Search results: FTX

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. 

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

Caroline Ellison and Gary Wang, two integral members of the Sam Bankman-Fried now collapsed cryptocurrency businesses, are cooperating with prosecutors.

The new restructuring team of FTX has reportedly located over US$1 billion in cash assets that are held in U.S. financial institutions.

Sam Bankman-Fried, former CEO of FTX, has signed documents in the Bahamas for extradition and is scheduled to the U.S. on Wednesday.

Centralized exchanges releasing ‘proof of reserves’ is not enough to win back users, while improving user experience will be key, writes Holger Arians of Banxa.

Attorneys representing FTX are requesting permission from the U.S. bankruptcy court to sell four of the company’s branches: FTX Japan, FTX Europe, Embed, and LedgerX.

Sam Bankman-Fried has reportedly made a second application for bail in the Bahamas – this as lawyers feud over control of the FTX bankruptcy, raising concern the sour grapes may seep into efforts to have Bankman-Fried extradited to face fraud charges in the U.S.

Asia’s cryptocurrency community is “on the path of moving on” from the FTX fiasco, following the arrest of FTX founder Sam Bankman-Fried, said Yat Siu, cofounder and chairman of Hong Kong-based blockchain gaming studio and venture capital firm Animoca Brands.

Kevin O’Leary Kevin O’Leary, chairman of venture capital firm O’Leary Ventures and star of TV’s Shark Tank, said in a congressional hearing on Wednesday that Binance Global Inc.’s chief executive and founder Changpeng Zhao deliberately caused the collapse of Bahamas-based cryptocurrency exchange FTX.com. 

Ryan Salame, the former co-CEO of FTX’s Bahamian entity tipped off the Securities Commission of the Bahamas about FTX violating its internal procedures in transferring customer funds to Alameda Research.

A Japanese lawmaker called for more transparent regulations following the FTX meltdown, where investors were not warned of the risks with FTX Token.

As U.S. prosecutors line up charges against Sam Bankman-Fried, the founder of the collapsed FTX cryptocurrency exchange, Senator Elizabeth Warren is seeking to pass bipartisan regulation to rein in the “dark underbelly” of the crypto industry.

The bankruptcy of cryptocurrency exchange FTX doesn’t represent the biggest losses for crypto investors in 2022, according to a report from Chainalysis.

SBF was arrested by Bahamian authorities just a day before he was due to testify before Congress – but his successor has been revealing much about FTX’s collapse.

Members of a U.S. Congressional hearing expressed frustration about the timing of Bankman-Fried’s arrest, saying they wanted him to testify under oath so the public could get the answers they are seeking about the collapse of FTX.

FTX’s Sam Bankman-Fried has been charged by the U.S. SEC for orchestrating a years-long fraud on investors, the agency announced on Tuesday.

John J. Ray III, the new CEO of FTX.com, said the company’s failure was caused by the “concentration of control in a very small group of grossly inexperienced and unsophisticated individuals.”

The fall from grace: Once one of the most admired figures in crypto, the former head of the FTX exchange is unlikely to see his Bahamas penthouse anytime soon after being arrested Monday on U.S. charges that are expected to lead to his extradition.

Before the FTX implosion there was Mt. Gox, an exchange that oversaw 80% of all Bitcoin trades before it collapsed in 2014. In this exclusive interview with Forkast, former Mt. Gox Chief Executive Officer Mark Karpeles says what he sees in store for the industry in 2023 in the wake of the FTX bankruptcy.

Top blockchain and crypto news: AAX teeters on the brink. SBF hints at Congressional hearing no-show. Chinese court boosts NFT legitimacy.

Sam Bankman-Fried, founder and former chief executive officer of the bankrupt cryptocurrency exchange FTX, has hired white-collar crime specialist Mark Cohen to represent him, said a Bankman-Fried spokesman.

