Known cryptocurrency advocate Justin Sun recently revealed that he and several investors were looking into buying assets from Sam Bankman-Fried’s failed FTX company. “We are willing to negotiate any kind of a deal.” Mr. Sun said on Tuesday in Singapore to reporters that he thinks they should weigh all of
During the bankruptcy proceedings, the lawyer for FTX claimed that much of the company’s assets had been stolen or vanished. Unfortunately, the FTX debtors were not adequately governed, according to attorney Bromley. The attorney said the FTX case was “unprecedented” in his opening statement. He further claimed that Sam Bankman-Fried
New problems have arisen in the Bahamas, the former home of the collapsed crypto exchange FTX. After the ailing cryptocurrency exchange filed for bankruptcy on November 11. The Supreme Court of Bahamas issued an order in favor of the Securities Commission on November 21. The ruling required the exchange to
Crypto Exchange FTX has filed for bankruptcy in the United States, and CEO SamBankman-Fried has stepped down, following a liquidation issue at the cryptocurrency group that sparked action from regulators around the world. According to the records filed with the Delaware bankruptcy court, the exchange owes 3.1 billion to its
CEO and founder of Coinbase, Brian Armstrong, has spoken out about the cryptocurrency market’s current collapse. When asked about his feelings about the current crypto landscape, Coinbase’s CEO made it obvious that he is still positive despite the recent collapse of his competitor exchange, FTX. When asked about the former
The FTX outbreak is rapidly increasing in scope. As reported by crypto venture capital company Multicoin Capital to its investors on November 17th, the FTX crash has caused the fund to fall by a startling 55% over the previous month. Multicoin thinks it has a chance of getting its money
According to Nansen, a blockchain analytics business, there was never a clear separation between FTX and Alameda Research, and FTX’s plan to keep Alameda afloat began to unravel around the time TerraUSD crashed. Although it has been little over a week after the collapse of the interconnected companies, the failure
Operating as the third largest crypto exchange, FTX is now at zero level due to its highly-spoken liquidity crunch. Moreover, the collapse of FTX has shook the entire investors community and large users for investing in crypto markets. At present the whole crypto market is bearish with fall in prices
The bankruptcy hearings for FTX have the potential to turn complex, so regulators in the Bahamas want to take over. In New York bankruptcy court on Tuesday, the exchange’s Bahamian subsidiary FTX Digital Markets Ltd. filed for chapter 15. Legal counsel for the insolvency, Bahamas-based Brian Simms, said in the
Binance, the largest cryptocurrency exchange is being investigated by the US authorities. According to a senior House Republican, the United States Congress has decided to probe Binance, claiming its involvement in the demise of the FTX exchange. In accordance with this, Patrick McHenry, a U.S representative stated: This is serious.
