The Securities Commission of The Bahamas says the continued “hacking attempts” on FTX’s digital assets prove they made the right call to take control of the exchange’s assets on Nov. 12. In a statement on Nov. 23, the commission said the fact that FTX's "systems were compromised, and that they continue to face new hacking attempts – reinforces the wisdom of the commission's prompt action to secure these digital assets." On the same day that FTX filed for bankruptcy on Nov. 11, the crypto community began flagging roughly $266.3 million worth of outflows on wallets associated with FTX. By Nov. …

An eight-episode limited series exploring the unraveling and scandals behind sunken crypto exchange FTX and its leadership is slated to soon begin production. The series has been purchased by technology conglomerate Amazon, and will likely air on Amazon’s video streaming service Prime. It’s understood to be based on “insider reporting” from journalists covering FTX and its founder Sam Bankman-Fried according to a Nov. 23 report from the entertainment magazine Variety. Brothers Joe and Anthony Russo, famed for directing Avengers: Endgame and multiple other Marvel-owned movies are reported to have sold the idea to Amazon and are slated to direct the …

Blockchain analysis firm Chainalysis has compared the fall of Mt. Gox to FTX to determine how FTX’s bankruptcy will impact the ecosystem. It concluded that FTX was a relatively smaller part of the crypto industry than Mt. Gox was at the time and that the industry should bounce back stronger than ever. In a Nov. 23 Twitter thread, Chainalysis’ research lead Eric Jardine began his comparison by first looking at the market share of the two firms, finding that Mt. Gox averaged 46% of all exchange inflows in the year leading up to its collapse in 2014, compared to FTX’s …

Former FTX CEO Sam Bankman-Fried has once again attracted the ire of the crypto community — this time over his slated appearance at an upcoming New York City conference on November 30. Vocal members of Crypto Twitter have questioned why the former CEO of the now-bankrupt exchange continues to walk free given the events over the last month. In a Nov. 23 Twitter post, Bankman-Fried announced he will be speaking with New York Times journalist Andrew Sorkin at the DealBook Summit “next Wednesday.” The news was confirmed publicly by Sorkin, who said: “There are a lot of important questions to …

Two Democratic members of the United States Senate have called on the Justice Department to investigate the collapse of FTX and potentially prosecute individuals involved in wrongdoing. In a Nov. 23 letter to U.S. Attorney General Merrick Garland and Assistant Attorney General Kenneth Polite, Senators Elizabeth Warren and Sheldon Whitehouse requested the Justice Department launch an investigation into crypto exchange FTX’s downfall with the “utmost scrutiny.” The lawmakers cited the impact the collapse of a major firm in the crypto space had had on related companies — lending companies including Genesis and BlockFi halting trading — and funds which FTX …

Former FTX CEO Sam Bankman-Fried, also known as SBF, has reiterated apologies to the exchange’s employees in a letter explaining the collapse. According to a Nov. 22 letter reviewed by Cointelegraph, Bankman-Fried broke down the reasons behind FTX’s liquidity crisis and subsequent bankruptcy to employees. He largely confirmed information reported by media outlets amid the exchange’s collapse, citing the crypto market downturn as one of the factors leading to reduction in the value of FTX’s collateral assets. November’s “run on the bank,” according to the former CEO, helped reduce the exchange’s collateral to roughly $9 billion with $8 billion in …

The latest revelation from the FTX case reveals that Bahamian properties worth millions were bought in the company name. FTX, at the time operated by Sam Bankman-Fried (SBF), his parents and other high-level executives of the company, reportedly purchased at least 19 properties in the Bahamas over the last two years. Collectively, these purchases have a worth of over $121 million, according to a Reuters report of the official property records. Among the acquired properties were seven luxury condos. While the residents of the condos remain unknown at the time of writing, the property deed claims they were to be …

NFL quarterback Tom Brady and basketball point guard Stephen Curry are reportedly among the celebrities facing a probe from the Texas financial regulator over their promotion of the now-bankrupt crypto exchange, FTX. Joe Rotunda, director of enforcement at the Texas State Securities Board reportedly told Bloomberg in a Nov. 22 report that the Texas State Securities Board is scrutinizing payments received by celebrities to endorse FTX US, what disclosures were made and how accessible they were for investors. Rotunda however noted that while the watchdog was taking a "close look at them," the celebrities’ endorsements of FTX were not an …

A faked video of Sam Bankman-Fried, the former CEO of cryptocurrency exchange FTX, has circulated on Twitter attempting to scam investors affected by the exchange’s bankruptcy. Created using programs to emulate Bankman-Fried’s likeness and voice, the poorly made “deepfake” video attempts to direct users to a malicious site under the promise of a “giveaway” that will “double your cryptocurrency.” Over the weekend, a verified account posing as FTX founder SBF posted dozens of copies of this deepfake video offering FTX users "compensation for the loss" in a phishing scam designed to drain their crypto wallets pic.twitter.com/3KoAPRJsya — Jason Koebler (@jason_koebler) …

“I hate to say I told you so” is a phrase oft-repeated but rarely sincere. It’s a delightful feeling to claim credit for warning about a problem in advance. That’s a liberty I’m taking with federal financial regulators at the United States Securities and Exchange Commission. In January of this year, while serving as a member of the SEC Investor Advisory Committee that advises SEC Chairman Gary Gensler on crypto and other matters, I filed a petition with the SEC. I asked them to open a formal public comment about unique issues presented by crypto and other digital assets. I …

The rapid implosion of FTX has led general investors and crypto believers alike to question the validity of crypto and, indeed, predict its end. But, an understanding of history points not to crypto’s demise but rather a move toward new technology and growth. Financial markets move, as Willie Nelson once said, in phases and stages, circles and cycles. Companies develop ideas, grow quickly, ignite unwarranted investor euphoria and then implode — only to seed the ground for the next company, the next idea and the next growth phase. Crypto is no different. In 2010, an unknown person famously used Bitcoin …

On Nov. 11, while the rest of the country was celebrating Veteran’s Day, Sam Bankman-Fried announced that FTX — one of the world’s largest cryptocurrency exchanges by volume — had filed for bankruptcy. Lawmakers and pundits quickly latched onto the rapid disintegration of FTX to call for more regulation of the crypto industry. “The most recent news further underscores these concerns [about consumer harm] and highlights why prudent regulation of cryptocurrencies is indeed needed,” said White House Press Secretary Karine Jean-Pierre. It remains unclear what exactly transpired at FTX. Reports indicating that between $1 billion and $2 billion of customer …