Crypto

FTX, the cryptocurrency exchange co-founded by Sam Bankman-Fried, has obtained approval from a bankruptcy judge to liquidate its digital assets for the purpose of repaying its creditors. FTX filed for bankruptcy in November after users and investors rapidly withdrew their funds.

Despite their astronomical value, the Bored Ape NFTs are currently facing a significant downturn. Since their launch in 2021, their prices have plummeted to an all-time low, reaching a mere $58,700 (approximately 43 lakh INR).

In addition to his football career, Cristiano Ronaldo is involved in various business ventures, ranging from his clothing lines to luxury fragrances. Now, it looks like he is all set to make waves in the NFT domain once again.

The fallen King of Crypto, Sam Bankman-Fried, spoke up for the first time in a blog post, after his arrest in the FTX bankruptcy and fraud case. He repeated the same thing he’s been saying since the collapse of the crypto trading firm, that he did not steal the billions of dollars.

Sam Bankman-Fried, once called the JP Morgan of cryptocurrency, was arrested in the Bahamas on Monday in the FTX cryptocurrency platform collapse case.

Ever since the cryptocurrency exchange FTX filed for bankruptcy on November 11, 30-year-old Sam Bankman-Fried has been swimming in troubled waters. The founder and former CEO of FTX now finds himself in the midst of a class action lawsuit against him, as well as FTX's celebrity backers such as TV personality Larry David, tennis player Naomi Osaka, and retired basketballer Shaqille O' Neal.

The impact of the FTX crash is not just limited to the investors who invested in these companies. It is also set to affect the crypto industry, the regulations industry, the philanthropist entities, and a shift of money into government-backed treasury bills. This is also set to trigger more crashes in share prices of other related companies (just like it happens in a recession) and reduce trust in 'experts'.

If you had heard of FTX before November 2, you would have known the company as one of the biggest crypto exchange platforms in the world. Now, the company is worth nothing, allegedly run by a 'gang of kids' who all dated each other.

For billionaire Kim Kardashian, $1.26 million is mere change. But even then, the $1.26 million is a costly fine to pay for a small Instagram post. American reality TV star Kim Kardashian is forced to pay $1.26 million (Rs 10.25 crore) in fine to the US SEC for an Instagram post she put out 2021.

NFTs are the funky, futuristic place for crypto bros and cool people. But who knew that even terror groups like the IS (Islamic State) would be into the funky trading? Move aside Bored Ape, it's time for some terrorist propaganda NFTs to steal the limelight.