FTX blowout puts CFTC head in crosshairs
Attention has turned to Commodity Futures Trading Commission Chairman Rostin Behnam amid the collapse of FTX as he prepares to face lawmakers Thursday.
FTX's Sam Bankman-Fried appears to shift blame in NYT interview
IDX Digital Assets CIO Ben McMillan discusses FTX founder Sam Bankman-Fried's interview with The New York Times on 'The Evening Edit.'
Bitcoin is the safest cryptocurrency: Layah Heilpern
Bitcoin expert Layah Heilpern joined 'Kennedy' to discuss the strength of cryptocurrency after the collapse of FTX.
FTX founder Sam Bankman-Fried took questions about company collapse: 'We messed up big'
Sam Bankman-Fried took questions at the DealBook Summit on Wednesday regarding the collapse of FTX, the now-bankrupt cryptocurrency exchange he founded.
Ex-FTX boss Bankman-Fried speaks at NYT event
Tennessee Sen. Marsha Blackburn shares her thoughts on the FTX collapse and the fintech industry on ‘Fox Business Tonight.’
BlackRock's Fink says crypto technology still relevant despite FTX
Larry Fink, CEO of BlackRock, blames FTX's collapse on "misbehaviors" not on cryptocurrency itself. Says he believes crypto tech will drive the future
Kraken cuts 1,100 workers in 'crypto winter'
Cryptocurrency exchange Kraken on Wednesday announced it is cutting its workforce by 30% as part of efforts to weather what it called a 'crypto winter.'
John Deaton on Sam Bankman-Fried FTX scandal: There is enough information to arrest now
Crypto Law founder gives his take on the FTX meltdown on 'Making Money.'
FTX’s Alameda Research owes Jimmy Buffett’s Margaritaville, Amazon Web Services
Sam Bankman-Fried's hedge fund Alameda Research lists Jimmy Buffett's Margaritaville Resort in the Bahamas and Amazon Web Services as two of the largest creditors it owes money to, according to bankruptcy filings.
Former FBI agents weigh in on FTX investigation, Sam Bankman-Fried's possible extradition
Former FBI agents told FOX Business that federal investigators are likely scouring all bank information and public statements related to FTX collapse.
Sam Bankman-Fried says he has $100K left in bank account after FTX collapse
Former FTX CEO Sam Bankman-Fried has revealed that he now has $100,000 in his personal bank account after once being valued at $26.5 billion, a report says.
Early Alameda staffers quit after battling Sam Bankman-Fried over risk, compliance concerns
The employees worked at Alameda Research, and were some of Bankman-Fried's earliest colleagues, including Alameda’s co-founder, Tara Mac Aulay. Both FTX and Alameda are now bankrupt.
FTX founder Sam Bankman-Fried's 'PR blitz' blasted by critics
IDX Digital Assets chief investments officer Ben McMillan discusses Sam Bankman-Fried speaking at the New York Times conference amid FTX fallout.
Texas legislature calls FTX founder to testify in Feb. 2023 hearing
The Texas State Security Board scheduled a hearing and requested FTX founder Sam Bankman-Fried to testify about violations to the state Securities Act.
FTX crypto contagion continues after BlockFi bankruptcy
Fears of contagion in cryptocurrency markets continue to grow after BlockFi filed for bankruptcy on Monday due to the company's financial ties to failed exchange FTX.
BlockFi's bankruptcy exit plan
Bankrupt cryptolender BlockFi filed a plan of reorganization that contemplates emerging as a reorganized company but says it's also open to selling its assets.
BNB Chain NFTs launching on Opensea marketplace
Opensea will begin listing non-fungible tokens (NFTs) from BNB Chain, one of the world’s largest smart contract-enabled blockchains, allowing users to buy and sell NFTs seamlessly on Opensea’s platform.
FTX founder Sam Bankman-Fried quietly purchased major Democratic data firm
FTX founder Sam Bankman-Fried reportedly bought a major Democratic voter analytics software company over the summer, chasing away the firm's other investors.
BlockFi makes first appearance in bankruptcy court
Founded by fintech executive-turned-crypto entrepreneur Zac Prince, the company said its bankruptcy stemmed from its substantial exposure to FTX and broader turmoil in crypto markets.
FTX collapse has nothing to do with crypto, ‘zero reason’ for regulation: Jim Iuorio
TJM Institutional Services managing director Jim Iuorio discusses what’s next for the cryptocurrency industry, with the FTX collapse prompting new calls for regulation.
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.