At least $1 billion in customer deposits have reportedly vanished from the defunct cryptocurrency exchange FTX, according to a report by the news agency Reuters. Two former high-ranking FTX employees who talked with Reuters have revealed some interesting details about the company. The sources informed that FTX founder and ex-CEO
The demise of the FTX exchange is a big setback for the crypto industry. This fall may continue throughout the foreseeable future, experts say. On the other hand, a prominent Hedge fund has apparently revealed that a significant portion of its money is still trapped on the bankrupt FTX platform.
The FTX cryptocurrency exchange is seeing millions of funds disappear from user wallets. Nearly $600 million in unusual transactions were recorded in only a few hours, with some withdrawals including a shift from Tether to DAI. Moreover, the drainer is allegedly withdrawing StETH Solana, BNB, LINK, AVAX, MATIC, and other
Due to a severe lack of funds, cryptocurrency exchange FTX announced on Friday morning that it has filed for bankruptcy protection under Chapter 11. The previously $32 billion exchange suddenly collapsed due to a liquidity issue, and the company announced the resignation of former CEO and billionaire Sam Bankman-Fried. John
FTX has formally declared bankruptcy. Liquidity dried up, user funds were frozen, and competitor exchange Binance pulled up its non-binding deal to purchase FTX, sending the firm from a $32 billion value to insolvency in a matter of days. The processes are entirely optional for Alameda Research and the other
In an interview with Bloomberg on Friday, Justin Sun, Tron’s founder, said his team is doing due diligence on a possible purchase of FTX. The primary reasons for the move include ending the FTX liquidity issue and demonstrating industry solidarity. To alleviate the present liquidity crisis, Justin Sun and Sam
On Friday, FTX announced that ETH withdrawals will once again be available on the FTX US platform. In addition, customers who want to withdraw Polygon (MATIC) must cancel all outstanding withdrawals and submit a new withdrawal request as ERC20 MATIC. It was reported on Thursday by FTX CEO Sam Bankman-Fried
Miami-Dade, the county that signed the deal with the insolvency cryptocurrency exchange said in a statement that it was currently reviewing and seeking evidence about FTX’s financial status and possible next steps. In addition, last month only the FTX logo was added to the Miami arena. The country stated that
According to Binance CEO Changpeng Zhao, the president of El Salvador today reassured citizens that their country’s cryptocurrency assets were not on the failing exchange FTX. On Thursday, the CEO of the largest cryptocurrency exchange in the world tweeted that he had spoken to President Nayib Bukele, who had denied
CoinShares, a cryptocurrency investment, and trading group, has revealed that $30.3 million was exposed to the collapsing cryptocurrency exchange FTX. In a statement released on Thursday, CoinShares said that it has 190 Bitcoin and 1,000 Ethereum stored in FTX. With a total market value of around $4.3 million. The company
