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.
Here are the Dems who benefited from the left-wing PAC that FTX funneled $27M through
Sam Bankman-Fried, the founder of bankrupt crypto exchange FTX, wired a whopping $27 million to a little-known group that funded a variety of Democratic candidates.
FTX's Sam Bankman-Fried collapse compared to Enron, Madoff
The collapse of cryptocurrency exchange FTX amid reports at least $1 billion in client funds disappeared has prompted comparisons to notorious financial scandals in recent decades.
Genevieve Roch-Decter on FTX meltdown: We need transparency
Grit Capital CEO Genevieve Roch-Decter reacts to the FTX meltdown on 'Making Money.'
Athletes, venture capital firms, others among victims in FTX collapse
FTX, one of the world's largest cryptocurrency exchanges, has rapidly collapsed. Here are some of the entities and individuals potentially impacted by it.
Carol Roth: We need to return to some semblance of normalcy in elections
Former investment banker Carol Roth reacts to FTX founder Sam Bankman-Fried allegedly donating money to the Democratic Party on 'The Evening Edit.'
Thomas Vartanian: Cryptocurrency must be regulated so that people don't lose money
Finance and cybersecurity expert Thomas Vartanian breaks down the relationship between cryptocurrency and politics on 'Fox Business Tonight.'
FTX founder Sam Bankman-Fried funneled max donation to Nancy Pelosi's likely successor
Sam Bankman-Fried donated the maximum allowed amount to Democratic Caucus Chairman Hakeem Jeffries who is expected to succeed Speaker Nancy Pelosi as the top House Democrat.
Wall Street watching if Russia missile crossing into Poland spooks markets: Scott Redler
Sarge986 president Stephen Guilfoyle and T3 Trading chief strategist Scott Redler assess how a Russian missile striking Poland could affect markets on 'The Claman Countdown.'
FTX suffers $400M hack after filing for chapter 11 bankruptcy
Kraken incoming CEO Dave Ripley addresses the FTX hack, telling 'The Claman Countdown' the customer who tried to use a Kraken wallet has been identified.
FTX founder Sam Bankman-Fried should testify on crypto exchange collapse: Sen. Sherrod Brown
Sen. Sherrod Brown, D-Ohio, said former FTX CEO Sam Bankman-Fried should testify before Congress regarding the collapse of his company. Billions of dollars have gone missing.
Who’s really to blame for FTX crypto collapse?
Who’s really to blame for FTX crypto collapse? Venture capitalists, investors and poor regulation share blame, while crypto problems drive investors to Bitcoin.
FTX meltdown is a tragic situation: Michael Saylor
MicroStrategy executive chairman Michael Saylor reacts to the fall of FTX on 'Making Money.'
FTX founder Sam Bankman-Fried should testify, Sen. Sherrod Brown says
Democratic Ohio Sen. Sherrod Brown told Fox News' Caroline McKee Tuesday that FTX founder Sam Bankman-Fried should testify amid the cryptocurrency exchange collapse.
FTX a 'huge stain' on entire crypto space: Grant Mitterlehner
MittGroup CEO Grant Mitterlehner discusses if the crypto industry can survive the FTX fiasco on 'Cavuto: Coast to Coast.'
Stuart Varney on FTX collapse: The crypto world is in chaos
FOX Business' Stuart Varney discusses the impact of the crypto collapse on investors and the Democrat Party as FTX's bankruptcy exposes 'missed' warning signs.
FTX bankruptcy may affect a million creditors
Bankrupt cryptocurrency exchange FTX said it may have more than a million creditors, including tens of thousands of customers as its assets remain frozen in the Bahamas and criminal probes get underway.
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.