FINS

BUSINESS

Musk says Twitter to hold off relaunching blue check verification

Nov 21 (Reuters) – Twitter’s new owner Elon Musk said on Monday the social media company is holding off the relaunch of its blue check subscription service, a delay from his initial tentative timeline to bring back the service on the platform. “Holding off relaunch of Blue Verified until there is high confidence of stopping […]

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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

Crypto lender Genesis says no immediate plans to file for bankruptcy

Nov 21 (Reuters) – Cryptocurrency lender Genesis said on Monday it has no immediate plans to file for bankruptcy, days after the collapse of crypto exchange FTX forced it to suspend customer redemptions. “We have no plans to file bankruptcy imminently. Our goal is to resolve the current situation consensually without the need for any […]

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BUSINESS

Collapsed FTX owes nearly $3.1 billion to top 50 creditors

Nov 20 (Reuters) – Cryptocurrency exchange FTX, which has filed for U.S. bankruptcy court protection, said it owes its 50 biggest creditors nearly $3.1 billion. The exchange owes about $1.45 billion to its top ten creditors, it said in a court filing on Saturday, without naming them. FTX and its affiliates filed for bankruptcy in […]

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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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ENTERTAINMENT

Australia’s Nitro blocks Potentia’s access to books without better offer

Nov 18 (Reuters) – Australia’s Nitro Software Ltd (NTO.AX) said on Friday it would not allow its largest shareholder and suitor Potentia Capital access to its books without making a superior bid that could trump an offer made by KKR Inc’s (KKR.N) Alludo. The software provider earlier this week determined the near A$500 million ($335 […]

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BUSINESS

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

Nov 11 (Reuters) – Sam Bankman-Fried earned a reputation as 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 assets […]

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BUSINESS

Hedge fund Galois Capital says half its capital stuck on FTX exchange -FT

Nov 12 (Reuters) – Galois Capital is the latest hedge fund caught off guard after close to half its assets were trapped on collapsed crypto exchange FTX, the Financial Times said on Saturday, estimating the amount to be around $100 million. Galois co-founder Kevin Zhou wrote to investors in recent days that while the fund […]

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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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ENTERTAINMENT

Japan’s SoftBank books hefty Vision Fund loss but returns to quarterly profit

TOKYO, Nov 11 (Reuters) – Japan’s SoftBank Group Corp (9984.T) announced a hefty loss at its Vision Fund investment arm for the third straight quarter, even as the company itself posted its first quarterly profit in as many quarters. Investment losses at the Japanese tech firm’s flagship Vision Fund unit totalled 1.38 trillion yen ($9.75 […]

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