US probes how $370 million vanished in hack after FTX bankruptcy
DOJ in a case separate from the fraud case, for which SBF was extradited to the US for, is looking for $370 million in missing funds from the bankrupt FTX.
Crypto had a volatile year with plummeting prices and exchanges collapsing. What's next?
Cryptocurrency prices plummeting, the fallout of large exchanges such as FTX and a steep decline in NFT transactions represent a turbulent year for crypto.
Bankman-Fried case reassigned because judge's husband has ties to FTX
The criminal case concerning disgraced cryptocurrency mogul Sam Bankman-Fried has been reassigned due to a conflict of interest stemming from ties to FTX.
Investor Calvin Tsai on investing in cryptocurrency despite major losses due to FTX collapse
Calvin Tsai, a crypto investor who lost $1.3 million during the FTX collapse, discusses why he hasn't shied away from investing in cryptocurrency.
FTX sheds light on possible regulatory holes as lawmakers look to crack down on crypto
Brown Rudnick partner Hailey Lennon discusses the possible regulatory holes brought to light by FTX's collapse and lawmakers' push for increased crypto regulations.
Sam Bankman-Fried goes home after posting $250 million bond
Fox News contributor Mary O’Grady discusses FTX CEO Sam Bankman-Fried heading home for the holidays after posting $250 million bond on ‘Fox Business Tonight.’
Ex-Alameda CEO Caroline Ellison says she and Sam Bankman-Fried misled FTX investors in court plea
Former Alameda Research CEO Caroline Ellison said she knowingly FTX misled lenders.
Mark Cuban weighs in on gold and bitcoin, says both 'a store of value'
Billionaire Mark Cuban offered his thoughts on gold and bitcoin in an upcoming podcast episode with Bill Maher, saying they both are both a "store of value."
How did Bankman-Fried secure $250M bail?
FTX Founder Sam Bankman-Fried secured a $250 million bail against his parents' home in Palo Alto California as he awaits trial, likely more than a year away.
M13's Courtney Reum on IPO market: Looking to deploy cash more aggressively in 2023
M13 co-founder and partner Courtney Reum discusses the weak condition of the IPO market on 'The Claman Countdown.'
Bitcoin bubble researcher sees short term price stability
Bitcoin is in a period of relative stability, trading above $16,000, though researchers say the coin's youth does not provide a lot of data to forecast price movements.
FTX seeks approval to pay bankruptcy lawyers between $825 and $2,165 an hour
FTX filed for approval for retaining counsel, forensic investigation consultants and accountants, revealing details about the rates the crypto-exchange could pay.
Sam Bankman-Fried is facing significant jail time: Bernie Madoff's former lawyer Ira Lee Sorkin
Mintz & Gold partner and former Madoff lawyer Ira Lee Sorkin discusses Sam Bankman-Fried's legal troubles and what's next for him and his cronies on 'The Claman Countdown.'
Marta Belcher: There is a misconception the cryptocurrency world isn't regulated
Civil liberties and cryptocurrency attorney Marta Belcher and Ironsides Macroeconomics managing partner Barry Knapp react to the FTX scandal and weigh in on the state of the economy on 'Making Money.'
Tom Fitton: Sam Bankman-Fried thought he could do no wrong
Judicial Watch president Tom Fitton reacts to FTX founder Sam Bankman-Fried being released on bail on 'Making Money.'
Judge allows FTX founder Sam Bankman-Fried to be released on $250M bond to parents' Palo Alto home
FTX founder Sam Bankman-Fried, who is awaiting trial on fraud charges, can can post $250 million bond and live in his parents' home in California, a judge said Thursday.
Sam Bankman-Fried has 'dug himself a very big hole': Darragh Grove-White
FTX investor and digital marketing strategist Darragh Grove-White argues while Sam Bankman-Fried entered the market as a crypto pioneer, his 'altruism' got the best of him.
Associates of FTX founder Sam Bankman-Fried plead guilty to wire fraud, other charges filed by SEC
Caroline Ellison, the former Alameda Research CEO, and Zixiao Wang, former Chief Technology Officer of FTX Trading LTD, pleaded guilty to charges filed by the SEC amid FTX's collapse.
FTX founder Sam Bankman-Fried lands in New York following extradition from Bahamas
FTX founder Sam Bankman-Fried landed in New York Wednesday night, following his extradition from the Bahamas. He faces multiple criminal charges following FTX's collapse.
SEC charges two former FTX associates for roles in crypto exchange's collapse
The SEC charged Caroline Ellison of Alameda Research and Gary Wang of FTX Trading LTD for their roles in the collapse of the crypto exchange FTX.
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.