The crypto industry is bracing for increased selling pressure as FTX, a digital asset exchange, announced its plans to liquidate billions of dollars worth of assets to repay customers. During a House ...
Tag: FTX
SBF Breaks Silence During Home Arrest; Gives Details on FTX (In)solvency
Sam Bankman-Fried (SBF) has released a written statement detailing his account of FTX and Alameda Research’s collapse, including approximations of each firm’s financials before it took place. The for...
Bankruptcy Court Terminates FTX Naming-Rights Agreement for Miami Heat Arena – Exchanges Bitcoin News
A federal bankruptcy court in the U.S. has ended the FTX naming-rights agreement for Miami Heat’s basketball stadium. The sports venue was branded FTX Arena as part of a multi-year, multi-million doll...
FTX Donations to Early Covid-19 Researchers Raise Questions of Propaganda Tied to Pandemic Prevention – Bitcoin News
While the former CEO of FTX, Sam Bankman-Fried, awaits his trial at the end of the year, reports indicate that the company donated millions of dollars to early Covid-19 researchers. The research was r...
Bitcoin blows past $19,000 for the first time since FTX collapse
Bitcoin surpassed $19,000 for the first time since Nov. 8, when FTX had a tentative deal to sell to Binance. The biggest cryptocurrency rose more than 8% over the past day. Traditional markets a...
SBF reveals his side of the FTX story, blames CZ, targeted attack against FTX
Former FTX CEO Sam Bankman-Fried (SBF) launched a Substack report in which he detailed his version of accounts of what happened at FTX. SBF claimed that “no funds were stolen” and attributed the colla...
Advisors of Bankrupt FTX Found $5B Worth of Sunken Treasures
FTX Group advisors revealed that they found more than $5B in cash or crypto. Advisors have also found a large amount of other crypto assets that are illiquid. The FTX Group advisors have been sorting ...
FTX Recovered $5 B Plus in Assets: Bankruptcy Attorney
Interestingly FTX manages to recover more than $5 billion in assets. This recovery does not include $425 million under the custody of the Securities Commission of the Bahamas. The final amount FTX ow...
Judge slams senators’ letter against FTX lawyers as ‘inappropriate’
The judge handling FTX’s bankruptcy has reportedly slammed a joint letter from four United States senators calling for an independent examiner in the case. As reported by Cointelegraph, the senators s...
Tom Brady Owned 1M Plus in FTX: He Might Not Receive Anything
Football star Tom Brady owned 1.1 million in shares, while his ex-wife owned worth 680,000. The pair were appointed as FTX’s brand ambassadors. Billionaire Kevin O’realy, the former FTX spokesperson...
FTX Loan Washed Out $800M in BlockFi Executives Equity
4 hours ago | 2 mins read Exchange News As per court filings, the FTX loan has swept away $800M in BlockFi executive equity. The filing details the effects of a June FTX loan on 13 BlockFi executives...
Bankman-Fried blames Binance CZ’s ‘fateful tweet’ for FTX collapse
FTX cryptocurrency exchange founder Sam Bankman-Fried (SBF) has once again come out to explain what transpired in the run-up to the platform’s collapse alongside responding to allegations of fraud. I...
Coinbase’s Brian Armstrong labels FTX as a fraud
Coinbase CEO Brian Armstrong thinks the collapse of Sam Bankman-Fried’s FTX exchange is simply a case of fraud and customer funds misappropriation. Armstrong says FTX is a fraud In an interview with B...
Sam Bankman-Fried denies stealing FTX user crypto in new Substack post
Former FTX chief executive Sam Bankman-Fried (C) arrives to enter a plea before US District Judge Lewis Kaplan in the Manhattan federal court, New York, January 3, 2023. Timothy A. Clary | AFP | Getty...
FTX reportedly recovers $5b in cash and digital assets
Crippled exchange FTX has reportedly recovered $5 billion from liquidation processes after the exchange filed for Chapter 11 Bankruptcy. The exchange reportedly had a net liability of more than $8 bil...
