National Handloom Day 2026: From Alia Bhatt to Samantha Ruth Prabhu; Actresses who celebrated India's textile heritage as brides

The Royals enter the Doctor Who universe: King Charles and Queen Camilla beam into Commonwealth Games in TARDIS

Unitree Robotics targets $9 billion valuation in landmark IPO backed by DeepSeek and Tencent

India names 27 sites in Arunachal Pradesh

Bharat Bhhagya Viddhaata OTT: When will Kangana Ranaut's film stream online?

How many soldiers operate one S-400 battery?

Shakib Al Hasan ready to return to Bangladesh—under one condition

‘Fake news’: MEA rejects report claiming India sought defence pact with Israel after Pakistan, Saudi Arabia, Turkey deal

Rockstar to unveil GTA 6 extended look ahead of November launch

Russia forms Ukrainian Volunteer Spetsnaz Brigade to fight Ukraine

Drug-resistant fungus that hides in hair and enters bloodstream reported in 23 US states

Technology transfer deal boosts India's defence manufacturing ambitions

Border row erupts in Europe after Ceuta crossings, Spain imposes border controls on Italy

Morale plummets on USS Abraham Lincoln: Are US sailors reaching a breaking point? | GRAVITAS

'Security can't be bought with Pakistan, Turkey deal': Iran tells Saudi Arabia

Baba Vanga's 2026 prophecy: 2 predictions 'already came true', 3 terrifying ones remain. Details inside

Colombia’s new president Abelardo de la Espriella vows to ‘defeat narco-terrorists’, signals hardline shift

New Friday OTT releases (August 7, 2026): Operation Safed Sagar, Vadhandhi, Main Vaapis Aaunga- 6 movies and TV shows on Netflix, Prime Video and more

Squadron Leader Bhawana Kanth scripts history as Indian Air Force gets its first woman ‘Top Gun’ pilot

RSS says Gen Z protests reflect genuine distress

Trump says Iranian school bombing photos could be AI-generated - 'I don’t think...'

IAF officer held for sharing sensitive information in 'honey trap' case, booked under Official Secrets Act

Stray Kids under scrutiny? Fans react to Grammy submission silence after BTS boycott

Why the Su-30MKI doesn't need external fuel tanks to fly vast distances

Jugal Hansraj reunites with Shekhar Kapur after 40 years for Masoom: The Next Generation

New speed limits, automatic challans: Big traffic change coming to Delhi-Meerut Expressway. All you need to know

India officially names 27 places in Arunachal to counter China's renaming claims

Trump calls White House ballroom ruling a 'national disgrace' as court says Congress approval needed

US sanctions Iran’s crypto network after Strait of Hormuz attacks, offers $15m bounty for intel on IRGC finance

Why the Su-30MKI is one of the heaviest fighters ever built

Uttarakhand young innovator builds India's own flying vehicle, conducts first test flight: WATCH

Chilling video shows students take cover as teen opens fire at Thai school

Reese Witherspoon's father hospitalised after poolside incident in Nashville: Report

The collapsed-crypto exchange FTX in its bankruptcy filing indicated a "severe liquidity crisis," claiming that it may have more than 1 million creditors.

"FTX faced a severe liquidity crisis that necessitated the filing of these cases on an emergency basis last Friday," said the court filing, as per Reuters.

Watch&nbsp;| <a href="https://www.wionews.com/videos/wion-business-news-ftxs-sam-bankman-fried-questioned-by-bahamas-police-533929" target="_blank">WION Business News | FTX's Sam Bankman-Fried questioned by Bahamas Police</a>

<iframe allowfullscreen="" autoplay="1" frameborder="0" height="350" src="https://www.wionews.com/videos/wion-business-news-ftxs-sam-bankman-fried-questioned-by-bahamas-police-533929/embed" width="560"></iframe>

According to FTX's submissions to the US bankruptcy court which were published on Monday, the company has appointed five new independent directors at each of its major companies, including Alameda Research, and is in contact with financial regulators.

The company which was among the world's largest crypto exchanges&nbsp;filed for bankruptcy on Friday after a rescue deal by Binance, its rival, fell through and panicked traders took out $6 billion for it.

