A new report by the Wall Street Journal claimed that the disgraced founder and former CEO of FTX took over 70% of the funds gathered from a funding round in October last year.

Former stockbroker, commonly known as the “Wolf of Wall Street,” Jordan Belfort, has shared his opinion on the collapse of the FTX crypto exchange and the role played by its founder Sam Bankman-Fried. 

Sam Bankman-Fried, the former CEO of FTX, will no longer be represented by his attorney at Paul, Weiss, Rifkind, Wharton & Garrison, the white-shoe law firm. Notably, this will be a big blow to the former FTX CEO as less than a week after hiring an attorney dropped SBF as a client.

In his attempt to help shed light on how the Sam Bankman-Fried-owned company operated and proceeded with its dealings, new FTX CEO John Ray submitted a 30-page document to the United States Bankruptcy Court for the District of Delaware.

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On 15 November 2022, O’Leary had an interview on YouTube series Crypto Banter.

“FTX’s customers, former employees, and the public deserve answers,” Raja Krishnamoorthi, Chairman of the Subcommittee on Economic and Consumer Policy wrote in a Nov. 18 <a href="https://oversight.house.gov/news/press-releases/chairman-krishnamoorthi-presses-ftx-leadership-for-answers-on-company-s-collapse" target="_blank">letter</a> addressed to both former FTX CEO Sam Bankman-Fried and the exchange's current CEO John J. Ray III, who took over in the wake of FTX’s bankruptcy filings.&nbsp; The former and current FTX bosses were reminded to submit documentation as part of an Aug. 30&nbsp;<a href="https://oversight.house.gov/sites/democrats.oversight.house.gov/files/2022-08-30.RK%20to%20Bankman-Fried-FTX%20re%20Crypto%20Fraud.pdf" target="_blank">request</a>&nbsp;to Bankman-Fried asking for information regarding the steps FTX is taking to combat fraud and scams.&nbsp;&nbsp;

FTX, the cryptocurrency exchange launched by&nbsp;Sam Bankman-Fried, said it fired three of the founder’s top deputies.

Cryptocurrency investment product provider Grayscale Investments has refused to provide on-chain proof of reserves or wallet addresses to show the underlying assets of its digital currency products citing “security concerns.”

Bitstamp is set to disable new orders and cancel existing orders for all FTT and CEL trading pairs, it <a href="https://www.bitstamp.net/faq/trading-of-ftt-and-cel-halted/" target="_blank">announced</a> on Friday.

The Solana Foundation, a non-profit organization that supports the development of the Solana blockchain, also acknowledged having $1 million in cash or other equivalent assets that were trapped on FTX.

Former FTX CEO Sam Bankman-Fried personally received $300 million from a $420 million funding round for the company in October 2021, according to a <a href="https://www.wsj.com/articles/ftxs-sam-bankman-fried-cashed-out-300-million-during-funding-spree-11668799774?mod=hp_lead_pos4" target="_blank">Wall Street Journal report</a> that cited FTX financial records it had reviewed, as well as people familiar with the transaction. The arrangement was previously undisclosed, with Bankman-Fried telling investors at the time it was partially to reimburse him for money he’d spent to buy out Binance’s stake in FTX a few months earlier, the Journal reported.

During the most recent election cycle leading up to the U.S. midterms in 2022, reports claim that Sam Bankman-Fried donated more than $40 million to Democrats via super PACs and direct contributions. Furthermore, reports also claim that FTX Digital Markets’ co-chief executive officer Ryan Salame gave $22 million to Republicans.

Bahamian authorities ordered Sam Bankman-Fried, previously the main figurehead of the collapsed FTX exchange, to transfer hundreds of millions of dollars of crypto from FTX to a wallet controlled by the Securities Commission of The Bahamas.&nbsp;

Grayscale Bitcoin Trust (GBTC) shares are selling at a record discount of 42.69% to the underlying asset’s value following FTX’s implosion and fears of market contagion.

According to Julian Hosp, co-founder of the decentralized finance entity Defi Chain, the fall of the crypto exchange FTX and the domino effect it has had may have rekindled interest in decentralized finance (defi) and associated products. Hosp, however, conceded that the crypto exchange’s dramatic collapse also encourages regulators to adopt a harder line when dealing with crypto entities.

While the FTX situation has been unique in many ways, it does not represent a threat of a risk to Tether.

With the collapse of Terra/UST in May, a liquidity crunch ensued as many creditors started to call back loans following the 3AC and Celsius crashes. Alameda would have needed liquidity from a source that would still be willing to give out a loan against their existing collateral

Former FTX CEO Sam Bankman-Fried will no longer be represented by his legal counsel at Paul, Weiss, Rifkind, Wharton &amp; Garrison, a white-shoe law firm, less than a week after retaining the firm to represent him.

Elon Musk believes that the coverage of the FTX saga on Twitter is faster and better than what is being reported by the ‘old-school’ media.