EXCLUSIVE At least $1 billion of client funds missing at failed crypto firm FTX – sources

EXCLUSIVE At least $1 billion of client funds missing at failed crypto firm FTX – sources

FTX founder Bankman-Fried secretly moved $10 billion in funds to trading firm Alameda – sources Bankman-Fried showed spreadsheets to colleagues that revealed shift in funds to Alameda – sources Spreadsheets indicated between $1 billion and $2 billion in client money is unaccounted for – sources Executives set up book-keeping “back door” that thwarted red flags … Read more

FTX’s Bankman-Fried scrambles for funds after Binance deal collapse

FTX’s Bankman-Fried scrambles for funds after Binance deal collapse

HONG KONG/SINGAPORE/NEW YORK, Nov 10 (Reuters) – FTX Chief Executive Sam Bankman-Fried on Thursday launched an urgent push to raise funds to save his firm as the crypto exchange looks to plug a reported $8 billion hole in its finances, according to tweets and a memo to employees. Bankman-Fried said he was in talks with … Read more

Exclusive: Behind FTX’s fall, battling billionaires and a failed bid to save crypto

Exclusive: Behind FTX’s fall, battling billionaires and a failed bid to save crypto

Nov 10 (Reuters) – (This story contains language some readers may find offensive in paragraph 2) On Tuesday morning, Sam Bankman-Fried, owner of cryptocurrency exchange FTX, caught his employees off-guard with a somber message. “I’m sorry,” he told them. “I fucked up.” The reason for the mea culpa: His announcement half an hour earlier that … Read more

Flying car by California startup Alef attracts early Tesla investor

Flying car by California startup Alef attracts early Tesla investor

Oct 19 (Reuters) – The concept of a flying car is not new – inventors have been trying to add wings to wheeled motor vehicles for decades, with only limited success. Jim Dukhovny, founder of Alef Aeronautics, hopes to change that equation. His California-based firm has come up with a novel approach to moving terrestrial … Read more

Wall Street banks’ profits slide as economic clouds loom, some beat forecasts

Wall Street banks’ profits slide as economic clouds loom, some beat forecasts

Oct 14 (Reuters) – Profits slid at Wall Street’s biggest banks in the third quarter as they braced for a weaker economy while investment banking was hit hard, but investors saw a silver lining with some banks beating estimates. JPMorgan Chase & Co (JPM.N), Morgan Stanley (MS.N), Citigroup Inc (C.N) and Wells Fargo & Co’s … Read more

BlackRock assets fall below $8 tln, profit beats on strong ETF demand

BlackRock assets fall below $8 tln, profit beats on strong ETF demand

Oct 13 (Reuters) – BlackRock Inc (BLK.N) posted a smaller-than-expected drop in quarterly profit on Thursday as strong demand for exchange-traded funds and other low-risk products cushioned the hit to fee income from a global market rout, but its assets under management fell below expectations. The threat of a recession, surging interest rates and the … Read more

Crypto and gaming collide in high-risk ‘play-to-earn’ economies

Crypto and gaming collide in high-risk ‘play-to-earn’ economies

April 8 (Reuters) – Jarindr Thitadilaka says he earned as much as $ 2,000 a month last year on his collection of digital pets, which he would breed and send in battle to win cryptocurrencies. The 28-year-old from Bangkok played Axie Infinity, one of a new breed of blockchain-based online games called “play-to-earn”, which mixes … Read more

The United States is sanctioning Putin’s daughters and several Russian banks

The United States is sanctioning Putin’s daughters and several Russian banks

St. Basil’s Cathedral and Kremlin towers are silhouetted against the sunset in Moscow, Russia August 12, 2021. REUTERS / Evgenia Novozhenina / File Photo Sign up now for FREE unlimited access to Reuters.com Sign up WASHINGTON, April 6 (Reuters) – The United States on Wednesday targeted Russian banks and elites with a new package of … Read more