ftx

  1. Hanno Labuschagne

    Danger of keeping your crypto on an exchange

    Danger of keeping your crypto on an exchange Every four years, Bitcoin and other cryptocurrencies go through a mania period that draws in millions of people around the world hoping to earn big returns on surging token prices. Like clockwork, a significant number of these new investors...
  3. Hanno Labuschagne

    25 years jail-time for SBF

    25 years jail-time for SBF FTX co-founder Sam Bankman-Fried was sentenced to 25 years in prison for stealing billions of dollars from customers, marking the final chapter in a case that has upended the crypto industry. US District Judge Lewis A. Kaplan delivered the sentence in federal court...
  4. Hanno Labuschagne

    SIM-swapping fraudsters took R7.5 billion from FTX after bankruptcy

    SIM-swapping fraudsters took R7.5 billion from FTX after bankruptcy Three people have been charged with orchestrating a SIM-swapping scam that siphoned more than $400 million (R7.45 billion) from FTX as the cryptocurrency exchange spiraled into bankruptcy. Hours after FTX filed for bankruptcy...
  5. Hanno Labuschagne

    Bitcoin's growing stability scares off crypto day traders

    Bitcoin's growing stability scares off crypto day traders Between 2013 and 2017, Peter To claims he made more than $1 million by day-trading Bitcoin during its bull runs. While the world’s largest cryptocurrency has rallied in recent weeks, more than doubling from levels after last year’s epic...
  6. Hanno Labuschagne

    SBF facing over 100-year jail sentence after guilty verdict

    SBF facing over 100-year jail sentence after guilty verdict Sam Bankman-Fried was convicted of a massive fraud that led to the collapse of his FTX exchange, following a month-long trial that pitted the testimony of the former crypto king against that of some of his closest friends...
  7. Hanno Labuschagne

    CZ has lost 38% of fortune in 2023

    CZ has lost 38% of fortune in 2023 Sam Bankman-Fried, on trial for fraud in New York, isn’t the only crypto founder feeling the heat. The Bloomberg Billionaires Index slashed its estimate of revenues at crypto exchange Binance by 38% after data showed volumes at the firm declined this year...
  8. Hanno Labuschagne

    SBF is staying in the tjoekie

    SBF is staying in the tjoekie Sam Bankman-Fried’s request to be released from jail ahead of his Oct. 3 fraud trial was denied by a federal appeals court, hours after he lost a separate ruling that blocks him from calling expert witnesses for his defense. The former FTX co-founder has been...
  9. Hanno Labuschagne

    FTX working on reboot plan

    FTX working on reboot plan A plan to reboot a new version of the defunct crypto exchange FTX Group may emerge as soon as next year, potentially injecting a jolt of activity back into a market that’s been largely subdued since the platform’s collapse. More than 75 bidders have been contacted by...
  10. Hanno Labuschagne

    Google owner Alphabet is sitting on "too much" cash

    Google owner Alphabet is sitting on "too much" cash Alphabet Inc. is facing a new and, by most accounts, welcome problem — how to spend its rapidly expanding pile of cash. The Google owner generated nearly $29 billion (R549.62 billion) in cash in the second quarter after cutting thousands of...
  11. Hanno Labuschagne

    SBF says revoking his bail would violate his free speech rights

    SBF says revoking his bail would violate his free speech rights FTX co-founder Samuel Bankman-Fried claims that revoking his bond and jailing him for speaking with a newspaper reporter would violate his free-speech rights. US prosecutors asked a judge last week to revoke Bankman-Fried’s $250...
  12. Hanno Labuschagne

    FTX reveals draft plan to pay back the money

    FTX reveals draft plan to pay back the money FTX Group unveiled a draft creditor-repayment plan as part of its bankruptcy that calls for settling customer claims in cash and wiping out its digital token FTT. The plan — which FTX expects to amend based on feedback from stakeholders — proposes...
  13. Hanno Labuschagne

    FTX sues SBF and former associates over R17.9 billion in bad deals

    FTX sues SBF and former associates over R17.9 billion in bad deals Bankrupt FTX Trading Ltd. will try to claw back millions of dollars in cash and unwind more than $1 billion (R17.88 billion) in questionable transactions as part of a new lawsuit filed against company founder and alleged...
  14. Hanno Labuschagne

    FTX could reboot exchange using money owed to customers

    FTX could reboot exchange using money owed to customers FTX may use money marked to repay customers to restart its failed crypto exchange because the project would require a significant amount of cash, a lawyer for the company said in court Wednesday. The company is still in the early stages...
  15. Hanno Labuschagne

    US charges SBF for bribing Chinese officials

    US charges SBF for bribing Chinese officials Sam Bankman-Fried was charged with bribing Chinese officials, adding a new dimension to the US government’s case against the FTX co-founder. The new charge was unsealed Tuesday in a revised indictment by federal prosecutors in Manhattan. [Bloomberg]
  16. Hanno Labuschagne

    SBF not allowed to use smartphone while out on bail

    SBF not allowed to use smartphone while out on bail Sam Bankman-Fried’s communication device will be a flip phone or some other “non-smartphone” without internet capabilities or such access disabled while he’s out on bail, prosecutors said. Limiting the FTX founder’s access to a device that...
  17. Hanno Labuschagne

    Binance facing intensified US government scrutiny

    Binance facing intensified US government scrutiny US Senators representing both Democrats and Republicans are demanding that Binance and Binance.US provide a detailed accounting of their finances and efforts to maintain regulatory compliance, according to a letter signed by Senators Elizabeth...
  18. Hanno Labuschagne

    Bitcoin rally fizzle a bad sign of things to come

    Bitcoin rally fizzle a bad sign of things to come Bitcoin’s subsiding two-month rally contains a warning for investors if history is any guide. The February jump in the largest digital token has withered to about 2% and pales compared to January’s 39% surge, data compiled by Bloomberg show...
  19. Hanno Labuschagne

    FTX Japan will be first unit to reopen withdrawals

    FTX Japan will be first unit to reopen withdrawals The Japanese subsidiary of Sam Bankman-Fried’s failed crypto exchange plans to reopen withdrawals on Tuesday, making itself the first of the FTX group’s businesses to return money to clients. FTX Japan K.K. will start allowing customers to...
  20. Hanno Labuschagne

    Bitcoin off to a flying start in 2023

    Bitcoin off to a flying start in 2023 Bitcoin is set for its best January since 2013 on bets that monetary tightening and the crypto-sector crisis are both ebbing. The largest token is up over 40% since the turn of the year, a first-month gain bettered only twice before when crypto was in its...
  21. Hanno Labuschagne

    FTX's list of creditors includes Goldman Sachs and other Wall Street bigwigs

    FTX's list of creditors includes Goldman Sachs and other Wall Street bigwigs Advisers to FTX say the collapsed crypto company owes a dizzying assortment of firms including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Wells Fargo & Co., bankruptcy court documents show. A 116-page document...
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