Crypto Exchange FTX has filed for bankruptcy in the United States, and CEO SamBankman-Fried has stepped down, following a liquidation issue at the cryptocurrency group that sparked action from regulators around the world. According to the records filed with the Delaware bankruptcy court, the exchange owes 3.1 billion to its
Sam Bankman-Fried, the former CEO of the bankrupt cryptocurrency exchange FTX is shedding the firm’s support as he impeding bankruptcy efforts through “incessant and disruptive tweeting.” Paul Weiss, the legal attorney for FTX, announced on Friday that it had stopped defending Bankman-Fried, who is facing high regulatory difficulties related to
When the world learned about the deception Sam Bankman-Fried (SBF) committed to creating his FTX empire, business associates, investors, and ardent supporters agreed that the crypto ecosystem had suffered. On the other hand, mainstream media, which had previously used unfavorable speculative attacks to attack crypto, now appears to be siding
The prying eyes of the crypto community and off-chain regulators are 24/7 on everything and everyone related to Sam Bankman-Fried’s FTX. Lately, the alleged involvement of wallets linked to Alameda Research, the sister company of the FTX, in initiating crypto transfers and SBF’s Twitter strategy raised high speculations. The recent
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
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
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 exchange plans to create stablecoin. FTX Token traded at $24.55 with a price surge of over 8% in the previous week. FTX one of the prominent cryptocurrency exchange CEO Sam Bankman-Fried stated, in a recent interview that the company is presently working to create a stablecoin. Stablecoin is known
