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Genesis Trading, the market maker and lending arm of Digital Currency Group, disclosed that its derivatives division had over $175 million funds stored in an FTX trading account. Also, the trading company confirmed that it has no ongoing business ties with FTX or Alameda Research, the cryptocurrency trading company run
According to a press release on Thursday, Bahamian officials have frozen the assets of FTX Digital Markets and linked parties as a “prudent course of action” to preserve assets and stabilize the company. Brian Sims, a senior partner at Lennox Paton, was chosen by the Securities Commission of the Bahamas
BlockFi, one of the leading crypto lending firms has declared withdrawal halting “as per their terms”. The clients are furthermore restricted from depositing in BlockFi wallets and interest accounts. pic.twitter.com/zNF1uP6evl — BlockFi (@BlockFi) November 11, 2022 FTX’s financial struggle is snowballing along with its international counterparts. The bad effect of
With the FIFA 2022 World cup to begin in just a few days down the countdown, the International soccer association takes quite some radical decisions. Accordingly, FIFA has broken up with Electronic Arts (EA), after their long tenure relationship of more than 30 years. The news has taken to surprise
Customers of the cryptocurrency exchange Crypto.com were informed today via an email that all deposits and withdrawals for the USDT and USDC tokens from Circle and Tether have been halted on the Solana network. Though the email said that the freeze would take place immediately, it did not specify why
The Sam Backman Fried exchange FTX is under regulatory scrutiny in the US as a consequence of Binance’s withdrawal from the acquisition of FTX. The United States Securities and Exchange Commission is investigating into cryptocurrency exchange. The Commodity Futures Trading Commission (CFTC), according to Bloomberg, is also probing the cryptocurrency
Binance, the top cryptocurrency exchange in the world, declared on Wednesday that it will not proceed with the acquisition of FTX. As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will
Though a big hot flash news, yet not a one to be surprised of, is what comes into mind when Elon Musk is behind the wheels as the driver. Ofcourse, the news leaks obviously took both the social media platform Twitter, and the crypto industry sky rocketing up with the
World’s one of the most prominent cryptocurrency exchanges FTX CEO Sam Bankman-Fried’s total net worth fell by nearly 94% to $991.5 million in a single day. Also, he has disappeared from the Bloomberg Billionaires Index. Prior to FTX financial crisis, SBF’s personal wealth was estimated to be $15.2 billion, as
Binance CEO Changpeng Zhao confirmed the largest exchange’s move to “fully acquire” its rival FTX on Twitter on Tuesday, putting an end to all the speculations. Binance signing a non-binding letter of intent (LOI) with FTX.com marked the initiation of the bailout. This afternoon, FTX asked for our help. There