Goldman Sachs plans to spend millions of dollars to buy or invest in undervalued crypto companies in the post-FTX implosion market depression, as it sees long-term market opportunity, according to Reuters

Sam Bankman-Fried, the founder of the bankrupt cryptocurrency exchange FTX.com, alleged in an interview released on Monday that John J. Ray III, the new chief executive of the firm, has made statements that Bankman-Fried knows to be “false.”

When a crypto exchange fails, will your transaction records vanish, too? Here’s why investors should take responsibility over their own trading data.

Australian cryptocurrency exchange Swyftx cut 90 staff members — or 40% of its workforce — to prepare for a “worst-case scenario” in the market from the collapse of FTX.com.

Sam Bankman-Fried, founder of failed cryptocurrency exchange FTX, said he did not know of any improper use of customer funds at his company, in an interview with ABC News. 

Bankman-Fried beamed into New York from the Bahamas to give his version of what happened at FTX, mentioning his own failure of oversight and being “frankly surprised” by what was going on at his company’s sister brokerage.

The collapse of FTX.com and its far-reaching impacts will hinder North Korea’s ability to profit from cryptocurrency hacks, says one analyst.

Telegram plans to build non-custodial wallets and decentralized exchanges for cryptocurrencies following the collapse of the FTX exchange says CEO Pavel Durov.

Employee accounts of life at Sam Bankman-Fried’s flagship cryptocurrency trading arm Alameda Research paint a picture of overworked and inexperienced millennials running a ship headed for the rocks: one seemingly escaped.

FTX subsidiary LedgerX is reportedly preparing US$175 million for its parent company’s bankruptcy proceedings, according to unnamed sources cited by Bloomberg on Wednesday.

Justin Sun says CeFi must adopt DeFi’s transparency to regain public trust as 1inch Network cofounder Sergej Kunz sees crypto’s struggles as an opportunity for DeFi.

FTX Trading and its affiliates will resume paying wages to employees globally and to some non-U.S. contractors and service providers

Christine Lagarde of the European Central Bank said regulating cryptocurrency in the EU is an “absolute necessity” following the collapse of Bahamas-based exchange FTX.com.

The former CEO of the collapsed crypto exchange “needs to keep his mouth shut” and stop making public comments that could be used against him in future court cases, lawyers tell Forkast.

The chief executive officer of Binance, Changpeng Zhao, regrets sending ‘too late’ a tweet that contributed to the collapse of FTX.com.

U.S. Senators Elizabeth Warren and Sheldon Whitehouse called for holding former FTX CEO “and any complicit FTX executives” to the fullest extent of the law.

Sam Bankman-Fried will speak at a time when he’s reportedly facing investigations with FTX undergoing bankruptcy protection proceedings.

As FTX victims and creditors sift through the pieces, how much of this blowup should regulators have seen coming — and could it happen again?

In the first day of FTX’s bankruptcy hearing, FTX counsel says the organization was run as ‘personal fiefdom’ of Sam Bankman-Fried.

Bitcoin recovered above US$16,000 in Wednesday morning trading as it rose along with Ether and the rest of the crypto top 10 by market capitalization, excluding stablecoins.

The parents of Sam Bankman-Fried, along with senior executives of the now-bankrupt FTX, bought at least 19 properties worth nearly US$121 million in the Bahamas over the past two years.

U.S. Senators Elizabeth Warren, Dick Durbin and Tina Smith asked Fidelity Investments to rethink its decision to grant retirement plan exposure to Bitcoin.

The alleged hacker behind the theft of hundreds of millions of dollars from the cryptocurrency exchange FTX is moving the funds around to separate wallets.

Investors are unnerved by the possibility of more failures among companies linked to the now bankrupt FTX exchange, fearing a repeat of the Terra-Luna stablecoin collapse in May that also brought down other businesses.

FTX Japan, a subsidiary of the now-bankrupt FTX.com, is preparing to resume withdrawals by the end of 2022 to Japanese customers, said an unnamed FTX Japan executive to local broadcaster NHK

The Monetary Authority of Singapore (MAS) said on Monday that it was not possible for the central bank to protect local users from FTX’s collapse as the crypto exchange operated offshore and was not licensed by MAS.

