Latest Developments Following the FTX Collapse
Deep dive into the latest developments of the FTX collapse, by analysing all the verifiable information, and related events that have come out since the initial collapse.
Binance Hires UK Director, Invokes Need to Comply With Regulators
While flagging efforts to remain above board in the United Kingdom, Binance announced it hired a new director.
In a LinkedIn post, Binance Regional Manager of Europe and the UK Ilir Laro said his company picked Nish Patel to be a director.
"Our main focus will be to register and comply with the UK's Financial Conduct Authority to operate a regulated crypto-asset business in the UK," Laro wrote.
FTX Approaches Kraken for Potential Rescue Deal
FTX has approached U.S.-based crypto exchange Kraken about a potential rescue deal, Axios reported, citing two people familiar with the matter.
Binance’s Total market Value Accounts Nearly $69 Billion
Binance, the leading crypto exchange recently called off its partnership deal with bankrupt FTX after the firm learnt that FTX has mishandled its customer funds and alleged US agency’s investigations.
$1 Binance FTX deal Is Off unless FTX.US Is Part of The Package
Binance will not go ahead with the proposed deal to acquire FTX unless the US-based exchange partner FTX. US is part of the deal, according to a source with knowledge of the matter and text conversations reviewed by Blockworks.
Sequoia Capital to Bring Down Investment in FTX to $0
Sequoia Capital on Wednesday assured investors that the company had limited exposure to FTX and will pull out of its investment in the troubled cryptocurrency exhange, after an FTX deal with peer Binance collapsed.
Binance Reassures Users by Topping up SAFU to $1 Billion
In a bid to avoid a bank run-like situation, major exchanges have made announcements to calm down users. Earlier today, Coinbase CEO Brian Armstrong tweeted a detailed thread outlining the steps taken by his company to ensure the security of user funds.
CZ:FTX Going Down Is Not Good For Anyone In The Industry
In the spirit of transparency, might as well share the actual note, sent to all Binance team globally a few hours ago.
Binance Backs Out of Deal to Buy FTX
The world’s largest crypto exchange by volume, Binance, said it would walk away from a deal with the third largest crypto exchange by volume, FTX.
Binance Is Strongly Leaning Toward Scrapping FTX Rescue Takeover After First Glance at Books
Backing out would be one more stunning development in the collapse of Sam Bankman-Fried’s crypto empire.
