cryptocurrency exchanges, ftx, has begun bankruptcy proceedings in the united states. the firm has been struggling to deal with investors attempting to withdraw billions of dollars from its online platform. for more on this, we can speak to anita ramaswamy, who is a senior crypto reporter at techcrunch. can you just explain why this collapse of ftx has happened? absolutely. it is a complicated story, but the balance sheet was revealed essentially, and that report led to the ceo of a rival exchange, binance, which is the biggest crypto exchange in the world firing off a bunch of tweets that raised questions about ftx s solvency. overnight the company essentially went from a darling of the crypto industry which everyone thought was very stable, to being something which came under fire and under question because of the close ties that it had to its sister entity alameda research, and a lot of its value was locked up in its own
financial position, but there are still a lot of private companies in the space and transparency is really lacking, that is what is going to differentiate customers who are going to win over customer trust versus those who cannot, people who are providing the most information disclosure as possible. but even then it will be very hard for the public to regain their trust in crypto after a huge event like this. anita ramaswamy there. a senior reporterfrom a senior reporter from techcrunch with the latest on the ftx collapse. twitter has started removing fake accounts that have multiplied since elon musk s takeover, suspending sign ups for a new paid checkmark system and reinstating a grey official badge on some accounts. us regulators say they re concerned about staff upheavals at twitter, as top officers for privacy and compliance are among the latest executives to resign. the federal trade commission warned musk that he was not above the law. after more than 90 years of showcasing othe
just $3. not 3 billion, at $3. his fall from grace marks a perilous moment for the crypto world. other exchanges have failed before but nothing on this scale. ftx is reportedly under investigation by several financial authorities. but that will be of limited satisfaction to its thousands of customers who are anxiously waiting to know where their money has gone. tom brada, bbc news. so, what s gone wrong? techcrunch reporter anita ramaswamy explains the day s events. i mean, it s is a complicated story but the balance sheet was revealed, essentially, and that report led to the ceo of a rival exchange, binance which is the biggest crypto exchange in the world firing off a bunch of tweets that basically raised questions about ftx s solvency. overnight, the company essentially went from a darling of the crypto industry that everyone thought was very stable to being something
bloomberg is now estimating that s dropped to just 3. not $3 billion, but $3. his fall from grace marks a perilous moment for the crypto world. other exchanges have failed before, but nothing on this scale. ftx is reportedly under investigation by several financial authorities, but that will be of limited satisfaction to its thousands of customers who are anxiously waiting to know where their money has gone. tom brada, bbc news. for more on what s gone wrong at ftx, i ve been speaking to techcrunch reporter anita ramaswamy. i mean, it s is a complicated story but their balance sheet was revealed, essentially, and that report led to the ceo of a rival exchange, binance which is the biggest crypto exchange in the world firing off a bunch of tweets that basically raised questions about ftx s solvency. 0vernight, the company essentially went from a darling of the crypto industry,
who cannot people who are providing the most information disclosure as possible. but even then, it will be very hard for the public to regain their trust in crypto after a huge event like this. anita ramaswamy there. twitter has started removing fake accounts that have multiplied since elon musk s takeover, suspending sign ups for a new paid checkmark system and reinstating a grey official badge on some accounts. us regulators say they re concerned about staff upheavals at twitter as top officers for privacy and compliance are among the latest executives to resign. the federal trade commission warned musk that he was not above the law. after more than 90 years of showcasing other people s stories, britain s oldest amateur film making club is finally in the spotlight itself. a documentary about the bradford film makers work has made it to the big screen, and to rave reviews. 0ur arts correspondent david sillito went along to meet them. we are a group of keen amateurfilm makers. jau