“FTX is fine. Assets are fine,” Sam Bankman Fried said in a tweet on November 7 just four days before crypto exchange FTX filed for Chapter 11 bankruptcy. Virtually no one saw it coming except for a few people in […]
In 2020, we wrote about the US Federal Reserve after the central bank announced a plan to create its own Digital Dollar Wallet in 2021. It was part of the U.S. government’s efforts to launch the U.S. central bank digital currency (CBDC) and maintain the […]
It’s just Tuesday and it’s looking like the repeat of last week. Last week, crypto lender BlockFi suspended withdrawals as fear of insolvency and liquidity crunch spreads across crypto markets. Then this week, BlockFi is preparing for bankruptcy, forming a new […]
As FTX’s house of cards comes crashing back down to earth, it’s now becoming apparent that Sam Bankman-Fried’s crypto exchange is nothing but a shell company launched to funnel and launder money to the Democratic Party and also ensure that […]
Elon Musk didn’t become an overnight billionaire by accident. He not only outworks most people but also outsmarts them with laser-focused execution and achieving results even when all cards are stacked against him. Musk’s work ethic was on display after he tweeted an […]
Disgraced FTX founder and former CEO Sam Bankman-Fried has reportedly listed his $40 million penthouse for sale in the Bahamas. The revelation comes less than a week after Bankman-Fried resigned from the company as the CEO. The 12,000 square-foot penthouse is […]
Amazon is planning to lay off approx. 10,000 employees in corporate and technology jobs starting as soon as this week, the New York Times reported, citing people with knowledge of the matter said. The layoff would be the largest job […]
It’s an epic fall from grace. In just a matter of days, FTX founder and CEO Sam Bankman-Fried (also known as SBF) went from being a multi-billionaire with at least a $16 billion net worth to losing all of his […]
As the story of the collapse of FTX unfolds, investors are beginning to worry about the fallout and long-term implications on the entire crypto industry. The fall of FTX has reignited discussions about the opaque nature of crypto exchanges, their lack […]
Just when you think it can’t get any worse, Reuters reported early this morning that disgraced FTX founder Sam Bankman-Fried secretly moved $10 billion to Alameda Research using a “backdoor” he built into FTX software without alerting external auditors. According to […]
Early this month, Elon Musk introduced the $8/month blue checkmark subscription verification service. The service allows anyone who paid for a “blue check” to be verified. Calling it “Power to the people,” Musk said at the time of launch that “Twitter’s current lords […]
Sam Bankman-Fried (also known as SBF) has resigned as the CEO of the crypto exchange FTX Group. John J. Ray III has been appointed the new CEO effective immediately. The sudden announcement comes just a day after SBF warned FTX investors of […]
Apart from the dot-com bubble of 2009, this week is probably the craziest week in the tech industry. Tech companies including startups and big tech have so far laid off at least 118,865 employees with no end in sight. Five senior Twitter […]
This week is probably the beginning of the end for FTX. The crypto exchange faces a series of bad news on multiple fronts. About an hour ago, the Wall Street Journal reported that FTX tapped into customer accounts to fund risky […]
In 2020, FTX founder and CEO Sam Bankman-Fried made headlines after donating a massive $5.2 million to Joe Biden’s campaign, earning him the title of the second-largest donor. However, Bankman-Fried’s fortunes seem poised for a downturn as he finds himself […]
Today is probably one of the worst days for FTX CEO Sam Bankman-Fried, who was once called the King of Crypto. It was one bad news after another. A few hours ago, Bankman-Fried told investors that the company is seeking emergency […]
Today is probably the worst day in the crypto industry. In the past 48 hours, the cryptocurrency market lost over $200 billion of its value as millions of crypto investors withdrew their money from major crypto exchanges following the liquidity […]
Earlier today, we reported that Binance was strongly considering backing out of the FTX deal after learning that FTX’s financials are worse than let on. Now, the Wall Street Journal (WSJ) has just learned that Binance has backed out of the […]
Less than 24 hours after Binance announced it has reached a non-binding agreement to buy crypto exchange FTX, FTT, the token native to FTX, lost most of its value and fell as low as $3.1 on Tuesday from its $22 price on […]
Facebook parent Meta has poured billions into the metaverse. But it now appears the risky bet may never pay off. Now, the once-trillion company is forced to lay off thousands of employees to stay afloat. Meta is laying off 13% […]
