Tagged: ftx

November 23, 2022 @ 9:22 am By JD Alois  |  

Sam Bankman-Fried, the disgraced former CEO and founder of FTX, has been spending recent days apologizing for his mismanagement of the firm on Twitter. Yesterday, an apparent email distributed by Bankman-Fried was shared on the internet, credited to Coindesk. In the email, Bankman-Fried apologized once… Read More

November 22, 2022 @ 4:12 pm By JD Alois  |  

Sequoia, one of the most prominent VC firms in the world, has apologized to its backers for the investment they made in FTX. As was previously reported, once the wheels fell off of FTX, Sequoia wrote its investment down to zero – a potential $150… Read More

November 22, 2022 @ 9:05 am By JD Alois  |  

Democrat members of the Senate Banking Committee have sent a letter to SoFi (NASDAQ:SOFI) inquiring about its activities in regard to digital asset trading. At the same time, the Senators have forwarded a letter to three bank regulators, the Office of the Comptroller of the… Read More

November 21, 2022 @ 10:06 pm By JD Alois  |  

Genesis, a crypto firm providing services to institutions, is being hit with bankruptcy rumors following the news it had suspended redemptions due to exposure to the FTX failure. Genesis is part of the Digital Currency Group – one of the most prominent conglomerates in the digital… Read More

November 21, 2022 @ 6:12 pm By JD Alois  |  

SoFi (NYSE:SOFI) is the latest Fintech – crypto-related firm to give the all-clear sign regarding the crypto contagion created by Sam Bankman-Fried and the bankruptcy of FTX. In a series of Tweets, SoFi stated: “We have no direct exposure to FTX, FTT token, Alameda Research,… Read More

November 21, 2022 @ 4:46 pm By JD Alois  |  

Grayscale, part of the Digital Currency Group (DCG), published a blog post in recent days telling users that “all digital assets are safe and secure.” Grayscale is the issuer of multiple digital asset-based funds like the Grayscale Bitcoin Trust (OTCQX:GBTC), which is traded on OTC… Read More

November 21, 2022 @ 11:34 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has issued a statement addressing the bankruptcy of FTX, saying it would like to address some questions and “misconceptions.” Singapore is recognized as the top Fintech hub in Asia and is generally viewed as digital asset friendly. That being… Read More

November 20, 2022 @ 7:01 pm By JD Alois  |  

FTX Trading and the over 100 affiliated entities posted a release yesterday updating on the bankruptcy process. FTX filed for bankruptcy on November 11th following a run on the bank where the company was unable to fulfill redemption requests. It has been widely reported that… Read More

November 17, 2022 @ 7:31 pm By JD Alois  |  

Today, the Securities Commission of the Bahamas issued a statement that it has transferred all assets held by FTX Digital Markets Ltd., to a wallet controlled by the regulator. The Securities Commission said it took control of the assets under its powers as a regulator… Read More

November 17, 2022 @ 9:23 am By JD Alois  |  

New FTX CEO John J. Ray has filed a declaration in support of Chapter 11 proceedings, completely slamming the utter incompetence of management in what was once the second-largest crypto exchange in the world. To quote the filing: “Never in my career have I seen… Read More

November 16, 2022 @ 4:38 pm By JD Alois  |  

Sam Bankman-Fried, the disgraced founder and former CEO of FTX, continues to prostrate himself on social media – admitting he has made a huge mess of things. Bankman-Fried, while expressing his contrition, continues to believe he may be able to re-animate the collapsed firm. New… Read More

November 16, 2022 @ 3:57 pm By JD Alois  |  

Crypto trading platform Gemini has halted its Earn program following the announcement that Genesis had halted redemptions. Gemini Earn most recently promoted an 8.5% return for investors The collapse of FTX and its collateral damage continues to impact other crypto trading platforms due to counterparty… Read More

November 16, 2022 @ 11:01 am By JD Alois  |  

TSM, an esport firm, has halted its partnership with bankrupt crypto exchange FTX. In a brief statement from company representatives, TSM explained: “After monitoring the evolving situation and discussing internally, TSM is suspending our partnership with FTX effective immediately. This means that FTX branding will… Read More

November 16, 2022 @ 10:52 am By JD Alois  |  

The House Committee on Financial Services has announced a hearing on the failure of FTX and its affiliated entities. The announcement was bipartisan in nature as the current Chair of the Committee, Maxine Waters, was joined by Ranking Member Patrick McHenry in announcing the hearing… Read More

November 16, 2022 @ 9:50 am By JD Alois  |  

Genesis, an institutional-focused digital asset platform, has posted a series of Tweets revealing a strained platform following the collapse of FTX this past week. Genesis is part of the Digital Currency Group – one of the most prominent entities in the digital asset world. Genesis… Read More

November 15, 2022 @ 6:27 pm By JD Alois  |  

Money that fled FTX is looking for a place to land. But FTX is not necessarily the only platform that is losing crypto assets, at least according to a Tweet thread from Nansen. We are seeing more deposits than withdrawals to these exchanges in the… Read More

November 15, 2022 @ 6:04 pm By JD Alois  |  

BlockFi is preparing to file for bankruptcy, according to multiple reports, first revealed by WSJ.com. BlockFi is a trading, lending, and yield platform that has previously announced it had significant exposure to FTX. On November 11th, FTX announced that it was filing for Chapter 11,… Read More

November 15, 2022 @ 9:48 am By JD Alois  |  

Before the collapse of FTX, founder Sam Bankman-Fried frantically attempted to cut a deal with Binance and worked the phones to raise more capital. Bankman-Fried quickly went from everything is fine, to we need a lot of money to keep things going. In the end,… Read More

November 15, 2022 @ 9:19 am By JD Alois  |  

An initial filing pertaining to the Chapter 11 filing for FTX and affiliated firms has surfaced today. Filed yesterday by new leadership at FTX to manage the bankruptcy proceedings, the document notes there are over 100,000 creditors with claims – a number that can balloon… Read More

November 14, 2022 @ 9:45 pm By JD Alois  |  

BTC Markets CEO Caroline Bowler has distributed a public statement on the FTX bankruptcy and its impact on the overall digital asset industry. BTC Markets is an Australian exchange that says it has set the industry standard for compliance in Australia. Last month, it announced… Read More