Forkast.News is now Forkast Labs

Search results: FTX

Page of 15

Pantera Capital targets US$250 mln Solana purchase from FTX assets

Crypto firm Pantera Capital aims to acquire $250 million in Solana tokens from bankrupt FTX’s holdings at a significant discount.

FTX cautions against unauthorized asset sales

FTX warns public about unauthorized parties soliciting bids for its digital assets, reaffirming Galaxy Asset Management’s exclusive role.

FTX founder seeks reduced sentence of under 6.5 years

Sam Bankman-Fried’s legal team argues for a lighter prison term, criticizing the 100-year recommendation as excessive.

US charges trio in FTX crypto exchange hack

The mystery of the FTX hack unfolds as the DOJ charges three unnamed suspects for the US$400 million theft in November 2022.

FTX expects to repay customers, no exchange relaunch

FTX plans to repay customers amid bankruptcy proceedings, rules out exchange relaunch.

FTT up 65% after SEC’s Gensler hints FTX restart

FTT rose over 65% despite FTX founder Sam Bankman-Fried’s guilty verdict last week.

Proof Group among three top bidders for FTX relaunch: report

Proof Group is also part of the group that won the bid for bankrupt crypto lender Celsius.

Binance’s rollercoaster week: expansion, setbacks, and the ghost of FTX’s collapse

Top blockchain and crypto news: Is Japan a new frontier for Binance? AI art sweeps NFT sales. ETF buzz electrifies Bitcoin.

FTX top lieutenant Nishad Singh bought US$3.7 million house after learning about the exchange’s misuse of customer funds

Nishad Singh testified he bought a house a month before FTX’s collapse despite learning of the exchange’s misuse of customer funds weeks prior.

FTX exec Nishad Singh testifies on Bankman-Fried’s ‘excessive’ and ‘flashy’ spending

FTX co-founder Nishad Singh testified on Bankman-Fried’s “excessive” spending including political donations coordinated in a group chat titled “Donations Processing.”

Binance: One year on from FTX’s downfall

Inside the world’s largest crypto exchange’s annus horribilis.

Caroline Ellison told Alameda Research about FTX user deposits last November: Cointelegraph

Alameda Research reportedly did not know about the misuse of FTX user deposits until last November.

Russian hackers may be behind FTX hack: Elliptic

The research firm said that on-chain data point toward Russian hackers, instead of the previously-suspected North Korean Lazarus Group.

FTX collapse helped the evolution of crypto regulation, says Bahamas securities regulator

FTX’s collapse and the crypto winter helped regulators familiarize themselves with the rapidly evolving crypto industry, said Christina Rolle of the Bahamas Securities Commission.

Alameda had a US$65 bln line of credit, says FTX co-founder Gary Wang

Gary Wang, co-founder and former chief technology officer of cryptocurrency exchange FTX, testified on Friday that Alameda Research, the sister trading firm of the exchange, had a special line of credit of up to US$65 billion from FTX, that allowed the firm to spend US$8 billion of customer funds. See related article: Little-known FTX co-founder […]

Little-known FTX co-founder Gary Wang testifies in Sam Bankman-Fried trial

Wang admits he implemented special privileges in the exchange’s code to enable Alameda Research to withdraw unlimited funds.

Back from the dead: Can FTX stage a comeback?

The prospect of FTX’s return to the competitive exchange landscape is being keenly watched by stakeholders, reflecting on its meteoric rise, groundbreaking approach, and tumultuous fall.

Bitcoin, Ether flat; altcoins drop amid FTX liquidation

Bitcoin dipped on Monday morning in Asia to trade at around US$26,500. Ether also moved lower but held the US$1,600 support level.

Binance.US cuts manpower, FTX liquidates crypto as people throng to TOKEN 2049

We bring you to one of the biggest crypto events in Asia.

FTX gets green light to sell US$3.4 billion in crypto assets

A U.S. bankruptcy court in Delaware approved failed crypto exchange FTX’s motion to sell its crypto assets at a court hearing on Wednesday.

