marketcrash
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crypto cult
11/18/2022
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By Cassie B.
US to extradite embattled FTX ex-CEO Sam Bankman-Fried from Bahamas
The founder of crypto exchange FTX, Sam Bankman-Fried, is expected to be extradited from the Bahamas back to the U.S. as $2 billion of clients’ money remains unaccounted for. This is according to a report from Bloomberg, which says that authorities in the U.S. and the Bahamas have been discussing extraditing him for questioning. Bankman-Fried […]
11/16/2022
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By Arsenio Toledo
Crypto.com withdrawals SURGE after CEO admits “mishandling” $400M transaction
Thousands of clients of the cryptocurrency exchange platform Crypto.com pulled out their funds from the site over the weekend after the company’s chief executive admitted to “mishandling” a transaction involving roughly $400 million worth of crypto assets. Crypto.com CEO Kris Marszalek said on Twitter that the $400 million transfer was mistakenly sent to the wrong type […]
11/16/2022
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By Roy Green
Crypto lender BlockFi blocks withdrawals as FTX declares bankruptcy
The crumbling crypto industry has claimed another likely victim in BlockFi, a digital-asset lender worth $10 billion once, but is now barely functioning. With FTX announcing its plans to file for bankruptcy on Friday, Nov. 11, BlockFi announced via Twitter on the same day that it is “stopping client withdrawals” because of a “lack of clarity” […]
11/15/2022
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By Belle Carter
Former multibillion-dollar crypto firm FTX files for bankruptcy
FTX Trading Limited on Friday, Nov. 11, announced that it is going to file for bankruptcy and that Samuel Bankman-Fried is resigning as CEO. This was after the company failed to source enough capital to stay afloat. Bankman-Fried has been succeeded by John J. Ray III, though the outgoing chief will stay on to assist with the […]
11/10/2022
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By Arsenio Toledo
Binance backs out of bailout plan to rescue FTX, causing further turmoil across crypto markets
Cryptocurrency exchange platform Binance has backed out of a deal to acquire FTX, a similar crypto company, leaving the latter on the verge of total collapse. Just months ago, FTX and its sister trading firm Alameda Research were two of the largest cryptocurrency firms in the world. Their 30-year-old founder and CEO, crypto trader and […]
07/26/2022
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By Arsenio Toledo
Desperate crypto investors scramble, beg to withdraw their money
Regular Americans who invested and stored their assets in crypto banks are now reeling and fighting tooth and nail just to get all of their assets back. Big-name cryptocurrency lending companies like Celsius Network and Voyager Digital also offered bank-like accounts that pay interest rates far higher than traditional lenders. These companies even marketed themselves […]
07/24/2022
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By Arsenio Toledo
Founder of fraudulent crypto CONVICTED for stealing over $6 million from investors
Randall Crater, the creator of purported cryptocurrency My Big Coin, has been convicted for stealing over $6 million from investors by falsely claiming that this new crypto asset was backed by commodities. The Department of Justice said Crater, 51, offered virtual payment services through his fraudulent digital currency. (Related: “Cryptoqueen” becomes first crypto criminal on FBI’s top 10 most […]
07/06/2022
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By Arsenio Toledo
Cryptocurrency lending company Vauld suspending withdrawals, transactions and deposits as crypto market crash takes its toll
Cryptocurrency lender Vauld announced on Monday, July 4, that it is pausing withdrawals, trading and deposits on its platform as it explores potential restructuring options following the massive collapse in the value of cryptocurrency assets. Vauld CEO Darshan Bathija said in a blog post on Monday, July 5, that the Singapore-based company is facing “financial […]
07/03/2022
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By Arsenio Toledo
“Cryptoqueen” becomes first crypto criminal on FBI’s top 10 most wanted
The Federal Bureau of Investigation (FBI) has just added Ruja Ignatova, also known as the “Cryptoqueen,” to its 10 Most Wanted Fugitives list. Ignatova is known for her involvement in the Ponzi scheme known as OneCoin, which is estimated to have defrauded investors out of over $4 billion. The scam, which was active from late 2014 to March […]
06/30/2022
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By Arsenio Toledo
“Crypto Nostradamus” John Perez: $2 trillion loss in value just the start, larger crypto crash coming
John Perez, the “crypto Nostradamus” who predicted the cryptocurrency market’s ongoing collapse, believes an even bigger crash is looming over the horizon for cryptocurrencies. Latest reports by industry analysts have warned that cryptocurrencies have lost around $2 trillion in value since their peak in Nov. 2021. This is according to crypto data website CoinMarketCap, whose investigation found […]
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