Guggenheim’s Scott Minerd Warns of More Crypto Fallouts Due to FTX Collapse
In wake of the collapse of FTX, the cryptocurrency exchange, and the seeming meltdown of cryptocurrencies overall, the Chief Investment Officer of Guggenheim Partners, Scott Minerd, is issuing a warning to investors. He says that there will be further shakeouts in the crypto industry and the FTX saga won’t be the only one.
US Government Wants to ‘Send a Message’ to Crypto With SBF’s Arrest, Says Former US Prosecutor
The arrest of former FTX CEO Sam Bankman-Fried (SBF) has provided U.S. government regulators with a way to “send a message” to the crypto industry, said a former prosecutor for the U.S. Justice Department’s Securities and Commodities Fraud unit.
Crypto Trading Firm QCP Capital Has at Least $97 Million Stuck on FTX: Sources
QCP Capital, a crypto trading firm based in Singapore, has at least $97 million stuck on FTX after the crypto exchange filed for bankruptcy last month.
Why DeFi is the Answer to the FTX Saga
The potential of decentralized finance and the roadblocks it must overcome
Animoca Founder Says Asia Is ‘Moving On’ From FTX Fiasco
Asia’s cryptocurrency community is “on the path of moving on” from the FTX fiasco, following the arrest of FTX founder Sam Bankman-Fried, said Yat Siu, cofounder and chairman of Hong Kong-based blockchain gaming studio and venture capital firm Animoca Brands.
Former FTX’s Exec Alerted Bahamian Authorities That SBF Was Diverting Customers’ Fund
A former executive at FTX spilled the beans to the Bahamian authorities that customers’ funds were being moved to Alameda.
Crypto Derivatives Platform Paradigm Cuts Salaries by 15 Percent
Paradigm, the crypto derivatives trading platform, cut salaries company-wide by 15 percent.
Alameda Secret Korea Account Exposed Masking Liabilities
According to Bloomberg, a secret account hid code detailing Alameda’s massive liabilities. The GitHub account was in the name of former FTX executive Nishad Singh, the report added.
Top FTX Group Executive Tipped Off Bahamas Authorities About Comingling of Funds in November
A top executive of the FTX group of companies told Bahamas police that funds were comingled between the crypto exchange and its sister trading firm Alameda Research as early as Nov. 9, court documents show.
Alameda Tried to Redeem 3,000 wBTC Days Before Bankruptcy: BitGo CEO
Mike Belshe, the CEO of digital asset custodian BitGo has confirmed that Alameda Research attempted to redeem 3,000 Wrapped Bitcoin (wBTC) in the days before FTX’s bankruptcy filing on Nov. 11. During a Dec. 14 Twitter Spaces hosted by decentralized finance (DeFi) researcher Chris Blec, Belshe confirmed the firm knocked back the redemption request because the unknown Alameda representative involved didn’t pass Bitgo’s security verification process and seemed unfamiliar with how the wrapped-Bitcoin burning process worked. (Cointelegraph)