Bitcoin, Ether bounce back; altcoins recover after FTX panic

Bitcoin rose on Wednesday morning in Asia to near US$26,000. Ether also bounced back to near US$1,600. All other top 10 non-stablecoin tokens logged gains.

Bitcoin, Ether lose key support levels; altcoins slide amid FTX liquidation woes

Bitcoin fell on Tuesday morning in Asia to hover above US$25,000 after briefly losing the key support level. Ether also slid to lose control of US$1,600.

FTX sues LayerZero Labs to recover US$21 million

FTX cryptocurrency exchange has filed a lawsuit against LayerZero Labs to recover $21.37 million allegedly withdrawn from the exchange illegally.

Former FTX exec Ryan Salame to forfeit US$1.5 billion after pleading guilty to charges

Salame pleaded guilty Thursday in New York to two criminal charges related to the collapse of the FTX cryptocurrency exchange last November.

Sam Bankman-Fried’s lawyers granted unlimited prison visits; FTX tries to sell crypto holdings

Sam Bankman-Fried’s lawyers can visit him in jail on a daily basis, a U.S. district court ruled on Wednesday, while FTX’s new CEO wants to sell its crypto.

Why FTX deserves a second chance

Despite the outrage against Sam Bankman-Fried and the now-bankrupt exchange, everyone would be better off with a relaunched FTX 2.0, writes Rachel Lin, CEO of SynFutures.

FTX founder Sam Bankman-Fried charged with stealing customer funds for political donations

The FTX founder faces charges of wire fraud, securities fraud, commodities fraud and money laundering related to the exchange’s collapse in November.

FTX founder Sam Bankman-Fried jailed for witness interference

Sam Bankman-Fried, founder of the collapsed crypto exchange FTX, was jailed Friday and his bail revoked ahead of his trial for fraud scheduled for October 2.

Hackers hit Curve, China announces blockchain link & is FTX back?

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Singapore’s Temasek cuts employee compensation for failed FTX investment decision

Temasek, Singapore’s state-owned investment firm, said on Monday that it has cut the pay of senior management and the investment team involved in the decision to invest in the now-bankrupt FTX cryptocurrency exchange.

Bankrupt FTX recovers US$7.3 billion in assets, considers resurrection of operations

The failed FTX cryptocurrency exchange has recovered around US$7.3 billion in assets and is considering the option of restarting its business.

FTX’s lack of financial controls complicates bankruptcy asset recovery, says legal filing

Former executives of the bankrupt crypto exchange FTX failed to install appropriate financial controls in the company, complicating the asset recovery process, the restructuring team of the failed exchange said.

FTX’s Alameda sues Grayscale over crypto trusts

Alameda Research has filed a law suit against crypto conglomerate Digital Currency Group and its asset management business Grayscale over trust investments.

Former executive Nishad Singh pleads guilty to criminal charges in FTX collapse

Nishad Singh, former engineering chief of bankrupt cryptocurrency exchange FTX, pleaded guilty to fraud and several other criminal charges at a hearing on Tuesday related to the collapse of the company, Bloomberg reported.

FTX founder Sam Bankman-Fried hit with four more criminal charges

The founder of bankrupt cryptocurrency firm FTX.com Sam Bankman-Fried (SBF) has received another four criminal charges in a superseding indictment on Thursday.

FTX Japan resumes withdrawals through Liquid Japan web platform

FTX Japan, the Japanese subsidiary of Sam Bankman-Fried’s bankrupt FTX, resumed withdrawal of customer holdings on Tuesday.

Crypto hedge fund Galois Capital to close after losing US$40 mln in FTX

Cryptocurrency-focused hedge fund Galois Capital will close and return the remaining funds to investors after losing US$40 million worth of assets in the collapse of crypto exchange FTX.com

Former FTX executive Nishad Singh negotiating guilty plea on fraud charges: Bloomberg

Nishad Singh, a former executive at bankrupt Bahamas-based cryptocurrency exchange FTX.com, may be leaning towards pleading guilty to fraud charges for his involvement in the company’s last November

FTX Donations Clawback

The new leadership at FTX are threatening charitable and political organizations with lawsuits if they don’t return donated funds. Will this benefit ordinary depositors?