Also read |&nbsp;<a href="https://www.wionews.com/world/usa-sec-cftc-and-doj-launch-investigation-into-ftxs-collapse-534284">USA: SEC, CFTC and DoJ launch investigation into FTX's collapse</a>

More than 100,000 creditors are involved in FTX's bankruptcy procedures, and that number might rise beyond one million, the filing said.&nbsp;

The figure came to light after FTX asked several FTX Group companies to submit a single, consolidated list of important debtors rather than several individual lists.

Also read |&nbsp;<a href="https://www.wionews.com/world/ftx-says-making-every-effort-to-secure-all-assets-following-reports-of-unauthorised-transfers-worth-millions-533674">FTX says making ‘every effort to secure all assets’ after unauthorised transfers worth millions</a>

Furthermore, the documents showed that FTX had responded to a cyber attack on November 11 after claiming on Saturday that it had discovered "unauthorised transactions" on its platform.&nbsp;

The sudden demise of FTX, a rising star in the cryptocurrency market that was valued at $32 billion at the beginning of this year has, spurred inquiries from financial and other regulators all over the world. The US Federal Reserve and Congress urged for more regulatory scrutiny of cryptocurrency finance on Monday.

(With inputs from agencies)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

The collapsed-crypto exchange FTX in its bankruptcy filing indicated a "severe liquidity crisis," claiming that it may have more than 1 million creditors. "FTX faced a severe liquidity crisis that necessitated the filing of these cases on an emergency basis last Friday," said the court filing, as per Reuters.

The collapsed-crypto exchange FTX in its bankruptcy filing indicated a "severe liquidity crisis," claiming that it may have more than 1 million creditors. "FTX faced a severe liquidity crisis that necessitated the filing of these cases on an emergency basis last Friday," said the court filing, as per Reuters. Watch | WION Business News | FTX's Sam Bankman-Fried questioned by Bahamas Police According to FTX's submissions to the US bankruptcy court which were published on Monday, the company has appointed five new independent directors at each of its major companies, including Alameda Research, and is in contact with financial regulators. The company which was among the world's largest crypto exchanges filed for bankruptcy on Friday after a rescue deal by Binance, its rival, fell through and panicked traders took out $6 billion for it. Also read | USA: SEC, CFTC and DoJ launch investigation into FTX's collapse More than 100,000 creditors are involved in FTX's bankruptcy procedures, and that number might rise beyond one million, the filing said. The figure came to light after FTX asked several FTX Group companies to submit a single, consolidated list of important debtors rather than several individual lists. Also read | FTX says making ‘every effort to secure all assets’ after unauthorised transfers worth millions Furthermore, the documents showed that FTX had responded to a cyber attack on November 11 after claiming on Saturday that it had discovered "unauthorised transactions" on its platform. The sudden demise of FTX, a rising star in the cryptocurrency market that was valued at $32 billion at the beginning of this year has, spurred inquiries from financial and other regulators all over the world. The US Federal Reserve and Congress urged for more regulatory scrutiny of cryptocurrency finance on Monday. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

FTX bankruptcy filing claims 'severe liquidity crisis', more than 100,000 creditors

FTX collapsed last week and the crypto-trading platform has filed for bankruptcy. But, the problems for FTX are far from over and there are concerns over a possible domino effect over the sector.

World Business Watch: US authorities probe FTX collapse; concerns over possible domino effect

In Hong Kong, the slowing property market, rising interest rates and pandemic effects, have hit luxury housing market. The number of luxury home sales transactions is expected to hit a nine-year low in 2022.

World Business Watch: Hong Kong luxury home sales to hit a 9-yr low

Japan's economy has unexpectedly shrank in the third quarter. The impact of high inflation, weak yen, and the soaring price of commodities have weighed on the country.

World Business Watch: High inflation, weakening Yen slows down Japan's economy

Market research firm International Data Corporation said, just before the start of the annual festive season, smartphone market in India declined by 10% to hit a three-year low of 43mn shipment in the July-September 2022 period.

