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Crypto lender BlockFi files for bankruptcy, cites exposure to FTX

Filing follows weeks after FTX collapse FTX listed as BlockFi’s #2 creditor Bitcoin down over 70% from 2021 peak Nov 28 (Reuters) – Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy, it said on Monday, the latest crypto casualty after the firm was hurt by exposure to the dramatic collapse of the FTX exchange …

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Stocks turn ahead of Fed minutes as oil falls on price cap plan

Fed Minutes for November at 7:00 p.m. GMT American Thanksgiving holiday on Thursday Stocks Make Smart Gains Globally Eurozone economic data point to recession China hit by rising COVID-19 infections LONDON, Nov 23 (Reuters) – Global stocks rebounded on Wednesday ahead of minutes of a Federal Reserve meeting that could shed light on whether the …

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Musk tells Twitter not to restart blue check verification

Nov 21 (Reuters) – Twitter’s new owner Elon Musk said on Monday the social media company was pausing the relaunch of its blue check subscription service, a delay from its original tentative schedule to bring the service back on the platform. “Withholding Blue Verified relaunch until there is high confidence in stopping spoofing,” Musk said …

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Bankman-Fried’s FTX EXCLUSIVE Parents Bought Bahamian Property Worth $121 Million

FTX unit purchased 7 condos in upscale resort for “key personnel” Bankman-Fried’s parents named owners of $16.4 million vacation home Bankman and Fried tell Reuters: Seeking to return the deed to FTX NEW PROVIDENCE, Bahamas, Nov 22 (Reuters) – Sam Bankman-Fried’s FTX, his parents and top executives of the failed cryptocurrency exchange have purchased at …

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Crypto lender Genesis says it has no immediate plans to file for bankruptcy

Nov 21 (Reuters) – Cryptocurrency lender Genesis said on Monday it had no immediate plans to file for bankruptcy, days after the collapse of crypto exchange FTX l forced to suspend customer refunds. “We do not intend to file for bankruptcy imminently. Our goal is to resolve the current situation on a consensual basis without …

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Collapsed FTX owes nearly $3.1 billion to top 50 creditors

Nov 20 (Reuters) – Cryptocurrency exchange FTX, which has sought U.S. bankruptcy court protection, said it owed its 50 biggest creditors nearly $3.1 billion. The exchange owes about $1.45 billion to its top ten creditors, it said in a court filing on Saturday, without naming them. FTX and its affiliates filed for bankruptcy in Delaware …

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FTX lays off three of its top executives – WSJ

Nov 18 (Reuters) – Cryptocurrency exchange FTX, which recently sought protection in a U.S. bankruptcy court, has fired three of its top executives, including co-founder Gary Wang, The Wall reported on Friday. Street Journal, quoting an FTX spokeswoman. The other fired executives were engineering director Nishad Singh and Caroline Ellison, who ran FTX’s trading arm, …

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ECB begins major cash clean-up as banks repay 296 billion euros in loans

Reimbursement much lower than expected The key money market rate drops after the announcement Moving seen as a first step towards the unwinding of obligations FRANKFURT, Nov 18 (Reuters) – Eurozone banks are expected to repay nearly 300 billion euros ($310 billion) in loans to the European Central Bank next week, the ECB said on …

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Musk’s sleepless nights on Twitter have Tesla investors worried

SAN FRANCISCO, Nov 15 (Reuters) – In 2018, Elon Musk worked through the night and slept at Tesla Inc’s (TSLA.O) factories in California and Nevada as the company struggled to ramp up production of the Model 3. On Monday, Musk said he had worked through the night at Twitter’s San Francisco headquarters and would continue …

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Fed’s Barr: Concerned about the return of crypto to the financial system

Nov 15 (Reuters) – Michael Barr, the Federal Reserve’s top financial regulator, said on Tuesday he was concerned about risks to the non-banking sector, including cryptocurrencies, for which the U.S. central bank and other regulators have low visibility. “We are concerned about risks that we ignore in the non-banking sector,” Barr said in response to …

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