Journalists don’t like to be the story. We prefer to tell it.But with CoinDesk playing a central role in this week’s FTX meltdown – following Ian Allison’s bombshell on Alameda Research’s suspect balance sheet last week – I got to thinking that
Much furor has been generated on Twitter about Elon Musk’s new "blue tick" (checkmark) verification scheme. Existing blue ticks (full disclosure: I am one) are up in arms about the plan, which would give anyone a blue checkmark on their tweets if they pay Musk $8 a month, w
Our community keeps learning the lesson of decentralization the hard way. Celsius Network. BlockFi. Voyager Digital. Now FTX.These are all centralized exchanges (CEXs) and centralized financed platforms (CeFi). Their business models are centuries old; the only new thing about the
Does crypto need a backstop? Wednesday, in what in hindsight should be obvious, Binance pulled out of a tentative deal to buy out rival FTX, the crypto exchange founded by Sam Bankman-Fried that has lost just about everything following a bank run.Binance CEO Changpeng Zhao said a
Just last month, we learned right after Celsius Network founder Alex Mashinsky was pushed out of his CEO position that he withdrew $10 million from the platform mere weeks before it froze withdrawals
Sam Bankman-Fried’s embattled cryptocurrency exchange FTX may have misused customer funds in violation of its own terms of service, lawyers have told CoinDesk.FTX’s downward spiral, which began after a CoinDesk article last week about its sister company Alameda Resear
In lieu of the hype cycle, the market will have to shift to a more concrete metric of value that has its roots in reality. That metric is utility and by extension, use.
Sam Bankman-Fried trafficked in ubiquity. The CEO of FTX began infiltrating Washington, D.C., last year, selling cryptocurrency as an answer to financial problems in the U.S. And he never seemed to leave.Last month, in the span of a few days, the man known as SBF appeared at no f
For nearly a decade, crypto investors and advocates have promoted bitcoin as a hedge against inflation and a store of value against fiat currency. Due to the tokenomics behind bitcoin, many savvy investors believe that bitcoin is a hedge against the loss of purchasing power exper
For nearly a decade, crypto investors and advocates have promoted bitcoin as a hedge against inflation and a store of value against fiat currency. Due to the tokenomics behind bitcoin, many savvy investors believe that bitcoin is a hedge against the loss of purchasing power exper
The political turmoil in the U.K. won’t alter crypto’s bright future in the country, lawmaker Lisa Cameron says.The U.K. has seen its Conservative leadership change hands repeatedly over the last year, prompting support for the Labour Party – the main opposition
And in another quick twist of events, Binance -- just 24 hours after it announced it would acquire embattled FTX and after it would conduct due diligence -- walked away from the deal, leaving the...
The rise and fall of Sam Bankman-Fried’s FTX exchange has already had a profound impact on the industry. Bankman-Fried is among the most influential political dealers in crypto, and so regulators and politicians will likely notice that the exchange he built has collapsed.Th
Binance, the largest crypto exchange in the world, announced yesterday that it would purchase FTX, its main competitor – marking one of the most shocking turns of events in the history of crypto to date.Whether or not the deal goes through – and there’s growing
Nearly two years after one of the biggest short squeezes in market history, some lessons have been learned and others less so, possibly because investors are struggling to keep up with what has become a relentless and punishing stream of macro and market news.The GameStop saga of
In a year of eventful stories in the cryptocurrency world, nothing comes close to the action of recent days, which started when two of the industry’s biggest personalities became embroiled in a very public spat.