World Business Watch: Indian smartphone market at three-year low

In a sign that world's second-largest economy is losing momentum, China's factory output grew more slowly than expected and retail sales unexpectedly dropped in October as it struggles with protracted covid-19 curbs and a property downturn.

World Business Watch: China's factory output, retail miss forecasts

There seems to be a race between Amazon boss Jeff Bezos and his former wife MacKenzie Scott, it is to give wealth to charity. Scott said she donated $2bn to charity over the past seven months and Bezos to give away a majority of his fortunes.

World Business Watch: MacKenzie Scott donates $2 bn to charity

Google will pay $391.5 million to settle allegations by 40 states that the search and advertising giant illegally tracked users' locations.

World Business Watch: Google to settle US location-tracking probe

Italy has banned facial recognition and 'smart glasses' as its Data Protection Agency issued a rebuke to two municipalities experimenting with the technologies.

World Business Watch: Italy outlaws facial recognition tech using biometric data

New analysis shows that Paris has overtaken London to become Europe's biggest stock market.&nbsp;As per a Bloomberg report amid recession jitters in Britain, the French market has gained a marginal edge on the London stock market.

Five years back when Britain voted to leave the European Union its stocks were worth $1.5 trillion more than France's now it is a little behind. Paris now has a combined value of $2.823 trillion while the UK market is worth $2.821 trillion altogether.

Watch |&nbsp;London loses EU's stock market crown to Paris

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/london-loses-eus-stock-market-crown-to-paris-534347/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Plummeting pound, Brexit and France's high-end shares have also contributed to the change.&nbsp;

Speaking to Bloomberg, Michal Saunders, a policymaker at the Bank of England said that Brexit has "permanently damaged' the UK economy by reducing the country's potential output, which has led to a plunge in investments to businesses.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/stocks-pound-up-as-sunak-to-become-new-british-pm-528020">Stocks, pound up as Sunak to become new British PM</a>

The major victims of this economic downturn have been small ad consumer-focused firms, who have also taken the hit from the energy crisis, inflation and market volatility.

Dropping 13 per cent in value against the US Dollar, Pound this year has taken a major hammering. In comparison, Euro has only seen a 9.2 per cent fall.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/global-debt-grew-considerably-in-2021-warns-world-bank-president-report-533752" hreflang="en">Global debt grew considerably in 2021, China leading lender: World Bank president</a>

In September, as per Reuters, consumer price inflation in Britain saw a 40- year high of 10.1 per cent, this figure is only expected to rise as last month also saw regulated energy prices jump in spite of the subsidies.

As per an AFP report in spite of the ongoing recession and the cost-of-living crisis, Britain will hike taxes and slash public spending in its government budget which will be unveiled on Thursday (November 17). This is meant to signal "a return to austerity".

(With inputs from agencies)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

New analysis shows that Paris has overtaken London to become Europe's biggest stock market. As per a Bloomberg report amid recession jitters in Britain, the French market has gained a marginal edge on the London stock market.

New analysis shows that Paris has overtaken London to become Europe's biggest stock market. As per a Bloomberg report amid recession jitters in Britain, the French market has gained a marginal edge on the London stock market. Five years back when Britain voted to leave the European Union its stocks were worth $1.5 trillion more than France's now it is a little behind. Paris now has a combined value of $2.823 trillion while the UK market is worth $2.821 trillion altogether. Watch | London loses EU's stock market crown to Paris Plummeting pound, Brexit and France's high-end shares have also contributed to the change. Speaking to Bloomberg, Michal Saunders, a policymaker at the Bank of England said that Brexit has "permanently damaged' the UK economy by reducing the country's potential output, which has led to a plunge in investments to businesses. Also read | Stocks, pound up as Sunak to become new British PM The major victims of this economic downturn have been small ad consumer-focused firms, who have also taken the hit from the energy crisis, inflation and market volatility. Dropping 13 per cent in value against the US Dollar, Pound this year has taken a major hammering. In comparison, Euro has only seen a 9.2 per cent fall. Also read | Global debt grew considerably in 2021, China leading lender: World Bank president In September, as per Reuters, consumer price inflation in Britain saw a 40- year high of 10.1 per cent, this figure is only expected to rise as last month also saw regulated energy prices jump in spite of the subsidies. As per an AFP report in spite of the ongoing recession and the cost-of-living crisis, Britain will hike taxes and slash public spending in its government budget which will be unveiled on Thursday (November 17). This is meant to signal "a return to austerity". (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Britain is no longer Europe's biggest stock market; Paris takes the crown

Amid the ongoing economic hardships in the UK, London has lost EU's stock market crown to Paris. UK economy shrank by 0.2% in the third quarter.

