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
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
Ethereum (ETH) continues to tread a delicate path, facing resistance as it attempts to break free from a descending trendline that’s been in place since April, when it reached its yearly high of $2,141. After dipping to a low of $1,536 on October 13, ETH made a rebound, surging to
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
In a nod to the Uptober tradition, Solana (SOL) has witnessed a substantial resurgence, with its price making a notable rebound from the $26 threshold. Today, SOL has soared by an additional 7%, hitting a three-month high at $28.13. This significant performance continues to set Solana apart from the rest
In a series of shocking revelations during the ongoing FTX trial, former FTX Engineering Director Nishad Singh testified in a New York courtroom on October 16. He revealed that former CEO Sam Bankman-Fried had a history of making unilateral decisions regarding purchases made through Alameda Research, a cryptocurrency trading firm,
In November 2022, the crypto world witnessed a shattering chapter in its history with the collapse of FTX, a once-prominent crypto exchange. What initially appeared as a mere accounting oversight soon unveiled itself as a massive fraud, resulting in the loss of billions of dollars for customers and investors. Shockingly,
On Tuesday, October 10, Caroline Ellison, formerly of the hedge fund Alameda Research and an intermittent business associate of Sam Bankman Fried (SBF), is scheduled to testify against him in his impending fraud trial. SBF is accused of engaging in high-risk trading practices and misappropriating client monies from FTX. After
CertiK has recently identified new behavior associated with the infamous FTX hacker. In this case, CertiK Alert detected a large bridge transaction involving 5,624 ether and Bitcoin. Moreover, the hacker transferred 7,500 Ether and 9,375 Ether to EOA. Around 15,000 ETH were discovered to have been converted to BTC by
The spectacular fall of FTX last year shook the crypto world to its core, destroying a good amount of the remaining trust that investors had in the top centralized exchange platforms. Trust in CEX platforms had already been eroded by similar collapses at Three Arrows Capital and Celsius, and the
