Tag Archives: ftx

2022 was a year of loss, and many crypto billionaires – from Changpeng Zhao of Binance fame to the Winklevoss Twins who run the Gemini exchange – have lost a ton of money. So much in fact, that in just nine short months, many of them have seen their net worth virtually collapse – in some cases, to zero. Changpeng Zhao and Others Have Lost Tons of Money Changpeng Zhao, for instance, had a net worth of approximately $65 billion in March of last year. By the end of...

Sam Bankman-Fried – the disgraced head executive of the now defunct crypto exchange FTX – is out of prison on a $250 million bond. While awaiting trial, he will live at his parents’ house in California. Sam Bankman-Fried Is Temporarily Out of Jail Bankman-Fried made his way back to the United States from a Bahamian jail in late December of last year. He also made a court appearance on January 3. The bond in question is different from bail. What it means is that if...

Core Scientific – one of the largest digital currency mining firms in the world – has announced it’s filing for chapter 11 bankruptcy protection. The proceedings took place in a federal bankruptcy court in southern Texas. Core Scientific Is Filing Bankruptcy Core Scientific has been hinting at potential bankruptcy for some time. It stated in its official court documents that the declining price of bitcoin, as well as rising electricity prices to run its mining centers...

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Bitcoin had an extremely rough year in 2022. The price crashed, and the asset lost more than 70 percent of its value. Nothing could have prepared us for such a dramatic decline in the standing of the world’s largest and most popular digital currency, and yet there are some – such as venture capitalist Tim Draper – that refuse to give up on it. Tim Draper Still Loves BTC In a recent interview, Draper stated that 2023 will be the year in which bitcoin reaches a whopping...

Sam Bankman-Fried – the man behind now failed digital currency exchange FTX – has been arrested while stationed in the Bahamas and is being extradited to the United States, where he will face criminal charges after they were filed in a New York court. Sam Bankman-Fried Is Heading to an American Jail The criminal charges come by way of the Department of Justice (DOJ), though now the Securities and Exchange Commission (SEC) is filing its own civil suit against the...

The price of bitcoin has taken several hard hits over the past 14 months, but according to legendary investor Mark Mobius, he thinks things are going to get a lot worse before they get better. In fact, he sees the world’s number one digital currency by market cap falling to a new low of $10K before it begins its rebound. Mark Mobius Isn’t Crazy About Bitcoin Mobius has never been a bitcoin fan. At times, he’s referred to it in rather derogatory ways, even calling it a...