FTX Debtors Reveal $6.8 Billion Hole in Balance Sheet Amidst Financial Discrepancies and Payments to Insiders

FTX Debtors Reveal $6.8 Billion Hole in Balance Sheet Amidst Financial Discrepancies and Payments to InsidersAccording to a presentation recently submitted by the FTX debtors on March 16, Sam Bankman-Fried’s companies had a $6.8 billion hole in their intercompany balance sheet when they filed for Chapter 11 bankruptcy protection. FTX and its conglomerate of firms have debts of around $11.6 billion, including customer claims and various other liabilities. FTX’s $6.8 […]

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Report Claims Visa and Mastercard Plan to Pause New Partnerships, Visa’s Head of Crypto Insists ‘Story Is Inaccurate’

Report Claims Visa and Mastercard Plan to Pause New Partnerships, Visa's Head of Crypto Insists 'Story Is Inaccurate'According to a recent report from sources familiar with the matter, Mastercard and Visa, the credit card and payment services giants, are halting new partnerships with cryptocurrency firms. This news comes after the collapse of several cryptocurrency ventures that offered crypto debit cards and failed due to financial difficulties last year. After the report published, […]

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New American Express Credit Card Lets Shoppers Earn Crypto Rewards Tradable Across 100+ Cryptocurrencies

New American Express Card Lets Shoppers Earn Crypto Rewards Tradable Across 100+ CryptocurrenciesAmerican Express and Abra are launching a new credit card that will allow shoppers to earn cryptocurrency rewards “tradable across over 100 different cryptocurrencies” without annual or foreign transaction fees. American Express and Abra Launching Crypto Rewards Credit Card American Express (Amex) and crypto trading platform and wallet provider Abra announced the upcoming launch of […]

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American Express Sees Crypto as Asset Class — Says It’s Not a Near-Term Business Threat

American Express CEO Sees Crypto as Asset Class — Dismisses Crypto as Near-Term Business ThreatAmerican Express (Amex) sees cryptocurrency as an asset class, according to CEO Steve Squeri. He added that right now, the firm does not see crypto as an immediate or medium-term threat to its business. American Express CEO Discusses Crypto Strategy The chairman and CEO of American Express (Amex), Steve Squeri, answered some questions regarding cryptocurrency […]

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