Beleaguered crypto exchange FTX said unauthorized fund transfers from FTX Global are being sent to other exchanges via crypto wallets. “Exchanges should be aware that certain funds transf...
Tag: Deals
Ripple to consider deals for FTX assets: Brad Garlinghouse
Ripple CEO Brad Garlinghouse is reportedly interested in buying certain parts of collapsed crypto exchange FTX. On the sidelines of Ripple’s Swell conference in London — was held on Nov. 16 and 17 — G...
Masayoshi Son Now Owes SoftBank $4.7 Billion on Side Deals
(Bloomberg) — Masayoshi Son is now personally on the hook for about $4.7 billion on side deals he set up at SoftBank Group Corp. to boost his compensation, after mounting losses in the company’s...
Here Are the Sports Marketing Deals Crumbling Along With FTX
In brief Following FTX’s bankruptcy filing, many of the sports teams and leagues that it sponsored are suspending their deals. FTX signed a wide array of sports marketing deals in 2021 and 2022, agree...
Bankman-Fried cashed out $300 million during FTX fundraise last year: WSJ
FTX founder Sam Bankman-Fried quietly cashed out $300 million in personal stakes in the midst of a $420 million fundraise in October 2021, the Wall Street Journal reported. Bankman-Fried told in...
Genesis Block HK has more than $50 million stuck on FTX: Source
Genesis Block HK, a crypto over-the-counter (OTC) trading firm based in Hong Kong, has funds stuck in the now-bankrupt crypto exchange FTX, two people with knowledge of the matter told The Block. ...
Genesis sought emergency loan of $1 billion: WSJ
Genesis sought an emergency loan of $1 billion from investors before telling clients it was suspending redemptions in the wake of the collapse of FTX, The Wall Street Journal reported. Genesis s...
Troubled crypto lender Vauld has $10 million stuck on FTX: Source
Troubled Asian crypto lender Vauld has funds stuck in the now-bankrupt crypto exchange FTX, two sources with direct knowledge of the matter told The Block. The exposure is worth around $10 milli...
Nexo had offered BlockFi an $850 million deal to potentially acquire it
Crypto lender Nexo earlier this year made an unsuccessful offer to acquire troubled rival BlockFi as part of a proposed deal worth about $850 million, according to an “indicative investment prop...
Temasek writes down $275 million investment in FTX
Temasek, Singapore’s sovereign wealth fund that manages about $300 billion, has written down all of its $275 million investment in FTX and FTX US. Temasek had invested $210 million for a 1...
3AC hunted by FTX, Alameda, founder claims. Sam Bankman-Fried disagrees.
Three Arrows Capital co-founder Kyle Davies said that “FTX, Alameda colluded to trade against clients” and “hunted” his company. “As their biggest client, we, 3AC, were hunted ...
Genesis Global Capital suspends redemptions, with impact spreading to Gemini
Genesis Global Capital, the lending business of Genesis Trading, temporarily suspended redemptions and new loan originations in the wake of FTX’s recent collapse and the earlier Three Arrows Cap...
SBF says he wants to ‘raise liquidity’ as puzzling tweets continue
Sam Bankman-Fried, former CEO of beleaguered crypto exchange FTX, is still tweeting. In the latest installments of a puzzling series of posts on Twitter, Bankman-Fried said that “too much levera...
Australia suspends FTX’s financial services license
The Australian Securities and Investments Commission has suspended FTX Australia’s financial services license in the country until May 15, 2023. “Until [December 19] 2022, FTX Austra...
Paradigm founder feels ‘deep regret’ over FTX investment, marks it down to zero
Paradigm co-founder Matt Huang said that the VC firm wrote down its investment in the bankrupt FTX exchange to zero, confirming what The Block had previously reported. The executive also said th...
Silvergate stock sinks 12% on FTX links
Crypto bank Silvergate shares tanked 12% as the ripple effects of FTX’s collapse continue. Last week, the La Jolla-based crypto bank said its exposure to FTX was limited to deposits, but ...
Golden State Warriors and Miami Heat Axe FTX Deals
The Golden State Warriors, the San Francisco-based NBA team, is pausing all FTX-related promotional deals, ESPN reported. All in-arena promotions and advertisements for the brand have been removed fro...
Sam Bankman-Fried tried to raise fresh cash over the weekend: WSJ
Former FTX CEO Sam Bankman-Fried thinks that he can raise enough cash to make users whole and spent the past weekend with a few remaining employees seeking commitments from investors, the Wall Street ...
Bahamas approves provisional liquidators for FTX assets
“Given the magnitude, urgency, and international implications of the unfolding events with regard to FTX, the Commission recognized that it had to, and moved swiftly to use its regulatory powers...
Ark Invest picks up $2.8 million worth of Grayscale Bitcoin Trust shares
Cathie Wood’s Ark Invest bought shares in Grayscale’s Bitcoin Trust (GBTC) on Monday, days after the trust’s discount reached a new low. Ark purchased 315,259 shares of GBTC o...
As FTX Loses Sponsorship Deals, Crypto.com Could be Next
With the collapse of FTX, their stadium naming rights have voided, which could have implications for other crypto sporting sponsorships. Sam Bankman-Fried’s cryptocurrency exchange became one of the m...
Ikigai’s Travis Kling says hedge had ‘large majority’ of assets on FTX
Ikigai Asset Management, a Puerto Rico-based crypto asset management startup, held a “large majority” of its assets on FTX and was not able to withdraw much of those assets after the excha...
Binance will launch a new ‘industry recovery fund’
Binance will launch a new fund to help prop up crypto projects facing liquidity crunches. Changpeng Zhao, Binance’s CEO, tweeted about the plan early on Nov. 14. “To reduce further cascadi...
Bahamas regulator contradicts FTX claim that it was required to process local withdrawals
The Securities Commission of the Bahamas (SCB) did not require failed crypto exchange FTX to allow withdrawals for users in the country, according to a statement shared on the financial regulator̵...
FTX had only $900 million in liquid assets backing $9 billion in debt: FT
FTX had only $900 million in liquid assets against $8.9 billion in liabilities on the eve of bankruptcy, the Financial Times reports. Citing investment materials, the report noted that the large...
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...
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 (...
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...
Celsius reveals $13 million in loans to Alameda Research
Troubled crypto lender Celsius reported exposure to the FTX exchange and sister trading firm Alameda Research that both filed for Chapter 11 bankruptcy protection on Friday. Celsius tweeted “in ...