Crypto lender Genesis had sought emergency loan of $1 Billion
Crypto lender Genesis sought $1 billion in emergency loan to fend off a bank run, caused by FTX collapse, before suspending redemptions and loan issuance.
Documentary underway on FTX collapse; Oscar nominee directing for award-winning production company
An award-winning documentary company is tapping an Oscar-nominated director for an investigative nonfiction film on the fall on cryptocurrency exchange FTX.
Following FTX's fall, billionaire investor warns of crypto's risky 'Wild West' terrain
The Carlyle Group co-founder and author of 'How to Invest' David Rubenstein analyzes the cryptocurrency space following the catastrophic collapse of FTX.
House Republicans press Blinken on concerns of Ukraine aid being donated to Dems through FTX
Rep. Troy Nehls led a letter to Secretary of State Antony Blinken expressing his and his colleagues' concerns that Ukraine military aid may have been improperly invested in FTX.
Flashback: Bill Clinton hung with Bankman-Fried at $3K Bahamas shindig, called for 'do no harm' regulations
Before FTX went bankrupt, and CEO Sam Bankman-Fried lost his fortune, he moderated a panel with former President Bill Clinton calling for "do no harm" regulations on crypto.
Rep. French Hill on FTX crash: Investors don't know what they are doing in this space
Arkansas Republican Rep. French Hill gives his take on the FTX meltdown on 'Making Money.'
Crypto investor scammed by FTX: 'I made the wrong decision'
Entrepreneur and crypto investor Evan Luthra breaks down the financial loss he suffered from the shocking collapse of the crypto exchange platform, FTX.
Sam Bankman-Fried's professor mother penned 2013 essay shredding 'philosophy of personal responsibility'
The mother of disgraced former-FTX CEO Sam Bankman-Fried penned a 2013 essay saying "it’s time to move past" the "philosophy of personal responsibility."
FTX meltdown could grind crypto investment to a halt: Ann Berry
Threadneedle Ventures founder Ann Berry and Thru the Cycle founder John Lonski discuss how the financial collapse of FTX could ripple through the U.S. economy on 'Cavuto: Coast to Coast.'
Markets made investors believe that FTX was a trusted company: Evan Luthra
Entrepreneur and crypto investor Evan Luthra discusses the downfall of the cryptocurrency exchange platform FTX and the uncertain future of the crypto industry on ‘Cavuto: Coast to Coast.’
Stuart Varney: Influence in Sam Bankman-Fried's family runs deep
FOX Business' Stuart Varney discusses the aftermath of the FTX crypto collapse as it exposes Sam Bankman-Fried's family ties to the Democratic Party.
FTX lawyers say Bankman-Fried's 'incessant and disruptive tweeting' is complicating bankruptcy case
FTX bankruptcy lawyers accuse former CEO Sam Bankman-Fried of complicating their case with "his incessant and disruptive tweeting."
Stuart Varney: Influence in Bankman-Fried family runs deep
FOX Business host Stuart Varney argues Sam Bankman-Fried's family was a powerful force in leftist politics.
Crypto industry is not going away ‘overnight’: David Rubenstein
The Carlyle Group co-founder David Rubenstein provides analysis of the FTX collapse and the U.S. economy as recession fears persist on ‘Mornings with Maria.’
New FTX boss condemns Bankman-Fried for 'complete failure of corporate controls'
John Ray III, the new FTX CEO tasked with investigating the collapse of the crypto exchange, slammed the leadership of predecessor Sam Bankman-Fried.
FTX bankruptcy will offer a look behind crypto’s dark curtain
The bankruptcy of FTX brings cryptocurrency into the courtroom in a way never seen before, creating unprecedented challenges for judges and lawyers.
Sam Bankman-Fried expressed optimism about crypto regulations months before FTX's collapse
The collapse of Sam Bankman-Fried's FTX has drawn attention to his efforts to influence regulations on the crypto industry and his past comments on the subject before his firm folded.
Bitcoin Foundation president: FTX was clearly 'cozy' with government
Wisconsin Rep. Bryan Steil and Bitcoin Foundation president Brock Pierce break down FTX founder Sam Bankman-Fried's donations to the Democratic Party on 'The Evening Edit.'
FTX logo removed from University of California football field
The impact of FTX's bankruptcy on its involvement in sports has begun. The exchange's logo was removed from the University of California's football field.
Here's why FTX's downfall could cause crypto 'contagion'
Decrypt editor-in-chief Daniel Roberts explains what could come next in the fallout from FTX's implosion on 'Fox Business Tonight.'
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.