Organizations are continuing to dissociate themselves from the defunct FTX crypto exchange. The Sequoia Capital team made the decision to fully write down the value of its FTX assets exactly one week ago. FTX’s “liquidity crunch” and “solvency risk,” as stated by Sequoia in a letter to investors, prompted 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.
Liquid, a cryptocurrency exchange, said today that it will be suspending all withdrawals. The Liquid team has asked users to hold off on making deposits until further notice. The exchange tweeted: “Fiat and crypto withdrawals have been suspended on Liquid Global in compliance with the requirements of voluntary Chapter 11
Following the FTX led effect through the cryptocurrency ecosystem, crypto lending company SALT announced today that it is suspending withdrawals. SALT CEO Shawn Owen stated: “The collapse of FTX has impacted our business. Until we are able to determine the extent of this impact with specific details that we feel
Kenneth C. Griffin, the CEO of US-based hedge fund company Citadel LLC, has slammed the struggling cryptocurrency exchange FTX and its founder Sam Bankman-Fried. During a recent interview at the Bloomberg New Economy Forum, Citadel CEO termed FTX’s collapse as one of the biggest “travesties,” in the history of the
According to the official notice on Nov 14, the Bahamas Supreme Court has approved a partnership with PricewaterhouseCoopers, also known as PwC. Which provides clients with a variety of professional business services such as accounting, auditing, human resources consulting, and strategy management, as provisional liquidators to oversee the FTX assets.
The entire crypto industry is gossiping about everything related to Sam Bankman-Fried’s FTX. Also, the global crypto community and regulator bodies are constantly keeping a close eye on the bankrupt FTX and its trading company Alameda Research. In the aftermath of the crypto exchange collapse, the overall cryptocurrency market witnessed
BlockFi, a cryptocurrency lender, stated on Monday that it will “consider all possibilities” to reduce its “significant exposure” to FTX’s bankruptcy. After the biggest blowup in the cryptocurrency industry prompted calls for stricter regulation, FTX founder Bankman-Fried also resigned as CEO. BlockFi stated: We do have significant exposure to FTX
The financial behemoth JPMorgan shared insight into the complete scenario of the demise of the prominent cryptocurrency exchange FTX. JPMorgan stated that the centralized player is the cause of the recent crypto collapse. Also, the banking giant believes FTX’s failure might eventually make way for more strong regulations for cryptocurrencies.
The prying eyes of the crypto community and off-chain regulators are 24/7 on everything and everyone related to Sam Bankman-Fried’s FTX. Lately, the alleged involvement of wallets linked to Alameda Research, the sister company of the FTX, in initiating crypto transfers and SBF’s Twitter strategy raised high speculations. The recent
