Sam Bankman-Fried says he ‘didn’t ever try to commit fraud’

Sam Bankman-Fried says he ‘didn’t ever try to commit fraud’

NEW YORK, Nov 30 (Reuters) – Sam Bankman-Fried, the founder and former CEO of now-bankrupt crypto exchange FTX, attempted to distance himself from suggestions of fraud in his first public appearance since his company’s collapse stunned investors and left creditors facing losses totaling billions of dollars. Speaking via video link at the New York Times’ … Read more

The yuan’s the new dollar as Russia rides to the redback

The yuan’s the new dollar as Russia rides to the redback

Russia turns to the Chinese currency amid sanctions Moscow becomes No.4 offshore trading center for yuan Yuan’s share of Russian FX market jumps from 1% to 45% Russian central bank supports trend but warns of risks This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW/SHANGHAI, Nov … Read more

NBA champion Golden State Warriors are sued over FTX collapse

NBA champion Golden State Warriors are sued over FTX collapse

Nov 21 (Reuters) – The Golden State Warriors were sued on Monday by an FTX customer who accused the reigning National Basketball Association champions of fraudulently promoting the now-bankrupt cryptocurrency exchange. Elliott Lam, a Canadian citizen and Hong Kong resident, filed his proposed class-action lawsuit in San Francisco federal court on behalf of “thousands, if … Read more

FTX’s Sam Bankman-Fried cashed out $300 million during funding spree – WSJ

FTX’s Sam Bankman-Fried cashed out 0 million during funding spree – WSJ

Nov 18 (Reuters) – FTX founder Sam Bankman-Fried sold a stake in the company worth $300 million when the crypto exchange raised capital last year, the Wall Street Journal reported on Friday, citing the firm’s financial records and people familiar with the transaction. At the time, Bankman-Fried told investors it was a partial reimbursement of … Read more

Factbox: From Binance to Voyager, crypto firms’ exposure to FTX is coming to light

Factbox: From Binance to Voyager, crypto firms’ exposure to FTX is coming to light

LONDON, Nov 14 (Reuters) – After major crypto exchange FTX filed for US bankruptcy protection on Friday, the crypto industry is bracing for further fallout. Some of FTX’s investors have said they are writing their investment down to zero. Other crypto firms may be exposed to FTX by having held tokens on the exchange or … Read more

FTX collapse being scrutinized by Bahamas investigators

FTX collapse being scrutinized by Bahamas investigators

Nov 13 (Reuters) – The collapse of FTX is the subject of scrutiny from investigators in the Bahamas, who are looking at whether any “criminal misconduct occurred,” the Royal Bahamas Police said on Sunday. FTX filed for bankruptcy on Friday, one of the highest profile crypto blowups, after traders rushed to withdraw $6 billion from … Read more

UK’s Hunt says he has to raise taxes to fix economy

UK’s Hunt says he has to raise taxes to fix economy

UK finance minister says tax rises are coming ‘You have to do what is right for the country’ – Hunt New forecasts will show recession coming Priority is to bring down inflation – Hunt LONDON, Nov 12 (Reuters) – British finance minister Jeremy Hunt said he will have to raise taxes in next week’s budget … Read more

Alameda, FTX executives knew crypto exchange was using customer funds – WSJ

Alameda, FTX executives knew crypto exchange was using customer funds – WSJ

Nov 12 (Reuters) – FTX-affiliated crypto trading firm Alameda Research’s Chief Executive Officer Caroline Ellison and senior FTX officials knew that the crypto exchange had lent Alameda its customer funds to help meet liabilities, the Wall Street Journal reported on Saturday. Reuters reported Friday that FTX founder and former CEO Sam Bankman-Fried had secretly transferred … Read more

Lula’s honeymoon with Brazil markets ends amid spending plan fears

Lula’s honeymoon with Brazil markets ends amid spending plan fears

BRASILIA, Nov 10 (Reuters) – Brazilian President-elect Luiz Inacio Lula da Silva’s brief honeymoon with financial markets looked finished on Thursday, as he pushed for more room to grow social spending without setting long-term fiscal rules or naming his top economic policymakers . Brazil’s currency and benchmark Bovespa stock index (.BVSP), which rose last week … Read more

Buffett’s Berkshire loses money as stocks, Hurricane Ian offset rising demand

Buffett’s Berkshire loses money as stocks, Hurricane Ian offset rising demand

Nov 5 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Saturday posted a $2.69 billion third-quarter loss as rising inflation, falling stock investments and a big loss from Hurricane Ian offset improvement in many of the conglomerate’s businesses. Operating profit nevertheless rose by 20%, topping analyst forecasts. Berkshire benefited from increased demand and prices … Read more