FTX crypto founder Sam Bankman-Fried thought jail would be 'like The Shawshank Redemption': report
Disgraced FTX founder Sam Bankman-Fried reportedly said that he thought his time in prison in the Bahamas would be like the 1994 film "The Shawshank Redemption."
Wall Street is 100% in a bull market: Ryan Payne
Payne Capital Management president Ryan Payne and The Fitz-Gerlad Group principal Keith Fitz-Gerald analyze positive economic data ahead of the Fed's January FOMC meeting on 'The Claman Countdown.'
Kevin O'Leary: Under Elizabeth Warren, businesses are 'punished for success'
Millionaire businessman and television personality Kevin O'Leary, a.k.a. Mr. Wonderful, predicts more bankruptcies after the FTX fallout, and discusses his $45 million investment in North Dakota.
Bitcoin world's most hated cryptocurrency
Bitcoin’s recent beatdown didn’t do the cryptocurrency any favors among global investors, but it did give rivals Ethereum and Solana a boost, according to a new survey.
Luno crypto exchange announces job cuts affecting 35% of employees
Luno, a cryptocurrency exchange owned by Digital Currency Group, announced a large round of job cuts on Wednesday, which will affect 35% of the firm's headcount.
House launches new subcommittee on regulating cryptocurrency
Fox News senior congressional correspondent Chad Pergram reports from Capitol Hill, where crypto is largely unregulated.
FBI says North Korea-related hacker group behind US crypto firm heist
The FBI said North Korea's theft and laundering of virtual currency is used to support its ballistic missile and Weapons of Mass Destruction programs.
Binance moved $346M for seized crypto exchange Bitzlato, data shows
Binance, the world's largest crypto exchange, was among Bitzlato's top three counterparties by the amount of bitcoin received between May 2018 and September 2022, the FinCEN said.
Sam Bankman-Fried needs to 'zip it': Ira Sorkin
Mintz & Gold partner Ira Sorkin discusses if accused fraudster Sam Bankman-Fried's 'loose lips' will hurt his criminal case on 'The Claman Countdown.'
Crypto 'not out of the woods yet': Sean Duffy
'The Bottom Line' co-host Sean Duffy discovers Ron Klain stepping down amid Biden's classified documents discovery, cryptocurrency bouncing back and a WaPo writer claiming sleepovers are filled with threats.
Bitcoin jumped over 10 percent in value last week
'The Bottom Line' co-host Sean Duffy discusses Bitcoin and his new FOX Business show.
Sam Bankman-Fried tweets away while under house arrest
Disgraced FTX founder Sam Bankman-Fried is not staying quiet while under house arrest, using Twitter to weigh in as he awaits trial on several federal charges.
FTX scandal rocks Florida school district; victims may include high school teens
The mystery of how former FTX CEO Sam Bankman-Fried went from saint to sinner may never be fully answered, but it continues to stun people, including his colleagues in the crypto industry.
Marc Litt on Madoff-Sam Bankman-Fried parallels: ‘Fraud is fraud’
Marc Litt, lead deputy U.S. attorney in the criminal investigation of Bernie Madoff, compares the similarities and differences between Madoff’s Ponzi scheme and Sam Bankman-Fried’s FTX collapse.
Jamie Dimon mocks crypto, says it’s a ‘pet rock’
JPMorgan Chase CEO Jamie Dimon voiced his dislike of cryptocurrency in a CNBC interview Thursday. He called it a "pet rock" and said it "doesn't do anything."
FTX cryptocurrency jumps more than 35% after CEO John Ray says bankrupt crypto exchange may restart
FTX's FTT token surged in value Thursday morning after the Wall Street Journal published an interview in which CEO John Ray III said the bankrupt crypto exchange may restart.
Bitzlato cryptocurrency founder arrested, accused of illegal money transfers worth hundreds of millions
A Russian national who founded a crytpcurrency exchange was arrested Tuesday in Miami and is accused of evading U.S. financial regulations and permitting illicit financial transactions on his platform.
GOP willing to play 'game of chicken' to cut Biden's 'unprecedented' spending: Rep. Andy Ogles
Tennessee Republican Rep. Andy Ogles discusses the likelihood of a government shutdown and efforts to regulate the cryptocurrency market on 'Cavuto: Coast to Coast.'
Coinbase halting operations in Japan a week after laying off hundreds of employees
Coinbase will stop its operations in Japan due to market conditions after announcing the company would layoff 950 employees to reduce operating expenses.
FTX says hackers stole $415M after cryptocurrency exchange filed for bankruptcy
FTX met with debtors on Tuesday and reported that approximately $415 million in customer funds had been stolen shortly after the company filed for bankruptcy last November.
Cryptocurrency FAQs
What is Cryptocurrency?
Cryptocurrency, or crypto, is a form of digital asset that is secured by cryptography and the blockchain. The most notable example of a cryptocurrency is bitcoin, though thousands of other similar assets exist. Cryptocurrencies are regarded by many as the money tech of the future due to their accessibility and un-censorable nature.
How do cryptocurrencies work?
Cryptocurrency networks, or blockchains, are independently verified by a matrix of computers that record all transactions and ensure a consensus throughout the chain. This means that all network information is recorded immutably and permanently; transactions cannot be prevented, blocked, or changed. Network participants can thus trust each other and transact without the need for a centralized intermediary.
How can I buy a cryptocurrency?
There are many markets for cryptocurrencies where you can exchange USD for the cryptocurrency of your choice. These include centralized exchanges and services such as Coinbase and PayPal, or decentralized alternatives like UniSwap where you can swap between crypto-assets. To use a centralized exchange, you’ll need to submit personal information such as your passport or driver’s license. Note that the price of digital assets can change rapidly, so timing your purchases well is essential.
Where can I keep my crypto coins?
Cryptocurrencies can usually be held with the exchange or business you bought them from. However, as these exchanges can be hacked, it is advisable to move your assets to your own personal wallet. These wallets are more secure and can be accessed from your laptop, phone, or other mobile devices.
What can I buy with crypto?
Real work adoption of crypto is still ongoing. However, more businesses are accepting crypto and you can buy goods and services as diverse as real estate, stocks, travel, gambling, websites, and much more. This trend should continue over time as cryptocurrencies become better known, accepted and trusted.
Pros and cons of investing in a cryptocurrency
You may have read the news that crypto has broken all-time highs recently. This is the main advantage, that we are early in the asset’s history and prices have generally gone rapidly upwards. However, you should be aware that volatility is significant and you can similarly lose money quickly if your timing is poor. Security is also a major issue and you must ensure you secure your crypto and transactions well or you could become a victim of theft or fraud.