Bitcoin mining difficulty rose 0.51% to an all-time-high in Monday’s biweekly adjustment, according to BTC.com.

Human greed and deception led to FTX’s fall. That’s why the antidote is not more regulations but could be found in blockchain’s original promises, writes Marieke Flament, CEO of NEAR Foundation.

S.Korean authorities are looking into self-issued cryptocurrencies that may exist within local exchanges following FTX.com’s FTT-led liquidity crisis.

Collapsed cryptocurrency exchange FTX Trading Ltd. and its affiliates owe their 50 largest creditors about US$3.1 billion, according to a court filing. The creditors were not named.

Eight days after FTX Trading and some 101 affiliated companies filed for Chapter 11 bankruptcy, a strategic review of the group’s global assets was set in motion.

The world’s largest publicly traded hedge fund manager, Man Group Plc, plans to launch a cryptocurrency exclusive fund.

South Korea, Singapore and Japan were the biggest users of FTX.com based on the number of monthly unique visitors from January to October 2022

Bitcoin and Ether both fell in Monday morning trading in Asia along with all of the top 10 non-stablecoin cryptocurrencies by market capitalization.

FTX’’s failure to keep its sister company Alameda Research solvent was likely attributed to the liquidity crunch brought on by the Terra-LUNA collapse, according to Nansen.

Taiwan’s three largest cryptocurrency exchanges have said their operations were unaffected by the fallout of FTX and will work to release proof of assets as soon as possible.

FTX Trading will be at a hearing on Nov. 22 in a bankruptcy court in Delaware, as the troubled exchange seeks to transfer a related case from New York to the Delaware court, according to a court filing.

Crypto exchange Bullish has said it does not have any exposure to now-bankrupt FTX and Alameda Research, and expects FTX’s bankruptcy to have no impact on Bullish’s operations. The exchange is operated by Bullish (GI) Limited and regulated by the Gibraltar Financial Services Commission. 

The Securities Commission of The Bahamas (Commission) on Nov. 12 ordered the transfer of all digital assets of FTX Digital Markets to a digital wallet controlled by the Commission, for “safekeeping,” in an announcement on Nov. 17.

Alameda Research and its affiliates had about US$5.1 billion in liabilities as of Sept. 30, according to a bankruptcy court filing dated Nov. 17.

S.Korean crypto exchange GOPAX halted withdrawal of principal and interest payments in its DeFi service which brokers products from Genesis.

The country is one of the first to say it will act to set up regulations to prevent a collapse similar to FTX, which filed for bankruptcy protection and froze the assets of hundreds of thousands of investors.

John J. Ray III, a Chicago-based lawyer and the new CEO of now-bankrupt crypto exchange FTX, has criticized the lack of “appropriate corporate governance” across FTX Group companies under Sam Bankman-Fried, the founder and former CEO of FTX. 

In a submission to the U.K. Parliamentary Treasury Committee, Binance denied that it deliberately sought to sink competitor crypto exchange FTX.

Sam Bankman-Fried and roughly a dozen of the embattled exchange’s celebrity endorsers are the subject of a class action lawsuit filed by FTX users.

Temasek says its belief in Sam Bankman-Fried may have been ‘misplaced.’

Bitcoin and Ether prices fell in Thursday morning trading in Asia along with all other top 10 tokens by market capitalization, excluding stablecoins.

Bitcoin outflows from centralized crypto exchanges rose to a historic high this week, as investors turned to self-custody options following the collapse of FTX.

Top blockchain and crypto news: FTX fallout spooks sector. Crypto.com’s $400 million ‘accident.’ Hong Kong’s new digital asset drive.

Korbit, one of South Korea’s five fully licensed crypto exchanges, announced Wednesday that it will reveal its full list of crypto reserves.