Bitcoin News and Finance: What You Need to Know

Investment firm Paradigm is still optimistic about crypto’s potential following the collapse of FTX. “The blowup of FTX has caused some to question crypto’s value. But the issues at FTX are precisely ones that decentralized finance [defi] can solve through increased transparency and security,” the firm’s co-founder emphasized. Paradigm on FTX Collapse, Defi Paradigm co-founder Matt Huang took to Twitter to explain the impact cryptocurrency exchange FTX’s collapse has on his company. Paradigm is a San Francisco-based investment firm focused on supporting crypto and Web3 companies and protocols. “We are shocked by the revelations about FTX, Alameda, and SBF,” he began. FTX and trading firm Alameda Research filed for Chapter 11 bankruptcy last week. Both companies were founded by Sam Bankman-Fried (SBF), who has stepped down as the CEO of FTX. “Facts are still coming to light, and there will be many lessons to learn,” Huang added, elaborating: We feel deep regret for having invest...

Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett’s right-hand man, has commented on the collapse of crypto exchange FTX, stating that “it is partly fraud and party delusion.” Noting that “the country did not need a currency that’s good for kidnappers,” he stressed: “I basically like the existence of the Fed … I hate bitcoin promoters.” He also said that Tesla’s success is a “minor miracle.” Berkshire’s Charlie Munger on Bitcoin, FTX Collapse, the Fed, Tesla, and Elon Musk Charlie Munger, Warren Buffett’s right-hand man and longtime business partner, has made fresh comments about bitcoin and the collapse of crypto exchange FTX. “It pains me that in my own country, I see people that were once regarded as very reputable people helping these things exist,” the 98-year-old Berkshire Hathaway vice chairman said, adding: This is a very very bad thing. The country did not need a currency that’s good for kidnappers and so on. He noted that it depresses him that some peopl...

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says that he would again back Sam Bankman-Fried (SBF), the former CEO of the collapsed crypto exchange FTX. “You can’t be serious,” many people told O’Leary, alleging that SBF is a fraud who stole billions from FTX customers. Kevin O’Leary Ignores Evidence of Fraud, Says He’d Back ex-FTX CEO Sam Bankman-Fried Again Shark Tank star Kevin O’Leary has shocked many people when he said on the Crypto Banter podcast, published Tuesday, that he would still back Sam Bankman-Fried (SBF), the former CEO of the collapsed crypto exchange FTX. Last week, the crypto company filed for Chapter 11 bankruptcy and Bankman-Fried stepped down as the CEO. O’Leary has an equity stake in FTX and has signed a multiyear deal to become the crypto exchange’s ambassador and spokesperson. His compensation was paid in crypto and managed on the FTX platform. “If SBF knocked on your door again and said, ‘Look I failed in my last venture, I have a new crypto ventu...

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says bitcoin is not the problem following the collapse of cryptocurrency exchange FTX. Kiyosaki believes that former FTX CEO Sam Bankman-Fried is more like the Bernie Madoff of crypto than the Warren Buffett of crypto. Robert Kiyosaki on Bitcoin, FTX Blowup, Bernie Madoff The author of Rich Dad Poor Dad, Robert Kiyosaki, has shared his thoughts about bitcoin, the collapsed crypto exchange FTX, and its former CEO Sam Bankman-Fried (SBF). FTX filed for bankruptcy last week and Bankman-Fried stepped down as the CEO of the company. Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. Following the implosion of FTX, many people rushed to exit the crypto space, which led to heavy market sell-offs. However, K...

The collapse of FTX and subsequent calls for tougher regulation by the likes of U.S. Senator Elizabeth Warren have increased the likelihood of regulators adopting even stricter crypto laws. In Africa, crypto industry participants warn of the unintended consequences arising from rushed and over-restrictive regulations. The Game-Changing Role of Crypto in Africa As the crypto industry continues to grapple with the ramifications of FTX’s collapse and the resulting loss of trust, regulators have been quick to use this incident to support their call for more stringent regulations. Opponents of bitcoin and decentralized digital assets like U.S. Senator Elizabeth Warren have blasted regulators for allowing entities such as FTX to operate outside regulation. Compounding matters for crypto enthusiasts who may want to lobby against damaging legislation is the impression that crypto entrepreneurs are not bound or guided by any known code of conduct. Critics of the industry believe this lack o...

Claims that Ukraine has invested military aid into the bankrupt crypto exchange FTX have been rebutted by a representative of the Ukrainian government. Speculation circulated on social media suggested such funds have been returning to the U.S. via FTX donations for the Democratic Party. Kyiv Official Describes as Nonsense Allegation That Ukrainian Investment in FTX Funded Democrats Deputy Minister of Digital Transformation of Ukraine, Oleksandr (Alex) Bornyakov, has rejected claims that money sent in support of his war-torn nation has been invested in FTX, one of the largest cryptocurrency exchanges which is currently in bankruptcy proceedings . The rumors spread on social media last week with some commenters linking the alleged investment in FTX to donations made by the troubled coin trading platform to the Democratic Party in the United States. #BREAKING ⚡️🇺🇦UKRAINE “MILITARY AID” FROM USA – WAS INVESTED IN CRYPTO “FTX” BY UKRAINE! — UKR REPORT (@UKR_Report) November 12, 20...