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EXPLAINED: 46 - The Real Truth

Crypto’s brutal week ends with a trading halt and a bailout

The meltdown in cryptocurrency markets deepened this week, as major players contended with liquidations, withdrawal freezes, trading halts -- and, at least in one case, a bailout.

The Times of India

FTX Reportedly Shopping BlockFi At 99.5% Discount, CEO Shoots Down $25M Figure

Imagine it is March 2021, and you’re leading a funding round where you’ve raised $350 million at a $3-billion valuation. Now it’s July 2021, and you’re to raise $500 million at an almost $5 billion valuation.

Benzinga

Sam Bankman-Fried's FTX Isn't Taking Bad Debt: Walks Away From Celsius Acquisition

FTX CEO Sam Bankman-Fried is taking a bullish stance amid the “great depression” of cryptocurrency. Instead of joining the list of peers hedging losses by slashing workforces by upwards of 20%, FTX is on a mergers and acquisitions tear, acquiring three firms this year alone.

Benzinga

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Some Crypto Exchanges Are 'Secretly Insolvent' And 'Too Far Gone,' FTX Chief Tells Forbes

Sam Bankman-Fried, founder and CEO of crypto exchange FTX, warns that some cryptocurrency exchanges may already be insolvent and that failures are imminent.

Benzinga

Jonathan Jackson wins 1st District congressional race, Danny Davis leads in 7th

The son of Rev. Jesse Jackson Sr. beat 16 other Democrats, while longtime Congressman Davis defeated a progressive rival.

Chicago Sun-Times

Robinhood Shares Pop On Takeover Talk, FTX CEO Has This To Say On M&A Chatter

Stock and cryptocurrency platform Robinhood Markets (NASDAQ: HOOD) saw shares surge Monday as it was reported the company could soon be acquired. Here’s the latest.

Benzinga

Why Coinbase Dipped Lower Following Robinhood Markets News

Coinbase Global Inc (NASDAQ: COIN) shares are trading lower by 10.99% to $55.82 Monday afternoon after Goldman Sachs downgraded the stock from Neutral to Sell and lowered its price target from $70 to $45. Weakness later in the day also came following a report FTX is said to be exploring a deal…

Benzinga

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Report Of FTX's Interest In Robinhood Comes 1 Week After This Acquisition

FTX is seeking to acquire Robinhood Markets Inc (NASDAQ: HOOD), Bloomberg reported Monday.

Benzinga

Why Robinhood Markets Shares Are Popping Off Today

Robinhood Markets Inc (NASDAQ: HOOD) shares are trading higher by 14.19% to $9.14 Monday afternoon following a report that FTX is said to be exploring a deal for the company.

Benzinga

Crypto Exchange FTX In Talks To Acquire Stake In BlockFi After Extending $250M Credit Line: Report

The Terra (CRYPTO: LUNA) crash caused the crypto market to plummet more than 67% from its all-time high, brought about individual investors to lose billions of dollars and triggered liquidations of crypto enterprises that could not repay overcollateralized margin loans.

Benzinga

A Crypto Phone? The Company Behind This Leading Cryptocurrency Is Launching One

Technology giants such as Apple Inc (NASDAQ: AAPL) and Samsung may have competition in the mobile phone market soon. A leading blockchain company announced a new mobile phone coming in 2023.

Benzinga

Crypto PAC money boosting Jonathan Jackson’s bid for Congress now totals more than $1 million

New FEC filings reveals Jackson is being boosted with $1,041,899 in outside money for ads and direct mail in the closing days of the 1st Congressional District campaign.

Chicago Sun-Times

Crypto-linked super PACs boost spending on primary races

WASHINGTON — Super PACs with ties to the cryptocurrency industry have spent at least $31.2 million in primary races ahead of this year’s midterms, with most of the money coming from a handful of executives at just one company.

Tribune News Service

Crypto-linked super PACs boost spending on primary races - Roll Call

Super PACs connected to the crypto industry are flexing their muscles in this year's primary campaigns as lawmakers consider regulations.

Roll Call

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Chicago Sun-Times

Crypto billionaire fallout: Rivals blast Jonathan Jackson for not filing personal finance disclosure

Ald. Pat Dowell, state Sen. Jaqueline Collins and business owner Jonathan Swain criticized the PAC bankrolled by crypto billionaire Samuel Bankman-Fried spending $500,065 to elect Jackson.

Chicago Sun-Times

Crypto billionaire’s PAC spends nearly $1 million in Illinois Democratic congressional primaries

A PAC bankrolled by crypto billionaire Samuel Bankman-Fried poured $500,065 into television ads to elect Jonathan Jackson to Congress from the 1st District.

WEKU

Crypto billionaire says Fed is driving current downturn

FTX CEO Sam Bankman-Fried says that, until investors get used to higher interest rates, risk assets, including cryptocurrency, won't recover.

Los Angeles Times

Crypto is melting down. Here's who's hurt

These are gut-wrenching days if you're an investor in stocks or bonds. But things could be worse:

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Benzinga

FTX CEO Sam Bankman-Fried On What's Behind The Slide In Crypto, Tech

Cryptocurrency markets have been trending lower alongside traditional markets for most of the year as rising inflation continues to spark investor fear.

Benzinga

FTX CEO Sam Bankman-Fried Predicted The Downfall Of Terra (Luna): What Investors Need To Know

The tipping point for the crypto markets was the collapse of TerraUSD (CRYPTO: UST). This stablecoin was supposed to remain at $1, however, Terra

Benzinga

Crypto Billionaire Joins Elon Musk, Bill Gates In Pledging Majority Of Wealth To Charity

Sam Bankman-Fried, the founder and CEO of cryptocurrency exchange FTX, has pledged to give away the majority of his wealth to charitable organizations.

Benzinga

DraftKings CEO Jason Robins Calls For Crypto Centralization, Compares Sector To Early Internet Struggles

The CEO of a sports betting platform that has entered the non-fungible token market is calling for more centralization in the cryptocurrency space.

Benzinga

FTX CEO Could Donate Up to $1 Billion for US Elections in 2024

Founder and CEO of FTX cryptocurrency exchange Sam Bankman-Fried revealed he could donate up to $1 billion in the Presidential elections of the United States in 2024, depending on which leader is running for what position.

Benzinga

FTX Chief Willing To Spend $1B On Candidate Running Against Donald Trump In 2024

Sam Bankman-Fried, the founder and CEO of cryptocurrency exchange FTX, is willing to spend over $100 million on his preferred candidate in the 2024 election.

Benzinga

Fintech Spotlight: FTX Floating Acquisitions Of Webull, Apex And Public.com

Fresh after CEO Sam Bankman-Fried disclosed a stake in Robinhood Markets Inc (NASDAQ: HOOD), FTX reportedly is in talks regarding acquisitions with large firms including Webull, Public.com, and Apex Clearing.

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