Crypto

Salvadoran president vows to buy "one #Bitcoin every day'
Salvadoran president vows to buy "one #Bitcoin every day'
World
by  AFP

President Nayib Bukele of El Salvador, the first country to make bitcoin legal tender, said Thursday the nation would buy one unit of the currency every day, doubling down in the face of public criticism of his embrace of the crypto money. "We are buying one #Bitcoin every day starting tomorrow," the president tweeted.

FTX had 'complete failure' of controls, new CEO says
FTX had 'complete failure' of controls, new CEO says
World
by  AFP

Collapsed cryptocurrency exchange FTX suffered a "complete failure of corporate controls" under founder Sam Bankman-Fried, the company's new chief executive said Thursday, calling the situation "unprecedented." "Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here," Ray said in the filing.

FTX working to secure assets after 'unauthorized' transactions
FTX working to secure assets after 'unauthorized' transactions
Business and Economy
by  AFP

The new CEO of troubled cryptocurrency platform FTX said Saturday the company was making "every effort to secure all assets" following unauthorized transactions potentially worth hundreds of thousands of dollars. FTX US and FTX.com "continue to make every effort to secure all assets, wherever located," Ray, who specializes in corporate turnarounds, said in the statement.

Mercedes F1 team dump crypto partner
Mercedes F1 team dump crypto partner
Business and Economy
by  AFP

The Mercedes team on Friday confirmed they had suspended a sponsorship deal with crisis-hit crypto currency exchange FTX and had removed the company’s logos from their cars ahead of this weekend’s Sao Paulo Grand Prix. Mercedes signed a sponsorship deal with FTX in September, 2021 when they were the reigning champions.