The battled cryptocurrency exchange FTX declared Chapter 11 bankruptcy. CEO Sam Bankman-Fried resigned from his leadership position at the helm of the company, passing on the CEO role to John J. Ray III, a lawyer experienced with leading companies such as Enron Corp. through bankruptcies.
What just happened? Elon Musk and his companies are doubtlessly used to being hit with lawsuits, but this one is probably the largest and perhaps most unusual they’ve had to deal with. Musk, Tesla, and SpaceX are all being sued for $258 billion—not millions—over claims they ran a pyramid scheme to support Dogecoin, a cryptocurrency Musk has often praised on Twitter.
It has tasked the stock market supervisor with authorising mass campaigns and ensuring investors are aware of risks associated with crypto assets as part of
Bitcoin tested the $40,000 level again Tuesday, just ahead of the Federal Reserve Open Market Committee meeting Wednesday. Altcoins followed, but retraced some of their
Everyone is going to hate me for this, but I love everything about crypto except the main reason for its establishment: “decentralization“, the concept that
