Bitcoin dominance stagnates after FTX bust as investors pull out of BTC – FXStreet | Vette Leader

Bitcoin’s dominance rate is stable at 40%, in contrast to its record of strong increases during times of market stress. On Dec. 5, Bitcoin’s mining difficulty adjustment dropped 7.32%, making it the largest reduction in difficulty of 2022. Bitcoin price has gained nearly 5% over the past week as traders have withdrawn BTC from exchanges. … Read more

Bernie Madoff’s attorney for Bankman-Fried from FTX: "Keep your mouth shut!" – The street | Vette Leader

Sam Bankman-Fried wants to pass for a tragic hero. A few days ago, the founder of bankrupt cryptocurrency exchange FTX launched a media blitz to spread his version that the demise of his empire was bad luck. The former trader has given interviews to several news outlets in a row, including the New York Times/Deal … Read more

For clients of the bankrupt FTX: good news – TheStreet | Vette Leader

The bankruptcy of Sam Bankman-Fried’s cryptocurrency empire on November 11 came as a shock to customers and investors of the various companies involved. The immediate open question is whether they will get their money back. The FTX cryptocurrency exchange has been one of the pivotal platforms in the fledgling financial services industry aiming to disrupt … Read more

DCG’s Barry Silbert reveals crypto firm has $2 billion in debt as he tries to reassure investors after FTX – CNBC | Vette Leader

Barry Silbert, the founder of crypto conglomerate Digital Currency Group, has joined a growing list of industry leaders trying to calm investors’ nerves in the wake of FTX’s sudden collapse. In a note to shareholders on Tuesday, Silbert addressed all the “noise” about the financial health of DCG’s subsidiaries, which include trading company Genesis, Grayscale … Read more

Here is the apology letter Sam Bankman-Fried sent to FTX staff: "When things happen to us, we all tend to make irrational decisions" -CNBC | Vette Leader

Sam Bankman-Fried, Co-Founder and CEO of FTX, in Hong Kong, China on Tuesday May 11, 2021. Lam Yik | Bloomberg | Getty Images Ex-FTX CEO Sam Bankman-Fried backtracked his “irrational decisions” to “sh—y” circumstances in a letter obtained by CNBC and sent to employees at the bankrupt crypto exchange. Bankman-Fried said he was “frozen in … Read more

Next Crypto Brokerage Genesis Facing Bankruptcy? | Mint – mint | Vette Leader

Although FTX announced bankruptcy on November 11, investors panicked a few days before the actual announcement and sold the exchange’s native token FTT. FTX’s woes came under the spotlight when sister company Alameda’s balance sheet raised questions about whose foundation was largely stacked with its native token FTT rather than an independent asset like fiat … Read more

Next Crypto Brokerage Genesis Facing Bankruptcy? | Mint – mint | Vette Leader

Although FTX announced bankruptcy on November 11, investors panicked a few days before the actual announcement and sold the exchange’s native token FTT. FTX’s woes came under the spotlight when sister company Alameda’s balance sheet raised questions about whose foundation was largely stacked with its native token FTT rather than an independent asset like fiat … Read more

FTX Will Sell Or Restructure Global Empire, CEO Says – CNBC | Vette Leader

FTX’s new CEO said Saturday that the bankrupt crypto exchange plans to sell or restructure its global empire, even as Bahamian regulators and FTX argue in court filings and press releases about whether to proceed with the bankruptcy filing in New York or in Delaware . “Based on our review over the past week, we … Read more

FTX Fallout Pushes Bitcoin Mining Revenue to All-Time Lows and Threatens More Firms with Bankruptcy – Forbes | Vette Leader

Bitcoin’s price drop is causing even more pain for miners getty What happened With Bitcoin’s price down 20% since news of FTX’s financial troubles broke on Nov. 6, Bitcoin miners are now earning less revenue than ever. This hit to bitcoin price is eroding margins as conditions for miners deteriorate in a year impacted by … Read more

What Next For Crypto If FTX Collapse Triggers “Lehman Moment”? -CNN | Vette Leader

London CNN business — The stunning demise of the FTX exchange, one of the largest and most respected players in the digital asset market, is causing alarm among people who own cryptocurrencies as investors run for cover. There are still many unanswered questions. But two big ones loom: How far will the damage spread? And … Read more