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A $32 Billion Crypto Empire Has Crashed. The Fallout Is Spreading Far Beyond Crypto

Barron's2022-11-12

How long does it take to wipe out a $32 billion company, shatter confidence in an entire industry, and leave a trail of destruction from Wall Street to Silicon Valley?In crypto, about a week.The ...

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  • hippyboy
    ·2022-11-14
    Time for everybody to move all their crypto to coldwallets offline. This is the only way to know the solvency of the wild wild west crypto exchanges. After the dust has settled you can then slowly re-deposit back.
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  • cowsmile
    ·2022-11-14
    Kink
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  • Nighttt
    ·2022-11-14
    Ghibli
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  • Nighttt
    ·2022-11-14
    Chui
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  • PearlynCSY
    ·2022-11-14
    Forbes reports Temasek having invested US$205 into bankrupted cryptocurrency exchange. According to an exclusive report by Forbes, Temasek Holdings has US$205 million invested into cryptocurrency platform FTX which has filed for bankruptcy in the United States. FTX Group announced in a statement on Friday (11 Nov) that it filed for US' Chapter 11 bankruptcy proceedings, adding it has begun an “orderly process to review and monetize assets for the benefit of all global stakeholders.” The filing comes after the world’s biggest cryptocurrency platform Binance agreed to buy its rival earlier this week but backed out, leading market players to consider possible regulator responses. Forbes' report noted that FTX became a huge draw for venture capitalists eager to get in on the Bitcoin boom as th
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    • PearlynCSY
      Crypto.com CEO downplays FTX contagion fears, says he’ll prove naysayers wrong as withdrawals rise
      2022-11-15
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    • Nggimseng
      Wow nice going
      2022-11-14
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    • Nggimseng
      Going to cost more for Singaporean
      2022-11-14
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  • PhilipGoh
    ·2022-11-13
    Finished [Cry] 
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  • Dragonbody
    ·2022-11-13
    crypto is just the sheet imagination of some bs individualss hoping to make it big out of NOTHING.It's not even real.Time to wake up
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  • Lexcool
    ·2022-11-13
    Cool
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  • trendjourney
    ·2022-11-13
    The former CEO needs to serve jail time for fraudulent transactions he was withdrawing from clients tokens to fund his speculations. If not, then crypto is just no diff but another laundering scam
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  • SPOT_ON
    ·2022-11-13
    Finished 
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  • Gerinit
    ·2022-11-13
    Pls like. Thanks
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    • Tomxx
      👍
      2022-11-13
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  • IAS
    ·2022-11-13
    That's the issue w crypto 
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  • leeinvest
    ·2022-11-13
    ...
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    • sk27
      speechless
      2022-11-13
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  • Shirley Soh
    ·2022-11-13
    Ok
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  • robot1234
    ·2022-11-13
    FTX says it’s removing trading and withdrawals, moving digital assets to a cold wallet after a $477 million suspected hack. The new FTX CEO says the bankrupt crypto exchange is “in the process of removing trading and withdrawal functionality” and it is “moving as many digital assets as can be identified to a new cold wallet custodian,” according to a statement tweeted by the company’s general counsel. The announcement comes as the failed exchange investigates what it’s calling “unauthorized transactions” that began within hours of FTX filing for Chapter 11 bankruptcy protection in the U.S. John Ray, FTX’s new CEO and chief restructuring officer, said the bankrupt crypto exchange is “in the process of removing trading and withdrawal functionality” and it is “moving as many digital assets as
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    • setia100
      Agreed 👍🤣
      2022-11-13
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    • Hayz
      probably hack themselves...
      2022-11-13
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    • Andie8392
      thanks for sharing .. good post
      2022-11-13
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  • FreePrincess
    ·2022-11-13
    Pls like 
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    • Dan94
      ok
      2022-11-13
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    • LifeLearner
      ok
      2022-11-13
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  • Dragonroar
    ·2022-11-13
    Wow 
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  • Jess321
    ·2022-11-13
    Ok
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  • xuero
    ·2022-11-13
    [Surprised] [Surprised] [Surprised] 
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  • simis
    ·2022-11-13
    Like pls 
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