The collapse of FTX, one of the leading crypto exchanges, sent shockwaves in the digital asset space. With the liquidity issue being a primary contributor to the FTX crisis, the proof-of-reserves conc...
Tag: FTX
FTX Collapse Caused Crypto Market To Shed Over $100 Billion In 24 Hours
Major cryptocurrencies are down with some depreciating in value more than 10% in the past 24 hours. Just days earlier, Binance CEO Changpeng Zhao announced that FTX asked for help in dealing with the ...
Binance Backs Out of FTX Deal Following Due Diligence
The world’s largest cryptocurrency exchange Binance announced on Wednesday it has pulled out from its agreement to acquire rival exchange FTX citing due diligence and “news reports regarding mishandle...
Galaxy Digital discloses $77M exposure to FTX, $48M likely locked in withdrawals
In its latest quarterly earnings call on Nov. 9, blockchain financial services firm Galaxy Digital disclosed that it had an exposure of $76.8 million consisting of cash and digital assets to troubled ...
Justin Sun drops hints about potential FTX partnership – crypto.news
After Binance announced it would not proceed with a deal to acquire troubled cryptocurrency exchange FTX, Justin Sun, the founder of the Tron cryptocurrency network and the ambassador of Grenada to th...
Embattled crypto lender Hodlnaut held $13 million on FTX before withdrawal freeze
Troubled Singapore-based crypto lender Hodlnaut held assets worth $13.1 million (S$18.4 million) as of October 25 on the collapsed cryptocurrency exchange FTX. It is unclear whether Hodlnaut’s manager...
Sequoia Capital Drops Its FTX Holdings to $0, Following “Liquidity Crunch”
3 hours ago | 2 mins read Exchange News VC firm, Sequoia said that the platform was writing down the full value of its investments in FTX. Sequoia Capital invested around $214 million in the FTX platf...
Nexo distances itself from FTX
As the saga of FTX’s utter collapse continues, Nexo tweeted that its exposure is zero following the recent withdrawal of its total balance held with the troubled exchange. .@Nexo has $0 net exposure t...
Crypto Executives Blame Lack of US Regulations for FTX Fiasco
The fallout of the FTX exchange will be wide-reaching as the year of crypto contagions continues. Industry leaders are citing a lack of regulations in the U.S. for the incident. Millions of retail and...
How Will Justin Sun Provide Support To Insolvent FTX Exchange?
After Binance backed out of the FTX acquisition deal, justin sun justin sun founder at tron Justin Sun is the founder of Tron and CEO of BitTorrent. He has become quite possibly the most renowned fi...
Sequoia Capital’s $213.5m Investments in FTX Marks Down to $0
The liquidity crisis in the cryptocurrency trading platform FTX.com continues to escalate in the crypto market. On November 10, Sequoia Capital shared a note on FTX sent to Global Growth Fund III on T...
Binance Will Not Acquire FTX
After announcing it would come to the aid of FTX, Binance on Wednesday confirmed that it would no longer move forward with the deal to acquire the troubled cryptocurrency exchange after conducting due...
Sam Bankman-Fried Tells Investors FTX Needs $8 Billion Bailout
The announcement came in a call to investors on Nov. 9, just after Binance pulled out of the deal to acquire FTX. SBF said he hoped the beleaguered exchange could raise as much as $3-4 billion in equi...
Ethereum Amid FTX Crisis: ETH Plunges 22%
Ethereum and the rest of the crypto markets are now experiencing yet another crippling calamity. They call it the ‘black swan’ event, which caused the disintegration of one of the largest crypto excha...
FTX Acquisition And Crypto Crash Is Bad For The Community, Says CZ Binance
CEO Changpeng Zhao (CZ) gave statements to clarify the air amid the FTX ordeal and circumstances surrounding its acquisition by Binance. On Tuesday, FTT, the FTX native token, went to ruins with over ...
