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
More than one possible savior has backed out as the cryptocurrency exchange FTX struggles to plug a multi-billion dollar hole in its financial sheet. After Binance, Tether’s CTO Paolo Ardoino said on November 10 that the business has “any plans to invest or lend money to FTX/Alameda.” Tether does not
The current critical crisis of FTX crypto exchange is creating a significant impact on the whole crypto market. It is becoming the hottest story in the town, affecting large users and the investors. In addition, prices fell dramatically for all the cryptocurrencies. As the situation worsens day by day, the
Genesis Trading, the market maker and lending arm of Digital Currency Group, disclosed that its derivatives division had over $175 million funds stored in an FTX trading account. Also, the trading company confirmed that it has no ongoing business ties with FTX or Alameda Research, the cryptocurrency trading company run
According to a press release on Thursday, Bahamian officials have frozen the assets of FTX Digital Markets and linked parties as a “prudent course of action” to preserve assets and stabilize the company. Brian Sims, a senior partner at Lennox Paton, was chosen by the Securities Commission of the Bahamas
