2022-12-05
Lots of interesting tidbits from @joshckoliver's 3am call with Sam Bankman-Fried. Incl an admission that the former billionaire was more involved in investment & financial decisions at Alameda than he has previously suggested -> https://www.ft.com/...
Financial Times
Sam Bankman-Fried admits involvement in two of Alameda's largest uses of funds: spending $3B to buy out Binance's FTX stake and pouring $4B into venture capital
Exchange's former CEO says he was close to key decisions at nominally separate trading firm — Speaking from his bed in Nassau …
2022-11-15
Full story here -> Global investigators pounce as FTX collapse leaves potentially 1mn creditors https://www.ft.com/... https://twitter.com/...
Wall Street Journal
Sources: Sam Bankman-Fried has unsuccessfully continued to attempt to raise $8B to plug FTX's shortfall, despite filing for bankruptcy and resigning as CEO
Alongside a few remaining employees, Mr. Bankman-Fried spent the weekend calling around in search of new commitments from investors
Full story here -> Global investigators pounce as FTX collapse leaves potentially 1mn creditors https://www.ft.com/... https://twitter.com/...
CoinDesk
Bankruptcy filings: FTX CEO John J. Ray III appoints new directors, discloses conversations with “dozens” of regulators, and estimates creditors at over 1M
FTX filed its first substantive look at the exchange's bankruptcy process days after declaring bank
2022-11-14
“Apple was selling computers, we were trying to reinvent the financial system”. Former Binance employees and business partners describe @cz_binance as a divisive entrepreneur on a relentless drive to grow the exchange at all costs. https://www.ft.com/...
Financial Times
A profile of Changpeng Zhao, as sources describe a divisive entrepreneur on a relentless drive to grow at all costs, including by ignoring regulatory compliance
Changpeng ‘CZ’ Zhao launched the boldest corporate raid in crypto's 14yr history when he threw fuel on a blaze already starting to engulf the empire of his chief rival, Sam Bankman-Fried. Here's this week's FT Person in the News by @joshckoliver and me: https://enterprise-sharing.ft.com/ ...
CoinDesk
Binance announces a recovery fund to help “otherwise strong” projects facing a liquidity crisis; Justin Sun says Tron, Huobi, and Poloniex will support Binance
Tron founder Justin Sun said that Tron, Huobi Global and Poloniex will support Binance in its initiative.
Changpeng ‘CZ’ Zhao launched the boldest corporate raid in crypto's 14yr history when he threw fuel on a blaze already starting to engulf the empire of his chief rival, Sam Bankman-Fried. Here's this week's FT Person in the News by @joshckoliver and me: https://enterprise-sharing.ft.com/ ...
Financial Times
A profile of Changpeng Zhao, as sources describe a divisive entrepreneur on a relentless drive to grow at all costs, including by ignoring regulatory compliance
“Apple was selling computers, we were trying to reinvent the financial system”. Former Binance employees and business partners describe @cz_binance as a divisive entrepreneur on a relentless drive to grow the exchange at all costs. https://www.ft.com/...
CoinDesk
Binance announces a recovery fund to help “otherwise strong” projects facing a liquidity crisis; Justin Sun says Tron, Huobi, and Poloniex will support Binance
Tron founder Justin Sun said that Tron, Huobi Global and Poloniex will support Binance in its initiative.
2022-11-13
Changpeng ‘CZ’ Zhao launched the boldest corporate raid in crypto's 14yr history when he threw fuel on a blaze already starting to engulf the empire of his chief rival, Sam Bankman-Fried. Here's this week's FT Person in the News by @joshckoliver and me: https://enterprise-sharing.ft.com/ ...
Financial Times
A profile of Changpeng Zhao, as sources describe a divisive entrepreneur on a relentless drive to grow at all costs, including by ignoring regulatory compliance
The Binance founder's actions left Sam Bankman-Fried's FTX filing for bankruptcy — On Tuesday afternoon Changpeng Zhao … Tweets: @adamsamson Tweets: Adam Samson / @adamsamson : C...
2022-11-09
FTX's near collapse has “severely shaken” confidence in the crypto industry, will heighten regulatory scrutiny and is not “a win” for Binance, according to an internal memo sent by @cz_binance. https://www.ft.com/... @joshckoliver
@cz_binance
Binance CEO Changpeng Zhao says the company signed a non-binding letter of intent to acquire FTX.com and help cover its liquidity crunch, pending due diligence
This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire FTX.com and help cover th...
