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Search Results for: FTX

Solana Soars 10% as Optimism Grows Post-FTX

Solana (SOL) jumped nearly 10% in the past 24 hours, leading gains among top cryptocurrencies as investors regain confidence in the blockchain project once heavily backed by the now-disgraced Sam Bankman-Fried. SOL crossed above $63 on Wednesday, reaching prices not seen since last May. Trading volumes also spiked over 70%

November 15, 2023 2 mins read

Solana Price Faces Brief Correction as FTX Sell-off Looms

Solana’s surge has been exceedingly spectacular, with the price rising to unprecedented levels. Despite the recent brief correction, Solana (SOL) has made quite an impact, with a price increase of 140% in the last 30 days. While wallets linked to the defunct FTX exchange continue to trade millions of dollars

November 14, 2023 2 mins read

Defunct Crypto Exchange FTX Sues Bybit to Reclaim $953 Million

Crypto exchange FTX’s bankruptcy advisors have sued Bybit Fintech Ltd. to reclaim cash and digital assets valued at an astounding $953 million. According to FTX’s advisors, ByBit took all of the funds just before the company filed for Chapter 11 bankruptcy in November. The action was filed on Friday, November

November 11, 2023 2 mins read

FTT Token Soars 72% on SEC Chair’s Remark Over FTX Resurrection

FTT, the token of bankrupt crypto exchange FTX, soared over 72% after SEC head Gary Gensler’s statements signaling his openness to a resurrection of the exchange “within the law.” Gensler’s remarks come after rumors that three buyers are approaching FTX, including ex NYSE president Tom Farley’s crypto exchange Bullish. None

November 9, 2023 1 min read

SEC Chair Gary Gensler Roots for FTX Comeback

Securities and Exchange Commission (SEC) Chairman Gary Gensler has expressed a cautiously optimistic perspective regarding the potential revival of the defunct cryptocurrency exchange, FTX. Gensler’s remarks came during a discussion at DC Fintech Week, where he underlined that a reinvigorated FTX could succeed if its new leadership operates with a

November 9, 2023 2 mins read

Solana Maintains Strong Bullish Trend Despite Recent FTX Sell-off

As part of its bankruptcy procedures, the defunct crypto exchange FTX has been aggressively selling off some of its cryptocurrency holdings over the last several weeks. Lookonchain conducted an investigation of FTX transfers and found that more than half of all FTX transfers involved Solana (SOL). In preparation for a

November 8, 2023 2 mins read

FTX Requests Court Approval To Liquidate $744 Million in Trust Funds

The insolvent cryptocurrency exchange FTX petitioned in court last Friday, November 3, to sell off crucial Trust funds worth a total of $744 million. Some of the funds are held by custodial service provider Bitwise and cryptocurrency asset management Grayscale, as shown by the filing. One Bitwise trust is holding

November 6, 2023 1 min read

Solana Breaks Free of FTX Collapse to Surge From Its Low

Solana has shaken off the impact of fallen crypto exchange FTX’s bankruptcy to surge to its highest price of the year so far. After hitting a low of $18.25 in September, SOL has climbed over 70% to now trade above $41. Solana suffered disproportionately from FTX’s implosion last November, partly

November 2, 2023 1 min read

FTX and Alameda Research Transfer $27.2M Worth of Cryptocurrencies

On October 31st, defunct FTX and Alameda Research reportedly moved assets valued at $27.2 million, as shown by data presented by Lookonchain, a data analytics platform. The majority, $17.93M, was held in RNDR, followed by $4.7M in SOL, $2M in ETH, and $1.18M in MKR. More than $1.12 million worth

October 31, 2023 1 min read

FTX Reportedly Eyed Google and Blackrock Investments Before Collapse

In court documents presented on Thursday, it was revealed that FTX had approached BlackRock and Google about investing in the company when Sam Bankman-Fried’s (SBFs) cryptocurrency exchange was on the brink of collapse. Can Sun, FTX’s former general counsel, testified in federal court, where federal prosecutors presented a spreadsheet kept

October 21, 2023 1 min read