FTX-linked Alameda Research CEO Caroline Ellison: What to know
Some attention has turned toward Caroline Ellison over her position as CEO of the FTX-linked trading firm Alameda Research amid the rapid collapse of FTX.
Iranian-backed hackers compromise federal government network to mine cryptocurrency
Iranian-backed hackers broke into the network of a U.S. federal government agency and used that access to install cryptocurrency mining software, CISA said.
FTX’s Bahamas liquidators reject ‘validity’ of US bankruptcy proceedings
Liquidators for FTX filed a petition to a New York court, rejecting the validity of US bankruptcy proceedings, arguing that Bahamanian law takes precedent.
Ken Griffin on FTX: 'One of the absolute travesties' for financial markets
Billionaire investor Ken Griffin, the founder and CEO of multinational hedge fund Citadel, warned that the collapse of cryptocurrency giant FTX could weaken confidence in financial markets at large and hurt the ability of younger investors to save for retirement.
US may extradite Sam Bankman-Fried amid FTX collapse investigation
The U.S. may request Sam Bankman-Fried's extradition from the Bahamas for questioning regarding the collapse of FTX.
SEC's Hester Peirce on FTX implosion: Crytpo regulation talks coming to Washington
SEC commissioner Hester Peirce analyzes the FTX collapse and reveals how quickly cryptocurrency regulatory policy will come on 'The Claman Countdown.'
FTX collapse sparks call by Janet Yellen for 'more effective' cryptocurrency oversight
The downfall of crypto exchange FTX has created the need for additional oversight of the digital asset marketplace, according to Treasury Secretary Janet Yellen
Kraken chief legal officer identifies the 'lesson' following FTX fallout
Kraken Chief Legal Officer Marco Santori discusses the FTX meltdown and the impact it's had on the cryptocurrency industry on 'Cavuto: Coast to Coast.'
Sam Bankman-Fried’s FTX crypto collapse stems from ‘broken’ markets, tech entrepreneur says
AVA Labs President John Wu weighs in on the disastrous collapse of cryptocurrency exchange FTX and the widespread impact it will have on the markets.
Ben Armstrong on FTX meltdown: There are so many rabbit holes here
BitBoy Crypto founder provides insight on the state cryptocurrency following the FTX crash on 'Making Money.'
Maxine Waters dodges question on FTX, Democrat ties and claims 'both sides' got money
Rep. Maxine Waters said she didn't "want to get into" whether Democrats who received campaign cash from FTX should give it back after the crypto exchange's bankruptcy.
Class-action lawsuit filed against FTX, founder Sam Bankman-Fried
Bankman-Fried was hit with a class-action lawsuit filed by investors alleging he and other high-profile celebrities violated Florida law and made consumers suffer more than $11 billion in damages.
Consumers’ trust for crypto is ‘sapping out’: John Wu
AVA Labs President John Wu weighs in on the widespread impact of the FTX fallout and how that will impact the largely mistrusted crypto markets on ‘Cavuto: Coast to Coast.’
Fundamentals of Bitcoin are still ‘very strong’: Crypto investor Evan Luthra
Entrepreneur and crypto investor Evan Luthra discusses the cryptocurrency market following the catastrophic collapse of FTX, which resulted in a $2 million loss for Luthra.
FTX founder Sam Bankman-Fried hit with class-action lawsuit that also names Brady, Bündchen, Shaq, Curry
Tom Brady, Stephen Curry and Naomi Osaka are among the celebrities named in a new class action lawsuit against Sam Bankman-Fried's collapsed crypto trading company FTX.
House lawmakers to probe FTX collapse in December hearing
The House Financial Services Committee will hold hearings on the collapse of cryptocurrency exchange FTX in December, lawmakers announced Wednesday.
Maxine Waters dodges question about Democrats' FTX ties
Democrats' ties to FTX taint oversight efforts. FOX Business' Hillary Vaughn with more on the crypto exchange company's collapse.
Genesis crypto lending arm suspends customer withdrawals after FTX meltdown
The lending arm of crypto broker Genesis Global Trading says it has suspended its redemptions and new loan originations following the collapse of crypto market FTX.
Crypto has ‘always been fake’: Ryan Payne
Payne Capital Management president Ryan Payne and Slatestone Wealth chief market strategist Kenny Polcari discuss the impact the downfall of cryptocurrency exchange FTX will have on the U.S. stock markets.
Will FTX's bankruptcy spill into the general economy like Lehman Brothers?
The bankruptcy of FTX is expected to trigger more failures among cryptocurrency companies but whether those failures spill into the general economy is still undetermined.
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.