London loses EU's stock market crown to Paris

The International Monetary Fund said on Sunday that the global economic outlook is even gloomier than projected last month. It cited a steady worsening in purchasing manager surveys in recent months

WION Business News | Global economic outlook getting `gloomier`, says IMF

Amid growing tensions between Washington and Beijing, BlackRock, the world’s largest asset manager, has put off the launch of an exchange-traded fund that invests in Chinese bonds.

WION Business News | BlackRock delays China bond ETF launch

As per reports, Bahamian police questioned FTX founder Sam Bankman-Fried on Saturday

WION Business News | FTX's Sam Bankman-Fried questioned by Bahamas Police

After firing thousands of Twitter employees in the first week of taking over platform. Reports suggest, the employees were removed without any prior notice. A lot of employees said their access were removed without any prior information

WION Business News | Elon Musk removes Twitter contract workers without notice

In 2021, the amount of debt among the low- and middle-income countries “grew substantially”, said World Bank President David Malpass during an interview with Reuters on Friday. This comes ahead of the bank’s upcoming yearly report on global debt which Malpass says will make clear that private sector creditors also need to participate in debt reductions.&nbsp;

According to the World Bank president, China accounts for nearly 66 per cent of lending in the total for the official bilateral creditors. This also makes Beijing the world’s biggest official bilateral creditor. Meanwhile, he also talked about how the implementation of the common framework created by the G20 economies as well as the Paris Club of official creditors in late 2020 for debt treatments has been halted.&nbsp;

In this context, he gave the example of the African nation, Chad, whose bilateral creditors are countries like China, France, India and Saudi Arabia and also private creditors like Switzerland-based Glencore which reportedly reached an agreement on the country’s nearly $3 billion in external debt. However, Malpass says that it does not account for longer-term debt sustainability as it forgoes any actual debt reduction.&nbsp;

ALSO READ:<a href="https://www.wionews.com/india-news/indias-support-to-poor-during-covid-19-remarkable-says-world-bank-president-david-malpass-522939">&nbsp;India’s support to poor during COVID-19 remarkable, says World Bank President David Malpass</a> 
 
He also said that the World Bank, the International Monetary Fund (IMF) and Western officials have repeatedly criticised China as well as private sector lenders for not moving forward with their plan at a faster pace. Therefore, the World Bank president said that the overall debt issue will be one of the highlights of the upcoming meeting of the G20 leaders.&nbsp;

Malpass also called for an increased pace of debt restructuring for both Chad and Zambia with the latter being the first to make the request under the new common framework. He added that the longer the process of enacting real debt reductions is, it will become increasingly difficult for these countries to “get back on their feet.”&nbsp;

ALSO WATCH:&nbsp;<a href="https://www.wionews.com/videos/wion-climate-tracker-united-states-protests-against-world-bank-investing-in-fossil-fuels-525204">WION Climate Tracker | United States: Protests against World Bank investing in fossil fuels</a>

This comes as Malpass warns about the bank's forthcoming International Debt Statistics report, which he reportedly said was troubling but did not give any specific numbers or statistics on the same. &nbsp;

But the preliminary data released by the World Bank in June hints at the worsening situation as it showed that the external debt stock of low- and middle-income countries on average rose 6.9 per cent in 2021 to $9.3 trillion which is a 1.3 per cent growth witnessed since 2020. “The report makes clear that debt reduction needs to extend broadly to include the private sector and China,” said Malpass.&nbsp;

