Crypto
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.
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.
Binance boss pledges to release audit, throws 'psychopath' jab
US sports stars named in lawsuit over FTX's deceptive practices
A 14-year-old "Bitcoin millionaire" flexed his fancy fleet of cars online and had folks all over the world impressed. Peeps didn't believe he was legitimate.
The failure of the FTX platform has undermined investor confidence and threatened the young cryptocurrency sector, pushing its main players to mobilise to save it.
About 75% of Bitcoin buyers have experienced losses, per a recent study, amid a crisis in the cryptocurrency sector due to a significant exchange collapse.
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.
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.
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