FTX owes over $3 billion to its 50 biggest creditors: Bankruptcy filing
Not much is known about who these creditors could be, as names and personal information were redacted from the published document. Go to Source Powered by WPeMatico
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Washington Post, Forbes, Wall Street Journal Slammed for ‘Puff Piece’ Reports on FTX and Alameda Execs
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
FTX fiasco means consequences for crypto out of Washington DC
Congress should avoid engaging in a moral panic and instead produce legislation that produces clarity for the cryptocurrency industry. Go to Source Powered by WPeMatico
FTX funds on the move as thief converts thousands of ETH into Bitcoin
According to Chainalysis, “Reports that the funds stolen from FTX were actually sent to the Securities Commission of The Bahamas are incorrect.” Go to Source Powered by WPeMatico
$333 Million in Bitcoin Vanished from FTX Days Before the Company Filed for Bankruptcy Protection
While it’s widely reported that hundreds of millions of dollars in Ethereum-based tokens were siphoned from the FTX wallet after the company filed for bankruptcy on Nov. 11, 2022, another $333 million worth of FTX-related bitcoins somehow vanished as well. At one point, FTX held $3.3 billion worth of bitcoins during its heyday, but by … Read more
‘FTX Accounts Drainer’ Offloads 50,000 ETH, Entity Uses Ren’s Bitcoin Gateway to Acquire BTC
The ethereum wallet known as the “FTX Accounts Drainer” has started to offload the ethereum it collected this past week after becoming the 27th largest ether address. On Nov. 19, 2022, the wallet held 250,735 ether, but by 7:44 a.m. (ET) on Nov. 20, the “FTX Accounts Drainer” transferred roughly 50,000 ether out of the … Read more
Bankman-Fried’s Private Jet Causes Buzz, Kraken CEO Addresses FTX Collapse, More Sleeping Bitcoins Wake Up — Week in Review
With the colossal collapse of crypto exchange FTX in recent weeks, excitement in the world of cryptocurrency and finance has been in no short supply. Former FTX CEO Sam Bankman-Fried’s private jet was reportedly spotted heading to Argentina, Kraken’s CEO has addressed the fallout of the Alameda/FTX saga, saying that “The damage here is huge,” … Read more
Former US Regulator Likens FTX and Sam Bankman-Fried to Bernie Madoff and His Ponzi Scheme
Former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair likens the fall of crypto exchange FTX and its former CEO Sam Bankman-Fried to the infamous Ponzi Scheme of Bernie Madoff. “It felt very Bernie Madoff-like in that way,” she said. Former FDIC Chair Compares FTX and Sam Bankman-Fried to Bernie Madoff’s Ponzi Scheme Sheila Bair, … Read more
Bankrupt crypto exchange FTX begins strategic review of global assets
FTX debtors are in talks with finserv firm Perella Weinberg Partners for various sale or reorganization attempts. However, the engagement of PWP is subject to the bankruptcy court’s approval. Go to Source Powered by WPeMatico
Ripple CEO Optimistic Crypto Industry Will Be Stronger After FTX Fiasco if Transparency and Trust Remain Its Focus
The CEO of Ripple Labs, Brad Garlinghouse, believes that the crypto industry will come out stronger after the FTX meltdown if transparency and trust remain its key focus. He stressed the importance of having “honest conversations about solving real-world problems with crypto and blockchain.” Ripple’s CEO Optimistic About Crypto’s Recovery After FTX Meltdown The CEO … Read more