ALSO READ:&nbsp;<a href="https://www.wionews.com/world/cop27-barbados-pm-calls-to-reform-imf-and-world-bank-finds-support-from-us-france-533033">COP27: Barbados PM calls to reform IMF and World Bank, finds support from US, France</a>

Furthermore, the officials at World Bank and IMF have also said that at least 25 per cent of emerging markets and developing economies are in or near debt stress, while the number for low- and middle-income countries is at a staggering 60 per cent. This comes amid climate shocks, inflation, rise in interest rates which increased the pressure on countries still reeling from the Covid-19 pandemic.&nbsp;

&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

In 2021, the amount of debt among the low- and middle-income countries “grew substantially”, said World Bank President David Malpass during an interview with Reuters on Friday.

In 2021, the amount of debt among the low- and middle-income countries “grew substantially”, said World Bank President David Malpass during an interview with Reuters on Friday. This comes ahead of the bank’s upcoming yearly report on global debt which Malpass says will make clear that private sector creditors also need to participate in debt reductions. According to the World Bank president, China accounts for nearly 66 per cent of lending in the total for the official bilateral creditors. This also makes Beijing the world’s biggest official bilateral creditor. Meanwhile, he also talked about how the implementation of the common framework created by the G20 economies as well as the Paris Club of official creditors in late 2020 for debt treatments has been halted. In this context, he gave the example of the African nation, Chad, whose bilateral creditors are countries like China, France, India and Saudi Arabia and also private creditors like Switzerland-based Glencore which reportedly reached an agreement on the country’s nearly $3 billion in external debt. However, Malpass says that it does not account for longer-term debt sustainability as it forgoes any actual debt reduction. ALSO READ: India’s support to poor during COVID-19 remarkable, says World Bank President David Malpass He also said that the World Bank, the International Monetary Fund (IMF) and Western officials have repeatedly criticised China as well as private sector lenders for not moving forward with their plan at a faster pace. Therefore, the World Bank president said that the overall debt issue will be one of the highlights of the upcoming meeting of the G20 leaders. Malpass also called for an increased pace of debt restructuring for both Chad and Zambia with the latter being the first to make the request under the new common framework. He added that the longer the process of enacting real debt reductions is, it will become increasingly difficult for these countries to “get back on their feet.” ALSO WATCH: WION Climate Tracker | United States: Protests against World Bank investing in fossil fuels This comes as Malpass warns about the bank's forthcoming International Debt Statistics report, which he reportedly said was troubling but did not give any specific numbers or statistics on the same. But the preliminary data released by the World Bank in June hints at the worsening situation as it showed that the external debt stock of low- and middle-income countries on average rose 6.9 per cent in 2021 to $9.3 trillion which is a 1.3 per cent growth witnessed since 2020. “The report makes clear that debt reduction needs to extend broadly to include the private sector and China,” said Malpass. ALSO READ: COP27: Barbados PM calls to reform IMF and World Bank, finds support from US, France Furthermore, the officials at World Bank and IMF have also said that at least 25 per cent of emerging markets and developing economies are in or near debt stress, while the number for low- and middle-income countries is at a staggering 60 per cent. This comes amid climate shocks, inflation, rise in interest rates which increased the pressure on countries still reeling from the Covid-19 pandemic. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Global debt grew considerably in 2021, China leading lender: World Bank president

Changpeng Zhao, the chief executive of cryptocurrency exchange Binance, announced on Sunday that the company no longer accepts deposits of FTX's FTT token on its platform and urged other competing exchanges to follow suit.&nbsp;

The crypto exchange FTX, which declared bankruptcy on Friday, stated it had discovered the unauthorised access on Saturday. Analysts also claimed that hundreds of millions of dollars worth of assets had been removed from the network under "suspicious circumstances."&nbsp;

"(Binance) has stopped FTT deposits, to prevent the potential of questionable additional supplies affecting the market. We will monitor the situation," said CEO Zhao in a&nbsp;tweet.

CEO tweeted, "FTT contract deployers moved all remaining FTT supply worth $400 million, which should be unlocked in batches. Not too sure what's going on."

In one of the most high-profile cryptocurrency meltdowns, FTX filed for bankruptcy on Friday after traders rushed to remove $6 billion off the platform in only 72 hours and rival exchange Binance abandoned a planned rescue package.