In staff letter, Binance CEO embraces scrutiny from regulators amid potential FTX deal
Changpeng “CZ” Zhao, the CEO of crypto exchange Binance, warned users its intention to acquire FTX may invite scrutiny from global regulators — but the firm is ready. In a letter to Binance staff twee...
Crypto Stocks Continue Drop as Binance Walks Away from FTX Deal
Shares of tech firm MicroStrategy (MSTR, which holds about 130,000 bitcoins, fell 20% Wednesday. Crypto exchange Coinbase (COIN) dropped 9.5%. Crypto-focused bank Silvergate (SI) declined 12%, while f...
Crypto VCs Reckon With Failing FTX Investments
Venture capital (VC) firms Sequoia and Multicoin Capital have issued letters to limited partners advising them of their exposure risk to collapsed crypto exchange FTX. Multicoin Capital, a crypto-focu...
‘The damage here is huge’
The crypto industry needs to raise its standards in the wake of the implosion of Sam Bankman-Fried’s cryptocurrency exchange FTX. That’s according to fellow exchange Kraken’s CEO and co-fo...
Bankman-Fried secretly moved $4 billion including FTX customer deposits to Alameda
New details are coming to light regarding the behind the scene events that saw cryptocurrency exchange FTX encounter a significant liquidity crunch resulting in the near-collapse of the platform. The ...
Binance Drops Plans to Acquire Finetech Startup FTX
4 hours ago | 2 mins read Editors News Binance decided against purchasing FTX. FTX and Alameda are being investigated by the SEC and the CFTC for mishandling customer funds. Binance, the top cryptocur...
FTX gone? – website turned off before returning to ‘advise against depositing’
The FTX.com domain went offline around 10 pm GMT for around 20 minutes before coming back online with a prominent red notice to users. The statement reads, “FTX is currently unable to process withdraw...
CBOE Digital reassures customers amidst FTX liquidity crunch – crypto.news
CBOE Digital, a US-regulated crypto exchange and clearinghouse, issued a letter on Wednesday, November 9, 2022, to its customers to reassure them about asset safeguards amid the FTX liquidity crisis a...
FTX Contagion Threatens Solana As Network TVL Dives Down
The domino effect of the rumors of the FTX carnage is playing out as the Solana ecosystem threatens to implode on the back of the crisis unfolding at FTX and Alameda Research. According to CoinMarket...
FTX used $4 billion including customer funds to keep Alameda afloat: Reuters
FTX chief Sam Bankman-Fried transferred at least $4 billion in FTX funds to Alameda Research, including native toke FTT and shares in Robinhood, according to Reuters. The transfers were made aft...
FTX Legal Staff Quit En Masse Amid Binance Assessment
FTX Staff Quit News Updates: Amid a difficult scenario at FTX with the liquidity crisis, the company has news issues to deal with. According to latest reports, a majority of FTX’s employees in some im...
FTX’s demise part 2 with Wintermute’s Evgeny Gaevoy and CryptoQuant’s Ki Young Ju
Episode 110 of Season 4 of The Scoop was recorded live with The Block’s Frank Chaparro, Wintermute Founder and CEO Evgeny Gaevoy, and CryptoQuant Co-founder and CEO Ki Jung Ju. Listen belo...
Binance walks away from FTX deal, citing ‘mishandled customer funds,’ regulatory scrutiny
Binance has announced that it will not pursue its option to purchase FTX because of its due diligence and reports that a US agency was investigating the exchange over its handling of customers’ funds....
Binance will no longer buy FTX
Join Our Telegram channel to stay up to date on breaking news coverage A well-known CEO who was driving the crypto industry’s push into mainstream finance saw a spectacular tumble. A 30-year-old entre...
Which crypto companies have exposure to FTX?
With the fate of crypto exchange FTX hanging in the balance, many of crypto’s most notable companies have taken to social media to clarify whether they have exposure to the exchange, its native token ...
CFTC Commissioner Kristin Johnson comments on FTX saga
The recent events surrounding the two of the greatest cryptocurrency exchanges have re-opened some of the long-standing questions about the prevention of such occurrences and mitigating their effect o...