Senators slam Sam Bankman-Fried for refusing to testify before banking panel on FTX collapse
Senators Sherrod Brown and Pat Toomey said ex-FTX CEO Sam Bankman-Fried declined to testify at a committee hearing in "an unprecedented abdication of accountability."
FTX founder Sam Bankman-Fried arrested in Bahamas, US expected to request extradition, authorities say
Bahamian authorities on Monday arrested Sam Bankman-Fried, disgraced founder of the cryptocurrency exchange, FTX, after the US filed charges against him.
Binance pushes back on ‘wrong' report about potential charges by DOJ
Prosecutors from the Department of Justice are investigating cryptocurrency exchange Binance and its executives for alleged money laundering and sanctions violations, Reuters reported.
FTX ex-CEO Sam Bankman-Fried says he wants to start a new business
Sam Bankman-Fried, the disgraced founder of the failed crypto-exchange FTX, says he wants to start a new business to help his investors make back the money they lost in the crash.
Ben Levisohn: Doubtful the US economy will see soft landing
Ben Levisohn, Carleton English and Jack Hough discuss dropping stocks ahead of the December Fed meeting, bank CEOs warning of a recession and Gamestop dropping crypto on ‘Barron’s Roundtable.’
Tommy Tuberville on regulating cryptocurrency: 'We don't need crypto exchanges moving to other countries'
Sen. Tommy Tuberville, R-Ala., criticizes military leadership under President Biden and comments on regulating cryptocurrency in the United States on 'Kudlow.'
The market is about cheap money and liquidity: Jim Bianco
Bianco Research president analyzes buy signals in the stock market and the FTX collapse on 'Making Money.'
FTX founder Sam Bankman-Fried says he’s willing to testify before House committee
Former FTX CEO Sam Bankman-Fried tweeted early Friday morning that he does not have access to "much of his data," meaning potential testimony would be limited.
Justin Bieber, Madonna, Adidas and more named in class action cryptocurrency lawsuit
Gwyneth Paltrow, The Weeknd and Steph Curry were also named in the class action lawsuit filed Thursday against blockchain start-up, Yuga Labs, Inc.
FTX collapse 'not an indictment of the whole' crypto industry: Robert Mowry
Rekt Tech partner Robert Mowry joins 'Cavuto: Coast to Coast' to discuss his conversation with FTX's Sam Bankman-Fried and the investigation into the collapse of FTX.
Kevin Paffrath on FTX collapse: I think it is important creators talk about this and learn from mistakes
'Meet Kevin' financial analyst and YouTuber gives his take on the FTX collapse on 'Making Money.'
Kevin O’Leary explains how he went from calling crypto ‘garbage’ to the ‘murder’ of his money in FTX collapse
"Shark Tank" judge Kevin O’Leary revealed that he lost millions after FTX collapsed, even though he also claimed he would invest in Sam-Bankman Fried again.
Elizabeth Warren wants regulators to investigate bank ties to cryptocurrency
Senate Democrats are pressing financial regulators to look at the links between small banks and big cryptocurrency firms in the aftermath of FTX's collapse.
Early bitcoin investor Nikki Beesetti 'not purchasing any more crypto' after FTX collapse
Early cryptocurrency investor Nikki Beesetti says in the future, she plans to cash out her crypto assets early to 'reap the benefits and rewards.'
For FTX customers, IRS Ponzi rules loom large
Tax expert says FTX customers should get guidance from the IRS in 2023 on how to report losses from Sam Bankman-Fried's bankrupt cryptocurrency exchange to avoid amending tax returns.
House Finance Chair Rep. Maxine Waters subpoena of Sam Bankman-Fried over FTX collapse 'on the table'
Maxine Waters, chairwoman of the House Financial Services Committee, does not plan to subpoena FTX CEO Sam Bankman-Fried to testify next week in Washington, according to reports.
Kim Kardashian, Floyd Mayweather crypto lawsuit dismissed
Kim Kardashian and Floyd Mayweather Jr. were just two of the celebrities sued for allegedly promoting EMax cryptocurrency as part of a scheme to drive up prices.
Accounting red flags are common among public crypto companies
Accounting issues that brought down major crypto firms like FTX and Celsius, exist in firms weathering the crypto contagion such as Marathon and Riot Blockchain.
Kevin O'Leary slammed for response to FTX collapse
Grit Capital CEO Genevieve Roch-Decter gives her take on investor-entrepreneur Kevin O'Leary's response to the FTX scandal on 'Making Money.'
Is Sam Bankman-Fried going to jail for FTX meltdown?
Former U.S. Justice Department fraud section federal prosecutor David Maria discusses the legal consequences of Sam Bankman-Fried's alleged fraud on 'Cavuto: Coast to Coast.'
Cryptocurrency FAQs
What is Cryptocurrency?
Cryptocurrency, or crypto, is a form of digital asset that is secured by cryptography and the blockchain. The most notable example of a cryptocurrency is bitcoin, though thousands of other similar assets exist. Cryptocurrencies are regarded by many as the money tech of the future due to their accessibility and un-censorable nature.
How do cryptocurrencies work?
Cryptocurrency networks, or blockchains, are independently verified by a matrix of computers that record all transactions and ensure a consensus throughout the chain. This means that all network information is recorded immutably and permanently; transactions cannot be prevented, blocked, or changed. Network participants can thus trust each other and transact without the need for a centralized intermediary.
How can I buy a cryptocurrency?
There are many markets for cryptocurrencies where you can exchange USD for the cryptocurrency of your choice. These include centralized exchanges and services such as Coinbase and PayPal, or decentralized alternatives like UniSwap where you can swap between crypto-assets. To use a centralized exchange, you’ll need to submit personal information such as your passport or driver’s license. Note that the price of digital assets can change rapidly, so timing your purchases well is essential.
Where can I keep my crypto coins?
Cryptocurrencies can usually be held with the exchange or business you bought them from. However, as these exchanges can be hacked, it is advisable to move your assets to your own personal wallet. These wallets are more secure and can be accessed from your laptop, phone, or other mobile devices.
What can I buy with crypto?
Real work adoption of crypto is still ongoing. However, more businesses are accepting crypto and you can buy goods and services as diverse as real estate, stocks, travel, gambling, websites, and much more. This trend should continue over time as cryptocurrencies become better known, accepted and trusted.
Pros and cons of investing in a cryptocurrency
You may have read the news that crypto has broken all-time highs recently. This is the main advantage, that we are early in the asset’s history and prices have generally gone rapidly upwards. However, you should be aware that volatility is significant and you can similarly lose money quickly if your timing is poor. Security is also a major issue and you must ensure you secure your crypto and transactions well or you could become a victim of theft or fraud.