John J. Ray III, the chief executive of FTX, stated on Saturday that the business was collaborating with law enforcement and authorities to address the issue and was "making every effort to secure all assets, wherever located."&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/biden-urges-japan-s-korea-to-join-hands-on-n-korean-and-chinese-threat-533744">Biden urges Japan &amp; S Korea to join hands on N Korean and Chinese threat</a>

Sam Bankman-Fried, the exchange's 30-year-old founder, who is well known for wearing shorts and a T-shirt, has gone from being the face of the cryptocurrency industry's accomplishments to the main character of the sector's worst crash as a result of the exchange's rapid fall from grace.&nbsp;

Bankman-Fried, a resident of the Bahamas, has also come under scrutiny regarding his movements. On Twitter, he shot down allegations that he had travelled to South America.

(with inputs from agencies) 
&nbsp;

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe>

Changpeng Zhao, the chief executive of cryptocurrency exchange Binance, announced on Sunday that the company no longer accepts deposits of FTX's FTT token on its platform and urged other competing exchanges to follow suit.

Changpeng Zhao, the chief executive of cryptocurrency exchange Binance, announced on Sunday that the company no longer accepts deposits of FTX's FTT token on its platform and urged other competing exchanges to follow suit. The crypto exchange FTX, which declared bankruptcy on Friday, stated it had discovered the unauthorised access on Saturday. Analysts also claimed that hundreds of millions of dollars worth of assets had been removed from the network under "suspicious circumstances." "(Binance) has stopped FTT deposits, to prevent the potential of questionable additional supplies affecting the market. We will monitor the situation," said CEO Zhao in a tweet. CEO tweeted, "FTT contract deployers moved all remaining FTT supply worth $400 million, which should be unlocked in batches. Not too sure what's going on." In one of the most high-profile cryptocurrency meltdowns, FTX filed for bankruptcy on Friday after traders rushed to remove $6 billion off the platform in only 72 hours and rival exchange Binance abandoned a planned rescue package. John J. Ray III, the chief executive of FTX, stated on Saturday that the business was collaborating with law enforcement and authorities to address the issue and was "making every effort to secure all assets, wherever located." Also Read: Biden urges Japan & S Korea to join hands on N Korean and Chinese threat Sam Bankman-Fried, the exchange's 30-year-old founder, who is well known for wearing shorts and a T-shirt, has gone from being the face of the cryptocurrency industry's accomplishments to the main character of the sector's worst crash as a result of the exchange's rapid fall from grace. Bankman-Fried, a resident of the Bahamas, has also come under scrutiny regarding his movements. On Twitter, he shot down allegations that he had travelled to South America. (with inputs from agencies)

Binance halts FTX's FTT token deposits, urges other crypto exchanges to follow

Bankrupt Crypto trading fund FTX confirmed that there was an 'unauthorised access' to its accounts. Moments later, the embattled company's CEO announced that FTX is now switching off the option of trading or withdrawing funds, exactly how much money is involved still remains unclear.

FTX saga continues: Funds vanish at bankrupt Crypto exchange, company confirms 'unauthorised access'

There is simply no end to the woes of Bitcoin exchange FTX and more skeletons are coming out of the closet now. Meanwhile, some experts are calling the crashing of the crypto exchange, the beginning of a financial crisis moment of 2008 for digital assets globally.

Crypto exchange FTX files for bankruptcy; CEO Sam Bankman-Fried resigns

Amazon, the world's largest online retailer, has become first company ever to lose USD 1 trillion in market value, according to Bloomberg. It is akin to losing Google parent Alphabet's worth of market value. Alphabet is now valued around USD 1.13 trillion.

On Wednesday (November 9), Amazon's share price closed 4.3 per cent lower at USD 86.14. This took the company's market capitalisation to USD 879 billion.

This year up to now, Amazon's stock has already lost about 48 per cent of its value. This is quite a contrast from its price in July 2021. At that time, the company's market cap had touched USD 1.9 trillion.

The company's market value fell below USD 1 trillion mark at the start of this month.

