FTX
FTX was a leading cryptocurrency exchange specializing in derivatives and leveraged products. Founded in 2018 by MIT graduate Sam Bankman-Fried, it was the world's third-largest exchange as of July 2021. FTX offered a wide range of trading products, including derivatives, options, and spot markets in over 300 cryptocurrency trading pairs. However, in November 2022, FTX filed for Chapter 11 bankruptcy protection, and Bankman-Fried resigned. The bankruptcy filing revealed $8 billion of liabilities and a valuation drop from $32 billion to worthless. Bankman-Fried was indicted on charges of fraud, conspiracy, and money laundering, facing up to 115 years in jail if convicted.
BlockFi Suspends Withdrawals Following FTX Crisis
Crypto lender BlockFi announced on Twitter that they have suspended withdrawals and normal business operations due to the lack of clarity around the current status of FTX.
Was the Secret Transfer of $4 Billion to Alameda, FTX's Undoing?
Reports have it that Sam Bankman-Fried funded Alameda Research with FTX customer deposits. Many believes this was the downfall of the firm
Binance Publishes Details of Holdings in its Hot Wallet
Binance has posted a snapshot of its hot wallet reserve to lead the exchange's transparency push
SEC Chair on FTX Collapse: Investors Need Better Protection
SEC Chair Gary Gensler says investors need more protection in the wake of FTX collapse
Hodlnaut Held Up to $13m on FTX Prior to Withdrawal Halt
Bankrupt crypto lending firm Hodlnaut may have $13M locked in FTX
Crypto Prime Broker Hidden Road Partners Urges Clients to Liquidate FTX Positions
Cryptocurrency prime broker Hidden Road Partners is expected to complete the liquidation of its FTX.com holdings tonight, according to Bloomberg.
Proof-of-Reserves Becomes a Burning Issue amid FTX Crisis
With the liquidity issue being a primary contributor to the FTX crisis, the proof-of-reserves concept has engulfed the crypto sector with more exchanges gearing towards showing more transparency.
Sequoia Capital's $213.5m Investments in FTX Marks Down to $0
Amid the liquidity crisis in FTX, Sequoia Capital announced to mark down its FTX investment to $0.
Binance Bails Out From FTX Takeover Deal
Binance on Twitter announced the crypto exchange has ended the acquisition plan because, among other reasons, FTX has mishandled customer funds.
Billions of Dollars Exit Exchanges as Investors Scuttle Towards Safety
Investors are withdrawing their funds from exchanges amid the FTX implosion
Crypto Market Cap Slumps Below $900B for the First Time Since Jan 2021
The downfall of FTX has stirred a slump in the combined crypto market cap below $900B
No Significant Risk Exposure to FTX or FTT, Says Coinbase CEO
Coinbase CEO Brian Armstrong tweeted that Coinbase has no significant exposure to FTX and its platform currency FTT, as well as Alameda's exposure.
FTX's Fall Might Hurt CEO's Crypto Regulation Lobby
The mid-term election in the US is playing a role in influencing and reshaping the regulatory landscape of the crypto industry amid the turmoil brought about by the collapse of the crypto exchange FTX.
FTX Downfall Leaves Crypto Market in FUD Sentiment
FTX native token FTT has fallen 71.6%, CoinGecko showed, and the firm's net crypto asset holdings have plunged 83% in just the past two days, making SBF's total assets lose an estimated $14.6 billion – nearly 94% of his total wealth.
SBF Denies Insolvency Rumours of FTX, FTT Token Slumps Over 6% during Intraday
FTX CEO Sam Bankman-Fried retreated his crypto exchange and assets are fine, trying to boost confidence to his investors, as speculation mounted over the weekend about the solvency of the exchange.