marketcrash
bitcoincrash
pensions
nationaldebt
bubble
risk
debtcollapse
FTX
09/22/2023
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By Arsenio Toledo
Sam Bankman-Fried’s father complained about being paid only $200K a year when he expected an annual salary of $1M from FTX
Joseph Bankman, the father of disgraced cryptocurrency mogul and former billionaire Sam Bankman-Fried, allegedly complained to his son about him only having a salary of $200,000 a year, a fraction of the $1 million he was expecting. This is according to a lawsuit filed by FTX, the cryptocurrency exchange founded by Bankman-Fried, against his parents. This […]
09/14/2023
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By Belle Carter
FTX legacy? JPMorgan explores blockchain-based deposit token as new payment vehicle… backed by the bank itself
JPMorgan Chase & Co. is exploring a blockchain-based digital deposit token so that it can hasten cross-border payments, a move that pushes the institutional adoption of blockchain technology. According to a person familiar with the work who asked not to be identified, America’s largest bank by assets has already developed the majority of the underlying […]
08/15/2023
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By Arsenio Toledo
Sam Bankman-Fried indicted AGAIN for allegedly using $100M in stolen customer funds for political donations
A new indictment filed by federal prosecutors against cryptocurrency exchange FTX co-founder Sam Bankman-Fried alleged that he used more than $100 million in stolen customer funds to make political campaign contributions right before the 2022 United States midterm elections. The 31-year-old former billionaire was charged with seven counts of conspiracy and fraud after the collapse of […]
03/30/2023
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By Ethan Huff
PAYING OFF THE COMMIES: Sam Bankman-Fried of FTX funneled $40 million in crypto bribes to CCP officials
In an attempt to “influence and induce them” to unfreeze Alameda Research trading accounts holding more than $1 billion worth of cryptocurrency, shamed FTX founder and financial terrorist Sam Bankman-Fried (SBF) funneled $40 million in crypto to “one or more” Chinese government officials as a bribe. Federal prosecutors in Manhattan have hit SBF with a […]
03/26/2023
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By Ethan Huff
FTX victims sue YouTubers who promoted now-failed cryptocurrency exchange for $1 billion
Victims who lost money following the collapse of FTX are suing finance YouTubers who promoted the now-failed cryptocurrency exchange, which was run by disgraced CEO and left-wing megadonor Sam Bankman-Fried (SBF). According to reports, the plaintiffs are seeking $1 billion in damages in a class-action suit against these social media “influencers” who peddled the toxic […]
03/21/2023
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By Cassie B.
SAM THE SIPHON: Filings show former CEO Sam Bankman-Fried took $2.2 billion in customer funds for personal use
FTX Co-founder and former CEO Sam Bankman-Fried and five members of his inner circle reportedly pocketed more than $3.2 billion from parts of their crypto empire, including the hedge fund Alameda Research. Bankman-Fried and the other employees transferred the funds to their personal accounts using the label of “payments and loans.” This is according to […]
03/16/2023
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By JD Heyes
‘Forbes Curse’ strikes once again – financial institutions rated ‘excellent’ by failing magazine are collapsing days later
Just weeks before regulators seized control of Silicon Valley Bank due to its inability to meet withdrawal demands, the bank had proudly made Forbes’s annual list of America’s Best Banks. In a Twitter post last week, the bank celebrated the achievement and highlighted its five consecutive years on the list. But Forbes’s prestigious lists have […]
03/14/2023
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By JD Heyes
Stablecoin USDC busts through dollar peg as its cryptocurrency at risk of losing billions in SVB collapse
The collapse of Silicon Valley Bank in California is continuing to have negative reverberations throughout the economy and across the finance and tech worlds. Circle, a US-based cryptocurrency firm, announced over the weekend that nearly 8 percent of its $40 billion reserves were tied up with SVB. As a result, the value of Circle’s stablecoin, […]
01/31/2023
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By Ramon Tomey
White House calls for regulators to bolster oversight of cryptocurrencies
The White House called for regulators to bolster oversight of cryptocurrencies, warning of the dangers that come with the burgeoning sector. Four White House officials – National Economic Council Director Brian Deese, Office of Science and Technology Policy Director Arati Prabhakar, Council of Economic Advisers Chairwoman Cecilia Rouse and National Security Adviser Jake Sullivan – made […]
01/22/2023
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By JD Heyes
Crypto firm Genesis to become latest bankruptcy as industry continues to collapse
Another week, another major cryptocurrency firm is set to file for bankruptcy protection. As reported by Bloomberg News, Genesis Global Capital “is laying the groundwork for a bankruptcy filing as soon as this week, according to people with knowledge of the situation.” “The cryptocurrency lending unit of Digital Currency Group has been in confidential negotiations with various […]
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