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BUSINESS

EXCLUSIVE Bankman-Fried’s FTX, parents bought Bahamas property worth $121 mln

FTX unit bought 7 condos in high-end resort for “key personnel” Bankman-Fried’s parents named owners of $16.4 mln vacation home Bankman and Fried tell Reuters: Seeking to return deed to FTX NEW PROVIDENCE, Bahamas, Nov 22 (Reuters) – Sam Bankman-Fried’s FTX, his parents and senior executives of the failed cryptocurrency exchange bought at least 19 […]

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BUSINESS

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 […]

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Latest-News

EXCLUSIVE Brittney Griner taken to penal colony in Russia’s Mordovia region – source

Nov 17 (Reuters) – U.S. basketball star Brittney Griner has been taken to a penal colony in the Russian region of Mordovia, a source familiar with the case told Reuters on Thursday. In August, Griner was sentenced to nine years in a penal colony on drugs charges following her arrest at a Moscow airport in […]

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BUSINESS

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 […]

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BUSINESS

Exclusive: Behind FTX’s fall, battling billionaires and a failed bid to save crypto

Nov 10 (Reuters) – (This story contains language some readers may find offensive in paragraph 2) On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message. “I’m sorry,” he told them. “I fucked up.” The reason for the mea culpa: His announcement half an hour earlier that […]

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BUSINESS

Exclusive: Nvidia offers new advanced chip for China that meets U.S. export controls

OAKLAND, Calif., Nov 7 (Reuters) – U.S. chip maker Nvidia Corp (NVDA.O) is offering a new advanced chip in China that meets recent export control rules aimed at keeping cutting-edge technology out of China’s hands, the company confirmed on Monday. Nvidia responded to Reuters’ reporting that Chinese computer sellers are advertising products with the new […]

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BUSINESS

Crypto exchange Binance helped Iranian firms trade $8 billion despite sanctions

$7.8 bln of trades were via Iran’s biggest crypto exchange Nobitex Revelations come amid U.S. Justice Department probe into Binance Binance says is not a U.S. company, but has taken proactive steps to limit exposure to the Iranian marketplace LONDON, Nov 4 (Reuters) – Crypto giant Binance has processed Iranian transactions with a value of […]

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BUSINESS

Exclusive: Tesla plans mass production start for Cybertruck at end of 2023

Nov 1 (Reuters) – Tesla (TSLA.O) aims to start mass production of its Cybertruck at the end of 2023, two years after the initial target for the long-awaited pickup truck Chief Executive Elon Musk unveiled in 2019, two people with knowledge of the plans told Reuters. Tesla said last month that it was working on […]

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BUSINESS

Exclusive: Tesla faces U.S. criminal probe over self-driving claims

Oct 25 – Tesla Inc (TSLA.O) is under criminal investigation in the United States over claims that the company’s electric vehicles can drive themselves, three people familiar with the matter said. The U.S. Department of Justice launched the previously undisclosed probe last year following more than a dozen crashes, some of them fatal, involving Tesla’s […]

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BUSINESS

Exclusive: China FX regulator surveys banks about positioning as yuan plunges

SHANGHAI/BEIJING, Oct 25 (Reuters) – China’s foreign exchange regulator sent a survey to some banks late on Monday asking them about their positioning in the currency market, three sources with direct knowledge of the matter told Reuters. The survey comes at a time when China’s yuan is hitting its weakest levels since the global financial […]

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