Tag: FTX

Binance to Buy FTX in Megadeal of Crypto Exchanges – The New York Times

The cryptocurrency world was rocked on Tuesday as one of the largest exchanges for digital currencies, seemingly on the verge of collapse, was bailed out by a major rival in a deal that underlined the perils of the industry’s volatility. Binance, the world’s largest cryptocurrency exchange, said it had reached an agreement to buy its competitor FTX, which struggled to…

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FTX, CEO Sam Bankman-Fried investigated by Texas securities regulator – The Washington Post

Texas’s securities regulator is investigating crypto trading platform FTX and its billionaire founder, Sam Bankman-Fried, for selling an investment product that potentially violated state law. The probe, announced in a Friday filing by Texas State Securities Board enforcement director Joe Rotunda, centers on whether FTX has been illegally offering Texans accounts that pay interest on crypto deposits. Rotunda argues that…

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The 30-Year-Old Spending $1 Billion to Save Crypto – WSJ

Crypto is ailing. Sam Bankman-Fried is betting a billion dollars he can fix it. The chief executive of cryptocurrency exchange FTX Trading Ltd. has appointed himself the industry’s savior—and crypto investors are closely watching his moves after months of market carnage. This year, he bailed out a troubled digital-currency lender and tried to stabilize another. He acquired crypto exchanges in…

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Crypto firm FTX receives cease and desist from FDIC about insurance

The FDIC issued letters to five crypto companies, including FTX US. Unlike deposits held at U.S. banks, cryptocurrencies stored with brokerages are not protected by the government. “Based upon evidence collected by the FDIC, each of these companies made false representations —including on their websites and social media accounts — stating or suggesting that certain crypto-related products are FDIC-insured or…

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Crypto exchange FTX U.S. moves into stock trading

The U.S. affiliate of crypto exchange FTX is rolling out zero-commission stock trading as part of a bigger bet that retail investors will want to see their crypto and stock investments in a single place. FTX U.S. will offer no-fee brokerage accounts, commission-free trading, and market and company data, the company announced Thursday. For now, the new service is limited…

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