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On Nov. 9, 2022, a day after the news broke regarding Binance planning to purchase the exchange FTX, the crypto economy dropped 11.17% in 24 hours. The crypto economy has slid under $900 billion for the first time since January 2021. The Binance and FTX news has come as a shock to a lot of … Read more
Cryptocurrencies exposed to Sam Bankman-Fried and his companies, Alameda Research and FTX, have dropped by an average of 40% this week. Go to Source Powered by WPeMatico
According to on-chain data, FTT token supply increased by 124.3% on September 8 when 173 million FTT tokens were created by a 2019 ICO contract, and Alameda was the recipient. Go to Source Powered by WPeMatico
Binance CEO CZ took to Twitter to assure users that the crypto exchange’s insurance funds have been topped off at $1 billion as the debacle with FTX rages on. Go to Source Powered by WPeMatico
Market manipulation, lending activity, and safeguarding of customer funds and assets are some of the many issues Senator Lummis plans to address in the coming days. Go to Source Powered by WPeMatico
Sam Bankman-Fried has deleted a Twitter thread where he tried to assure customers that FTX and the assets on the platform were “fine.” Go to Source Powered by WPeMatico
Sam Bankman-Fried no longer ranks in the top 500 on Bloomberg’s billionaire index, but CZ remains at rank 87. Go to Source Powered by WPeMatico
The call for a more detailed disclosure of liquidity through the use of “Proof-of-Reserves” has been backed by many high-profile industry figures. Go to Source Powered by WPeMatico
According to a report shared by an FTX staff member, prior to Binance announcing it would acquire the exchange, CEO Sam Bankman-Fried explained that in 72 hours FTX saw roughly $6 billion in withdrawals. Furthermore, the staff member’s account notes that withdrawals on the exchange FTX.com were “effectively paused.” Report Claims FTX CEO Said Exchange … Read more
Binance’s decision to liquidate 23 million FTT tokens triggered FTX’s liquidity crisis. Go to Source Powered by WPeMatico