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Conflicting Reports Emerge About SEC Helping Bankrupt Crypto Exchange FTX With Legal Loopholes
14.11.2022
The U.S. Securities and Exchange Commission (SEC) reportedly met with crypto exchange FTX and former CEO Sam Bankman-Fried several times before the crypto firm filed for bankruptcy. SEC Chairman Gary Gensler was rumored to be helping FTX with legal loopholes. However, a new report indicates...
CrossTower revises new offer for Voyager's assets after FTX's bankruptcy
13.11.2022
Voyager reopened its bidding process after FTX US, the original winner, filed for bankruptcy on Nov. 11
SBF’s ‘Truly Trustless’ Protocol — Serum’s Upgrade Authority May Be Tainted, Devs Look to Fork Project
13.11.2022
According to Solana’s founder, Anatoly Yakovenko, Serum developers are forking the platform because the “upgrade key to the current one is compromised.” Serum, created by FTX’s Sam Bankman-Fried (SBF), was touted as “completely permissionless,” but now that...
FTX Contract Deployer Unlocks 192 Million FTT, Exchange Token’s Questionable Tokenomics Highlights Red Flags
13.11.2022
Following the collapse of FTX and the exchange filing bankruptcy on Nov. 11, the trading platform’s exchange token called ftx (FTT) has shed 91.6% in value during the last seven days. While the FTT token’s utility is based entirely on the backing of the now-bankrupt FTX and Alameda...
FTX Collapse: Africa-Focused Payments Firm AZA Finance Slams ‘Erroneous Inclusion’ in FTX Bankruptcy Filing
13.11.2022
The founder and CEO of an Africa-focused payments firm, Elizabeth Rossiello, claimed on Nov. 11 that the beleaguered crypto exchange FTX had incorrectly included AZ Finance in its chapter 11 bankruptcy protection filing. The CEO insisted that her firm does not hold customer funds and is presently...
From Mercedes F1 to Miami Heat, Sports Teams Suspend FTX Sponsorships
13.11.2022
A string of organizations competing in various sports are pulling out of sponsorship deals with beleaguered cryptocurrency exchange FTX. The coin trading platform had pledged millions of dollars to building up brand recognition among sports fans before it went bankrupt. FTX Sign Being Dismantled...
Bitcoin Price and Ethereum Prediction, FTT Drops 90% Over FTX Bankruptcy & Hack
13.11.2022
Bitcoin is down nearly 1.5% to $16,800 as a result of the FTX bankruptcy, which has caused market chaos and risk-off sentiment. Ethereum, the second most valuable cryptocurrency, on the other hand, has gained over 1.5% to trade at $1,264.
Major cryptocurrencies were trading in the negative early...
Former US Treasury Secretary Larry Summers Compares FTX Collapse to Enron Fraud
13.11.2022
Former U.S. Treasury Secretary Lawrence Summers has compared crypto exchange FTX to Enron, noting that the case is a classic fraud rather than the complexities of cryptocurrency regulation. He said the regulatory community ought to draw two lessons from the collapse of FTX. Larry Summers Compares...
Elon Musk Tells Twitter Staff Economic Picture Ahead Is Dire — ‘Bankruptcy Isn’t Out of the Question’
13.11.2022
Tesla CEO and Twitter chief Elon Musk has informed Twitter employees that the company’s “economic picture ahead is dire.” Noting that “bankruptcy isn’t out of the question,” the billionaire stressed that “Without significant subscription revenue, there is...
FTX CEO Confirms Reports of ‘Unauthorized Access to Certain Assets,’ Team Is ‘Coordinating With Law Enforcement’
12.11.2022
Following the reports that said FTX wallets were being drained and the FTX Telegram channel’s admins that detailed its possible malware might be present in FTX-related apps and websites, the company’s new CEO John Ray confirmed there were “unauthorized transactions.” The news was shared by...
Hedge Fund Galois Capital Discloses ‘Roughly Half’ of the Firm’s Capital ‘Stuck on FTX’
12.11.2022
According to the co-founder of Galois Capital, the hedge fund manager who warned about the Terra collapse before it happened, half of the hedge fund’s capital is left trapped on FTX. Galois co-founder, Kevin Zhou, wrote a letter to investors explaining the situation and said he was “deeply sorry”...
Sam Bankman-Fried denies rumors that he fled to Argentina
12.11.2022
SBF stepped down as CEO of FTX on Nov. 11 after initiating Chapter 11 bankruptcy proceedings in the District of Delaware
Flight Radar Report Shows FTX Co-Founder’s Private Jet Flew to Argentina, SBF Says He’s Still in the Bahamas
12.11.2022
According to Flightradar24’s official Twitter account, the most tracked flight at 3:33 a.m. on Nov. 12, 2022, was Sam Bankman-Fried’s (SBF) private jet flying from the Bahamas to Argentina. While the flight track doesn’t mean SBF took the flight, a number of people suspected someone from...
FTX reportedly hacked as officials flag abnormal wallet activity
12.11.2022
Wallets tied to FTX and FTX US have seen $659 million in cumulative outflows over the past 24 hours, according to Nansen
Report Says Alameda Research ‘Didn’t Trade Crypto,’ Speculators Think SBF’s Political Connections Let FTX Fly Under the Radar
12.11.2022
On Nov. 11, 2022, FTX Trading Ltd. filed a voluntary petition for Chapter 11 bankruptcy protection in Delaware. The news followed a few days of speculation and evidence that had shown the digital currency exchange was likely insolvent. The company’s bankruptcy filing and information concerning...
For Coinbase, FTX’s Bankruptcy Has Its Pluses and Minuses
12.11.2022
FTX’s collapse may turn off some investors from putting money into crypto altogether, but it could be an opportunity for Coinbase to pick up market share
Bitfinex CTO releases proof of reserves amid FTX bankruptcy fiasco
12.11.2022
Over the past few days, major crypto exchanges, including Binance, OKX, Kucoin and Crypto.com, committed to sharing their proof of reserve to regain investor confidence
FTX funds on the move: bankruptcy proceedings, insider threat or a hack?
12.11.2022
The wallet address in question received funds from various international and U.S.-based wallets linked to FTX, which amassed over 83,878.63 ETH (worth over $105.3 million) in just two hours
'Need to update my LinkedIn' — FTX Ventures head resigns: Report
11.11.2022
Amy Wu’s resignation followed the news 134 companies associated with the FTX Group would be filing for bankruptcy under Chapter 11 in the United States
Onchain Data Shows FTX US Paused ETH Withdrawals for 2 Hours, Users Complain of Withdrawal Errors
11.11.2022
After FTX International’s parent firm West Realm Shires Services filed for Chapter 11 bankruptcy protection in Delaware, users noticed that FTX US was included in the bankruptcy filings. On the U.S. exchange’s website, the firm notes that “trading may be halted on FTX US in...