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A Citi analyst has warned of a serious risk of broader contagion to the crypto ecosystem stemming from the collapse of crypto exchange FTX, noting that the contagion “can last for a significant amount of time.” He added that the crypto industry seems to have “no significant lender of last resort.” Citi’s Analyst Warns of … Read more
Galois Capital, New Huo Technology, and Nestcoin are just some of the crypto firms with funds stuck on FTX as the exchange undertakes bankruptcy filings in the United States. Go to Source Powered by WPeMatico
Lawmakers, regulators and even the institutional media don’t seem to have much interest in faulting SBF for using customer money to trade under the table. Go to Source Powered by WPeMatico
On Nov. 14, the New York Times (NYT) published a massive 2,200-word expose and interview with the former CEO of FTX, Sam Bankman-Fried (SBF), and the article was criticized a great deal after it was published. The article noted that SBF would only offer “limited details about the central questions swirling around him,” and most … Read more
The disgraced banker of last resort has been displaying odd behavior on Twitter, leading to speculation about his intentions and mental condition. Go to Source Powered by WPeMatico
Three days ago, on Nov. 11, 2022, it was reported that FTX’s wallets saw unusual activities and FTX Telegram channel admins stressed that FTX was “hacked.” The same day, the new FTX CEO John Ray confirmed there were “unauthorized transactions.” A report by the blockchain intelligence firm Elliptic explains that out of “more than $663 … Read more
News of BlockFi’s potential bankruptcy filing comes only a day after the platform denied allegations that the majority of its assets were held on FTX. Go to Source Powered by WPeMatico
On Nov. 15, 2022, the crypto exchange Liquid Global revealed that it has suspended fiat and crypto withdrawals “until further notice.” The same day, customers leveraging the crypto lending platform Salt were also informed that Salt has paused withdrawals and deposits. Furthermore, the crypto lender Blockfi is reportedly in the process of filing for Chapter … Read more
On Nov. 14, 2022, the Securities Commission of the Bahamas (SCB) published a press release that explains the ‘Big Four’ accounting firm PWC (Pricewaterhousecoopers) has been designated as provisional liquidator in the FTX investigation. The SCB detailed that “given the magnitude” of the events surrounding FTX, the Bahamas regulator recognized that it had to “move … Read more
The Securities Commission of the Bahamas said it had to act “given the magnitude, urgency, and international implications of the unfolding events with regard to FTX.” Go to Source Powered by WPeMatico