Why the crypto sector needs radical transparency in the post-FTX world

Self-custody is cumbersome and carries risks of seed phrases getting lost, but how can we ensure if a third-party custodian can be trusted?

Lessons from FTX: crypto investment risks and how to avoid them

The recent spate of crypto exchanges freezing customer accounts should be a wake-up call to investors everywhere. What can you do to better protect yourself?

Robinhood aims to buy-back its shares seized by Department of Justice in FTX failure

Robinhood Markets Inc., the U.S.-based financial services company, aims to purchase the 55 million of its shares that FTX-linked Emergent Fidelity Technologies bought in May 2022, according to its earnings report released Wednesday.

Bankrupt FTX threatens legal action to claw back donations to politicians, charities

The move marks a shift in tone from December when recipients of FTX donations were requested to “voluntarily” return the funds.

Silvergate probed by US prosecutors over FTX, Alameda accounts: Bloomberg

U.S. prosecutors are investigating California-based cryptocurrency bank Silvergate Capital Corp. for how it handled accounts tied to now-bankrupt crypto exchange FTX and its brokerage arm Alameda Research, Bloomberg reported on Thursday, citing sources familiar with the matter.

Bankrupt FTX held US$1.4B in cash at the end of 2022

Bankrupt cryptocurrency exchange FTX.com had around US$1.4 billion in cash reserves at the end of 2022, according to a financial update released Tuesday.

What we must learn from FTX so that history does not repeat itself

Tighter regulations are necessary but not enough. The industry also needs to address its issues with custody and transparency, writes Chen Zhuling of RockX.

Sam Bankman-Fried’s family members are not cooperating with FTX attorneys, court documents claim

Sam Bankman-Fried’s mother and brother are not cooperating with the FTX legal team’s investigations into the Bahamans-based exchange’s bankruptcy and misappropriation of customer funds

Apple, New York Times, Hong Kong Government listed among FTX creditors

Lawyers for the bankrupt cryptocurrency exchange, FTX.com, filed a document with a list of its institutional creditors on Thursday, which included major technology firms, publications and government bodies.  

Bankrupt BlockFi’s financials show US$1.2 bln exposure to FTX, Alameda: report

Bankrupt BlockFi reportedly had over US$1.2 billion of assets tied to FTX.com and its sister trading firm Alameda Research

FTX chief John Ray mulls resurrection of collapsed crypto exchange

FTX is exploring options to revive its bankrupt international cryptocurrency exchange, FTX.com, CEO John Ray told the Wall Street Journal.

Former FTX U.S. CEO Sam Bankman-Fried rejects liquidators’ claim of recovered assets

Founder and former chief executive of FTX U.S., Sam Bankman-Fried, has rejected claims by the company’s current leadership made in a presentation on Tuesday that the team has only recovered US$181 million worth of funds from the exchange.

FTX says US$415 mln in crypto hacked since bankruptcy filing

Bankrupt crypto exchange FTX told creditors that it lost around US$415 million worth of cryptocurrencies to hacks since it filed for bankruptcy.

Monex Group expresses interest in bidding in upcoming sale of FTX Japan: Bloomberg

Tokyo-based online brokerage Monex Group Inc. indicated it may join the bidding for the Japan subsidiary of the failed FTX cryptocurrency exchange.

Why is it harder to arrest Terra-Luna founder Do Kwon than FTX’s Sam Bankman-Fried?

South Korea’s attempts to extradite the founder of the collapsed Terra-Luna stablecoin will remain hamstrung while the courts in Seoul dispute the charges against him.

Crypto.com announces 20% cut in headcount, cites post-FTX market conditions

Crypto.com will lay off 20% of its workforce, its co-founder and chief executive officer Kris Marszalek said Friday in a Twitter post.

