First hearing in FTX bankruptcy filing underway
FOX Business' Kelly O'Grady discusses key points from the FTX bankruptcy filing as the hearing remains ongoing.
FTX bankruptcy case a 'mess': Matt Whitaker
Former Acting AG Matt Whitaker discusses the aftermath of the FTX collapse and the GOP using their majority to secure the border on 'Cavuto: Coast to Coast.'
FTX, Bankman-Fried's parents, senior execs bought $121M worth of Bahamas properties: report
Property records in the Bahamas indicate that Sam Bankman-Fried's FTX, his parents and senior executives went on a real estate buying spree, a report says.
FTX founder Sam Bankman-Fried: What to know about the ex-crypto exec
Sam Bankman-Fried co-founded the FTX trading platform in May 2019 after launching Alameda Research with friends two years earlier. Here are fast facts about the former crypto executive.
Retailers disclose earnings, possible rail strike, Fed minutes and more: Tuesday's 5 things to know
Events to watch heading into Tuesday include 3Q earnings reports by retailers, Wednesday's Federal Reserve minutes release and a possible rail strike update.
FTX bankruptcy pits US vs. Bahamas in battle for billions
A Delaware judge will hear a motion Tuesday seeking to transfer the Chapter 15 case filed by provisional liquidators in the Bahamas to the jurisdiction of the Delaware bankruptcy court.
Rep. Dusty Johnson: Sam Bankman-Fried is a 'con man'
South Dakota Rep. Dusty Johnson breaks down the importance of regulators in Congress in the aftermath of FTX's collapse on 'The Evening Edit.'
Bob Iger returns as head of Walt Disney company
Former investment banker Carol Roth discusses CEO Bob Iger’s return to Disney and if there will continue to be an emphasis on activism in the company under his leadership on ‘Fox Business Tonight.’
FBI arrests two Estonian men in $575M crypto fraud, money laundering scheme
Two Estonian citizens were arrested by the FBI on Sunday in a $575 million cryptocurrency fraud scheme that affected hundreds of thousands of people.
Golden State Warriors sued by FTX customer following crypto exchange's collapse
The Golden State Warriors have been named in a class-action lawsuit filed by an FTX customer seeking damages from the cryptocurrency's collapse. The Warriors had FTX as a platform.
FTX fallout: How long will crypto regulation take?
Floating Point Group co-founder Kevin March discusses if cryptocurrencies can prove to be a valid business model after the FTX scandal on 'The Claman Countdown.'
Wall Street poised to rally in short-term: George Ball
Tortoise portfolio manager Rob Thummel and Sanders Morris Harris chairman George Ball discuss where investors can find opportunity in a volatile market on 'The Claman Countdown.'
Why the investing pros were such suckers for FTX
Dozens of the world’s leading investment firms, including Sequoia Capital, SoftBank Group Corp., and hedge funds Third Point and Tiger Global, showered Sam Bankman-Fried with money.
Bitcoin is getting stronger and stronger every day: Jeff Booth
Entrepreneur Jeff Booth provides insight on investing in Bitcoin on 'Making Money.'
Fallen FTX boss spent lavishly in Bahamas while allegedly misusing customer funds
Sam Bankman-Fried spent a massive amount of money during his year in the Bahamas — before his crypto empire collapsed and declared bankruptcy earlier this month.
Housing bracing for downturn as investors try to get ahead of Fed: Michael Kantrowitz
Piper Sandler chief investment strategist Michael Kantrowitz discusses the health of the U.S. economy and where the housing market heads as the Fed continues to raise rates on 'Mornings with Maria.'
Tesla can sink just like Beyond Meat: Gregg Smith
Evolution VC Partners founder Gregg Smith discusses causes for the decline in Tesla stock and if crypto can recover from the FTX scandal on 'Varney & Co.'
Regulatory expert: FTX 'jurisdiction shopped' to locate in lax regulatory environment
A dispute between two FTX entities is spotlighting the problems of a cryptocurrency industry that has companies in multiple countries and no overall regulation.
Elizabeth Holmes and Sam Bankman-Fried: How wunderkinds go wild
Theranos' Elizabeth Holmes and FTX's Sam Bankman-Fried were two tech entrepreneurs who rose and fell on bad decision-making. Coaching may have prevented disaster.
Cryptocurrency exchange FTX owes more than $3 billion to creditors
Cryptocurrency exchange FTX, which filed for bankruptcy protection last week, said in a court filing that it owes its 50 largest creditors more than $3 billion.
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.