Many of crypto’s greatest defenders abandon the cause amid FTX fallout
Many onetime defenders of cryptocurrency are abandoning the industry after a series of failures that culminated in the spectacular fall of FTX and Sam Bankman-Fried.
FTX founder Sam Bankman-Fried reportedly to agree to extradition, reverse course at next Bahamas court hearing
The ex-cryptocurrency executive Sam Bankman-Fried reportedly is to reverse course at a Bahamas court hearing Monday and stop fighting extradition back to the US to face federal charges.
Democratic campaign committees move to return more than $1 million in donations from FTX's Bankman-Fried
Three major campaign committees that work to elect Democrats to Congress are moving to return more than $1 million in donations they received from Samuel Bankman-Fried.
More arrests possible as Bankman-Fried is behind bars
New York Post columnist Karol Markowicz discusses the scrutiny FTX CEO Sam Bankman-Fried’s inner circle after his arrest on ’Fox Business Tonight.’
Sen. Warren's proposed cryptocurrency bill would be a bullet to financial privacy and not fraud: Natalie Brunell
Coin Stories podcast host Natalie Brunell provides insight on cryptocurrency regulation and Grizzle analyst Margot Rubin reacts to social media influencers being accused of a 'pump and dump' scheme on 'Making Money.'
FTX debtors file bidding procedures motion for sale of four businesses
FTX filed a motion with the Bankruptcy Court seeking approval of bidding procedures to sell four businesses that include Embed, LedgerX, FTX Japan and FTX Europe.
Sam Bankman-Fried 'clearly had other people involved' in FTX fraud: Sujit Raman
TRM Labs general counsel Sujit Raman says it will be 'very difficult' to 'claw' back the money and funds lost by FTX.
FTX in photos: Sam Bankman-Fried's arrest in the Bahamas, new CEO John Ray III testifying and more
Sam Bankman-Fried’s Bahamas arrest and the FTX hearings this week gave us a glimpse at many of the players emerging in this financial collapse which could be bigger than Enron.
FTX's smallest investors may be biggest losers of crypto collapse
The collapse of FTX wiped out the assets of investors large and small, but the young and mom-and-pop investors in the crypto firm will be hardest hit.
FTX files in bankruptcy court to sell four of its businesses
FTX, formerly one of the largest crypto exchanges in the world, is seeking to sell four of its businesses. It submitted a court filing on the matter Thursday.
FTX collapse one of the 'great frauds' and 'tragedies' of our time: Thomas Gorman
Dorsey & Whitney partner Thomas Gorman joins 'Cavuto: Coast to Coast' to discuss the bipartisan bill on crypto money laundering and crypto industry regulations following the FTX collapse.
FTX fraud will make 'Enron look like peanuts': Former US attorney
Former U.S. attorney Guy Lewis weighed in on the hearing into the collapse of FTX.
Sam Bankman-Fried's relatives asked Bahamas prison if he could get vegan meals there: report
Relatives of FTX founder Sam Bankman-Fried have called the prison where he is being held in Nassau, Bahamas, to ask if he could get vegan meals delivered, a report says.
FTX fraud scandal will 'make Enron look like peanuts': Guy Lewis
Former U.S. attorney and prosecutor Guy Lewis reacts to Sen. Elizabeth Warren, D-Mass., and Kevin O'Leary clashing on whether crypto facilitates money laundering.
Brian Kilmeade on SBF: If you're paying off politicians, you know you're doing something wrong
Fox News host Brian Kilmeade slams former CEO Sam Bankman-Fried's actions and thought process behind FTX on 'Kudlow.'
FTX hearing: Warren, O'Leary clash on whether cryptocurrency facilitates money laundering
"Shark Tank" panelist and paid FTX spokesman Kevin O'Leary clashed with Sen. Elizabeth Warren, D-Mass., over proposed anti-money laundering rules for cryptocurrency.
Rep. Warren Davidson on FTX scandal: This was old-fashioned embezzlement
Ohio Republican Rep. Warren Davidson gives his take on how Congress should respond to the FTX collapse on 'Making Money.'
'Wolf of Wall Street' says Sam Bankman-Fried should 'shut up and listen to his lawyers'
“Wolf of Wall Street” investor Jordan Belfort roasted Wall Street brokers for funding Sam Bankman-Fried’s dying crypto empire despite numerous red flags.
Sen. Elizabeth Warren, celebrity investor Kevin O'Leary clash over cryptocurrency, money laundering
Massachusetts Sen. Elizabeth Warren got into a back-and-forth with FTX paid spokesman Kevin O'Leary during a Wednesday hearing over whether cryptocurrency facilitates money laundering.
FTX spox O'Leary says he called SBF and demanded, 'Where is the money, Sam?'
FTX spokesperson Kevin O'Leary described a confrontation he had with Sam Bankman-Fried after FTX's collapse, during a Senate Banking Committee hearing on Wednesday.
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.