Allison Morrow

Sam Bankman-Fried’s multibillion-dollar crypto empire was run primarily by “grossly inexperienced and unsophisticated individuals” who failed to institute basic corporate controls and even relied on QuickBooks to do their accounting, according to investigators.

The stunning collapse of one of crypto’s most prominent firms has quickly morphed into a legal battle pitting former executives and ex-romantic partners against one another.

When Jane Fraser became CEO of Citigroup nearly two years ago, in the middle of the pandemic, she established the kind of flexible hybrid work culture that’s mostly unheard of among elite Wall Street bankers.

When Jane Fraser became CEO of Citigroup nearly two years ago, in the middle of the pandemic, she established the kind of flexible hybrid work culture that’s mostly unheard of among elite Wall Street bankers.

The new management of FTX is pressuring hundreds of politicians and political organizations to return millions of dollars donated by the crypto platform or its founders before it went bankrupt last year.

FTX founder Sam Bankman-Fried is set to appear in New York federal court Thursday for the second time this week as a judge weighs a proposal from prosecutors to tighten the conditions of his bail.

Crypto-focused lender Silvergate said it is winding down operations and will liquidate the bank after being financially pummeled by turmoil in digital assets.

Yesterday, the financial world witnessed a classic run on the bank when Silvergate Capital, the go-to US lender for crypto companies, said it would wind down its operations and voluntarily liquidate.

After a few days of panic over the health of America’s banking system, Wall Street appeared to take a deep breath Tuesday.

Credit Suisse, the giant, 167-year-old European bank, was teetering on the brink of failure Wednesday, stoking anxieties about the health of the global financial system. (And frankly giving markets reporters whiplash as sentiment went from “holy-crap-sell” on Monday, to “everyone chill” on Tuesday, and back to freakout mode by Wednesday...)