FTX Bankman-Fried now “living on credit cards”

Published

1 year ago

December 2, 2022

Sam Bankman-Fried, the former boss of collapsed cryptocurrency exchange FTX, has denied committing fraud.

In a series of interviews to news agencies including the New York Times, ABC America and CNBC, the man once hailed as the ‘King of Crypto’ says he had a bad month and is almost broke.

FTX fell apart last month, having once been valued at $32bn.

Many investors have not been able to withdraw their funds from the now-bankrupt global exchange.

30-year-old Bankman-Fried has apologised to investors.

He denied having moved any personal money out of FTX himself – saying he now has “close to nothing.”

Speaking from The Bahamas, he said he had one credit card left.

In the interview, he said he had not deliberately misled investors.

Why the meme-stock frenzy is unlikely to repeat

Published

14 hours ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

18 hours ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

2 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending