As a result of the crisis surrounding FTX, the cryptocurrency industry has been shaken to its core during the last two weeks. Both traders and organizations have been badly impacted since they have been confronted with monetary and/or operational challenges. As a leading cryptocurrency exchange, Bybit stated that it understands
The directors of Marvel’s “Avengers” franchise have been engaged by Amazon to create a mini-series on the demise of crypto exchange FTX. Film trade publication Variety reports that “Avengers: Infinity War” and “Avengers: Endgame” filmmakers Joe and Anthony Russo, as well as the directors of Netflix’s “The Gray Man,” will
Coinbase-backed cryptocurrency exchange CoinDCX collaborated with Nansen to provide proof-of-reserves on November 24. This coincided with a rise in the need for exchanges to disclose their business practices among crypto investors worldwide. The information offers an overview of CoinDCX’s overall financial position. Including its token and protocol distribution, asset value,
OKX, a cryptocurrency exchange, has made available a Proof of Reserves page, where customers may verify the sufficiency of the company’s funds. After the demise of FTX, crypto exchanges have been under more monitoring. OKX tweeted and updated its blog about the new page. Users may verify the exchange’s funds
In an interview published on Thursday by Bloomberg, Binance CEO Changpeng Zhao “CZ” addressed a wide range of topics. There will be some ripple effect, he predicts, from the FTX crypto exchange’s demise for some time. The CEO of Binance, Changpeng Zhao (CZ), predicted that the fall of FTX will
The Turkish Treasury and Finance Ministry said on Wednesday that an investigation into allegations of fraud against Sam Bankman-Fried, the former CEO of the cryptocurrency exchange FTX, had begun. To aid with their investigation, Turkish authorities have frozen the accounts of Bankman-Fried and its subsidiaries. The Minister of Treasury and
Coinbase CEO Brian Armstrong disclosed the company’s $39.9 billion Bitcoin holdings in a letter to shareholders. The letter was eventually made public following widespread market attempts to be transparent in the wake of the FTX crash. Using Twitter, Coinbase’s CEO announced the Bitcoin total and emphasized the company’s public status.
One of the most infamous cryptocurrency traders in the world, who boasted last month about pocketing over $100 million in a contentious price manipulation move, seems to have lost millions on a similar exploit effort that failed early Tuesday. On-chain information suggests that Avraham Eisenberg, the trader responsible for the
During the bankruptcy proceedings, the lawyer for FTX claimed that much of the company’s assets had been stolen or vanished. Unfortunately, the FTX debtors were not adequately governed, according to attorney Bromley. The attorney said the FTX case was “unprecedented” in his opening statement. He further claimed that Sam Bankman-Fried
New problems have arisen in the Bahamas, the former home of the collapsed crypto exchange FTX. After the ailing cryptocurrency exchange filed for bankruptcy on November 11. The Supreme Court of Bahamas issued an order in favor of the Securities Commission on November 21. The ruling required the exchange to
