Ever since the fight between FTX and Binance, things have been taking a quite different approach throughout the entire crypto industry. With the onset of the rivalry between CZ and Sam, both being the CEOs of top crypto exchanges, indeed affected the entire global crypto industry on many terms. Though
According to Binance CEO Changpeng Zhao, the president of El Salvador today reassured citizens that their country’s cryptocurrency assets were not on the failing exchange FTX. On Thursday, the CEO of the largest cryptocurrency exchange in the world tweeted that he had spoken to President Nayib Bukele, who had denied
CoinShares, a cryptocurrency investment, and trading group, has revealed that $30.3 million was exposed to the collapsing cryptocurrency exchange FTX. In a statement released on Thursday, CoinShares said that it has 190 Bitcoin and 1,000 Ethereum stored in FTX. With a total market value of around $4.3 million. The company
According to a Reuter’s report, when Alameda Research suffered a string of losses in its operations, FTX continued to assist the company using consumer monies. The loss of a $500 million loan agreement with the now-defunct crypto lender Voyager Digital was one of the biggest. The American branch of FTX
As the recent talk of the town, FTX crypto exchange is spreading globally, thereby causing a crash for the entire crypto market. In just this week, the crypto market has lost almost 20% of its market cap, which is around $200B. In light of the ongoing crisis, a crypto strategist
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
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
FTX won the acquisition against Binance and CrossTower. The bid from FTX US is valued at roughly $1.422 billion. The major cryptocurrency exchange FTX, founded by billionaire Sam Bankman-Fried won the bid to buy the assets held by insolvent company Voyager Digital. After multiple rounds of bidding in an intensely
FTX bailed out Voyager Digital by extending a kind of two-piece line of credit. FTX acquired Canadian exchange Bitvo in June. Sam Bankman-Fried, CEO of crypto derivatives exchange FTX, said on CNBC’s Squawk Box that the company has at least $1 billion available to be used for mergers, acquisitions, and
FTX had $2.5 billion in cash and a 27% profit margin at the end of 2021. According to reports, FTX generated $270 million in Q1 2022. When Bitcoin (BTC) and other cryptocurrencies reached record highs in 2021, FTX was one of the several crypto exchanges that witnessed the entire phase.