Top five US tech companies are bleeding money. Together, they have already lost about USD 4 trillion in market value. Rising inflation and macroeconomic reasons are being reported to be the cause.

Also Read | <a href="https://www.wionews.com/business-economy/binance-walks-out-of-deal-to-bail-out-rival-ftx-citing-mishandled-funds-532777">Crypto market crashes as Binance walks out of FTX deal, amid US govt probe</a>

"We are seeing signs all around that, again, people's budgets are tight, inflation is still high, energy costs are an additional layer on top of that caused by other issues," Amazon CFO Brian Olsavsky told the reporters in a call on October 27, as per Reuters. "We are preparing for what could be a slower growth period, like most companies."

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

WATCH WION LIVE HERE

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

Amazon, the world's largest online retailer, has become first company ever to lose USD 1 trillion in market value, according to Bloomberg. It is akin to losing Google parent Alphabet's worth of market value.

Amazon, the world's largest online retailer, has become first company ever to lose USD 1 trillion in market value, according to Bloomberg. It is akin to losing Google parent Alphabet's worth of market value. Alphabet is now valued around USD 1.13 trillion. On Wednesday (November 9), Amazon's share price closed 4.3 per cent lower at USD 86.14. This took the company's market capitalisation to USD 879 billion. This year up to now, Amazon's stock has already lost about 48 per cent of its value. This is quite a contrast from its price in July 2021. At that time, the company's market cap had touched USD 1.9 trillion. The company's market value fell below USD 1 trillion mark at the start of this month. Top five US tech companies are bleeding money. Together, they have already lost about USD 4 trillion in market value. Rising inflation and macroeconomic reasons are being reported to be the cause. Also Read | Crypto market crashes as Binance walks out of FTX deal, amid US govt probe "We are seeing signs all around that, again, people's budgets are tight, inflation is still high, energy costs are an additional layer on top of that caused by other issues," Amazon CFO Brian Olsavsky told the reporters in a call on October 27, as per Reuters. "We are preparing for what could be a slower growth period, like most companies." You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Amazon loses USD 1 trillion, first company to shed such value

Is the UK heading for a long recession? UK economy has contracted in the third quarter. Will winter strikes also affect the UK economy? Watch this report.

UK economy contracts in the third quarter; UK heads for a long recession

Australia: Three telecom firms have been ordered by the court to pay a collective of $22 million as it is allegedly making misleading claims about the speed of the internet.

World Business Watch: Australian telecom firms fined $22.1 mn

Crypto exchange coinbase Global has cut over 60 jobs in recruiting and other onboarding teams. It is coming at a time when plummet digital coins risks another contagion in the sector and bigger rival FTX is inching closer to collapse.

World Business Watch: Crypto exchange coinbase cuts jobs

US tech billionaires just have their best day ever on Thursday, when they added $59 billion to their fortunes following Thursday's stock market rally at Wall Street.

Best day on record for U.S. tech billionaires; Asia stocks jump on U.S. inflation numbers

Major cryptocurrency platform Binance has announced that it is walking out of a non-binding deal to purchase failing rival FTX Trading, which has been hit by a liquidity crunch.

The fallout had an adverse impact on cryptocurrencies as bitcoin dropped below $16,000, while shares in cryptocurrency exchange Coinbase fell by more than 9.5 per cent.

In a statement posted on Twitter, Binance said that the issues facing FTX were "beyond our control or ability to help"

"Every time a major player in an industry fails, retail consumers will suffer. We have seen over the last several years that the crypto ecosystem is becoming more resilient and we believe in time that outliers that misuse user funds will be weeded out by the free market."

It said that the decision of not to move forward with the deal was made after due diligence.

The exchange said that its decision was taken after reports of FTX "mishandling customer funds and alleged US agency investigations".

"As regulatory frameworks are developed and as the industry continues to evolve toward greater decentralisation, the ecosystem will grow stronger,” it added.

Watch |&nbsp;Binance walks away from FTX deal due to 'mishandled funds'

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/binance-walks-away-from-ftx-deal-due-to-mishandled-funds-532770/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

FTX's founder Sam Bankman-Fried and Binance's chief executive Changpeng "CZ" Zhao are regarded as the two of the most powerful people in the cryptocurrency market and high-profile rivals.

