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FTX launches $2 billion venture fund, hires Lightspeed exec to lead

Sam Bankman-Fried’s FTX has launched a new venture capital unit, adding billions of dollars in fresh capital to the already bloated private market for crypto investing.  FTX — which has long made investments alongside its sister company Alameda — said in a press release that FTX Ventures aims to “advance global blockchain and web3 adoption, with a broad investment mandate across social, gaming, fintech, software, and healthcare.” FTX has set aside $2 billion for the venture fund. It has also …

A look into tokenised securities

January 11, 2022, 3:11PM EST • 10 min read Quick Take Tokenised securities first launched in December 2020 but are still struggling to gain traction with users. Mirror Protocol historically dominates the competition regarding user activity and trading volumes. The market for tokenised securities makes up a relatively small fraction of the equivalent equities markets. Join The Block Research for exclusive research like this Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and …

Here’s the big PR mistake CEOs are making, according to FTX’s SBF

Before FTX was facilitating in billions of dollars in trade volumes and its name was plastered on Miami Heat’s stadium, it was a scrappy upstart venue “coming from behind,” as founder Sam Bankman-Fried put it in a recent podcast with The Block.  A key component of how the firm moved up the crypto exchange leader board was taking a more authentic approach to marketing and public relations, Bankman-Fried noted. “Most of it sort of happens organically,” the billionaire said of …

Here’s what traders don’t get about crypto leverage, according to SBF

The cryptocurrency market is known for its volatility and the high amount of leverage offered to retail traders, but the highest leveraged trades actually have a very limited impact on the market, according to FTX’s Sam Bankman-Fried.  The volatile market, which has seen days in which hundreds of thousands of traders have faced liquidations in their futures position, is known for cascading events. During some market drops, liquidations of levered futures positions can exacerbate drawdowns, leading to further liquidations. On …

What made Sam Bankman-Fried launch FTX — and what he now thinks about the world (Part 2)

Episode 86 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and CEO Sam Bankman-Fried of FTX. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] This episode is brought to you by our sponsors Bakkt, Kraken and Kava Bakkt® unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming …

What made Sam Bankman-Fried launch FTX — and what he now thinks about the world (Part 1)

Episode 85 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and CEO Sam Bankman-Fried of FTX. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to [email protected] This episode is brought to you by our sponsors Bakkt, Kraken and Kava Bakkt® unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming assets and merchant stored value. We began in …

FTX US signs NFT deal with Golden State Warriors basketball team

The United States-based crypto exchange FTX US announced today that it has entered a deal with the Golden State Warriors professional basketball team. As part of the deal, the Warriors will create and launch non-fungible tokens (NFTs) and FTX US will be the main hub for the team’s digital asset launches.  The Warriors, which are based in San Francisco, intend to release NFTs FTX US’s NFT marketplace beginning in early 2022, according to a release. They will include digital collectibles of …

Ledger unveils crypto debit card, partners with FTX, Coinbase, Rarible

Hardware wallet maker Ledger made a slew of announcements at its inaugural — and now bi-annual — conference Ledger Op3n in Paris today. Key among them was the reveal of its new crypto debit card, released on the basis that, as Ledger VP of payments Iqbal Gandham put it, “we need to start focusing on spending.” According to the presentation, it’s a Visa card that’s issued by Baanx, an affiliate of Contis Financial Services.  Called the Crypto Life card, it …

What to expect at Wednesday’s hearing on crypto before Congress

Quick Take The House Financial Services Committee will hear testimony from executives from six major players in U.S. crypto tomorrow.  The Block takes a look at the significance of the hearing, as well as the committee’s priorities for crypto legislation.  This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.