FTX loses Miami Heat stadium sponsorship

National Basketball Association (NBA) team Miami Heat’s home arena will soon be renamed after a Florida judge ended the naming rights agreement between the bankrupt cryptocurrency exchange, FTX.com, and Miami-Dade County

Bankrupt FTX exchange has recovered US$5 bln worth of ‘liquid’ assets, lawyers say

The names of the crypto exchange’s 9 million customers and creditors will remain sealed from the public for at least three months.

Australian crypto exchange Swyftx to end interest yielding product, cites lack of regulation clarity

Australian crypto exchange Swyftx is ending its crypto-interest earning product Earn on Tuesday due to a “constantly changing regulatory landscape” in the country, according to a company announcement.

Silvergate cuts 40% of staff after facing US$8.1B in withdrawals amid FTX collapse

Cryptocurrency bank Silvergate Capital has laid off 40% of its staff, or about 200 employees, after the collapse of FTX.com, which sparked mass withdrawals of around US$8.1 billion.

U.S. authorities to seize US$460 mln of Robinhood shares in FTX fraud case

U.S. prosecutors are moving to seize the US$460 million worth of Robinhood Markets Inc., shares linked to Sam Bankman-Fried, the former chief executive officer of Bahamas-based bankrupt cryptocurrency exchange FTX.com

Sam Bankman-Fried pleads not guilty to fraud charges in FTX exchange collapse

Sam Bankman-Fried, the founder of the FTX cryptocurrency exchange that collapsed in November with billions of dollars in investor funds missing, pleaded not guilty to charges of fraud on Tuesday in New York.

Bahamas regulator denies FTX CEO’s claims over seized assets

The Securities Commission of The Bahamas has rejected “material misstatements” made by FTX’s newly-appointed CEO, John J. Ray III

FTX founder Sam Bankman-Fried allegedly cashes out US$684,000, on-chain data show

On-chain data showed that Sam Bankman-Fried, the founder of the now-bankrupt FTX exchange, sent around 570 Ether worth US$684,000 to a Seychelles-based exchange and Ren Protocol’s Bitcoin bridge on Wednesday

Bahamas regulators hold US$3.5 bln of FTX assets, to be delivered to customers, creditors

The Securities Commission of the Bahamas is temporarily holding US$3.5 billion of digital assets seized from FTX Digital Markets

FTX founder Sam Bankman-Fried likely to enter plea deal: report

Sam Bankman-Fried is expected to enter a plea deal next week to fraud charges connected to the collapse of cryptocurrency FTX Reuters reported.

FTX customers file lawsuit for priority repayment

Former customers of FTX have filed a class action lawsuit against the bankrupt cryptocurrency exchange and its top executives, including Sam Bankman-Fried, to seek priority rights to repayment before any non-customer creditors.  

Will FTX’s collapse decentralize the industry? 

While the collapse of FTX may invite more scrutiny for centralized exchanges, Binance’s Patrick Hillmann believes it could benefit the industry through more decentralization.

Sam Bankman-Fried, FTX misled investors, lent billions to Alameda, Caroline Ellison says

Caroline Ellison, former chief executive of trading firm Alameda Research, told a federal judge last week that she agreed with executives of FTX, including former CEO Sam Bankman-Fried, to mislead lenders and customers on how much Alameda was borrowing from the now-bankrupt exchange.

No change in community banks’ view of crypto after FTX’s collapse, says ICBA’s Brian Laverdure

ICBA vice-president Brian Laverdure believes that community banks are unfazed by FTX’s collapse, but remain split on cryptocurrencies.

Time for reflection: How will FTX’s implosion impact crypto regulation?

This year’s cascade of crypto collapses should be a wake-up call to regulators, says the Independent Community Bankers of America’s Brian Laverdure.

FTX asks court to keep US$450 mln Robinhood shares frozen

Failed cryptocurrency exchange FTX Trading Ltd. has asked a bankruptcy court to keep US$450 million worth of Robinhood shares frozen, as three parties battle for the true ownership of the assets. 

Decentralized exchanges could gain popularity following the FTX collapse

Ethan Buchman of Cosmos believes that 2023 may be the year of decentralized exchanges and more advanced cross-chain applications.