Crypto news: As the fallout from the FTX collapse continues and the clichés spread like wildfire, we pick through the rubble and brief you on the stories you may have missed.
If there was a word of the week this week, it would be contagion. Although not this time linked to COVID-19, but rather the unraveling of the knotty issue of FTX and Alameda Research.
The first to emerge from the ashes were sports stars Tom Brady, Steph Curry and Naomi Osaka. The trio became global ambassadors for FTX last year. Unfortunately for Super Bowl-winner Brady and his wife, supermodel Gisele Bündchen, the deal involved them taking an equity stake in the firm. While the amount they received wasn’t reported, the investment that cost them nothing is also now worth nothing.
Venture capital firm Sequoia Capital announced a loss of its $213.5 million investment in the exchange. In a letter sent to its partners, it stated that it was marking down…
