In a FIFA World Cup™ full of firsts, Crypto.com, an Official Sponsor of the FIFA World Cup Qatar 2022™, has teamed up with the football media outlet COPA90 to undertake yet another world first: the challenge to have one person attend each and every FIFA World Cup™ game in Qatar, which has
November 16, 2022 2 mins read
On Wednesday, interim CEO Derar Islim said that Genesis Global Trading’s lending division has temporarily halted withdrawals and new loan originations in the aftermath of FTX’s bankruptcy. Genesis Global Capital, the division in charge of servicing institutional clients, has $2.8 billion in outstanding loans as of the end of the
November 16, 2022 1 min read
On Tuesday, OKX, a cryptocurrency exchange, announced the availability of $100 million in recovery funds to assist initiatives experiencing liquidity challenges. At a time when the crypto market was continuing to sink due to the FTX crisis, Binance CEO “CZ” proposed a similar industry recovery fund. OKX, a cryptocurrency exchange,
November 15, 2022 1 min read
It was revealed on Sunday that Visa will no longer work with the defunct cryptocurrency exchange FTX. FTX-branded Visa debit cards will be discontinued, which was extended only last month. A Visa representative stated: “The situation with FTX is unfortunate and we are monitoring developments closely. We have terminated our
November 15, 2022 1 min read
After the demise of FTX, rumors of instability at Singapore’s Crypto.com exchange have increased. The value of its native currency, Cronos, has fallen as a result of this uncertainty. However, the company’s CEO has publicly addressed investor concerns. The CEO of Crypto.com, Kris Marszalek, participated in a live-streamed Ask Me
November 14, 2022 2 mins read
Celsius reported being exposed to FTX. On November 11, the business tweeted that it has FTX contracts locked up for 3.5 million SRM ($1.3 million). It also disclosed that the FTT token was collateral for $13 million in loans to Alameda Research that were not adequately backed. Celsius also said
November 12, 2022 1 min read
At least $1 billion in customer deposits have reportedly vanished from the defunct cryptocurrency exchange FTX, according to a report by the news agency Reuters. Two former high-ranking FTX employees who talked with Reuters have revealed some interesting details about the company. The sources informed that FTX founder and ex-CEO
November 12, 2022 1 min read
FTX has formally declared bankruptcy. Liquidity dried up, user funds were frozen, and competitor exchange Binance pulled up its non-binding deal to purchase FTX, sending the firm from a $32 billion value to insolvency in a matter of days. The processes are entirely optional for Alameda Research and the other
November 11, 2022 1 min read
In an interview with Bloomberg on Friday, Justin Sun, Tron’s founder, said his team is doing due diligence on a possible purchase of FTX. The primary reasons for the move include ending the FTX liquidity issue and demonstrating industry solidarity. To alleviate the present liquidity crisis, Justin Sun and Sam
November 11, 2022 1 min read
Japan’s Financial Services Agency (FSA) has reportedly ordered the local branch of FTX to shut down, according to a statement issued on Thursday. The decision states that effective immediately, FTX Japan is to discontinue all operations as a cryptocurrency exchange. Including the acceptance of new customers, and will not resume
November 10, 2022 1 min read
