The crypto meltdown, explained | CNN Business

  • 📰 cnni
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 59%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

It's been a month that cryptocurrency investors will never forget. And the worst may be yet to come. How did we get here? And can crypto survive? The saga is far from over, but if you’re just tuning in, here’s what you need to know.

Over the past two weeks, the digital asset industry has watched in horror as FTX, the multi-billion-dollar crypto exchange created by one of its biggest and brightest stars, Sam Bankman-Fried, imploded. The failure of FTX, shook the foundations of the entire ecosystem. Token prices tumbled across the board as investors rushed to exit risky positions. Contagion followed.

Similarly, the Ontario Teachers’ Pension Plan, which invested $95 million, said it now believes that investment is worthless. Roughly 1 million others may have lost all the money they put into FTX. Binance, meanwhile, is stepping in as a potential lifeline for companies hit by FTX’s collapse. Its CEO, Changpeng Zhao, said Monday that his team would establish “an industry recovery fund,” for projects facing a liquidity crisis.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 326. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

How dare you cover this story!! SBF and FTX were major Democratic donors. The fact they may have been laundering US $ from Ukraine back into the Democratic campaign should, at the very least, give you reason not to put this in the public forum.

It was just a money laundering scam to get money from the US tax payers sent to Ukraine, which was then 'invested' in crypto, then donated to Democrats for the 2022 election. This statement screams 'conspiracy theory', however, it is 100% verified as accurate.

S.m.f donated 40 millon to democrat campaigns the media is silent shocking

Why haven't democrats refunding the stolen money thet received?

HosseinRonaghi suffer from problems such as inability to walk, inability to speak, downward trend and very low heartbeat, low blood pressure, kidney failure, severe anemia, impaired vision, bloody vomiting and.... During this time, he lost 27 kilos in 2 month. Please help us. 3

doctors examined him again and they all believe that if he will not be treated in hospital ,he will definitely die in the next 4-5 days but the regime still refuse to transfer Hossein to the hospital. islamic republic are trying to kill him. 2 HosseinRonaghi

HosseinRonaghi, a prominent Iranian character,He was arrested about 2 months ago, after 4 days his brother announced that he has been informed that both of Ronaghi's legs and one of his fingers has been broken under torture and he has started his hunger strike. 1

here's what you need to know:

No mention of the fraud SBF committed (stealing user deposits) or “hacks” perpetuated by SBF himself. Just painting him as a smart kid in over his head when this is the biggest financial crime in history. People will remember.

They are all doing it

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Biden to sit down with business, labor leaders to highlight inflation progress | CNN BusinessPresident Joe Biden will sit down Friday with business executives and labor leaders to highlight recent progress in combating inflation and steadying the economy, a White House official told CNN. Alright guys u know the drill.....make them do all the work....pay them cheap and charge them high....real high....so high they never notice we all in it together to bleed the human race dry for paper....well the representation of the paper Translation - his big business donors are going to rip him a new one over his dismal economic performance. He’s been “sitting down” on the job for 2 years
Source: CNN - 🏆 4. / 95 Read more »

US home sales fall for 9th month in a row in October | CNN BusinessHome sales in the US declined for the ninth month in a row in October as surging mortgage rates and high prices pushed buyers out of the market.
Source: CNN - 🏆 4. / 95 Read more »

House Republicans vow to investigate Biden and his family's business dealings | CNN PoliticsAfter clinching the majority in the House of Representatives in the midterm elections, top Republicans on Thursday outlined a broad range of investigative targets focused on President Joe Biden and his family's business dealings. 10% for the big guy!!! Keep funneling that money into Ukraine, nothing to see here folks..... Every circus needs clowns, but I didn't think we'd see over 218 of them. American people to GOP: what's your solution for inflation and gas prices? GOP: Hunter Biden.
Source: CNN - 🏆 4. / 95 Read more »

Twitter employees head for the exits after Elon Musk' 'extremely hardcore' work ultimatum | CNN BusinessAnother employee exodus appears to be underway at Twitter as many workers rejected Elon Musk's ultimatum to work 'extremely hardcore,' choosing instead to depart the company, according to multiple current and former employees. Has it been clarified what “extremely hardcore” means? A lot of dev, engineers, support, pretty much anyone in a build position tend to work more than 50 hours a week as is. I mean I’m in a compliance type role and I end up doing more than 40. Twitter employees embodying the stereotype. And the site works as well as ever. Sounds like he found a way to reduce headcount voluntarily.
Source: CNN - 🏆 4. / 95 Read more »

Foxconn has recruited 100,000 new workers for largest iPhone factory, state media reports | CNN BusinessMore than 100,000 people have signed up for a massive recruitment drive by Apple's supplier Foxconn for the largest iPhone factory in China, according to Chinese state media. I don't get the chip thing. How Taiwan is so valuable. If China has Foxconn, Foxconn have been around for years. So why does China need Taiwan? Apple doesn't seem to learn. 伟大领袖习特勒将军万岁,14亿人工猪能机器奴隶支持共独必胜。
Source: cnni - 🏆 326. / 59 Read more »