morning after FTX Group said it has commenced bankruptcy proceedings in the U.S. and that Sam Bankman-Fried has resigned as chief executive officer.

Tribune News Service

FTX Bankruptcy A 'Shock', Says Ousted CEO Sam Bankman-Fried

"I'm piecing together all of the details, but I was shocked to see things unravel the way they did earlier this week," said Sam Bankman-Fried.

The Street

FTX Files For Bankruptcy, Sam Bankman-Fried Resigns; Bitcoin Falls

FTX and most of its subsidiaries officially filed for Chapter 11 bankruptcy protections Friday, while CEO Sam Bankman-Fried resigned.

Investors Business Daily

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FTX crypto exchange, billions of dollars low and under DOJ scrutiny, seeks bankruptcy

FTX had agreed earlier this week to sell itself to bigger rival Binance after experiencing the cryptocurrency equivalent of a bank run. The Department of Justice and the SEC are investigating.

WEKU

Crypto Billionaire Bankman-Fried's Huge Fortune Plummets to $0

Sam Bankman-Fried, 30, still had a net wealth valued at $15.6 billion on November 8.

The Street

Cryptocurrency exchange FTX files for bankruptcy protection in US

Founder Sam Bankman-Fried resigns as CEO and tells of shock ‘to see things unravel the way they did’

The Guardian - UK

Embattled crypto exchange FTX files for bankruptcy

Embattled cryptocurrency exchange FTX, short billions of dollars, is seeking bankruptcy protection following its collapse this week

The Independent UK

Tom Brady and Steph Curry's Crypto Firm Is Bankrupt

FTX, a major cryptocurrency exchange, just filed for Chapter 11 bankruptcy after a turbulent week.

The Street

Sam Bankman-Fried resigns as FTX files Chapter 11 bankruptcy

The cryptocurrency exchange ends a messy week.

Fortune

FTX Latest: Regulators Close-In, Sponsor Deals Die, Bitcoin Resumes Slide

FTX could close its U.S. operations within days, the group warned late Thursday, as it scrambles to find around $9 billion to save the collapsing crypto-trading empire of Sam Bankman-Fried.

The Street

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The Street

Understanding the FTX Scandal That Threatens Bitcoin, Crypto

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

The Guardian - UK

FTX assets frozen by Bahamas regulator as crypto exchange fights for survival

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

The Conversation

The spectacular collapse of a $30 billion crypto exchange should come as no surprise

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.

Crikey

ASIC is looking into FTX’s Australian operations following the cryptocurrency exchange’s collapse

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.

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Fortune

‘10 cents on the dollar’: What happens if Sam Bankman-Fried's empire is forced into a fire sale

All or some of FTX, FTX US, FTX Ventures, and Alameda Research could be liquidated at steep discounts.

Fortune

Canadian teachers could have a $95 million hole in their pensions due to the FTX crypto implosion

The Ontario Teachers Pension Plan shared details about its investments in troubled cryptocurrency exchange FTX. It isn't pretty.

Fortune

‘Prudent regulation of cryptocurrencies is indeed needed’: The White House is watching the FTX implosion and doesn’t like what it sees

“This is an opportunity for the United States to really be the one to put out some more of this clear regulation,” Coinbase’s CEO Brian Armstrong said.

Fortune

With FTX on the verge of collapse, customers are wondering what happens to their crypto

If FTX goes under, there will be a lot of victims, including retail investors.

Al Jazeera

FTX scrambles for rescue funds

CEO Sam Bankman-Fried is urgently seeking funds to save the cryptocurrency exchange as customers rushed for withdrawals.

ABC News

The Loop: Crypto exchange FTX in turmoil, 'city of death' fears as Russia withdraws from Kherson, and Alex Jones ordered to pay Sandy Hook families more — as it happened

The news Australia is searching for, and all the news that happened while you snoozed: This is The Loop, your quick catch-up for this morning's stories as they happen.

The Street

Sequoia Capital Writes Off its Entire Investment in FTX

Investors and cryptocurrency companies expect to take big losses from their exposure to FTX which faces massive liquidity issues.

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