BITCOIN

The CEO of Blackrock, the world’s largest asset manager, says that most crypto companies will not be around following the collapse of crypto exchange FTX. However, the executive is still optimistic about blockchain technology. Blackrock’s CEO on FTX’s Collapse and Future of Crypto Larry Fink, the CEO of Blackrock Inc. (NYSE: BLK), the world’s largest asset management firm, talked about cryptocurrency and the collapsed exchange FTX during an interview at the New York Times Dealbook Summit last week. Blackrock had $7.96 trillion in assets under management (AUM) as of the third quarter. The asset management firm invested $24 million in Sam Bankman-Fried (SBF)’s FTX through a billionaire fund it manages, the CEO explained. Regarding the FTX meltdown, Fink said: “We’re going to have to wait to see how this all plays out … I mean, right now we can make all the judgment calls and it looks like there were misbehaviors of major consequences.” The Blackrock chief executive believes that mos...

The host of Mad Money, Jim Cramer, says former FTX CEO Sam Bankman-Fried (SBF) is a pathological liar and a conman. “That guy is a clueless idiot. Intent means nothing. Saying sorry means nothing,” Cramer stressed. Jim Cramer on Sam Bankman-Fried and FTX Collapse The host of CNBC’s Mad Money show, Jim Cramer, shared his thoughts about the collapse of crypto exchange FTX and its co-founder and former CEO Sam Bankman-Fried (SBF) in a couple of interviews on CNBC Thursday. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website. Commenting on Bankman-Fried’s claim during an interview at the New York Times Dealbook Summit that he “didn’t try to commit fraud on anyone,” Cramer said: That guy is a clueless idiot. Intent means nothing. Saying sorry means nothing. If you commingle, if you had no record keeping, those are against the law. “You were sloppy, you didn’t keep records —illegal — alright, so if you’re admitting to illegality,...

During the last seven days, bitcoin’s price has remained above the $16K region following the aftermath of FTX’s collapse. Since then, a number of ‘sleeping bitcoins’ that sat idle for five to nine years have been moving during the last four days. Bitcoins that were worth far less back then are being transferred for the first time in years. $20M Worth of Old Bitcoins Move After Sitting Dormant for Years Bitcoin’s ( BTC ) price has remained steady during the last seven days, ranging between $16,150 to $16,995 per unit, and a brief jump over the $17K zone. Over the last four days, while BTC prices are much lower than they were at the start of November, hundreds of old bitcoins have been on the move. For instance, two owners spent 348 bitcoin on Nov. 29, 2022, and the stash was once worth $348,000 . We can’t really tell whether or not the transferred coins were sold, but they were spent from addresses created almost six years ago. Heuristics also indicate that out of the 348 bitcoin t...