Tag: Sam Bankman-Fried

Celsius Network Insolvent Since Inception

A court-ordered investigation is looking into Celsius Network, a cryptocurrency lender that promised its customers a big 17% return on their deposits every year. The company’s failure was reportedly inherent in its business model, and its founder and CEO, Alex Mashinsky, has come under fire for fraud. “Extreme Market Conditions” In June 2022, Celsius halted withdrawals and transfers, blaming “extreme market conditions.”...

Bankruptcy, Celsius, Front page, FTX, Main, Sam Bankman-Fried

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Crypto Today: Risk appetite; Bitzlato bust; FTX funds

Risk appetite returns The price of bitcoin has risen by almost a third since the beginning of the year, leading to speculation that the prolonged ‘crypto winter’ is finally beginning to thaw. Short sellers lost hundreds of millions of dollars in the space of just a few days, according to a report from crypto investment service BitStacker. The gains come amid easing inflation and signs that the US Federal Reserve will slow interest...

Binance, Bitcoin, Bizlato, Cryptocurrencies, Exchanges, FTX, Sam Bankman-Fried

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Solana Loses 94% of Value Since Start of 2022 Due to Association with SBF and FTX

Solana is a layer-1 blockchain network that is not controlled by a central authority and runs on its own cryptocurrency, SOL. It aims to give decentralized applications and blockchain-based projects infrastructure that is fast, safe, and scalable. Anatoly Yakovenko started Solana in 2017. Since then, it has become a popular choice among developers who want to build on a reliable and fast blockchain platform. Even though SOL is popular and is...

$SOL, Bankruptcy, Front page, FTX, Main, NFTs, Sam Bankman-Fried

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Sam Bankman-Fried was arrested in the Bahamas

Bankman-Fried has been apprehended in the Bahamas. According to CNBC, Bankman-arrest Fried’s warrant was issued after US officials filed charges against him. This was confirmed by Ryan Pinder, who is the Attorney General of the Bahamas. He said that the U.S. was likely going to ask for his extradition soon. In a statement about this, Philip Davis, the prime minister of the Bahamas, said: The Bahamas and the United States have an interest...

Bankruptcy, Cryptocurrencies, Front page, FTX, Main, Sam Bankman-Fried

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Crypto Today: The worst; BTC Decoupling; FTX Impact

Is the worst nearly over?  In this still-emerging business, volatility has always been a constant. Cryptocurrency is infamous for its steep declines and spectacular recoveries. Long-time Bitcoin supporters can confirm that this is not the first crypto winter. May cryptocurrency prices and stocks recover in 2023? Hany Rashwan, CEO of 21.co, a cryptocurrency investment business, said, “It is very evident that we as an industry...

Bankruptcy, Bitcoin, Cryptocurrencies, FTX, Sam Bankman-Fried

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BlockFi’s U.S. bankruptcy filing

Two weeks ago, BlockFi banned withdrawals owing to “lack of clarification over the fate of FTX.com, FTX US, and Alameda.” As previously mentioned by the BlockFi team, the move would be directly spurred by the demise of FTX, the business that initially offered a $400 million credit line to fund the crypto-lending startup. This is in addition to the exchange formed by Sam Bankman-option Fried’s to acquire for an additional $280...

Bankruptcy, Blockfi, Cryptocurrencies, Front page, FTX, Main, Sam Bankman-Fried

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How far does the FTX contagion go?

Just as 2021 will be recognized as the year institutional money began to enter the crypto world, 2022 will surely be infamous for the seemingly endless list of problems and bankruptcies in the crypto world.  When it came out that Sam Bankman-Fried, the founder of FTX, had taken $10 billion off of FTX’s balance sheet to fix a problem at his sister quantitative trading firm, Alameda Research, the cryptomarkets became very unstable. Until...

Cryptocurrencies, Exchanges, Front page, FTX, Sam Bankman-Fried

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