FTX Founder Sam Bankman-Fried Says He Can’t Account for Billions Sent to Alameda
MarketsCurrenciesCryptocurrencyEntrepreneur says he had little insight into workings of trading firm even though he owned 90% of it Source link
Financial Technology
BlockFi Says It Is Different From FTX, Affirms Efforts to Return Customer Funds
BlockFi Inc. told a U.S. bankruptcy court on Tuesday it was blindsided by cryptocurrency exchange FTX’s rapid demise and would work to repay creditors...
They Lived Together, Worked Together and Lost Billions Together: Inside Sam Bankman-Fried’s Doomed FTX Empire
NASSAU, Bahamas—Sam Bankman-Fried’s $32 billion crypto-trading empire collapsed in an incandescent bankruptcy last week, prompting irate customers, crypto acolytes and...
CEO in Charge of FTX Restructuring Calls Case an ‘Unprecedented’ Mess
The crypto exchange exhibited a “complete failure of corporate controls,” former Enron chief John Ray said in his first detailed...
Bankrupt Crypto Exchange FTX Probing Unauthorized Transactions
MarketsCurrenciesCryptocurrencyMore than $370 million worth of crypto funds appears to be missing, according to risk-management firm Elliptic Source link
WSJ News Exclusive | Alameda, FTX Executives Are Said to Have Known FTX Was Using Customer Funds
Alameda Research CEO and senior FTX officials are said to have known that FTX had lent its customers’ money to...
FTX Files for Bankruptcy; Sam Bankman-Fried Steps Down as CEO
The cryptocurrency platform said Sam Bankman-Fried would remain at the company to assist with an orderly transition and it would...
Pfizer, Uber and Starbucks Highlight Another Busy Earnings Week
Pfizer Inc., PFE 3.69% Uber UBER -1.15% Technologies Inc. and Starbucks Corp. SBUX 2.13% are among the heavyweights headlining another...
WSJ News Exclusive | Goldman Plans Sweeping Reorganization, Combining Investment-Banking and Trading
Goldman Sachs Group Inc. GS -2.31% plans to fold its biggest businesses into three divisions, undertaking one of the biggest...
How the Fed’s Rate Increase Will Hit Americans’ Monthly Budgets
By raising rates, the Fed seeks to cool the economy and rein in inflation, which continued to run higher than...
Fed Plans 2023 Launch of Long-Anticipated Faster Payments System
WASHINGTON—The Federal Reserve is set to launch a long-awaited faster payments system next year, a step that officials say will...
NFTs Are Increasingly Targeted by Criminals, Report Says
Nonfungible tokens, or NFTs, are increasingly sought by criminals looking to either steal them or use them to launder illicit...
U.S. Steps Up Enforcement of Its Long List of Russia Sanctions
WASHINGTON—The U.S. has imposed a set of powerful sanctions against Russia’s economy to punish it for the invasion of Ukraine....
Federal Reserve Finalizes Guidelines for Access to Its Payment Systems
The Federal Reserve said Monday it would adopt a tiered approach toward determining whether to grant financial institutions access to...
What CEOs Are Saying: ‘Situation Seems Worse Than It Did a Quarter Ago’
Here is what some of the world’s corporate leaders said in their quarterly earnings reports this week about the economy,...
WSJ News Exclusive | Jack Ma Plans to Cede Control of Ant Group
HONG KONG—Billionaire Jack Ma plans to relinquish control of Ant Group Co., people familiar with the matter said, part of...
WSJ News Exclusive | Activist Elliott Management Holds Stake in PayPal
Activist investor Elliott Management Corp. has a stake in PayPal PYPL -5.65% Holdings Inc., according to people familiar with the...
Tesla Vehicle Deliveries Tumble After China Factory Shutdown
Tesla vehicle deliveries fell quarter-over-quarter for the first time in more than two years, reflecting an extended shutdown in China,...
Pinterest CEO Is Stepping Down, Google Commerce Executive to Take Top Job
Pinterest longtime chief executive is stepping down and a Google commerce executive is taking over the top job, the social-media...
Marketers at NFT.NYC Upbeat on Brand-Building in the Metaverse
The nosedive in cryptocurrencies and nonfungible tokens peppered conversations, panels and events at NFT.NYC, a four-day event last week focused...
