The founders of 3AC, who are currently on the run, are raising $25M for a new crypto exchange called (no joke) GTX. Su Zhu and Kyle Davies, the founders of collapsed crypto hedge fund Three […]
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Digital, tech & innovation narratives curated from across the web
Category: Finance
Tether Exposed: The Most Well-Known Secret In Crypto
While Tether enjoys a reputation as one of the most ‘useful’ assets in the world of crypto today, it has a long and sinister backstory, pockmarked by fraud, conspiracy and all flavours of criminal activity. […]
The Infrastructure Behind ATMs
While originally being concentrated in bank branches and operated just for the owning bank, ATMs quickly became a business in their own right. ATMs are a fascinating example of a pattern we see a lot […]
SBF’s Substack Shows He Will Always Be in Our Face
It was a reasonable assumption to think that now that SBF had been charged with Federal crimes that could result in a sentence of over 150 years, that he would start listening to attorneys and […]
Crypto’s Tax Shelter Problem
Playing hide-and-seek from tax havens is hardly a new game, but for blowup-prone crypto companies and investors, it’s an increasingly problematic one. Playing hide-and-seek among crypto’s toy villages has become a hallowed pastime. Tether and […]
U.S. Securities Regulator Probes FTX Investors’ Due Diligence
The U.S. Securities and Exchange Commission (SEC) is seeking details about FTX investors’ due diligence, according to two sources familiar with the inquiry, as fallout from the crypto firm’s collapse spreads. The SEC has so […]
Is Binance the Next Domino to Fall?
The world’s largest crypto exchange is much like FTX — but with more red flags. It’s been almost two months since Sam Bankman-Fried’s crypto empire came crashing down. The collapse of crypto exchange FTX and […]
The Future of Business Banking and Cash Management
The digitization of B2B payments is inevitable in the decades to come. When Henrique Dubugras and Pedro Franceschi joined the YC W17 batch with an idea for a VR startup, they quickly encountered a problem. […]
FTX Goes to Zero w/ Molly White
Paris Marx is joined by Molly White to discuss the ongoing collapse of the crypto industry, what to make of the implosion of FTX and Alameda Research, and what happens next with Sam Bankman-Fried. Molly […]
Sam Bankman-Fried’s Former Friends Pleaded Guilty and are Cooperating in the FTX Fraud Case
Former FTX co-founder Gary Wang and former Alameda Research CEO Caroline Ellison are facing up to 50 years and 110 years in prison, respectively. Caroline Ellison and Zixiao “Gary” Wang, two executives in Sam Bankman-Fried’s […]
Binance Was Once FTX’s Rival. Now It’s Trying Not To Be Its Sequel
Fallout from the catastrophic collapse of the cryptocurrency exchange FTX continues to spread, and fear and panic has now turned to FTX’s one-time rival, Binance. Approximately $1.14 billion was withdrawn from Binance on Tuesday, as […]
‘Bank of Twitter’: Is Elon Musk Spitballing?
Elon Musk is seriously considering putting Twitter into the payments business to make it profitable. Will the blue bird fly? Can Elon Musk turn Twitter, a social media platform that’s as much a lightning rod […]
How Web Platforms Collapse: Facebook Case Study
Facebook’s real problem is that it became so obsessed with controlling users that it lost sight of all other goals. How can you fail by being too powerful? But this has happened in many instances, […]
Coffeezilla Accidentally Interviewed SBF And He Hated It
Coffeezilla interviews Sam Bankman Freed and SBF hated it so much that he left within minutes in part because he didn’t know who he was being interviewed by. Coffeezilla: I mean I saw your Stephanopoulos […]
The 2022 McKinsey Global Payments Report
Changes in the global landscape are creating opportunities for incumbents and disruptors to win customers, develop new solutions, and claim market share. In short, the payments chessboard is being rearranged. Key findings in the Mckinsey […]
First Full Interview Post- Bankruptcy with Sam Bankman-Fried
In his post-bankruptcy phone call interview, Sam Bankman-Fried or SBF, former CEO and founder of FTX, chats with Tiffany Fong about filing for Chapter 11 bankruptcy, the alleged backdoor and more. Sam claims he gave […]
Sam Bankman-Fried Tries to Explain Himself
The fallen crypto CEO on what went wrong, why he did what he did, and what lies he told along the way. Last night, Sam Bankman-Fried DMed me on Twitter. That was surprising. I’d spoken […]
FTX’s New CEO Says He’s Never Seen Such a ‘Complete Failure’ and ‘Absence of Trustworthy Financial Information’
The new CEO of the collapse cryptocurrency trading firm FTX, who oversaw Enron’s bankruptcy, said he has never seen such a “complete failure” of corporate control. John Ray III, in a filing with the U.S. […]
What Happened at Alameda Research?
There are many competing theories available of exactly how Alameda and FTX burned through as many billions of dollars as they did, the reality of the matter looks something much like a combination of all […]
FTX Tapped Into Customer Accounts to Fund Risky Bets
Crypto exchange FTX lent billions of dollars worth of customer assets to fund risky bets by its affiliated trading firm, Alameda Research, setting the stage for the exchange’s implosion. FTX Chief Executive Sam Bankman-Fried said […]
Twitter Files Paperwork to Enter the Payments Business
Mr. Musk, the social media service’s new owner, has been looking for ways to generate more revenue at the company. With little warning, in front of hordes of listeners, Elon Musk on Wednesday laid out […]
Why Advertisers Leaving Twitter Benefits Elon Musk
A new model is required to insulate the company from activist pressure. It seems like selling blue ticks is only the beginning of Musk’s plans. In a short video released by the company, Musk and […]
Binance Launches a Speculative Attack Against FTX, and Wins
After less than 48 hours of stop-hunting for FTX’s liquidation target, Binance successfully depressed the assets of its largest competitor. Off the heels of a CoinDesk piece that leaked Alameda’s balance sheet conditions, it was […]
Extropicoin Extrapolated
Jon Evans explores how many of the 90s cypherpunks were also 90s extropians. Bitcoin was, of course, created by the pseudonymous figure Satoshi Nakamoto, but it’s well understood that Satoshi built on a sizable stack […]
“The Rail Thing”: The UK’s New Payments Architecture
Mark Nalder from building society Nationwide, Pay.UK’s Shane Warman, and Andrew Moseley at payments provider ACI Worldwide consider the opportunities presented by the biggest change to the UK’s A2A payments system in more than a […]
Interview with Jim Magats, CEO of MX
How does this trio of former PayPal execs plan to lead MX to dominance in the banking data space? They say timing is everything. And for Jim Magats, the new CEO of financial data aggregator […]
Time to Get Fit — an Open Letter from Altimeter to Mark Zuckerberg
Long term Meta investor Brad Gerstner has posted an open letter expressing concern with Mark Zuckerberg’s investment in the metaverse. As you know, we are long-term shareholders. Despite public skepticism — at times warranted — […]
Faster Payments with FedNow
Jared Franklin, an investor at Costanoa Ventures and long-time fintech operator, provides an overview of where we’re at (and where we might be heading) with faster payments in the U.S. Defining faster payments There are […]
The Future of Financial Services
How does the financial services industry move beyond just the buzzword of “digital transformation” and translate this into real business outcomes? fintech_devcon is a conference for fintech developers and builders designed to unlock knowledge and […]
Metaverse Deep Dive – Decoding the Buzzword
The high level of interest and curiosity by users and corporations is rising – no doubt, but let us create some understanding of what exactly the metaverse is. As Dr.Martha Boeckenfeld mentions, if you put […]