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Alameda Research reportedly withdrew the most funds from FTX US, the U.S. arm of FTX, days before the crypto exchange filed for bankruptcy. The majority of the withdrawn cryptocurrencies were sent to wallets owned by FTX International, “suggesting that Alameda may have been operating to bridge between the two entities,” crypto intelligence firm Arkham said. … Read more
On Tuesday, the attorneys representing FTX told the court that a “substantial amount of assets have either been stolen or are missing” and further stressed to the bankruptcy court that FTX executives left the lawyers James Bromley and Sullivan Cromwell with limited information. Bromley further likened the former FTX CEO Sam Bankman-Fried’s (SBF) crypto empire … Read more
Following the highly criticized New York Times article that features commentary from the former CEO of FTX, Sam Bankman-Fried (SBF), the public continues to give the mainstream media flak for publishing “puff pieces” about SBF and the Alameda Research executive Caroline Ellison. A number of articles have been called out for being too lenient on … Read more
In the past 48-hours Bitcoin traders added to their leveraged long positions even as crypto critics and politicians ramp up their criticism of cryptocurrencies. Go to Source Powered by WPeMatico
An analysis of the FTX and Alameda Research collapse has been published by the blockchain and crypto analytics firm Nansen and the report notes that the Terra stablecoin collapse, and the liquidity crunch that ensued, likely started the domino effect that led to the company’s implosion. The study from Nansen further details that “FTX and … Read more
The FTX fiasco is nothing new for Bitcoin as it survived multiple exchange collapses, bear markets and even outright bans in its decade-plus existence. Go to Source Powered by WPeMatico
Amid the latest bankruptcy case filed by FTX Trading Ltd., U.S. regulators want to crack down on crypto exchanges, and a class action lawsuit has been issued against former FTX CEO Sam Bankman-Fried (SBF) and 12 celebrities. However, this is not FTX’s and Alameda Research’s first rodeo with the U.S. court system and financial investigations. … Read more
Following the former FTX CEO Sam Bankman-Fried’s (SBF) interview with the New York Times and several direct text messages with Reuters, SBF recently did a much longer and more candid interview with Vox journalist Kelsey Piper. After the interview done via Twitter direct messages, the current FTX chief restructuring officer and CEO John Ray explained … Read more
A fresh bankruptcy filing from FTX chief restructuring officer John Ray III highlights that Sam Bankman-Fried received $4 billion in loans from FTX-related silo companies. Go to Source Powered by WPeMatico
Nestcoin, a Nigerian Web3 startup which got an investment from Alameda Research in 2021, revealed on Nov. 14 that it had “a significant proportion of stablecoin investment” stuck at FTX. According to the startup’s CEO, laying off some employees allows the company to focus on building a more decentralized crypto future. Using FTX as Custodian … Read more