Cryptocurrencies fell dramatically after ailing crypto exchange FTX filed for bankruptcy and CEO Sam Bankman-Fried resigned. Crypto market capitalization fell 18.3% to $803 billion. This was an action...
Tag: Bankruptcy
FTX Files for Chapter 11 Bankruptcy, SBF Steps Down
FTX Trading filed for Chapter 11 bankruptcy on Friday while founder and CEO Sam Bankman-Fried resigned from his position and appointed John J. Ray III as its new chief executive. After a very tumultuo...
SBF built bespoke ‘backdoor’ to outwit FTX compliance systems: Reuters
Sam Bankman-Fried built a “backdoor” to his FTX exchange in an effort to change financial records and move funds without alerting others, according to a report by Reuters citing two people...
CySEC requested FTX’s European arm suspend operations prior to bankruptcy: Report
The Securities and Exchange Commission of Cyprus, or CySEC, reportedly issued a statement amid FTX filing for Chapter 11 bankruptcy in the United States requesting the exchange halt operations for its...
Alameda wallets seemingly being drained, according to on-chain data
Funds were seemingly being channelled out of Alameda wallets, with millions in tokens being redirected to one address this morning. Transactions to the wallet included 9.8 million wrapped XRP (...
John Ray III Takes Over as CEO of Bankruptcy Filed FTX
John J. Ray III is registered for insider trading, according to a report from SEC. The once-dominant crypto exchange has fallen apart in the span of a week. Due to a severe lack of funds, cryptocurren...
FTX Enters Bankruptcy as Sam Bankman-Fried Steps Down as CEO
Troubled crypto exchange FTX filed for Chapter 11 bankruptcy protection in the U.S., with Sam Bankman-Fried resigning as the CEO. The bankruptcy application included approximately 130 more affiliated...
The Crypto Market Has Decided To Move On With FTX Bankruptcy
Finally, the game is over for Sam Bankman-Fried as FTX entities filed for Chapter 11 bankruptcy on Friday, November 11. This could probably be the fastest demise for a crypto giant in the history of c...
FTX, FTX US and Alameda will file for Chapter 11 bankruptcy in US; SBF resigns
Within a week, crypto exchange FTX has gone from proposing an acquisition by Binance to sort out its liquidity issues to proceeding with filing for bankruptcy under Chapter 11 in the District of Delaw...
Crypto hedge fund Galois Capital says half of funds stuck on FTX: FT
Crypto hedge fund Galois capital has told its investors that almost half of its funds are stuck on the failed crypto exchange FTX, according to a report in the Financial Times. Kevin Zhou, co-f...
Over $400 Million Drained From FTX Account Hours After Declaring Bankruptcy
The problems with FTX don’t seem to stop. After failing to honor customer withdrawals, revealing a multi-billion hole in its balance sheet, and ultimately declaring bankruptcy, the exchange is sufferi...
AZA Finance Issues Correction to Erroneous Inclusion in FTX Chapter 11 Bankruptcy Filing
LONDON–(BUSINESS WIRE)–Statement from Elizabeth Rossiello, CEO and founder of AZA Finance, on the FTX Chapter 11 Bankruptcy filing: “I was shocked and disappointed to see that FTX named BTC Africa S.A...
Struggling Crypto Exchange FTX Files For Bankruptcy
Exchange News The exchange went from a $32 billion value to insolvency in a matter of days. FTT has dropped by over 27% in the previous hour following the announcement. FTX has formally declared bankr...
SBF out as CEO as FTX files for bankruptcy; SEC Chairman’s ties with exchange under scrutiny
The biggest news in the cryptoverse for Nov. 11 includes FTX filing for bankruptcy as John Ray III takes over from Sam Bankman-Fried as CEO, FTX users seeking to bypass bankruptcy process using the “...
News of FTX Wavers Towards Filing Bankruptcy
SBF owned FTX upsets investors and users. Struggling with problems of liquidity with continuous decline seen in FTT token. The crypto exchange can file bankruptcy. Introduction The crypto ...
FTX bankruptcy: Tom Brady, Steph Curry set to lose big from company’s collapse
Former FTX CEO Sam Bankman-Fried lost his entire $16 billion fortune in just a few days after his company filed chapter 11 bankruptcy protection on Friday, but he’s not the only high-profile investor ...
Crypto.com CEO Shares Company’s Crypto Reserve Addresses in the Wake of FTX Bankruptcy – Bitcoin News
On Nov. 11, 2022, the CEO of Crypto.com Kris Marszalek shared the company’s proof-of-reserves addresses that hold leading crypto assets like bitcoin and ethereum. Marszalek says a “proof-of-reserves a...
BitBoy Accuses SBF of Extorting Billions From Justin Sun, As FTX Files For Bankruptcy
– Advertisement – BitBoy has accused FTX of extorting Justin Sun, as FTX Group filed for bankruptcy amidst insolvency concerns, with Sam Bankman-Fried (SBF) resigning as CEO. The FTX Gro...
FTX Filing for Chapter 11 Bankruptcy, SBF Stepping Down
Key Takeaways FTX and its affiliated companies have filed for Chapter 11 bankruptcy. Sam Bankman-Fried is also stepping down from his role as FTX CEO and will be replaced by John J. Ray III The news c...
FTX Commences Bankruptcy Proceedings as CEO Steps Down
FTX.com has commenced Chapter 11 Bankruptcy proceedings after unsuccessfully attempting to raise $8 billion in liquidity. According to the notice, FTX US, Alameda Research and 130 other connected enti...
FTX Exchange Files For Bankruptcy
In a major development, FTX has officially filed documents to claim bankruptcy. In a few days, FTX went from a $32 billion valuation to bankruptcy as liquidity dried up, user funds got locked, and riv...
Justin Sun Moved $6M Stablecoins From TrueFi Lending Pools Before FTX-Alameda Bankruptcy
Justin Sun, founder of the Tron network and a one-time, potential savior of the insolvent crypto exchange FTX, moved $6.1 million in stablecoins from decentralized lending protocol TrueFi, which is am...
FTX Announces Chapter 11 Bankruptcy, Crypto Market Down
FTX Bankruptcy Proceedings Updates: Troubled crypto exchange on Friday announced it is going ahead with chapter 11 bankruptcy. In a announcement of the major decision, the company said FTX and Alameda...
CEO Bankman-Fried Resigns as FTX Files for Bankruptcy Protection in The U.S.
Days after bigger rival Binance withdrew from a planned acquisition, the announcements were made. On November 11 – The troubled cryptocurrency exchange FTX said on Friday that it would file for bankru...
Crypto lender Voyager reopens bidding process following FTX bankruptcy
Crypto lender Voyager has reopened the bidding process for its assets following the bankruptcy of crypto exchange FTX, which had been expected to buy them. The firm said in a statement: &#...
Tom Brady and Steph Curry’s Crypto Firm Is Bankrupt
This is a debacle and a huge setback for the cryptocurrency industry. FTX, one of the largest digital currency exchanges, filed for Chapter 11 bankruptcy on November 11th. This decision is one of th...
FTX to File For Bankruptcy Protection in US
The post FTX to File For Bankruptcy Protection in US appeared first on Coinpedia Fintech News The troubled cryptocurrency exchange FTX said on Friday that it would file for bankruptcy in the US as its...
‘A lot of people have compared this to Lehman. I would compare it to Enron’: Larry Summers comments on FTX bankruptcy
Former U.S. Treasury Secretary Larry Summers is likening the collapse of troubled cryptocurrency exchange FTX to the meltdown that engulfed Houston-based energy company Enron two decades ago. In an in...