FTX Not Bankrupt, 'Our Balance Sheet is Just Highly Decentralized'
London - Sam Bankman-Fried, the billionaire founder of crypto exchange FTX, sought to reassure crypto investors on Monday after a rival exchange, Binance, said it would liquidate its holdings of FTX's native token. The exchange was catapulted into a crisis after Changpeng “CZ” Zhao, founder of rival Binance Holdings Ltd., announced plans to sell some $530 million worth of FTX’s utility token FTT, citing “recent revelations.” Binance had received the tokens when it sold a stake in FTX last year. FTT plunged soon after. "A competitor is trying to go after us with false rumors," FTX's Bankman-Fried said in a series of tweets on Monday. "FTX is fine. Assets are fine. Our balance sheet is just… read more 🏃♀️
Coinbase Makes Desperate Plea for Fiat Currency
(Wall Street, New York) Coinbase is asking the public to help it acquire hundreds and hundreds of millions of dollars of fiat currency in USD today. The bold move comes via a direct listing on the NASDAQ stock exchange and just as Bitcoin and other popular cryptocurrencies have experienced a wave of enormous interest and all-time-high prices. Many thought Coinbase would choose to avoid an IPO or direct listing, given popular and pervading views on the future of money within the cryptocurrency community. But it appears that fiat currency and lots of it is what Coinbase needs at the moment. Brian Armstrong, CEO of Coinbase, had this to say about the direct listing: “We literally have no money… read more 🏃♀️
WeWork to Accept Oil Barrels As Tenants
(United States) - Markets and companies are facing fresh uncertainty and volatility as the price of oil plummeted below $0 today. But some companies are looking for a silver lining. WeWork , erstwhile darling of Silicon Valley, is working hard to help ease the part it played in SoftBank's $24 million billion loss by accepting oil barrels as tenants. "We are very excited to welcome our new tenants from West Texas to spaces across the country. We've prepared everything for them to be as comfortable and productive as possible, from places to be stacked floor-to-celing to...that's about it. Really we're just very excited to have tenants that might be worth something someday. Wait wait - can you… read more 🏃♀️