Orlando Bravo — the head of one of the US’s biggest tech investment firms — apparently felt he had some explaining to do this week.
, the crypto exchange formerly headed by 30-year-old Sam Bankman-Fried — and held an unusual call with investors on Tuesday to own up to his mistake, sources told On The Money.estimating his net worth at $7.9 billion — admitted that he was “shocked” FTX went bankrupt on the call, a source close to the situation said.
“Some investors were in disbelief that a firm of Thoma Bravo’s sophistication could put millions to work in an investment where there wasn’t a board or even a CFO,” a source said.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TSM FTX drops FTXFTX had signed a huge sponsorship deal with TSM.
Read more »
The FTX contagion: Which companies were affected by the FTX collapse?Some of the firms affected include Genesis, Sequoia Capital, Galaxy Digital, and Galois Capital.
Read more »
The Fall of Crypto's Golden Boy - The Journal. - WSJ PodcastsUntil last week, FTX founder Sam Bankman-Fried was the face of crypto. Admirers saw him as an approachable, friendly billionaire eager to deploy his wealth for good. Then his crypto empire imploded, leaving hundreds of thousands of investors’ assets in doubt. WSJ’s Greg Zuckerman profiles the man behind FTX. Further Reading: -How FTX’s Sam Bankman-Fried Went From Crypto Golden Boy to Villain -FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall -Alameda, FTX Executives Are Said to Have Known FTX Was Using Customer Funds -FTX’s Collapse Leaves Employees Sick With Anger Further Listening: -How Crypto Giant FTX Suddenly Imploded
Read more »
Australia Suspends Financial Services License of Local FTX Entity – Exchanges Bitcoin NewsAustralia’s securities regulator has suspended the license of the Australian unit of the bankrupt crypto exchange FTX until mid-May.
Read more »
Tom Brady, Larry David, other celebrities named in FTX suitThe lawsuit alleges Hollywood and sports celebrities used to promote FTX and its products should be held just as culpable as the company’s founder.
Read more »
Binance to Relaunch Bid for Bankrupt Lender Voyager: SourceSCOOP: BinanceUS is said to be preparing a bid for bankrupt crypto lender Voyager, according to a source. By IanAllison123
Read more »