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Sam Bankman-Fried launches Substack: ‘I didn’t steal funds, and I certainly didn’t stash billions away’

TechCrunch

In a post titled “FTX Pre-Mortem Overview,” Bankman-Fried maintains his innocence surrounding the collapse and bankruptcy of FTX, a cryptocurrency exchange he founded in 2019 that went on to raise $2 billion in funding and achieve a valuation of a staggering $32 billion. His trial date has been set for October 2, 2023. Last month, a U.S.

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Former NBA star Rick Fox’s startup gets $10M pre-seed for concrete that removes CO2

TechCrunch

The Bahamas, where he grew up and now lives, wasn’t just in the midst of a pandemic. It got me to a point of thinking about a bigger crisis, which was one that we were facing at home in the Bahamas, which is the consistent impact of the climate and the storms that were happening on a yearly basis at a different level than what I grew up with.”

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Coral Vita cultivates $2M seed to take its reef restoration mission global

TechCrunch

At the time, the operation was both smaller and under siege by Hurricane Dorian, which wiped out the team’s coral farm in the Bahamas — and then, of course, the pandemic arrived just in time to spoil the team’s 2020 plans along with everyone else’s. In the Accelerator over the Sea. Image Credits: Coral Vita.

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SBF claims massive ignorance on obvious conflicts in FTX downfall

TechCrunch

One of the biggest questions around this debacle is if there was any misuse of funds between Alameda and FTX. As a result, it used FTX customer funds to make lenders whole; a move that both showed Alameda’s lack of assets, and triggered part of the crash when FTX customers began the crypto exchange equivalent of a run on the bank.

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Who’s profiting from the Bored Ape digital land sale?

TechCrunch

The Yuga Labs digital land sale this weekend , a mass-mint of new NFTs that temporarily clogged the Ethereum blockchain, is not just making money for the company behind the new set of images that may figure in a future digital service. Crypto Bahamas signals stronger ties between old and new worlds of finance. But I wonder.

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Flying taxi startup Lilium will build a hub for its electric aircraft in Florida

The Verge

It will work with the primary real estate developer in the area, Bahamas-based Tavistock Development Company, on the development and construction of the vertiport. But the funding round fell short of the $400–500 million that TechCrunch reported the company was pursuing last October.

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Remembering the startups we lost in 2022

TechCrunch

Airlift, once one of Pakistan’s most richly valued and funded startups, shut down in July due to lack of capital and an unsuccessful attempt to close a funding round. Before that, the commerce service platform raised $85 million in the country’s largest Series B funding, at a valuation of $275 million. Image Credits: Argo AI.

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