FTX's near collapse has “severely shaken” confidence in the crypto industry, will heighten regulatory scrutiny and is not “a win” for Binance, according to an internal memo sent by @cz_binance. https://www.ft.com/... @joshckoliver
Financial Times
Memo: Binance CEO Changpeng Zhao says FTX's near collapse “severely” shook confidence in the crypto industry, offers some deal details, and halts FTT sales
Changpeng Zhao tells employees that the bailout of its chief rival is ‘not a win’ — The near collapse of FTX has …
2022-08-16
Alex Mashinsky took control of Celsius trading strategy months before bankruptcy: ‘He was slugging around huge chunks of bitcoin’. https://www.ft.com/... Scoop by @kadhim
Financial Times
Sources: ahead of a Fed meeting in January, Celsius CEO Alex Mashinsky personally directed individual trades, overruling executives, leading to large losses
In January, Celsius Network boss Alex Mashinsky gathered his investment team to tell them he would be taking control …
2022-06-01
A group of leading tech experts is urging Congress to crack down on the crypto industry. This is an important story b/c the crypto lobby in the US and globally has become much bigger, organised and well financed in recent months. https://www.ft.com/... @ScottChipolina
Financial Times
A group of 26 leading computer experts urge US lawmakers to resist crypto lobbying efforts, calling crypto financial instruments “risky, flawed, and unproven”
Computer scientists and academics target US lawmakers in effort to counter well-financed lobbying efforts Source: concerned.tech .
2022-05-31
Smart column from @GaryRSilverman on how American farmers fear that if FTX succeeds in bringing ‘non-intermediated’ futures to regulated US markets, they run the risk of having positions liquidated while they sleep. https://www.ft.com/... (1/3)
Financial Times
At a CFTC meeting, agricultural groups criticized FTX CEO Sam Bankman-Fried's plan for automated risk management and 24/7 trading in leveraged futures markets
Agricultural groups criticise FTX plan for round-the-clock risk management in leveraged futures market
2022-05-13
Tether has refused to disclose details on its $40bn hoard of Treasuries for fear of revealing its “secret sauce”, even as one of the world's most important crypto assets comes under strain from heavy selling pressure. https://www.ft.com/... w/ @ScottChipolina @eva_szalay $USDT https://twitter.com/...
Bloomberg
Terraform Labs halts Terra block production for the second time in 24 hours “to come up with a plan to reconstitute” the network, after UST and LUNA collapsed
The blockchain behind the collapsed TerraUSD stablecoin and the affiliated Luna token stopped processing new transactions for the second time in less than a day. Source: @terra_mon...
Tether has refused to disclose details on its $40bn hoard of Treasuries for fear of revealing its “secret sauce”, even as one of the world's most important crypto assets comes under strain from heavy selling pressure. https://www.ft.com/... w/ @ScottChipolina @eva_szalay $USDT https://twitter.com/...
Financial Times
Tether CTO Paolo Ardoino declines to reveal details about the company's $40B US government bond holdings, for fear of revealing its “secret sauce”
2022-03-19
Tensions between crypto firms and @TheFCA are heating up ahead of a key registration deadline. The FCA says applications have been poor while the industry has lashed out at the watchdog's stringent and slow processes. https://www.ft.com/... @joshckoliver @LauraNoonanFT
Financial Times
The UK's FCA has so far approved 27 of 100+ applications for its list of registered crypto companies that can run digital assets businesses starting in April
Financial Times :
2021-09-09
This SEC intervention could potentially have wide-ranging implications for crypto/DeFi. Yield products are an absolutely huge business & if they are considered securities, it would obv really raise the bar on issuing them. (Story by @MsHannahMurphy) https://twitter.com/...
The Block
Coinbase says SEC threatened to sue over its yet-to-be-launched Lend program, following discussions with the regulator that have lasted almost six months
Frank Chaparro / The Block :
2021-09-08
This SEC intervention could potentially have wide-ranging implications for crypto/DeFi. Yield products are an absolutely huge business & if they are considered securities, it would obv really raise the bar on issuing them. (Story by @MsHannahMurphy) https://twitter.com/...
The Block
Coinbase says SEC threatened to sue over its yet-to-be-launched Lend program, following discussions with them for almost six months
Crypto exchange Coinbase CEO Brian Armstrong responded Tuesday evening to planned enforcement by the U.S. Securities and Exchange Commission pertaining … Source: The Coinbase Blog ...
2021-07-12
Circle's plans to list on Wall St through a Spac will test the USD Coin issuer's transparency on reserves. @SVR13 takes a deep dive into $USDC: https://www.ft.com/... https://twitter.com/...
Financial Times
Circle, which says the value of its USDC stablecoins passed $26B+, has made info on its reserves more opaque in recent months, ahead of going public via SPAC
Siddharth Venkataramakrishnan / Financial Times : Tweets: @jessefelder , @adamsamson , @retheauditors , @retheauditors , @retheauditors , and @retheauditors Tweets: Jesse Felder /...
2021-06-28
The UK financial regulator has ordered Binance to cease regulated activities and imposed a series of stringent requirements in a rebuke of one of the world's biggest cryptocurrency exchanges. Here's a 🧵. For more, read the @FT story: https://www.ft.com/... (1/x)
Financial Times
UK's Financial Conduct Authority orders Binance to stop all regulated activities in Britain by June 30 and issues consumer alert against the company
FCA also issues consumer alert against sprawling cryptocurrency group — The UK's financial watchdog has ordered Binance to stop …