Crypto fraud value surged 32 per cent to £226m this year November 28, 2022 Crypto fraud has surged during the tough economic climate by almost a third this year alone. More than 10,000 crypto fraud reports were made this year, a 16 per cent rise on 2021, as thousands of people were scammed. The value of UK crypto fraud surged by 32 per cent from £171m to £226m this [...]
FTX run as ‘personal fiefdom’ for Bankman-Fried, say lawyers November 22, 2022 Lawyers representing collapsed crypto exchange FTX said the firm was “effectively run as a personal fiefdom” for founder Sam Bankman-Fried today, as court documents showed the firm had splurged nearly $121m in property in the past two years.
Crypto collapse: FTX launches review of assets and seeks court relief to pay key vendors November 21, 2022 Collapsed crypto exchange FTX said it has launched a strategic review of its global assets and is preparing for the sale or reorganisation of some of its businesses, just a week after it filed for bankruptcy. FTX said the review of its global assets would “begin to maximize recoverable value for stakeholders”. In a filing this [...]
FTX’s new bankruptcy boss slams ‘complete failure of corporate controls’ November 17, 2022 The new chief of collapsed crypto exchange FTX has slammed a “complete failure of corporate controls” and “absence of trustworthy financial information” at the firm, in court filings published today.
FTX: Bankman-Fried claims he ‘basically forgot’ about account holding $8bn customer cash November 17, 2022 FTX founder Sam Bankman-Fried has launched an attack on regulators for failing to protect consumers today, even as he admitted he “basically forgot” about an account holding $8bn of customer’s cash.
FTX collapse may be ‘best thing ever to happen to crypto’, argues Scotcoin chief November 14, 2022 As the crypto space is rocked by the aftermath of last week’s FTX collapse, exchanges are rushing to calm investors’ fears. FTX and Alameda have now filed for chapter 11 in the United States – and about time, according to Temple Melville, the CEO of the Scotcoin Project Community Interest Company. He told City A.M. [...]
FTX scrambles for emergency funds as contagion fears grow November 10, 2022 Bitcoin could tumble to as low as $13,000 as the industry is rocked by the crisis at the crypto exchange FTX, JP Morgan has warned.
FTX plunges following Binance bailout November 8, 2022 FTX coin plunged as much as 75 per cent this evening after crypto exchange Binance struck a dramatic deal to snap up its beleaguered rival. FTX, led by billionaire chief Sam Bankman-Fried, had been locked in a high-profile spat with Binance boss Changpeng Zhao in recent days, which had sparked an investor exodus from FTX. [...]
Crypto-friendly Rishi Sunak means a major boost for Bitcoin Britain October 27, 2022 Rishi Sunak has become the UK’s third prime minister in three months. The new Tory leader is an interesting one from a crypto point of view. As finance minister, Sunak famously ushered in the Financial Services and Markets Bill earlier this year, aiming to bring stablecoins into the UK payments system. He said at the [...]
Exclusive: UK police record £36m fraud linked to Cristiano Ronaldo-backed cryptocurrency giant Binance October 11, 2022 UK investors lost £36million in fraud last year relating to the crypto firm Binance before it partnered with Cristiano Ronaldo, fresh police figures have revealed. The figure, shared exclusively with City A.M. this morning, was revealed following a Freedom of Information (FOI) request by InvestingReviews.co.uk, and comes as Binance faces a growing global crackdown from [...]