Bitcoin News and Finance: What You Need to Know

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has revealed that the collapsed crypto exchange FTX paid him about $15 million to become its spokesperson. “I put about $9.7 million into crypto. I think that’s what I lost. I don’t know. It’s all at zero,” O’Leary said. Kevin O’Leary Was Paid $15M by FTX Shark Tank star Kevin O’Leary revealed in an interview with CNBC Thursday that the collapsed crypto exchange FTX paid him about $15 million last year to become its spokesperson . Noting that he fell prey to “groupthink,” O’Leary detailed: Total deal was just under $15 million, all in … I put about $9.7 million into crypto. I think that’s what I lost. I don’t know. It’s all at zero. The Shark Tank star further revealed that he also had over $1 million of FTX equity, which is now rendered worthless due to the bankruptcy protection process. In addition, Mr. Wonderful explained that the balance of a little over $4 million was purportedly eaten up by taxation and agent fees. He admi...

Two congressional hearings will be held next week on the collapse of cryptocurrency exchange FTX and U.S. lawmakers have asked former FTX CEO Sam Bankman-Fried (SBF) to testify. As the founder of FTX and Alameda Research, “you must answer for the failure of both entities that was caused, at least in part, by the clear misuse of client funds and wiped out billions of dollars owed to over a million creditors,” Senator Sherrod Brown told Bankman-Fried. 2 Congressional Hearings on FTX Set for Next Week The House Committee on Financial Services and the Senate Committee on Banking, Housing, and Urban Affairs are separately holding a hearing on the collapse of crypto exchange FTX next week. U.S. Senator Sherrod Brown (D-Ohio), chair of the Committee on Banking, Housing, and Urban Affairs, sent a letter to former FTX CEO Sam Bankman-Fried (SBF) Wednesday asking him to attend his committee’s hearing titled “Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers” that will take pla...

Jordan Belfort, aka the Wolf of Wall Street, expects bitcoin and ethereum to be “a lot higher” than they are now. Noting that the collapsed crypto exchange FTX is a scam, he stressed that its implosion “doesn’t mean that you can disregard bitcoin completely and say it’s worthless or going to zero.” The Wolf of Wall Street Calls FTX a Scam Jordan Belfort, a former stockbroker whose memoir was adapted into a film called “The Wolf of Wall Street,” shared some recommendations about bitcoin and ethereum in a video posted on his Youtube channel Monday. The film was directed by Martin Scorsese and starred Leonardo DiCaprio. Belfort founded Stratton Oakmont which functioned as a boiler room that marketed penny stocks and defrauded investors with pump-and-dump stock sales. He became a motivational speaker after pleading guilty to fraud in 1999 and went to prison for 22 months. Regarding FTX, the crypto exchange that imploded and filed for bankruptcy on Nov. 11, the Wolf of Wall Street des...

The U.S. dollar price of ether, which presently hovers around $1,200, is expected to fall to $922.66 by Dec. 10, a Coincodex prediction chart has shown. Ethereum is nonetheless projected to close the following day trading above $1,000. According to the Coincodex analysis, there are presently 15 technical indicators out of a total of 28 that project a bearish outlook for the asset. ETH ’s Negative Trend According to an analysis by the digital asset exchange platform Coincodex, the U.S. dollar value of ETH is expected to drop to $922.66 by Dec. 10. The analysis suggests ether price, which stood at $1,230 on Dec. 7 (1:00 p.m. EST), must decline by almost 25% for this prediction to become a reality. In a report which shares some factors that led to the negative price prediction, the Coincodex team also points to ETH ’s negative trend which can be evidenced by its 21.5% decline between Nov. 5 and Dec. 5. Similarly, in a period of 90 days that ended on Dec. 5, the crypto asset’s price ...