Members of the crypto community published their sentiments on social media in response to the former FTX CEO Sam Bankman-Fried’s reportedly meeting with Michael Lewis, the writer of the popular trading-focused film, The Big Short. With a potential blockbuster film seemingly on the way, community members called out Bankman-Fried’s antics, from describing the meeting as “absurd” to saying that Lewis should also be investigated. In a tweet, a community member mentioned that this could be an attempt to cover for criminals and “control the narrative” through a book. Meanwhile, Bitcoin advocate Nic Carter suggested that Lewis also needs to be …

While the government agencies are queuing to sue the FTX and its founder Sam Bankman-Fried, the group of former customers made an effort to get their money back first. A class lawsuit initiated by four individuals demands priority access to frozen funds of the company for its customers, not investors. The lawsuit was filed on Dec. 27 in the United States Bankruptcy Court for the District of Delaware. Four plaintiffs claim to be representing the whole class of former FTX customers, which might amass up to 1 million individuals. What the lawsuit seeks to obtain are the priority rights to …

The crypto wallets associated with now-bankrupt trading firm Alameda Research, the sister company of FTX, were seen transferring out funds just days after the former CEO Sam Bankman Fried was released on a $250 million bond. The transfer of funds from Alameda wallets raised community curiosity, but more than that, the way in which these funds were transferred grabbed the community’s attention. The Alameda wallet was found to be swapping bits of ERC20s for ETH/USDT, and then the Ether (ETH) and USDT (USDT) were funneled through instant exchangers and mixers. For example, a wallet address that starts with 0x64e9 received …

Sam Bankman-Fried, the disgraced founder of cryptocurrency exchange FTX, borrowed over $546 million from the exchange’s sister firm Alameda Research to fund his purchase of Robinhood shares. Those same shares were later used by Bankman-Fried as collateral for a loan taken by Alameda from BlockFi, one of the entities that are laying claim to the shares. An affidavit by Bankman-Fried filed in the Antigua and Barbuda High Court on Dec. 12 — the day of his arrest — and made public on Dec. 27, revealed he and FTX co-founder Zixiao “Gary” Wang took out the loans from Alameda through four …

According to a Bloomberg report published on Dec. 27, the U.S. Department of Justice has launched an investigation into the whereabouts of approximately $372 million in missing digital assets from now-defunct cryptocurrency exchange FTX and FTX US. On Nov. 12, amidst bankruptcy and internal collapse, FTX warned customers of abnormal wallet activity regarding at least 228,523 Ether (ETH) transferred out of the exchange from an unknown perpetrator. On Nov. 11, or the night of the company's bankruptcy filing, FTX US' general counsel Ryne Miller confirmed that the transactions were unauthorized and that the subsidiary exchange had moved all crypto to …

Cointelegraph looks back on the best and worst-performing cryptocurrencies of 2022 among the top 100 assets by market capitalization. We used the highest and the lowest year-to-date (YTD) returns through the close of Dec. 25, 2022. Overall, Cryptoindex.com 100 (CIX100), an index that tracks the 100 best-performing cryptocurrencies, fell nearly 68% YTD, suggesting most top coins underperformed in 2022. Stablecoins are naturalomitted from the list below. Similarly, coins tracking the value of gold and similar mainstream assets have also been ignored. Instead, the coins mentioned below include decentralized currencies, smart contract tokens, exchange tokens, and others. Top five crypto of …

The online community including some cryptocurrency figures has condemned the latest so-called “sympathy” articles from The New York Times — written about FTX founder Sam Bankman-Fried. Throughout the article published on Dec. 26 titled In the Bahamas, a Lingering Sympathy for Sam Bankman-Fried, The New York Times journalist Rob Copeland interviewed local Bahamians who appeared to have mostly positive things to say about the cryptocurrency exchange founder. One resident opined he had a “good heart” with another local saying they “feel bad for him.” A resident interviewed for the article even said it “doesn't make any sense” that Bankman-Fried’s alleged …

FTX founder Sam Bankman Fried (SBF) has been given some free advice on surviving federal prison from former white collar criminal Martin Shkreli, known also as “Pharma Bro.” Shkreli, who spent around four years behind bars for securities fraud between 2018 and 2022, told the currently-on-bail former FTX executive that he should consider shaving his head, deepening his voice and skill himself up on gang culture and rap music. The former prison inmate was speaking on a Dec. 23 episode of the crypto podcast Unchained, where he suggested that SBF needed to rebrand himself for jail, as being a rich …

2022 has been a bumpy year for the cryptocurrency market, with one of the worst bear markets on record and the downfall of some major platforms within the space. The global economy is beginning to feel the consequences of the pandemic, and clearly, this has had an influence on the crypto industry. Below is a breakdown of some of the biggest disappointments in the crypto space this year. Axie Infinity’s Ronin Bridge hacked In March of this year, Ronin, the blockchain network that runs the popular nonfungible token (NFT) crypto game Axie Infinity, was hacked for $625 million. The hacker …

The momentary arrest of former FTX CEO Sam Bankman-Fried (SBF) can be attributed to the efforts taken by the crypto community to aid investigations and track down the whereabouts of the infamous entrepreneur. While SBF eventually escaped prison time via a $250 million bail bond, the community continues to monitor his every move publicly. Just three days after being released on a personal recognizance bond, a crypto community member allegedly spotted SBF “chilling” in a John F. Kennedy International Airport lounge. The supporting images were shared on Twitter by @litcapital, which shows SBF sitting on a lounge chair with access …

The bear market and the wave of bankruptcies in the crypto industry drained $116 billion from the pockets of founders and investors in the past nine months, according to recent estimates by Forbes. The loss represents the combined personal equity of 17 people in the space, with over 15 losing more than half of their fortunes since March. As a result, 10 names were removed from the crypto billionaires list. One of the major losses was attributed to Binance CEO Changpeng "CZ" Zhao. In March, his 70% stake in the crypto exchange was valued at $65 billion, but it is …

After a lackluster rise of crypto in 2021, which saw many new crypto millionaires and several crypto startups attain unicorn status, came the dramatic fall in 2022. The industry was plagued by macroeconomic pressures, scandals and meltdowns that wiped out fortunes virtually overnight. As 2022 comes to a close, many crypto proponents are perplexed about the state of the industry, especially in light of the recent FTX collapse and the contagion it has caused, taking down several firms associated with it. Many who couldn’t stop talking about crypto and recommending their family to invest in it last year at Christmas …