Crypto lender BlockFi files for bankruptcy as FTX ripple effect spreads

Filing follows weeks after FTX collapse FTX listed as BlockFi’s No.2 creditor Bitcoin down over 70% from 2021 peak Nov 28 (Reuters) – Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection, it said on Monday, the latest crypto casualty following the spectacular collapse of the FTX exchange earlier this month. The filing in … Read more

Exclusive: How FTX bought its way to become the ‘most regulated’ crypto exchange

FTX bought a 10% stake in IEX with an option to acquire 100% FTX spent $2 billion on ‘acquisitions for regulatory purposes’ Documents show FTX saw its regulatory status as a way of luring new capital from major investors Nov 18 (Reuters) – Before it collapsed this month, FTX stood apart from many rivals in … Read more

FTX fallout hits crypto lender Genesis; Bankman-Fried, celebs sued

Nov 16 (Reuters) – Crypto lender Genesis Global Capital suspended customer redemptions on Wednesday, citing the sudden failure of crypto exchange FTX, while court papers showed FTX founder Sam Bankman-Fried faces legal action. FTX filed for bankruptcy protection in the United States on Friday in the highest-profile crypto blowup to date, after traders pulled $6 … Read more

Musk’s all-nighters at Twitter raise concern for Tesla investors

SAN FRANCISCO, Nov 15 (Reuters) – In 2018, Elon Musk was working through the night and sleeping at Tesla Inc’s (TSLA.O) factories in California and Nevada as the company struggled to ramp up production of the Model 3. On Monday, Musk said he had worked through the night at Twitter’s San Francisco headquarters and would … Read more

Cryptoverse: That long, Solana? Ether rival clobbered by FTX crash

Nov 15 (Reuters) – Solana, a poster coin of the crypto future, is in trouble. The cryptocurrency, which had been lauded by FTX’s founder Sam Bankman-Fried, has been hit harder than any other major coin by the collapse of the exchange. The Solana token, or SOL , has dropped 53.8% since the furor began unfolding … Read more

Sam Bankman-Fried’s sudden turn from white knight to washout

Nov 11 (Reuters) – Sam Bankman-Fried earned a reputation as savior of the crypto industry when he bailed out two platforms earlier this year. But when FTX, the exchange he co-founded and led until Friday, needed a lifeline, none was forthcoming. Until this week, the 30-year-old American was seen as a darling in digital assets … Read more

FTX’s Bankman-Fried scrambles for funds after Binance deal collapse

HONG KONG/SINGAPORE/NEW YORK, Nov 10 (Reuters) – FTX Chief Executive Sam Bankman-Fried on Thursday launched an urgent push to raise funds to save his firm as the crypto exchange looks to plug a reported $8 billion hole in its finances, according to tweets and a memo to employees. Bankman-Fried said he was in talks with … Read more

Cryptoverse- Elon Musk frees the bird and the dog coin flies

SINGAPORE, Nov 8 (Reuters) – It’s no joke. Elon Musk’s acquisition of Twitter has put fresh wind in the sails of dogecoin, the meme cryptocurrency he catapulted to fame. Dogecoin’s price doubled after the Tesla tycoon completed the $44 billion deal. It was trading at about $0.07 on Oct. 27 before Musk tweeted “the bird … Read more

As Musk focuses on Twitter, his $56 billion Tesla pay goes to trial

WILMINGTON, Del., Nov 7 (Reuters) – As Elon Musk is engulfed in his overhaul of Twitter, the entrepreneur is headed to trial to defend his record $56 billion Tesla Inc pay package against claims it unjustly enriches him without requiring his full-time presence at the carmaker. A Tesla (TSLA.O) shareholder is seeking to rescind Musk’s … Read more

Philip Morris clinches Swedish Match after smoking out opposition

PMI needs 90% stake for compulsory buyout of minorities PMI believes that target can eventually be reached PMI says top 10 Swedish Match investors tendered shares Nov 7 (Reuters) – Marlboro maker Philip Morris International (PMI) (PM.N) overcame some opposition to clinch 83% of Swedish Match (SWMA.ST), short of the 90% it wanted but enough … Read more