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

HSBC eyes bumper dividend from $10 bln sale of Canada unit to RBC

HSBC eyes bumper dividend from $10 bln sale of Canada unit to RBC

Deal comes amid pressure from Chinese shareholder Analysts hail ‘sensitive’ transaction Bank could return deal proceeds to shareholders LONDON/TORONTO/NEW YORK, Nov 29 (Reuters) – HSBC (HSBA.L) has agreed to sell its business in Canada to Royal Bank of Canada (RY.TO) for C$13.5 billion ($10 billion) in cash, paving the way for a potential bumper payout … Read more

Crypto lender BlockFi files for bankruptcy in New Jersey

Crypto lender BlockFi files for bankruptcy in New Jersey

Filing follows weeks after FTX collapse FTX listed as BlockFi’s No.2 creditor Bitcoin down over 70% from 2021 peak Nov 28 (Reuters) – Major cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy protection along with eight affiliates, it said on Monday, the latest crypto casualty to follow the spectacular collapse of the FTX exchange … Read more

Women sue Deutsche Bank, JPMorgan over Epstein ties

Women sue Deutsche Bank, JPMorgan over Epstein ties

Nov 24 (Reuters) – Women who have accused Jeffrey Epstein of sexual abuse filed lawsuits against Deutsche Bank AG (DBKGn.DE) and JPMorgan Chase & Co (JPM.N) on Thursday, alleging the banks financially benefited from the late financier’s alleged sex trafficking operations. The women, who were not identified in the court filings, cite US federal anti-sex … Read more

FTX fires three of its top executives – WSJ

FTX fires three of its top executives - WSJ

Nov 18 (Reuters) – Cryptocurrency exchange FTX, which recently filed for US bankruptcy court protection, has fired three of its top executives, including co-founder Gary Wang, the Wall Street Journal reported on Friday, citing an FTX spokeswoman. The other fired executives were engineering director Nishad Singh and Caroline Ellison, who ran FTX’s trading arm Alameda … Read more

Exclusive: How FTX bought its way to become the ‘most regulated’ crypto exchange

Exclusive: How FTX bought its way to become the 'most regulated' crypto exchange

FTX bought a 10% stake in IEX with an option to acquire 100% FTX spent $2 billion on ‘acquisitions for regulatory purposes’ Documents show FTX saw its regulatory status as a way of luring new capital from major investors Nov 18 (Reuters) – Before it collapsed this month, FTX stood apart from many rivals in … Read more

Trump’s 2024 presidential bid a fresh wrinkle for markets

Trump's 2024 presidential bid a fresh wrinkle for markets

NEW YORK, Nov 16 (Reuters) – Former President Donald Trump’s entry on Tuesday into the 2024 presidential race confirmed the world’s “worst kept secret” and created another variable for markets that some investors say remains a low priority for now. Trump, who has mounted relentless attacks on the integrity of US voting since his 2020 … Read more

Musk’s all-nighters at Twitter raise concern for Tesla investors

Musk's all-nighters at Twitter raise concern for Tesla investors

SAN FRANCISCO, Nov 15 (Reuters) – In 2018, Elon Musk was working through the night and sleeping at Tesla Inc’s (TSLA.O) factories in California and Nevada as the company struggled to ramp up production of the Model 3. On Monday, Musk said he had worked through the night at Twitter’s San Francisco headquarters and would … Read more

Sam Bankman-Fried’s sudden turn from white knight to washout

Sam Bankman-Fried's sudden turn from white knight to washout

Nov 11 (Reuters) – Sam Bankman-Fried earned a reputation as a savior of the crypto industry when he bailed out two platforms earlier this year. But when FTX, the exchange he co-founded and led until Friday, needed a lifeline, none was forthcoming. Until this week, the 30-year-old American was seen as a darling in digital … Read more

EXCLUSIVE At least $1 billion of client funds missing at failed crypto firm FTX – sources

EXCLUSIVE At least $1 billion of client funds missing at failed crypto firm FTX – sources

FTX founder Bankman-Fried secretly moved $10 billion in funds to trading firm Alameda – sources Bankman-Fried showed spreadsheets to colleagues that revealed shift in funds to Alameda – sources Spreadsheets indicated between $1 billion and $2 billion in client money is unaccounted for – sources Executives set up book-keeping “back door” that thwarted red flags … Read more