The current scandal over Sam Bankman Fried’s crypto exchange FTX and his trading company Alameda Research resulted in a significant loss on Solana’s SOL token. The worst-case scenario is SBF’s Alameda Research holding a significant amount of Solana tokens. The so-called Ethereum killer Solana (SOL) which supports the rapid layer-1
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
The CEO of Binance, Changpeng “CZ” Zhao, announced that his exchange would soon launch a Proof-of-Reserves audit mechanism to enable verification of its holdings of digital assets in the wake of the liquidity issue and the acquisition of cryptocurrency exchange FTX. All crypto exchanges should do merkle-tree proof-of-reserves. Banks run
Following recent developments, Binance CEO Changpeng Zhao declared over the weekend that the exchange will sell off all of its FTT holdings. After the announcement, the price of FTT dropped dramatically, losing about 10% of its value in a single day. Before the crypto community had time to process what
As the digital asset market continues to grapple with the scandal surrounding trading firm Alameda Research’s balance sheet, traders in Asia rose to a market that was partially in the red. As a result of a public dispute between Binance CEO Changpeng CZ Zhao and Alameda CEO Caroline Ellison over
Binance CEO Changpeng Zhao also known as CZ announced his decision to sell all FTT tokens. FTT is a native currency of the most prominent crypto exchange FTX. Binance is world’s largest cryptocurrency exchange by daily trading volume and it holds around 23 million FTX tokens, valued at about $517
FTX is third only to a George Soros-owned corporation and a firm called Uline. The efforts may pay off in the form of improved regulation for the cryptocurrency industry. Sam Bankman-Fried, a crypto billionaire, is one of the biggest contributors to the 2022 U.S. midterm elections. It has been shown
Despite the bear market, crypto adoptions are widely spreading across all areas around the world. In that case, in order to retain and keep its users engaging, FTX – an institutional crypto exchange has brought up an update. It is now accessible for all FTX users to send crypto’s via
Sam Bankman-Fried, expressed early interest in making an investment. Musk and FTX CEO Sam Bankman-Fried had a short text conversation in April. An agreement for Elon Musk, the wealthiest man in the world, to purchase Twitter was finalized on Friday, October 28. Since then, a lot has taken place, with