Attorneys Claim FTX Recovered $5 Billion in Cash and Cryptocurrencies
2 hours ago | 2 mins read Exchange News The rumored $425 million being held by Bahamian officials is not included in this sum. The FTX scandal was the largest in the history of the cryptocurrency indu...
Crypto Wallet of FTX Sister Firm Alameda Research Receives $30M USDC
Recently, Alameda Research crypto wallet got $30 million in USDC stablecoin. Alameda has $167 million in the said wallet, comprising stablecoins, ETH, and others. FTX plans to sell nonstrategic invest...
Miami Heat’s Stadium To Be Renamed As FTX Loses Sponsorship
A Florida judge has ordered the cancellation of FTX’s sponsorship of the home of the Miami Heat, paving the way for new bids for the sports arena. A spokesperson for the Miami-Dade count stated that ...
Huge Crypto Dump Incoming As FTX Plans To Sell Altcoins Worth $4.6B
Even though the FTX bankruptcy was two months ago, the issue is far from over for the crypto industry. Currently, new FTX CEO John Ray and his team are working to find as many liquid assets as possibl...
FTX, Miami-Dade end stadium sponsorship
A contract that gave FTX naming rights to the Miami Heat stadium in Florida has been terminated, according to a court filing on Jan. 11. That document says that Miami-Dade County, which controls namin...
FTX Announces $5 Bn In Recovery From Cash & Crypto
The troubled cryptocurrency exchange FTX is said to have “recovered $5 billion in cash and liquid cryptocurrencies,” as stated by an attorney who is familiar with the situation. Despite this, the exch...
Silvergate received a $4.3B bailout after FTX collapse
Silvergate Bank received $4.3 billion from the San Francisco-based Federal Home Loan Bank last year, following the collapse of crypto exchange FTX, according to the firm’s Q4, 2022 flings. Silvergate’...
Here’s the Amount of FTX Shares Tom Brady and Gisele Bundchen Will Probably Lose
The NFL legend Tom Brady and his ex-wife Gisele Bundchen collectively own nearly 1.8 million FTX shares. Their investment will most likely be entirely wiped out due to the exchange’s demise in Novembe...
Four US lawmakers ask court to appoint independent examiner for FTX
Four US Senators urged the court to appoint an independent examiner to look into the activities of bankrupt crypto exchange FTX in a Jan. 9 bipartisan letter. The lawmakers argued that the firm presen...
FTX $5 Billion Windfall Unlikely to Benefit Customers
FTX’s lawyers have reportedly recovered $5 billion, but divested customers could still end up at the back of the queue. According to Adam Landis, an attorney at FTX’s legal counsel Sullivan & Crom...
FTX Locates $5 Billion in Assets, Attorney Says: Report
In a hearing from today, a bankruptcy attorney said that FTX has managed to locate over $5 billion of assets. Per a CoinDesk report, the attorney said that they’ve managed to locate over $5 billion of...
Bankrupt FTX Has Recouped Over $5 Billion In Liquid Assets—But Still Has Billions More To Go To Meet Liabilities
Topline FTX has recovered more than $5 billion in cash, easily sellable digital assets and other liquid holdings thus far, an attorney for the disgraced crypto exchange said in a Delaware bankruptcy c...
Tom Brady owned more than 1M FTX shares before collapse, a stake that’s likely gone
The FTX collapse has left the cryptocurrency world reeling, and former brand ambassador for the once $32 billion enterprise turned bankruptcy failure, Tom Brady, could stand to lose millions in its wa...
FTX attorney announces $5B in assets recovered
FTX recovered over $5 billion comprised of cash, investment securities and liquid cryptocurrencies, according to Reuters. “We have located over $5 billion of cash, liquid cryptocurrency and liqu...
Coinbase Strikes a Massive Blow to Bankman-Fried and FTX
Coinbase Chief Executive Brian Armstrong does not mince words. Nearly two months after rival Sam Bankman-Fried’s empire went bankrupt, he’s just delivered a massive blow to what until rec...