FTX

 

Description
FTX is a cryptocurrency exchange built by traders, for traders.

FTX’s leveraged tokens provide a clean, automated way for users to get leverage. The BULL and BEAR tokens automatically manage their exposure, rebalancing daily to maintain their target leverage and prevent liquidations.


FTX Founder Allegedly Sought Federal Regulation Before Collapse
FTX founder Sam Bankman-Fried allegedly sought federal regulation for the crypto exchange before its collapse and his resignation as CEO. A leaked email exchange with a top regulator showed Bankman-Fried's intent to meet with the Federal Deposit Insurance Corporation chairman in June 2022.
FTX Continues to Move Funds Amid Ongoing Investigations
Addresses associated with FTX and its subsidiary, Alameda Research, have reportedly transferred $145 million in stablecoins to various platforms, as the cryptocurrency exchange faces demands to return funds to different groups of investors amid ongoing investigations and lawsuits.
US proposes new bail conditions for former FTX CEO
The US Department of Justice has proposed new bail conditions for former FTX CEO Sam Bankman-Fried, which include communication restrictions and monitoring of his online activity. The proposal also requests that temporary bail conditions recently imposed should be made permanent. Bankman-Fried's $250 million bail has been under scrutiny since he was found to have contacted potential witnesses on his case, and a superseding indictment against him was unsealed containing 12 criminal counts.
Binance CEO Responds to Forbes Article on Fund Shuffling
Binance CEO Changpeng Zhao responded to a Forbes article that focused on the movement of funds by the cryptocurrency exchange. The article drew parallels between Binance and the now-defunct FTX and discussed the failed Voyager bid by Binance.US, as well as the United States Securities and Exchange Commission’s planned legal action against Paxos Trust Company, the issuer of the Binance-branded stablecoin, Binance USD (BUSD). Binance transferred $1.8 billion in stablecoin collateral to hedge funds such as Tron, Amber Group and Alameda Research between August and December 2022. Binance says it still supports BUSD and is now looking into non-USD stablecoins.
FTX Japan Users Withdraw Funds Amidst Legal Battle
FTX Japan users have begun withdrawing all their funds after the slowdown in fund withdrawals due to Binance liquidating its FTX Token (FTT) holdings. While FTX Japan resumed withdrawals on Feb. 21, the legal battle with Sam Bankman-Fried (SBF) continues.
Lawyers for SBF time to discuss additional bail conditions
Sam Bankman-lawyers Fried's requested extra time to negotiate bail terms and identify a technical expert.
FTX Japan users withdraw funds amid litigation
Due to the large number of FTX-SBF victims, payment is projected to take time.
FTX Japan Loses Thousands of Users After Resuming Withdrawals
Over 7,026 FTX Japan members have transferred $50 million in crypto and cash to Liquid.
US Congress needs to take control of crypto legislation
Blockchain Association CEO Kristin Smith said crypto regulation is occurring "behind closed doors" and asked for a more collaborative and "transparent approach."
The Bank for International Settlements
Industry executives and authorities have raised worries about crypto market structure after the 2022 meltdown.

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