Though there was no official reaction from FTX, Mr Zhao&nbsp;tweeted on Wednesday: "Sad day. Tried, but [crying emoji]".

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
In the spirit of transparency, might as well share the actual note, sent to all Binance team globally a few hours ago.<a href="https://t.co/IUNkPcLC8T">https://t.co/IUNkPcLC8T</a> <a href="https://t.co/XGlIJB7EV5">pic.twitter.com/XGlIJB7EV5</a>
— CZ 🔶 Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1590351182513729544?ref_src=twsrc%5Etfw">November 9, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;A notice on its website said, "FTX is currently unable to process withdrawals. We strongly advise against depositing."

Meanwhile, the US securities regulator is investigating FTX's handling of customer funds amid a liquidity crunch, as well its crypto-lending activities, Reuters reported on Wednesday citing a source familiar with the matter.

The Securities and Exchange Commission (SEC) is examining whether the platform is following securities laws related to segregation of customer assets and trading against customers, the source said. The investigation was initiated few months ago.

The Commodity Futures Trading Commission (CFTC) is also probing the issue, Bloomberg reported earlier on Wednesday.

(With inputs from agencies)

WATCH WION LIVE HERE: 

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Major cryptocurrency platform Binance has announced that it is walking out of a non-binding deal to purchase failing rival FTX Trading, which has been hit by a liquidity crunch.

Major cryptocurrency platform Binance has announced that it is walking out of a non-binding deal to purchase failing rival FTX Trading, which has been hit by a liquidity crunch. The fallout had an adverse impact on cryptocurrencies as bitcoin dropped below $16,000, while shares in cryptocurrency exchange Coinbase fell by more than 9.5 per cent. In a statement posted on Twitter, Binance said that the issues facing FTX were "beyond our control or ability to help" "Every time a major player in an industry fails, retail consumers will suffer. We have seen over the last several years that the crypto ecosystem is becoming more resilient and we believe in time that outliers that misuse user funds will be weeded out by the free market." It said that the decision of not to move forward with the deal was made after due diligence. The exchange said that its decision was taken after reports of FTX "mishandling customer funds and alleged US agency investigations". "As regulatory frameworks are developed and as the industry continues to evolve toward greater decentralisation, the ecosystem will grow stronger,” it added. Watch | Binance walks away from FTX deal due to 'mishandled funds' FTX's founder Sam Bankman-Fried and Binance's chief executive Changpeng "CZ" Zhao are regarded as the two of the most powerful people in the cryptocurrency market and high-profile rivals. Though there was no official reaction from FTX, Mr Zhao tweeted on Wednesday: "Sad day. Tried, but [crying emoji]". In the spirit of transparency, might as well share the actual note, sent to all Binance team globally a few hours ago.https://t.co/IUNkPcLC8T pic.twitter.com/XGlIJB7EV5 — CZ 🔶 Binance (@cz_binance) November 9, 2022 × A notice on its website said, "FTX is currently unable to process withdrawals. We strongly advise against depositing." Meanwhile, the US securities regulator is investigating FTX's handling of customer funds amid a liquidity crunch, as well its crypto-lending activities, Reuters reported on Wednesday citing a source familiar with the matter. The Securities and Exchange Commission (SEC) is examining whether the platform is following securities laws related to segregation of customer assets and trading against customers, the source said. The investigation was initiated few months ago. The Commodity Futures Trading Commission (CFTC) is also probing the issue, Bloomberg reported earlier on Wednesday. (With inputs from agencies) WATCH WION LIVE HERE:

Crypto market crashes as Binance walks out of FTX deal, amid US govt probe

After buying the microblogging site, Twitter, in a $44 billion deal, billionaire Elon Musk has sold additional shares of his company Tesla. According to the Securities and Exchange Commission in the United States, Musk sold 19.5 million shares of Tesla worth 4 billion dollars after taking over Twitter.

WION Business News: Musk sells $4 bn Tesla shares as it hits 2-year low