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Crypto lender BlockFi files for bankruptcy, cites FTX exposure

Filing follows weeks after FTX collapse FTX listed as BlockFi’s #2 creditor Bitcoin down over 70% from 2021 peak Nov 28 (Reuters) – Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy, it said on Monday, the latest crypto casualty after the firm was hurt by exposure to the dramatic collapse of the FTX exchange …

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Stocks churn ahead of Fed minutes as oil tumbles on price cap plan

Fed Minutes for November at 7:00 p.m. GMT American Thanksgiving holiday on Thursday Stocks post weak gains globally Eurozone economic data point to recession China hit by rising COVID-19 infections LONDON, Nov 23 (Reuters) – Global stocks rebounded on Wednesday ahead of minutes of a Federal Reserve meeting that could shed light on whether the …

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EXCLUSIVE Bankman-Fried’s FTX, parents bought Bahamas property worth $121 mln

FTX unit purchased 7 condos in upscale resort for “key personnel” Bankman-Fried’s parents named owners of $16.4 million vacation home Bankman and Fried tell Reuters: Seeking to return the deed to FTX NEW PROVIDENCE, Bahamas, Nov 22 (Reuters) – Sam Bankman-Fried’s FTX, his parents and top executives of the failed cryptocurrency exchange have purchased at …

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Crypto lender Genesis says no immediate plans to file for bankruptcy

Nov 21 (Reuters) – Cryptocurrency lender Genesis said on Monday it had no immediate plans to file for bankruptcy, days after the collapse of crypto exchange FTX l forced to suspend customer redemptions. “We do not intend to file for bankruptcy imminently. Our goal is to resolve the current situation on a consensual basis without …

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FTX fires three of its top executives – WSJ

Nov 18 (Reuters) – Cryptocurrency exchange FTX, which recently sought protection in a U.S. bankruptcy court, has fired three of its top executives, including co-founder Gary Wang, The Wall reported on Friday. Street Journal, quoting an FTX spokeswoman. The other fired executives were engineering director Nishad Singh and Caroline Ellison, who ran FTX’s trading arm, …

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Fed’s Barr: Concerned about blowback to financial system from crypto

Nov 15 (Reuters) – Michael Barr, the Federal Reserve’s top financial regulator, said on Tuesday he was concerned about risks to the non-banking sector, including cryptocurrencies, for which the U.S. central bank and other regulators have low visibility. “We are concerned about risks that we ignore in the non-banking sector,” Barr said in response to …

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Regulators circle FTX as rival exchanges try to calm investors

US Department of Justice, SEC and CFTC investigating FTX, sources say Fed’s Brainard: Crypto Should Be Subject to Traditional Financial Rules Crypto.com CEO Says He Will Release Proof of Reserves Bitcoin stabilizes around $16,590 NEW YORK, Nov 14 (Reuters) – Bitcoin and other cryptocurrencies were under pressure on Monday after crypto exchange FTX’s dramatic collapse …

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EXCLUSIVE At least $1 billion of client funds missing at failed crypto firm FTX – sources

FTX founder Bankman-Fried secretly transferred $10 billion in funds to trading company Alameda – sources Bankman-Fried showed colleagues spreadsheets revealing transfer of funds to Alameda – sources Spreadsheets say between $1 billion and $2 billion of customer money goes unaccounted for – sources Executives set up accounting ‘backdoor’ that thwarted red flags – sources The …

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Exclusive: Behind FTX’s fall, battling billionaires and a failed bid to save crypto

November 10 (Reuters) – (This story contains language that some readers may find offensive in paragraph 2) On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off guard with a grim message. “I’m sorry,” he told them. “I screwed up.” The reason for the mea culpa: its announcement half an hour …

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