Crypto clients looking to write off FTX investments for tax purposes will have to wait – Fortune | Vette Leader

After FTX’s dramatic collapse, some users are already trying to write off their losses. But the process won’t be as quick or easy. Fourth-largest cryptocurrency FTX filed for bankruptcy on Nov. 11, but the process is already riddled with uncertainty and power struggles, suggesting it will be a long, drawn-out process to wind down Sam … Read more

FTX Poured Millions Into Political Campaigns Before Bankruptcy – The Epoch Times | Vette Leader

Three FTX executives donated over $70 million to both political parties in 2022, ranking third in giving Former FTX executives have been instrumental in this year’s midterm elections to gain influence in Washington. After the collapse of the cryptocurrency exchange, the big beneficiaries of FTX’s donations have attracted attention. According to the Center for Responsive … Read more

Judge in FTX case grants customers privacy for now – Axios | Vette Leader

Image: Sarah Grillo/Axios The FTX bankruptcy judge gave a victory for customer privacy on Tuesday – but it wasn’t really just about privacy. It was about money. Driving the news: The post-Sam Bankman-Fried FTX appeared in Delaware bankruptcy court on Tuesday, demanding – among other things – that the names of everyone (everyone!) to whom … Read more

Problems for Grayscale: Is it the same situation as FTX’s bankruptcy? – The Kryptonome | Vette Leader

It’s scary to compare to the FTX bust, but Grayscale Bitcoin Trust (GBTC) recently lost 43% of its value. It is currently consistently trading at a steep discount to the spot bitcoin price it is holding. The proposed solution is a facilitating Regulation M filing with the SEC. What is grayscale? Is it really connected … Read more

FTX bankruptcy: what happens now? – The Indian Express | Vette Leader

Crypto exchange FTX filed for Chapter 11 bankruptcy protection in the United States on Friday following its precipitous collapse, saying it may owe more than 1 million creditors. Here’s what you’re likely to expect in this case: What about FTX’s bankruptcy? FTX had an unusually slow start to bankruptcy, taking almost a week to file … 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

Will FTX Bankruptcy Change Crypto Calculations in Your Retirement Account? -Forbes | Vette Leader

Only Photo via Getty Images The collapse of cryptocurrency exchange FTX sent ripples through trading markets. And more. It’s a story that involves politicians, celebrities, and possibly geopolitical intrigue. “FTX ceased operations after it became known that the company was involved in fraudulent activities,” said Aviad Faruz, chief executive officer of FARUZO in New York … Read more

Will FTX Bankruptcy Change Crypto Calculations in Your Retirement Account? -Forbes | Vette Leader

Only Photo via Getty Images The collapse of cryptocurrency exchange FTX sent ripples through trading markets. And more. It’s a story that involves politicians, celebrities, and possibly geopolitical intrigue. “FTX ceased operations after it became known that the company was involved in fraudulent activities,” said Aviad Faruz, chief executive officer of FARUZO in New York … Read more

FTX Bankruptcy Filing Skewers Company and Sam Bankman-Fried – Entrepreneurs | Vette Leader

Cryptocurrency exchange firm FTX has been mismanaged across its various subsidiaries and ventures — from record keeping to mismanagement of its corporate assets — according to the firm’s new head, John Ray III, in its “First Day” Chapter 11 filed Thursday -Registration of the company. (A “first day” statement explains how a company entered bankruptcy … Read more

FTX Users May Be In A Better Position To Reclaim Their Fortune Than In Previous Crypto Busts – Fortune | Vette Leader

FTX filed for bankruptcy last Friday, capping an incredibly volatile week that saw the fourth-largest global cryptocurrency exchange collapse in a breathtaking fashion. Approximately 130 FTX-affiliated companies, including the US arm, were included in the Delaware Chapter 11 filing, while the Bahamas arm of FTX filed for Chapter 15 bankruptcy in the US Southern District … Read more