Charles Payne: I hope the FTX saga will be the ultimate wake up call for Americans
FOX Business host Charles Payne reacts to the FTX meltdown on 'Making Money.'
Sam Bankman-Fried has massive backing: Mark Moss
'The Mark Moss Show' host reacts to the former FTX CEO's massive donations to the Democratic Party on 'Making Money.'
How FTX bought its way to become the 'most regulated' crypto exchange
FTX collapsed after a futile bid by Sam Bankman-Fried to raise emergency funds. It came under regulatory oversight through the dozens of licenses it picked up via its many acquisitions.
CEO accused of instigating FTX collapse details Sam Bankman-Fried's ‘lies’ and ‘straw that broke camel's back’
Binance CEO Changpeng Zhao discusses the latest news from the historic collapse of the cryptocurrency exchange platform FTX and its impact on his company.
FTX collapse certainly an 'Enron moment': Ronald Chapman
Federal defense attorney Ronald Chapman discusses the class-action lawsuit filed against FTX and Elizabeth Holmes' sentencing.
FTX bankruptcy a 'disappointing setback' for cryptocurrency industry: Chen Arad
Solidus Labs co-founder Chen Arad joins 'Cavuto: Coast to Coast' to discuss the fallout from the FTX bankruptcy and its impact on the cryptocurrency industry.
Bill Clinton silent on Bahamas event with disgraced crypto boss Sam Bankman-Fried months before collapse
President Clinton has remained silent on his involvement in a paid retreat alongside disgraced crypto boss Sam Bankman-Fried just months before FTX's collapse.
Stuart Varney: Sam Bankman-Fried played the climate 'game' for money
FOX Business' Stuart Varney links Sam Bankman-Fried's FTX scandal and the COP27 climate change summit in Egypt, arguing they both play the climate 'game' for money.
FTX founder Sam Bankman-Fried was also prolific donor to Republicans: 'I have a duty'
FTX founder Sam Bankman-Fried sent a significant amount of money to Republican candidates ahead of the midterm election in addition to the millions of dollars he donated to Democrats.
FTX founder Sam Bankman-Fried lied to regulators ‘around the world’: Changpeng Zhao
Binance CEO Changpeng 'CZ' Zhao discusses the latest fallout from the FTX collapse and how that is expected to impact his company’s operation on ‘Varney & Co.’
Stuart Varney: Sam Bankman-Fried was exposed as a 'climate cynic'
'Varney & Co.' host Stuart Varney illustrates the similarities between the COP27 climate summit in Egypt and Sam Bankman-Fried's FTX scandal.
Josh Hawley fires warning shot to top Biden admin regulators over FTX collapse: 'Provide all correspondence'
Sen. Josh Hawley, R-Mo., a member of the Judiciary Committee, demanded relevant information and correspondence related to FTX from top Biden administration officials.
FTX's Sam Bankman-Fried transferring assets to Bahamas is for 'protection': Andrew Stoltmann
Criminal defense attorney Andrew Stoltmann says it's just a matter of time until FTX founder Sam Bankman-Fried is federally charged.
New FTX CEO highlights 'pervasive failures' in court filing
Troubled cryptocurrency firm FTX updated its bankruptcy filing in Delaware, and it's chock-full of new insights into chaotic business practices under former CEO Sam Bankman-Fried.
Steve Moore says cryptocurrency should remain unregulated despite FTX scandal
Former Trump economic adviser Steve Moore speaks on FTX's downfall and how the cryptocurrency giant was involved in politics on 'The Evening Edit.'
Crypto lender Genesis had sought emergency loan of $1 Billion
Crypto lender Genesis sought $1 billion in emergency loan to fend off a bank run, caused by FTX collapse, before suspending redemptions and loan issuance.
Documentary underway on FTX collapse; Oscar nominee directing for award-winning production company
An award-winning documentary company is tapping an Oscar-nominated director for an investigative nonfiction film on the fall on cryptocurrency exchange FTX.
Following FTX's fall, billionaire investor warns of crypto's risky 'Wild West' terrain
The Carlyle Group co-founder and author of 'How to Invest' David Rubenstein analyzes the cryptocurrency space following the catastrophic collapse of FTX.
House Republicans press Blinken on concerns of Ukraine aid being donated to Dems through FTX
Rep. Troy Nehls led a letter to Secretary of State Antony Blinken expressing his and his colleagues' concerns that Ukraine military aid may have been improperly invested in FTX.
Flashback: Bill Clinton hung with Bankman-Fried at $3K Bahamas shindig, called for 'do no harm' regulations
Before FTX went bankrupt, and CEO Sam Bankman-Fried lost his fortune, he moderated a panel with former President Bill Clinton calling for "do no harm" regulations on crypto.
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.