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FTX's Celebrity "Brand Ambassadors" Named in Class Action Lawsuit
A lawsuit seeks to extract billions in damages from celebrities who endorsed FTX, including Tom Brady, Gisele Bündchen, Stephen Curry and Larry David. Adam Moskowitz, managing partner at the Moskowitz Law Firm, says they have named 21 of 32 "brand ambassadors" of FTX so far, and they "will be suing the rest of them."
Institutional Investors Will Be Scared Away From Crypto for Some Time: Strategist
Who is going to stand to benefit from the FTX collapse? "People with big names and very large balance sheets," says Opimas CEO and founder Octavio Marenzi, referencing Fidelity and BNY Mellon. Plus, his outlook on institutional investment in crypto.
FTX Collapse Was a 'Human Failure': Economist
Newly appointed FTX CEO John Ray III condemned the management of the crypto exchange during Sam Bankman-Fried's tenure. "He was pointing out that largely what happened with FTX was a human failure," Crypto is Macro Now Economist Noelle Acheson said, adding "it is not a crypto-specific situation."
FTX Fallout Is a 'Confidence Crisis' In the Crypto Ecosystem
ConsenSys Head Economist Lex Sokolin discusses the FTX collapse and impact on the crypto industry, saying it's a "confidence crisis in the ecosystem as a whole." While the continued fallout from the now-bankrupt exchange is weighing on crypto prices, Sokolin argues, "prices are not the end goal."
Thomas Braziel on FTX Bankruptcy Timeline
Thomas Braziel, managing partner at distressed corporate specialist 507 Capital, predicts the legal road ahead for FTX, citing its huge venture portfolio. He discusses the timeline of the crypto exchange's bankruptcy and if users can expect to recoup their funds.
Hacken CEO: $600M FTX Hack Likely an Insider
Bankrupt cryptocurrency exchange FTX was hacked on Friday night, FTX officials confirmed. Hacken CEO Dyma Budorin breaks down how he thinks $600 million was drained and where it likely went.
FTX Collapse Potential 'Catalyst' For Regulatory Work: SEC Commissioner
SEC Commissioner Hester Peirce reflects on the developments unfolding from FTX, after the crypto exchange filed for bankruptcy protection in the U.S. "It can be a catalyst for us to sit down and do some of the regulatory work that's hard work," Peirce said.
Crypto Markets Entering the 'Depression' Phase Amid FTX Bankruptcy Filing
Following FTX's Chapter 11 bankruptcy filing and CEO Sam Bankman-Fried's resignation, bitcoin (BTC) immediately dipped to the $16,000 level. "There's likely more pain ahead before we can finally form a bottom," said Matt Weller, Forex.com Global Head of Research.
Trust Is Gained Over Time but Lost in an Instant: Analyst
Tokens related to cryptocurrency exchange FTX, including FTT and Solana (SOL), have fallen sharply amid contagion fears. Citi Digital Asset Analyst Joe Ayoub said "that's largely because of a lack of trust from users in these projects that are related to Sam [Bankman-Fried]."
CFTC Commissioner Addresses FTX Fallout
Following the fallout of FTX, "there may be an impetus to do something," CFTC Commissioner Kristin N. Johnson said. "I'm hopeful that Congress will take up the questions that we've described ... and close the regulatory gap, giving clear direction to the SEC and the CFTC."