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Reports of users trying to get their money off of FTX through alternative assets are growing.  Cointelegraph reported users attempted to purchase NFTs to circumvent the exchange freeze.  The Financial Times noted withdrawals of millions in Tether from FTX on a public blockchain.  Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading From NFTs to Tether, FTX users are trying everything they can to get their money off the crypto exchange

The FTX implosion is not a Lehman Brothers moment that will spread risk to stocks, according to Jeremy Siegel.”It’s not a Lehman moment because the value has already gone down so much,” Siegel said.One thing traditional assets like stocks and bonds have that crypto doesn’t is the backing of the Federal Reserve. Loading Something is… Continue reading Jeremy Siegel says the crypto meltdown sparked by FTX’s implosion is not a Lehman Brothers moment and won’t spread contagion to stocks

Experts have drawn comparisons between the collapse of crypto exchange FTX and the fall of Lehman Brothers in 2008. FTX on Friday filed for bankruptcy after it failed to secure a rescue.  Here’s how the two events compare and what FTX’s fall means for the broader financial system.  Loading Something is loading. Thanks for signing… Continue reading Crypto’s Lehman moment: Here’s how Sam Bankman-Fried’s FTX compares to the biggest collapse of the Global Financial Crisis

El Salvador doesn’t have any bitcoin holdings in FTX, Binance CEO Changpeng “CZ” Zhao tweeted Thursday. “I exchanged messages with President Nayib a few moments ago. He said ‘we don’t have any Bitcoin in FTX and we never had any business with them. Thank God!’” FTX filed for bankruptcy on Friday, and Sam Bankman-Fried stepped… Continue reading Binance chief CZ says El Salvador didn’t hold any bitcoin on Sam Bankman-Fried’s collapsing FTX

The inflation shock is over, but expect prices to remain sticky, strategists at Bank of America said. The bank pointed to rising wages and services prices, which could fuel inflation staying above the 20-year-average. That means the Fed is unlikely to cut rates next year unless there’s a recession, they warned. Loading Something is loading.… Continue reading Stocks may be set up for a bull run in 2023, but expect inflation to remain sticky and the Fed to keep rates high unless recession hits, Bank of America says

Tether briefly lost its dollar peg on Thursday after the implosion of FTX shook the confidence of the entire crypto market.Tether is the third largest cryptocurrency with a current market value of about $70 billion.The stablecoin fell to a low of $0.98 Thursday morning before recovering most of its losses. Loading Something is loading. Thanks… Continue reading Tether stablecoin loses its dollar peg as contagion from FTX’s collapse spreads through the crypto market

Sam Bankman-Fried’s FTX is on the verge of declaring bankruptcy after a shocking collapse this week.  Jefferies CEO Rich Handler said he could have helped FTX avoid its financial troubles if Bankman-Fried had taken a meeting with him months ago. Handler wrote in a July email that his firm’s expertise in rescuing financial services companies… Continue reading FTX’s Sam Bankman-Fried ignored a helping hand from the CEO of Jefferies 4 months ago as the exec tried to reach out with financial advice

European gas prices have plummeted 60% from their summertime peak, according to data from Bloomberg. Warmer weather ahead of winter as well as demand destruction from soaring energy costs has helped lower demand. But while it brings some relief, households are stil feeling the pain of massive price increases. Loading Something is loading. Thanks for… Continue reading European gas prices plummet 60% from summer peak as warm weather buffers storage ahead of the winter energy crisis